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Home My WebLink AboutRES 16-7034 (ADOPTING BUDGET FY 2016-2017)1 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. 16-7034 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA ADOPTING THE BUDGET FOR THE FISCAL YEAR 2016-2017 WHEREAS, a budget for the fiscal year 2016-2017 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. The City Council does hereby approve and adopt the revised budget for the 2016-2017 Fiscal Year as presented in the documents entitled "City of Hermosa Beach Budget Summary 2016-2017" 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 and ADOPTED this 15th day of June, 2016. �7SF - PRESIDENT of the City Council I ATTEST: City Clerk MAYOR of the City of Hermosa Beach, California APPROVED A9i TO FORM: • l A�) City Attorney Page 1 of 1 16-7034 CITY OF HERMOSA BEACH BUDGET SUMMARY .88 2016-17 n 7� + ESTIMATED REVENUE Taxes $26,035,932 $457.500 $0 Licenses/Perm its $1,150,240 $0 $0 Fines/Forfeitures $2,309,388 $0 $0 Use of Money/Property $917,090 $55 $3,587 Intergovernmental/State $174.240 $0 $410,685 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $6,831,450 $0 $0 Other Revenue $247,524 $0 $0 TOTAL ESTIMATED REVENUE $37,665,864 $457,555 $414,272 INTERFUND TRANSFERS IN $356,460 $177,824 $0 ESTIMATED FUNDS AVAILABLE $38,022,324 $635.379 $414,272 FUND BALANCE 7/1/16 $8.229,283 ($12,360) $48,501 TOTAL FUNDS AVAILABLE $46.251.607 $623,019 $462,773 APPROPRIATIONS Operating Budget $34,053,717 $610,897 $0 Capital Outlay $69,339 $0 $0 Capital Improvements- Prior Year $750,050 $0 $34,581 Capital Improvements- Current Year $873,222 $0 $144,996 TOTAL APPROPRIATIONS $35,746.328 $610.897 $179,577 INTERFUND TRANSFERS OUT $1.588.161 $12,122 $283.196 TOTAL APPROPRIATIONS/TRANSFERS OUT $37.334,489 $623,019 $462,773 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS I STI6AATED FUND BALANCE 6/30/17 $8,917.118 (a) $0 SD (a) CLASSIFICATIONS OF FUND BALANCE: Restricted Current Balance Verizon PEG Grant $92,486 General Plan Maintenance Fee $153.378 Greenwald Theatre Improvement Donation $25,652 Sign Donation $50,000 Committed In Lieu Fee/ Parking Facility $173.400 Assigned Contingencies $5.448,594 Unspecified Contingency $957,645 TOT Increase Reserved for CIP 15/16 $231.936 TOT Increase Reserved for CIP 16/17 $486,728 Retirement Rate Stabilization $1,000,000 Compensated Absences $297,299 r $8,917,118 i i i CITY OF HERMOSA BEACH BUDGET SUMMARY 2016-17 ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $140 $0 $328,161 $35 Intergovernmental/State $0 $0 $0 $0 Intergovernmental/County $0 $20,557 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $58,632 $0 $0 $0 Other Revenue $0 $0 $0 $0 TOTAL ESTIMATED REVENUE $58,772 $20.557 $328,161 $35 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $58,772 $20,557 $328,161 $35 FUND BALANCE 7/1116 $15,816 $23,164 $431,716 $3,693 TOTAL FUNDS AVAILABLE $74,588 $43.721 $759,877 $3,728 APPROPRIATIONS Operating Budget $54,564 $0 $7,000 $0 Capital Outlay $0 $0 $0 $0 Capital Improvements- Prior Year $0 $0 $137,469 $0 Capital Improvements- Current Year $0 $0 $415.922 3728 TOTAL APPROPRIATIONS $54.564 $0 $560,391 $3,728 INTERFUND TRANSFERS OUT $0 $43,721 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OUT $54,564 $43,721 $560,391 $3,728 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/17 $20,024 $0 $199,486 50 CITY OF HERMOSA BEACH BUDGET SUMMARY 2016-17 ESTIMATED REVENUE Taxes $7,202 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $5,742 $17 $0 $168 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 $216,486 $4,500 $2,600 $9,000 TOTAL ESTIMATED REVENUE $229,430 $4,517 $2,600 $9,168 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $229,430 $4,517 $2,600 $9,168 FUND BALANCE 7/1/16 $84,965 $100 $2,735 $9,954 TOTAL FUNDS AVAILABLE $314.395 $4,617 $5,335 $19,122 APPROPRIATIONS Operating Budget $30,548 $2,107 $1,575 $6,305 Capital Outlay $0 $0 $0 $0 Capital Improvements- Prior Year $60,294 $0 $0 $0 Capital Improvements- Current Year $0 $0 $0 $0 TOTAL APPROPRIATIONS $90,842 $2,107 $1,575 $6,305 INTERFUND TRANSFERS OUT $0 $2,307 $2,249 $5,264 TOTAL APPROPRIATIONS/TRANSFERS OUT $90.842 $4,414 $3,824 $11,569 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6130/16 $223,653 5203 51,511 $7,1568 CITY OF HERMOSA BEACH BUDGET SUMMARY 2016-17 ESTIMATED REVENUE Taxes $0 $0 $0 $362,268 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $250 $34 $0 $10,459 Intergovernmental/State $0 $0 $0 $0 IntergovernmentallCounty $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $144,700 $0 Current Service Charges $0 $0 $0 $6,900 Other Revenue $10,000 $3,500 $0 $0 TOTAL ESTIMATED REVENUE $10,250 $3,534 $144,700 $379,627 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $10.250 $3,534 $144,700 $379,627 FUND BALANCE 7/1116 $17,294 $1,690 $0 $921,361 TOTAL FUNDS AVAILABLE $27,544 $5,224 $144,700 $1.300,988 APPROPRIATIONS Operating Budget $5.881 $1,734 $6,700 $212,638 Capital Outlay $0 $0 $0 $0 Capital Improvements- PriorYear $0 $0 $0 $274,892 Capital Improvements- Current Year $0 $0 $138,000 $0 TOTAL APPROPRIATIONS $5,881 $1,734 $144,700 $487,530 INTERFUND TRANSFERS OUT $5,710 $1,891 $0 $0 TOTAL APPROPRIATIONSfTRANSFERS OUT $11,591 $3,625 $144,700 $487.530 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATEDFUND BALANCE 6I30116 $15,953 $1,599 $O 5813,458 Available Fund Balance 6/30/16 $15,953 $1,599 $0 $811458 CITY OF HERMOSA BEACH BUDGET SUMMARY 2016-17 > a' ESTIMATED REVENUE Taxes $300,492 $225,352 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $11,186 $8,946 $0 $392 Intergovernmental/State $0 $0 $71,160 $24,266 Intergovernmental/County $0 $0 $354,535 $0 Intergovernmental/Federal $0 $0 $0 $0 Current Service Charges $0 $0 $0 $0 Other Revenue $0 $0 $100,000 $0 TOTAL ESTIMATED REVENUE $311,678 $234,298 $525,695 $24,660 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $311,678 $234,298 $525.695 $24,660 FUND BALANCE 7/1116 $1.003,852 $395,302 $485,833 $20,000 TOTAL FUNDS AVAILABLE $1,315,530 $629,600 $1,011,528 $44,660 APPROPRIATIONS Operating Budget $42.000 $0 $24,000 $28,600 Capital Outlay $0 $0 $0 $0 Capital Improvements- Prior Year $248,041 $286,452 $300,000 $0 Capital Improvements- Current Year $0 $250,000 $686.799 $0 TOTAL APPROPRIATIONS $290,041 $536.452 $1,010,799 $28.600 INTERFUND TRANSFERS OUT $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERSOUT $290,041 $536,452 $1,010,799 $28,600 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6130/16 $1,025,489 $93,148 $729 $16,060 CITY OF HERMOSA BEACH BUDGET SUMMARY r n 2016-17 ESTIMATED REVENUE Taxes $100,000 $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $50,000 $0 Use of Money/Property $761 $42,569 $0 $1,986 $686 Intergovernmental/State $0 $5,500 $0 $0 $0 Intergovernmental/County $0 $20,000 $0 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 $0 Current Service Charges $0 $998,374 $0 $0 $0 Other Revenue $0 $0 $0 $0 $20,235 TOTAL ESTIMATED REVENUE $100,761 $1,066,443 $0 $51,986 $20,921 INTERFUND TRANSFERS IN $0 $0 $700,000 $0 $0 ESTIMATED FUNDS AVAILABLE $100.761 $1,066,443 $700.000 $51,986 $20,921 FUND BALANCE 7/1/16 $48.343 $2,990,696 $15.446 $49,756 $71,276 TOTAL FUNDS AVAILABLE $149,104 $4,057.139 $715,446 $101,742 $92,197 APPROPRIATIONS Operating Budget $32,114 $341,687 $339,654 $13,100 $0 Capital Outlay $116,990 $0 $0 $33.010 $0 Capital Improvements- Prior Year 0 $0 $0 $0 $0 Capital Improvements- Current Year 0 $600.000 $375,792 $0 $0 TOTAL APPROPRIATIONS $149,104 $947,187 $715.446 $46.110 $0 INTERFUND TRANSFERS OUT $0 $0 $0 $0 $0 TOTAL APPROPRIATIONS/TRANSFERS OU' $149.104 $947.187 $715,446 $46,110 $0 ADJUST FUND BALANCE FOR FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30116 $0 $3,109,952 $0 $55.632 $92,197 Available Fund Balance 6130/16 $0 $3,109,952 $0 $55,632 $92,197 CITY OF HERMOSA BEACH BUDGET SUMMARY 0 2016-17 ESTIMATED REVENUE Taxes Licenses/Permits Fines/Forfeitures Use of Money/Property Intergovernmental/State I ntergovem m e ntal/County Intergovernmental/Federal Current Service Charges Other Revenue TOTAL ESTIMATED REVENUE INTERFUND TRANSFERS IN ESTIMATED FUNDS AVAILABLE FUND BALANCE 711 /16 TOTAL FUNDS AVAILABLE APPROPRIATIONS Operating Budget Capital Outlay Capital Improvements- Prior Year Capital Improvements- Current Year TOTAL APPROPRIATIONS INTERFUND TRANSFERS OUT TOTAL APPROPRIATIONS/TRANSFERS OUT DEBT SERVICE PAYMENT $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $35.129 $1,562 $410 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $35,129 $1,562 $410 $710,337 $0 $0 $0 $710,337 $35.129 $1,562 $410 $0 $5,756,886 $143,074 $47,347 $710,337 $5,792.015 $144,636 $47,757 $0 $442,092 $0 $0 $0 $0 $0 $0 $0 $1,461,761 $0 $0 $0 $2.135,008 $0 $0 $0 $4,038.861 $0 $0 $0 $0 $0 $0 $0 $4,038,861 $0 $0 $710,337 $0 $0 $0 ESTIMATED FUND BALANCE 6/30/17 $0 $1,753,154 $144,636 $47,757 CITY OF HERMOSA BEACH BUDGET SUMMARY 2016-17 ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $813 $56 $1,183 $1,435 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 $813 $56 $1,183 $1,435 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $813 $56 $1,183 $1,435 FUND BALANCE 711/16 $73,859 $4,216 $132,556 $154,741 TOTAL FUNDS AVAILABLE $74,672 $4,272 $133,739 $156,176 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 r ESTIMATED FUND BALANCE 6/30/16 $74,672 $4,272 $133.739 $156,176 Available Fund Balance 6/30116 $74,672 $4.272 $133.739 $156,176 CITY OF HERMOSA BEACH BUDGET SUMMARY 2016-17 ESTIMATED REVENUE Taxes $0 $0 $0 $27,488.746 Licenses/Permits $0 $0 $0 $1,150.240 Fines/Forfeitures $0 $0 $0 $2,359,388 Use of Money/Property $182 $0 $0 $1,373,034 Intergovernmental/State $0 $0 $0 $685,853 Intergovernmental/County $0 $0 $0 $395,092 Intergovernmental/Federal $0 $0 $0 $144,700 Current Service Charges $0 $2,856,529 $1,695,104 $12,446,989 Other Revenue $0 $0 $0 $613,845 TOTAL ESTIMATED REVENUE $182 $2,856,529 $1,695,104 $46.657,887 INTERFUND TRANSFERS IN $0 $0 $529.761 $2.474,382 ESTIMATED FUNDS AVAILABLE $182 $2.856,529 $2,224,865 $49.132.269 FUND BALANCE 7/1116 $13,849 $3.050,772 $7,913,881 $32,149,597 $0 TOTAL FUNDS AVAILABLE $14,031 $5,907,301 $10,138,746 $81,281,866 APPROPRIATIONS Operating Budget $0 $2,377,540 $2,076,100 $40,710,553 Capital Outlay $0 $0 $446,553 $665,892 Capital Improvements- Prior Year $0 $0 $163.765 $3,717.305 Capital Improvements- Current Year $0 $0 $0 $5.623,467 TOTAL APPROPRIATIONS $0 $2.377,540 $2,686.418 $50,722,717 INTERFUND TRANSFERS OUT $0 $529.761 $0 $2.474,382 TOTAL APPROPRIATIONS/TRANSFERS OUT $0 $2,907,301 $2.686,418 $53,197,099 DEBT SERVICE PAYMENT $710,337 ADJUST FUND BALANCE FOR $446,553 $446,553 FIXED ASSET ADDITIONS 2 ESTIMATED FUND BALANCE 6130116 $14.031 $3.000,000 57,898,881 $27,820,983 Designated Building Maintenance Funds Investment in Fixed Assets Assigned Reserve for Dispatch Center Upgrades Available Fund Balance r/16 $14,031 $3,000,000 z Reflects increase to fund balance for fixed asset purchases from Internal Service Funds. $681.968 $4, 931, 336 $293,000 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. 16-7034 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 15, 2016. The vote was as follows: AYES: Armato, Duclos, Massey, Petty, Mayor Fangary NOES: None ABSTAIN: None ABSENT: None Dated June 16, 2016 Elaine Doerfling, City C k