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Home My WebLink AboutRES 14-6905 (BUDGET FY 2014-2015)2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 ?R RESOLUTION NO. 14-6905 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, ADOPTING THE BUDGET FOR THE FISCAL YEAR 2014-2015 WHEREAS, a budget for the fiscal year 2014-2015 has been prepared by the City Manager, and WHEREAS, said budget incorporates expenditures for operating purposes, capital outlay and capital improvement projects, and WHEREAS, said final budget will include the appropriations limit and total annual appropriations subject to limitation as required by Section 37200 of the Government Code, and WHEREAS, the City Council has examined said budget and, after due deliberation and consideration, has made such amendments to the budget as it deems advisable. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, DOES RESOLVE AS FOLLOWS: SECTION 1. That the City Council does hereby approve and adopt the revised budget for the 2014-2015 Fiscal Year as presented in the documents entitled "City of Hermosa Beach Budget Summary 2014-2015," and attached as "Exhibit A." SECTION 2. That the City Clerk shall certify to the passage and adoption of this Resolution; shall cause the same to be entered among the original Resolutions of said City; and shall make a minute of the passage and adoption thereof in the records of the proceeding of the City Council of said City in the minutes of the meeting at which the same is passed and adopted. PASSED, APPROVED nd ADOPTED this 24th y of June 2014. `� rr MAYOR PRO TEM of the City of ATTEST: City Clerk Page 1 of 1 -mosa Beach, California V ED A TO F RM Attorney 14-6905 ``�� CITY OF HERMOSA BEACH BUDGET SUMMARY �,1+ LJ,' 2014.15 ESTIMATED REVENUE Taxes $22,834,507 $468,150 $0 Licenses/Permits $795.240 $0 $0 Fines/Forfeitures $2,748,289 $0 $0 Use of Money/Property $870,435 $737 $5,020 Intergovernmental/State $97.179 $0 $497.030 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $22,162 $0 $0 Current Service Charges $6,221,771 $0 $0 Other Revenue $249,858 $0 $0 TOTAL ESTIMATED REVENUE $33.839,441 $468,887 $502,050 INTERFUND TRANSFERS IN $345,641 $6,479 $0 ESTIMATED FUNDS AVAILABLE $34,185,082 $475,366 $502,050 ESTIMATED FUND BALANCE 711/14 $6,458,358 $76,404 $0 REMAINING PRIOR YEAR CIP $676,497 $0 $107,841 TOTAL FUNDS AVAILABLE $41,319,937 $551,770 $609,891 APPROPRIATIONS Operating Budget $30,490,301 $543,425 $0 Capital Outlay $29,295 $0 $0 Capital Improvements $1,933,404 $0 $311,919 TOTAL APPROPRIATIONS $32,453,000 $543,425 $311,919 INTERFUND TRANSFERS OUT $856.832 $8,345 $297,972 TOTAL APPROPRIATIONSITRANSFERS OUT $33,309,832 $551,770 $609,891 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 WRATED FUND B/gLAXCE6130/15 $8,010,105 (a) SG $0 (a) CLASSIFICATIONS OF FUND BALANCE: Restricted Prior Balance Current Balance Affordable Housing $41.831 $0 General Plan Maintenance Fees (6/30/15) $0 $63.000 Verizon PEG Grant $2,860 $18,860 Greenwald Theatre Improvement Donation $45,000 $45,000 CDBG Fund Exchange 2012- Lawndale $58,134 $0 CDBG Fund Exchange 2013- La Mirada $55,739 $0 Committed Clark Building Future Renovations $1,000 $0 Capital Outlay -Parking Facilities $9,592 $0 In Lieu Fee/ Parking Facility $28,900 Assigned Beach/Plaza Promotions (12/31/12) $13,472 $13,472 Beach/Plaza Promotions (Estimated 6/30/13-6/30/14) $20,000 Contingencies $4,858,893 Retirement Rate Stabilization $1,000,000 Debt Service- Oil $1.000,000 Unspecified Contingencies $500,000 Compensated Absences $297,262 Sales Tax Receivable - Due 01/15 16$ 4,718 $8,010,105 Exhibit A 13 CITY OF HERMOSA BEACH BUDGET SUMMARY fa 2104-15 ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $343 $0 $316.169 $46 Intergovernmental/State $0 $20.557 $0 $0 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $61,130 $0 $0 $0 Other Revenue $0 $0 $0 $0 TOTAL ESTIMATED REVENUE $61,473 $20.557 $316,169 $46 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $61,473 $20,557 $316,169 $46 ESTIMATED FUND BALANCE 711/14 $0 $0 $232,126 $3,272 REMAINING PRIOR YEAR CIP $0 $80,000 $173,805 $0 TOTAL FUNDS AVAILABLE $61,473 $100,557 $722,100 $3,318 APPROPRIATIONS Operating Budget $59.372 $0 $0 $0 Capital Outlay $0 $0 $0 $0 Capital Improvements $0 $80,000 $697,816 $3,318 TOTAL APPROPRIATIONS $59,372 $80,000 $697,816 $3,318 INTERFUND TRANSFERS OUT $0 $20,557 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $59,372 $100,557 $697,816 $3,318 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' ESTIMATED FUND BALANCE 6/30/15 $2,101 $0 $24,284 $0 Available Fund Balance 6/30115 $2,101 $0 $24.204 $0 Exhibit A 14 ',�II `` CITY OF HERMOSA BEACH BUDGET SUMMARY � L=�,' 2014-15 ESTIMATED REVENUE Taxes $7,019 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $2,482 $22 $0 $155 Intergovernmental/State $0 $0 $0 $0 Intergovernmental/County $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $0 $0 $0 $0 Other Revenue $219,261 $4,350 $2,600 $9,000 TOTAL ESTIMATED REVENUE $228.762 $4,372 $2,600 $9,155 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $228,762 $4,372 $2,600 $9,155 ESTIMATED FUND BALANCE 711/14 $267,130 $2,157 $4,746 $11,248 REMAINING PRIOR YEAR CIP $185,163 $0 $0 $0 TOTAL FUNDS AVAILABLE $681,055 $6,529 $7,346 $20,403 APPROPRIATIONS Operating Budget $0 $2,841 $1,813 $6,760 Capital Outlay $0 $0 $0 $0 Capital Improvements $639,121 $0 $0 $0 TOTAL APPROPRIATIONS $639.121 $2,841 $1,813 $6,760 INTERFUND TRANSFERS OUT $0 $3,653 $2,249 $5,264 TOTAL APPROPRIATIONS/TRANSFERSOUT $639,121 $6,494 $4,062 $12,024 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 ESTIMATED FUND BALANCE 6/30/15 .041;434 $35 $3,284 $8,379 Available Fund Balance 6/30/15 $41,934 $35 $3,284 $8,379 1 Exhibit A 15 4 CITY OF HERMOSA BEACH BUDGET SUMMARY 2014-15 ESTIMATED REVENUE Taxes $0 $0 $344.137 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $211 $27 $3,597 Intergovernmental/State $0 $0 $0 Intergovernmental/County, $0 $0 $0 Intergovernmental/Federal $0 $0 $66,000 $0 Current Service Charges $0 $0 $6,646 Other Revenue $10,000 $3,000 $0 TOTAL ESTIMATED REVENUE $10,211 $3,027 $66.000 $354,380 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $10,211 $3,027 $66,000 $354,380 ESTIMATED FUND BALANCE 7/1/14 $16,509 $2,323 $0 $209,200 REMAINING PRIOR YEAR CIP $0 $0 $70,059 $263,352 TOTAL FUNDS AVAILABLE $26,720 $5,350 $136,059 $826.932 APPROPRIATIONS Operating Budget $7,621 $2,275 $9,900 $184,024 Capital Outlay $0 $0 $0 $0 Capital Improvements $0 $0 $126,159 $263,352 TOTAL APPROPRIATIONS $7,621 $2,275 $136,059 $447,376 INTERFUND TRANSFERS OUT $5,710 $1,891 $0 $0 TOTAL APPROPRIATIONS/TRANSFERSOUT $13,331 $4,166 $136,059 $447,376 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6130/15 513,389 $1,184 SO $379,556 Available Fund Balance 6130/15 $13,389 $1,184 $0 $379,556 Exhibit A 16 dJ I CITY OF HERMOSA BEACH BUDGET SUMMARY 'o I? I ,'� 2014-15 ESTIMATED REVENUE Taxes $285,452 $214.092 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $6,147 $4,505 $0 $964 Intergovernmental/State $0 $0 $110,270 $22.500 Intergovernmental/County $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $200,000 $0 Current Service Charges $0 $0 $0 $0 Other Revenue $0 $0 $0 $0 TOTAL ESTIMATED REVENUE $291,599 $218,597 $310,270 $23,464 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $291.599 $218,597 $310,270 $23,464 ESTIMATED FUND BALANCE 711114 $209.512 $130,482 $156,453 $14,974 REMAINING PRIOR YEAR CIP $528,814 $161,023 $95,261 $0 TOTAL FUNDS AVAILABLE $1,029,925 $510,102 $561,984 $38,438 APPROPRIATIONS Operating Budget $30,848 $0 $310,270 $3,600 Capital Outlay $0 $0 $0 $0 Capital Improvements $528,814 $510.102 $232,469 $0 TOTAL APPROPRIATIONS $559,662 $510,102 $542,739 $3,600 INTERFUND TRANSFERS OUT $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $559,662 $510,102 $542,739 $3,600 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 ESTIMATED FUND BALANCE 6/30115 $470,263 $0 $19,245 Ip4,1398 Available Fund Balance 6130115 $470,263 $0 $19,245 $34,838 Exhibit A 17 4 I t y CITY OF HERMOSA BEACH BUDGET SUMMARY .1 � V.' 2014-15 ESTIMATED REVENUE Taxes $100.000 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $37,000 $0 Use of Money/Property $1,572 $10,822 $3,173 $298 Intergovernmental/State $0 $5,422 $0 $0 Intergovernmental/County $0 $10,000 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $0 $30,000 $0 $0 Other Revenue $0 $0 $0 $10,500 TOTAL ESTIMATED REVENUE $101.572 $56,244 $40,173 $10,798 INTERFUND TRANSFERS IN $0 $850,353 $0 $0 ESTIMATED FUNDS AVAILABLE $101,572 $906,597 $40,173 $10,798 ESTIMATED FUND BALANCE 7/1114 $819 $187,524 $280,194 $25,704 REMAINING PRIOR YEAR CIP $0 $172,964 $0 $0 TOTAL FUNDS AVAILABLE $102,391 $1,267,085 $320,367 $36,502 APPROPRIATIONS Operating Budget $23.681 $831,667 $6,700 $0 Capital Outlay $0 $0 $600 $0 Capital Improvements $0 $435,418 $0 $0 TOTAL APPROPRIATIONS $23,681 $1,267,085 $7,300 $0 INTERFUND TRANSFERS OUT $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERSOUT $23,681 $1,267,085 $7,300 $0 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' ESTIMATED FUND BALANCE 6/30/15 $70.710 S0. $313.067 536,502 (c) CLASSIFICATION OF FUND BALANCE Restricted Designated Dept of Justice Funds $146,053 Designated Dept of Treasurer Funds $17,441 Available Fund Balance 6/30115 $78,710 $0 $149,573 $36,502 1 Exhibit A 18 JJ� CITY OF HERMOSA BEACH BUDGET SUMMARY :,�I:l�;� 2014.15 ESTIMATED REVENUE Taxes $0 $0 $0 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $8,431 $1,160 $384 Intergovernmental/State $0 $0 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $0 $0 $0 Other Revenue $10,150 $0 $0 TOTAL ESTIMATED REVENUE $18,581 $1,160 $384 INTERFUND TRANSFERS IN $0 $0 $0 ESTIMATED FUNDS AVAILABLE $18,581 $1,160 $384 ESTIMATED FUND BALANCE 7/1/14 $1,624.184 $140,647 $4,880 REMAINING PRIOR YEAR CIP $128,194 $0 $0 TOTAL FUNDS AVAILABLE $1,770,959 $141,807 $5,264 APPROPRIATIONS Operating Budget $0 $0 $0 Capital Outlay $0 $0 $0 Capital Improvements $222.320 $0 $0 TOTAL APPROPRIATIONS $222,320 $0 $0 INTERFUND TRANSFERS OUT $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $222,320 $0 $0 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' ESTIMATED FUND BALANCE 6130/15 $1,548,639 $141,807 $5,284 Exhibit A 19 ;+�!` CITY OF HERMOSA BEACH BUDGET SUMMARY Lam,' 2014-15 ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $597 $86 $822 $1,053 Intergovernmental/State $0 $0 $0 $0 Intergovernmental/County $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $0 $0 $0 $0 Other Revenue $0 $0 $0 $0 TOTAL ESTIMATED REVENUE $597 $86 $822 $1,053 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $597 $86 $822 $1,053 ESTIMATED FUND BALANCE 7/1/14 $70,410 $4,091 $14.060 $19,201 REMAINING PRIOR YEAR CIP $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $71,007 $4,177 $14,882 $20,254 APPROPRIATIONS Operating Budget $0 $0 $0 $0 Capital Outlay $0 $0 $0 $0 Capital Improvements $0 $0 $0 $0 TOTAL APPROPRIATIONS $0 $0 $0 $0 INTERFUND TRANSFERS OUT $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $0 $0 $0 $0 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' ESTIMATED FUND BALANCE 6/30/15 $71,001 $4,177 $14,02 520,254 Available Fund Balance 6130115 $71,007 $4,177 $14,882 $20,254 Exhibit A 20 ll '` CITY OF HERMOSA BEACH BUDGET SUMMARY ESTIMATED REVENUE Taxes $0 $0 $0 $24,253,357 Licenses/Permits $0 $0 $0 $795,240 Fines/Forfeitures $0 $0 $0 $2,785,289 Use of Money/Property $192 $0 $0 $1,239,450 Intergovernmental/State $0 $0 $0 $752,958 Intergovernmental/County $0 $0 $0 $10,000 Intergovernmental/Federal $0 $0 $0 $288,162 Current Service Charges $0 $2,782,847 $1,518,864 $10,621,258 Other Revenue $0 $0 $426,077 $944,796 TOTAL ESTIMATED REVENUE $192 $2,782,847 $1,944,941 $41,690,510 INTERFUND TRANSFERS IN $0 $0 $0 $1,202,473 ESTIMATED FUNDS AVAILABLE $192 $2,782,847 $1,944,941 $42,892.983 ESTIMATED FUND BALANCE 7/1/14 $13,443 $7,896.849 $5.373,000 $23.449,900 REMAINING PRIOR YEAR CIP $0 $0 $0 $2,642,973 TOTAL FUNDS AVAILABLE $13,635 $10,679,696 $7,317,941 $68.985,856 APPROPRIATIONS Operating Budget $0 $2,773,695 $1,838,877 $37,127,670 Capital Outlay $0 $0 $671,356 $701,251 Capital Improvements $0 $0 $426,077 $6,410,289 TOTAL APPROPRIATIONS $0 $2,773,695 $2,936,310 $44,239,210 INTERFUND TRANSFERS OUT $0 $0 $0 $1,202,473 TOTAL APPROPRIATIONS/TRANSFERS OUT $0 $2,773,695 $2,936,310 $45,441,683 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' $671,356 $671,356 IESTIMATED FUND BALANCE 6/30115 $13,635 $7,900,001 $5,052.937 $24,215,529 Potential Contingencies (d) Investment In Oil Settlement Fixed Assets $2,500,000 $3,017,548 $507,775 Designated Building Maintenance Funds ' Reflects increase to fund balance for fixed asset purchases Internal Service Funds. 2 $3,500,000 recorded as liability for a total of $6,000,000 for the Contingency for Oil Settlement Exhibit A 014 STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF HERMOSA BEACH I, Elaine Doerfling, City Clerk of the City of Hermosa Beach, California, do hereby certify that the foregoing Resolution No. 14-6905 was duly and regularly passed, approved and adopted by the City Council of the City of Hermosa Beach at a Regular Meeting of said Council at the regular place thereof on June 24, 2014. The vote was as follows: AYES: Barragan, Fangary, Petty, Tucker NOES: None ABSTAIN: None ABSENT: Mayor DiVirgilio Dated: June 24, 2014 Elaine Doerfling, City Clerk