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Home My WebLink AboutITEM 18 - BUDGET ADOPTION FY 24 25I YZIA EFAM M.M r7F. 1 Remembering what connects us. Agenda Changes since the May 21, 2024 Budget Workshop General Fund budget options General Fund 5-Year forecast Updated department organization chart Overview of All Funds Budget Overview of CI P 24-25 CIP project details What changed?. $3.17M Main Street Capital Grant Three items incorporated into the proposed budget: $0.6M for Annex Project, $2.9M for Liability Fund activity increase; and $1M for Temporary Homeless Shelter. Smaller changes for staff ing/a water capital project/CDBG allocations. General Fund - Fund Balance 6/18/2024 Amounts in Thousands Beginning Fund Balance Operating Revenue Operating/Capital Expenditures Budget Option: Land Sale Proceeds to GF: Emerg. Generator Net Operating Changes General Fund Surplus/(Deficit) Land Sale Proceeds Subtotal GENERAL FUND OPTION A OPTION B Proposed Proposed 24-25 24-25 $ 25,121 $ 25,121 97,558 97,558 (98,429) (98,429) 3, 000 2,130 (870) 27130 1 1 (870) GF Reserves as % of GF operating expenditures 28% 25% LAND SALE PROCEEDS OPTION A OPTION B Proposed Proposed 24-25 24-25 $ 84,366 $ 84,366 1,000 1,000 (74,768) (74,768) (3,000) (76,768) (73,768) (76,768) (73,768) 5-Year Reserves % Forecast — General Fund FY 24-25 Option A — GF reserves better by $3 million at 28%. MOU increase 0% to 5% annually Includes estimated GF revenues and expenditures from Legacy new developments in next five years Sales tax, prop tax, permit fees, rents, special tax B. Building permit and planning costs, public safety, park and street maintenance, utility 45.0% HOW 35.0% a 30.0% c m a x W W C '� 25.0% m a 0 0 0 20.0% a 10.0% 5.0% 0.0% General Fund Reserve - 5-Year Historyand 5-Year Forecast by MOU % Increases FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 —O%MOU —1% —2% —3% —4% —5% —Minimum Reserve FY 2028 FY 2029 5-Year Reserves % Forecast — General Fund FY 24-25 Option B — GF reserves at 25% MOU increase 0% to 5% annually Includes estimated GF revenues and expenditures from Legacy new developments in next five years. Sales tax, prop tax, permit fees, rents, special tax B. Building permit and planning rnctc niihlit cnfntxi nary and 45.0% 40.0% 35.0% C a 30.0% X LU W 25.0% a 0 M 41 20.0% 0 N G7 i, y 15.0% W 4- 0 0 10.0% 5.0% 0.0% General Fund Reserve -5-Year History and 5-Year Forecast by MOU % Increases FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 Ah Am Am Parks & Recreation Administration I Human Services I Park Services I Recreation Services Ad min & Tustin Area Senior r Annex & Veterans ` ■ Columbus Tustin Personnel support Center Spot Pam Recreation Center Tustin Fa mily& 1 City HaA Front budget & Finance Youth Center Tustin Sports Park Counter Public information Fadlity Support Sports Field Park & Facility Allocations Reservations Sporrsurs hips & Transportation Bark Barracks Tustin Today Grant Program Dog Park Brochure Capital _ ---__ Community n erCe tt Improvement& Food Programs Adult Sport at Special Proj. Leagues The Market Plaoe Pu bl is Art & Community Senior Center Class/Cam p Services Fund Non-ProfR Tennis Programs Registration Commissions Senior Advisory Park Special Fvent Contract Classes Public Art Prole L[s Board 1 Permits Street Fair &Chili Sunset Iota Social Media Cook -off Skate Park Remembering Legacy Park Develc pments Tustin Tiller Days 7 24-25 All Funds Revenue Budget • Option B • Unrestricted revenues (General Fund) — 54% • Designated revenues (designated CIP and Internal Services) — 11% • Restricted revenues (all others) — 35% 24-25 All Funds Revenue Budget (in millions), Total 182M CIP (Designated) $4.7 3% Water Enterprise $24.8 Fed/State Prog $1.2 1% General Fund (Unrestricted) A--. - Fee Programs $3.3 29b Special Assessment Prog $8.6 5% Internal Services $14.4 8% Trust/Fiduciary $14.4 8% 24-25 All Funds Expenditure Budget • Option B 24/25 All Funds Expenditure Budget (In millions), Total $282M Special Assessment Prog $9.0 3% Internal Services $14.6 5% Trust/Fiduciary $11.1 4% 24-25 Budget CIP Project Summary 24-25 total CIP $102M, small increase from the budget workshop. # of projects - 42 24-25 CIP Project by Type (in millions), Total $102.2 1 Street Maintenance, Water $2.0, ;�/o� Traffic Control, $6.8, 7% Tustin Legacy, $33.5, 33 Public Facilities, $16.4, 16% Neighborhood G Infrastructure - Phase 1 Design of public roadways, wet and dry utilities, grading and drainage to support future development. ($17.3M budgeted, $2-3M anticipated for design) Consideration of Legacy Park and Recreation Park design to ensure elements align Construction expected to occur simultaneously with Brookfield for -sale project/for-sale development ($10M Construction) Brookfield evaluating/Private Developer to evaluate what elements may be possible for them to perform TTM 19292 NEIGHBORHOOD G FINAL ENGINEERING SERVICES PROPOSAL PHASED SCOPE LIMITS EXHIBIT PHASE I FINAL ENGINEERING SERVICES ROUGH GRADE STREETS (80• ACRES) MASS GRADE PARCELS STREET, STORM DRAIN, IRWD NON -CAPITAL PLAN IRWD CAPITAL SEWER PLAN IRWD CAPITAL NON -DOMESTIC PLAN —o[rcn m Cw FKWFF TO pD1EvT � TR,PPIHC LEYICE Mx TRANM rnrcn r�erta ION (SUM 1 FE'•[E]1 1i i Iso LOT - . _ _. WARNERAV.E M01[Iry R,CC vIf,. rONEF c�de��eHrisvNwA�� — OFE C' Neighborhood D South / Legacy Park / Pedestrian Bridges Phase 2 — Package 1 currently under construction. Grading, utilities, pedestrian bridge surcharge mounds, initial roadway construction, South Hangar electrical Phase 2 — Package 2 ($4.4M) Roadways, dry utilities and signals) to be complete in tandem with Confluent development project Legacy Park / Pedestrian Bridges ($18.2M) Bridge mounds to be shaved once proper settling has occurred Construction of park to begin after mound settling Construction of Armstrong bridge to follow or occur during park construction Cornerstone II Infrastructure Design Design of roadways, wet and dry utilities, grading and drainage to support future development Private Developer to evaluate what elements may be possible for them to perform - $400K for infrastructure design WARNER -AVENUE - r � �- n Old Town & Main Street Improvements Design complete in accordance with Old Town Specific Plan J i-.1u.� : I : ■■son ■■■ ■■ project on . . Construction Costs Old Town $4.2M Main St. $5.6M Main Street awarded $3.2M grant 0 Recommendations Adopt24-25 budget — Option A or Option B. Adopt GANN limit (setting limit for appropriations funded by tax proceeds). Adopt 24-25 Housing Authority budget Adopted resolutions related to compensations and position control. /�N Remembering what connects us. Thank you 1W, A T' -74 INS, �i ' I M