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Home My WebLink AboutRES 15-6966 (BUDGET FOR FY 2015-16)2 3 4 5 6 7 s 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 r 27 7R RESOLUTION NO. 15-6966 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, ADOPTING THE BUDGET FOR THE FISCAL YEAR 2015-2016 WHEREAS, a budget for the Fiscal Year 2015-2016 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 2015-2016 Fiscal Year as presented in the documents entitled "City of Hermosa Beach Budget Summary 2015-2016", and attached as "Exhibit A." SECTION 2. This Resolution shall take effect immediately. The City Clerk shall certify to the passage and adoption of this Resolution; shall enter the same in the book of original Resolutions; and shall make a minute of the passage and adoption thereof in the records of the proceedings of the City Council meeting at which the same is passed and adopted. PASSED, APPROVED PRESIDENT of the City Council ATTEST: City Clerk DOPTED this 9th d; MAYOR of 0 City of APPROVED AS Page 1 of 1 of June, 2015. -r osa Beach, California T ORM: l _ 15-6966 CITY OF HERMOSA BEACH BUDGET SUMMARY } tF 2015-16 a a' ESTIMATED REVENUE Taxes $24,138,315 $459.000 $0 Licenses/Permits $795,045 $0 $0 Fines/Forfeitures $2,777,196 $0 $0 Use of Money/Property $902,349 $648 $3,772 Intergovernmental/State $143,281 $0 $432,836 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $6,523,944 $0 $0 Other Revenue $246,035 $0 $0 TOTAL ESTIMATED REVENUE $35,526,165 $459,648 $436,608 INTERFUND TRANSFERS IN $362,884 $26,950 $0 ESTIMATED FUNDS AVAILABLE $35,889,049 $486,598 $436,608 FUND BALANCE 7/1 /15 $8,391, 348 $51,581 $132,821 REMAINING PRIOR YEAR CIP $1,447,766 TOTAL FUNDS AVAILABLE $45,728,163 $538,179 $569,429 APPROPRIATIONS Operating Budget $32,659,956 $529,834 $0 Capital Outlay $32,905 $0 $0 Capital Improvements $2,224,926 $0 $238,659 TOTAL APPROPRIATIONS $34,917,787 $529,834 $238,659 INTERFUND TRANSFERS OUT $726,950 $8,345 $316,000 TOTAL APPROPRIATIONS/TRANSFERS OUT $35,644,737 $538,179 $554,659 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/16 $10,083,426 (a) $0 $14,770 (a) CLASSIFICATIONS OF FUND BALANCE: Restricted Current Balance Verizon PEG Grant $74,760 Greenwald Theatre Improvement Donation $25,652 Sign Donation $50,000 Committed In Lieu Fee/ Parking Facility $28,900 Assigned Contingencies $5,225,593 Retirement Rate Stabilization $1,000,000 Debt Service- Oil 14/15 $1,000,000 Debt Service- Oil 15/16 $1,000,000 Unspecified Contingencies- 14/15 $500,000 Unspecified Contingencies- 15/16 $750,000 Compensated Absences $297,262 Sales Tax Receivable $131,259 Available Fund Balance 61.30116 $10,083,426 so f Exhibit A CITY OF HERMOSA BEACH BUDGET SUMMARY 2015-16 e f2 � ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $0 $0 $327,182 $40 Intergovernmental/State $0 $0 $0 $0 Intergovernmental/County $0 $133,057 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $57.193 $0 $0 $0 Other Revenue $0 $0 $0 $0 TOTAL ESTIMATED REVENUE $57,193 $133.057 $327,182 $40 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $57,193 $133,057 $327,182 $40 ESTIMATED FUND BALANCE 7/1115 $5,841 ($41, 566) $392,075 $3,646 TOTAL FUNDS AVAILABLE $63,034 $91,491 $719,257 $3,686 APPROPRIATIONS Operating Budget $54.701 $0 $0 $0 Capital Outlay $0 $0 $0 $0 Capital Improvements $0 $41,470 $719,257 $3,318 TOTAL APPROPRIATIONS $54,701 $41,470 $719,257 $3,318 INTERFUND TRANSFERS OUT $0 $20,557 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $54,701 $62,027 $719,257 $3,318 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 ESTIMATED FUND BALANCE 6130116 $8,333 $29,464 $0 $368 Available Fund Balance 6/30116 $8,333 $29,464 $0 $368 Exhibit A CITY OF HERMOSA BEACH BUDGET SUMMARY y 2015-16 ie ESTIMATED REVENUE Taxes $7,145 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $6,765 $37 $0 $222 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 $216,451 $4,350 $2,600 $9,000 TOTAL ESTIMATED REVENUE $230,361 $4,387 $2,600 $9,222 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $230,361 $4,387 $2,600 $9,222 ESTIMATED FUND BALANCE 7/1 /15 $377,041 $689 $3,544 $11,799 TOTAL FUNDS AVAILABLE $607,402 $5,076 $6,144 $21,021 APPROPRIATIONS Operating Budget $0 $2208 $1.932 $6,865 Capital Outlay $0 $0 $0 $0 Capital Improvements $589,982 $0 $0 $0 TOTAL APPROPRIATIONS $589,982 $2,208 $1,932 $6,865 INTERFUND TRANSFERS OUT $0 $2,868 $2,249 $5,264 TOTAL APPROPRIATIONS/TRANSFERS OUT $589,982 $5,076 $4,181 $12,129 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 ESTIMATED FUND BALANCE 6/30/16 $17,420 $0 51,963 $8,892 Available Fund Balance 6/30/16 $17,420 $0 $1,963 $8,892 Exhibit A • CITY OF HERMOSA BEACH BUDGET SUMMARY Y Year End Est 2014-15 ESTIMATED REVENUE Taxes $0 $0 $0 $357,901 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $306 $46 $0 $8,332 Intergovernmental/State $0 $0 $0 $0 Intergovernmental/County $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $174,600 $0 Current Service Charges $0 $0 $0 $6,900 Other Revenue $10,000 $3.000 $0 $0 TOTAL ESTIMATED REVENUE $10,306 $3,046 $174,600 $373,133 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $10,306 $3,046 $174,600 $373,133 ESTIMATED FUND BALANCE 7/1/15 $17,501 $2,071 $0 $726,737 TOTAL FUNDS AVAILABLE $27,807 $5,117 $174,600 $1,099,870 APPROPRIATIONS Operating Budget $7,176 $1,874 $6,600 $145,314 Capital Outlay $0 $0 $0 $0 Capital Improvements $0 $0 $168,000 $274,892 TOTAL APPROPRIATIONS $7,176 $1,874 $174,600 $420,206 INTERFUND TRANSFERS OUT $5,710 $1,891 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $12,886 $3,765 $174,600 $420,206 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' ESTIMATED FUND BALANCE 6/30116 $14,921 $1,352 $0 $679,664 Available Fund Balance 6/30/16 $14,921 $1,352 $0 $679,664 Exhibit A CITY OF HERMOSA BEACH BUDGET SUMMARY x 2015-16 ESTIMATED REVENUE Taxes $296.870 $221,869 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $12.108 $5,646 $0 $194 Intergovernmental/State $0 $0 $105,829 $24,268 Intergovernmental/County $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $82,234 $0 Current Service Charges $0 $0 $0 $0 Other Revenue $0 $0 $275.000 $0 TOTAL ESTIMATED REVENUE $308,978 $227,515 $463,063 $24,462 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $308,978 $227,515 $463,063 $24,462 ESTIMATED FUND BALANCE 7/1/15 $834,568 $418,459 $89,299 $34.797 TOTAL FUNDS AVAILABLE $1,143.546 $645,974 $552,362 $59,259 APPROPRIATIONS Operating Budget $30,000 $0 $177,648 $28,600 Capital Outlay $0 $0 $0 $28,611 Capital Improvements $533,326 $638,197 $370,261 $0 TOTAL APPROPRIATIONS $563,326 $638,197 $547,909 $57,211 INTERFUND TRANSFERS OUT $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $563,326 $638,197 $547,909 $57,211 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS' ESTIMATED FUND BALANCE 6/30/16 $580,220 $7,777 $4,453 $2,048 Available Fund Balance 6/30/16 $580,220 $7,777 $4,453 $2,048 Exhibit A CITY OF HERMOSA BEACH BUDGET SUMMARY 0 % 2015-16 ESTIMATED REVENUE Taxes $100.000 $0 $0 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $2,894 $14,570 $0 Intergovernmental/State $0 $5,800 $0 Intergovernmental/County $0 $10,000 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $0 $34,000 $0 Other Revenue $0 $4,000,000 $0 TOTAL ESTIMATED REVENUE $102,894 $4,064,370 $0 INTERFUND TRANSFERS IN $0 $276,191 $423,809 ESTIMATED FUNDS AVAILABLE ESTIMATED FUND BALANCE 7/1 /15 TOTAL FUNDS AVAILABLE APPROPRIATIONS Operating Budget Capital Outlay Capital Improvements TOTAL APPROPRIATIONS $102,894 $4,340,561 $81 $3,292,004 $423,809 $0 $0 $0 $20.000 $4,777 $0 $0 $0 $0 $0 $24,777 $0 $24,777 $8,353 $0 $0 $0 $471 $0 $0 $0 $0 $10,500 $10,971 $0 $10,971 $43,437 $102,975 $7,632,565 $423.809 $33,130 $54,408 $40.471 $299,764 $423.809 $12,500 $0 $0 $0 $0 $600 $0 $0 $5,500,000 $0 $0 $0 $40,471 $5,799,764 $423,809 $13,100 $0 INTERFUND TRANSFERS OUT $0 $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OU $40,471 $5,799,764 $423,809 $13,100 $0 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 ESTIMATED FUND BALANCE 6/30116 $62,504 $1,832,801 $0 $20,030 554,408 Assigned for Bond Issuance 18/19 (1,500,000.00) Available Fund Balance 6/30/16 0- $332,8010T 'Sewer Fund is in the process of transitioning from a Special Revenue Fund to an Enterprise Fund in 15-16. Exhibit A CITY OF HERMOSA BEACH BUDGET SUMMARY Year End Est 2014-15 ESTIMATED REVENUE Taxes $0 $0 $0 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $11,060 $1,735 $441 Intergovernmental/State $0 $0 $0 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $0 $0 $0 Other Revenue $0 $0 $0 TOTAL ESTIMATED REVENUE $11,060 $1,735 $441 INTERFUND TRANSFERS IN $0 $0 $0 ESTIMATED FUNDS AVAILABLE $11,060 $1,735 $441 ESTIMATED FUND BALANCE 7/1115 $2, 370,051 $141,130 $48,421 TOTAL FUNDS AVAILABLE $2,381,111 $142,865 $48,862 APPROPRIATIONS Operating Budget $0 $0 $0 Capital Outlay $0 $0 $0 Capital Improvements $941,187 $0 $0 TOTAL APPROPRIATIONS $941,187 $0 $0 INTERFUND TRANSFERS OUT $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $941,187 $0 $0 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 1 ESTIMATED FUND BALANCE 6/30/16 $1.439,924 $142,865 $48,862 Available Fund Balance 6/30/16 $1,439,924 $142,865 $48,862 Exhibit A `. CITY OF HERMOSA BEACH BUDGET SUMMARY r a ' o' 2015-16 ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $0 $63 $1,265 $1,552 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 $0 $63 $1,265 $1,552 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $0 $63 $1,265 $1,552 ESTIMATED FUND BALANCE 7/1/15 $72.053 $4.152 $126,916 $147,018 TOTAL FUNDS AVAILABLE $72.053 $4.215 $128,181 $148,570 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 6/30/16 $72,053 $4,215 $128,181 $148,570 Available Fund Balance 6130/16 $72,053 $4,215 $128,181 $148,570 Exhibit A CITY OF HERMOSA BEACH BUDGET SUMMARY 2015-16 ESTIMATED REVENUE Taxes $0 $0 $0 $25,581,100 Licenses/Permits $0 $0 $0 $795,045 Fines/Forfeitures $0 $0 $0 $2,797,196 Use of Money/Property $206 $0 $0 $1,306,681 Intergovernmental/State $0 $0 $0 $712,014 Intergovernmental/County $0 $0 $0 $143,057 Intergovernmental/Federal $0 $0 $0 $256,834 Current Service Charges $0 $2,927,445 $1.572.192 $11,121,674 Other Revenue $0 $0 $426,077 $5,203,013 TOTAL ESTIMATED REVENUE $206 $2,927,445 $1,998,269 $47,916,614 INTERFUND TRANSFERS IN $0 $0 $0 $1,089,834 ESTIMATED FUNDS AVAILABLE ESTIMATED FUND BALANCE 711/15 TOTAL FUNDS AVAILABLE APPROPRIATIONS Operating Budget Capital Outlay Capital Improvements TOTAL APPROPRIATIONS $206 $2,927,445 $1,998,269 $49,006,448 $13,633 $3,089,586 $7,056,829 $27,865,915 $1,447,766 $13,839 $6,017,031 $9.055,098 $78,320,129 $0 $2.874.048 $1,595,121 $38,898,421 $0 $0 $745,126 $807,242 $0 $0 $388,192 $12,631,667 $0 $2,874,048 $2,728,439 $52,337,330 INTERFUND TRANSFERS OUT $0 $0 $0 $1,089,834 TOTAL APPROPRIATIONS/TRANSFERS OUT $0 $2,874,048 $2,728,439 $53,427,164 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS 2 $745,126 $745,126 ESTIMATED FUND BALANCE 6/30/16 $13,839 $3,142,983 $7,071,785 $25,638,09111 Designated Building Maintenance Funds $604,330 Investment in Fixed Assets $4,813,024 Available Fund Balance r 2 Reflects increase to fund balance for fixed asset purchases from Internal Service Funds. Exhibit A 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. 15-6966 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 9, 2015. The vote was as follows: AYES: Barragan, DiVirgilio, Fangary, Petty, Mayor Tucker NOES: None ABSTAIN: None ABSENT: None Dated June 9, 2015 Elaine Doerfling, City Cler