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Home My WebLink AboutRES-24-7441 (BUDGET ADOPTION 2024-25)Page 1 of 1 RES-24-7441 CITY OF HERMOSA BEACH RESOLUTION NO. RES-24-7441 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA ADOPTING THE BUDGET FOR THE FISCAL YEAR 2024–25 WHEREAS, a budget for the fiscal year 2024–25 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 HEREBY RESOLVE AS FOLLOWS: SECTION 1. That the City Council does hereby approve and adopt the revised budget for the 2024–25 Fiscal Year as presented in the documents entitled “City of Hermosa Beach Budget Summary 2024–25”, 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 on this 11th day of June, 2024. Mayor Justin Massey PRESIDENT of the City Council and MAYOR of the City of Hermosa Beach, CA ATTEST: APPROVED AS TO FORM: ________________________________ _________________________________ Myra Maravilla, Patrick Donegan, City Clerk City Attorney DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 State of California ) County of Los Angeles ) ss ) City of Hermosa Beach June 18, 2024 Certification of Council Action RESOLUTION NO. RES-24-7441 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA ADOPTING THE BUDGET FOR THE FISCAL YEAR 2024–25 I, Myra Maravilla, City Clerk of the City of Hermosa Beach do hereby certify that the above and foregoing Resolution No. RES-24-7441 was duly approved and adopted by the City Council of said City at its regular meeting thereof held on the 11th day of June 2024 and passed by the following vote: AYES: MAYOR MASSEY, MAYOR PRO TEMPORE FRANCOIS, COUNCILMEMBERS SAEMANN, DETOY and JACKSON NOES: NONE ABSTAIN: NONE ABSENT: NONE ________________________________ Myra Maravilla, City Clerk DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 Major Fund LIGHTING GENERAL LANDSCAPING STATE GAS FUND FUND TAX FUND 001 105 115 ESTIMATED REVENUE Taxes $39,762,744 $461,555 $0 Licenses/Permits $829,966 $0 $0 Fines/Forfeitures $1,739,040 $0 $0 Use of Money/Property $1,704,063 $3,366 $49,735 Intergovernmental/State $139,944 $0 $1,047,031 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $9,957,984 $0 $0 Other Revenue $122,351 $0 $0 TOTAL ESTIMATED REVENUE $54,256,092 $464,921 $1,096,766 INTERFUND TRANSFERS IN $439,939 $419,095 $0 ESTIMATED FUNDS AVAILABLE $54,696,031 $884,016 $1,096,766 FUND BALANCE 7/1/24 $15,415,367 ($25,491)$713,560 APPROPRIATIONS Capital Improvements-CY $0 $0 $700,000 TOTAL APPROPRIATIONS $52,803,422 $847,471 $1,444,701 INTERFUND TRANSFERS OUT $2,535,025 $11,054 $357,865 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/25 $14,772,951 (a)$0 $7,760 (a) CLASSIFICATIONS OF FUND BALANCE: Restricted Committed Assigned Retirement Rate Stabilization $1,021,575 $1,021,575 Available Fund Balance 6/30/24 $0 $0 7,760 21-22 Prop A Fund Exchange- Engineer 1 EXHIBIT A DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 PROP A AB 939 OPEN SPACE TYCO FUND FUND FUND 117 121 122 ESTIMATED REVENUE Taxes $0 $0 $0 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $15,752 $0 $457,587 Intergovernmental/State $0 $0 $0 Intergovernmental/County $0 $96,123 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $64,000 $0 $0 Other Revenue $0 $0 $0 TOTAL ESTIMATED REVENUE $79,752 $96,123 $457,587 INTERFUND TRANSFERS IN $0 $0 $0 ESTIMATED FUNDS AVAILABLE $79,752 $96,123 $457,587 FUND BALANCE 7/1/24 $229,296 ($30,603)$2,094,793 APPROPRIATIONS Capital Improvements $0 $0 $1,174,832 TOTAL APPROPRIATIONS $27,317 $0 $2,543,928 INTERFUND TRANSFERS OUT $0 $65,520 $0 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/25 $281,731 $0 $8,452 Available Fund Balance 6/30/24 $281,731 $0 $8,452 2 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 PARK/BAYVIEW DRIVE RECREATION DISTRICT ADMIN FACILITY TAX EXPENSE FUND FUND 125 135 ESTIMATED REVENUE Taxes $57,526 $0 Licenses/Permits $0 $0 Fines/Forfeitures $0 $0 Use of Money/Property $17,683 $317 Intergovernmental/State $0 $0 Intergovernmental/County $0 $0 Intergovernmental/Federal $0 $0 Current Service Charges $0 $0 Other Revenue $60,000 $5,000 TOTAL ESTIMATED REVENUE $135,209 $5,317 INTERFUND TRANSFERS IN $0 $0 ESTIMATED FUNDS AVAILABLE $135,209 $5,317 FUND BALANCE 7/1/2024 $298,134 $6,042 APPROPRIATIONS Capital Improvements- CY $70,000 $0 TOTAL APPROPRIATIONS $407,046 $1,800 INTERFUND TRANSFERS OUT $0 $3,000 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/23 $26,297 $6,559 Available Fund Balance 6/30/24 $26,297 $6,559 3 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 BEACH DRIVE DISTRICT ADMINISTRATIVE COMMUNITY / DEV PROPOSITION PROPOSITION EXPENSE BLOCK GRANT A C FUND FUND FUND 139 140 145 146 ESTIMATED REVENUE Taxes $0 $0 $534,912 $443,697 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $221 $0 $18,205 $84,925 Intergovernmental/State $0 $0 $0 $0 Intergovernmental/County $0 $0 $0 $0 Intergovernmental/Federal $0 $147,148 $0 $0 Current Service Charges $0 $0 $900 $0 Other Revenue $4,000 $0 $0 $0 TOTAL ESTIMATED REVENUE $4,221 $147,148 $554,017 $528,622 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $4,221 $147,148 $554,017 $528,622 FUND BALANCE 7/1/24 $3,895 $3,192 $597,797 $1,109,630 APPROPRIATIONS Capital Improvements- CY $0 $0 $500,000 $450,000 TOTAL APPROPRIATIONS $1,600 $147,148 $662,858 $1,508,143 INTERFUND TRANSFERS OUT $2,500 $0 $0 $0 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/24 $4,016 $3,192 $488,956 $130,109 Available Fund Balance 6/30/24 $4,016 $3,192 $488,956 $130,109 4 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 MEASURE R MEASURE M MEASURE W GRANT FUND FUND FUND FUND 147 148 149 150 ESTIMATED REVENUE Taxes $332,772 $377,141 $158,426 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $49,645 $59,837 $25,662 $0 Intergovernmental/State $0 $0 $0 $1,033,802 Intergovernmental/County $0 $0 $211,675 $0 Intergovernmental/Federal $0 $0 $0 $1,865,251 Current Service Charges $0 $0 $0 $0 Other Revenue $0 $0 $0 $14,938 TOTAL ESTIMATED REVENUE $382,417 $436,978 $395,763 $2,913,991 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $382,417 $436,978 $395,763 $2,913,991 FUND BALANCE 7/1/24 $785,739 $221,301 $672,102 $446,271 APPROPRIATIONS Capital Improvements- CY $380,000 $390,000 $200,000 $963,000 TOTAL APPROPRIATIONS $1,090,105 $540,305 $628,322 $3,122,520 INTERFUND TRANSFERS OUT $0 $0 $0 $0 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/24 $78,051 $117,974 $439,543 $237,742 Available Fund Balance 6/30/24 $78,051 $117,974 $439,543 $237,742 5 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 2024-25 SUPPLEMENTAL AIR QUALITY LAW ENFORCEMENT IMPROVEMENT SERVICES FEMA FUND FUND FUND 152 153 157 ESTIMATED REVENUE TOTAL ESTIMATED REVENUE $30,561 $169,505 $0 FUND BALANCE 7/1/24 $109,431 $493,051 ($922,424) APPROPRIATIONS Capital Improvements $0 0 $0 TOTAL APPROPRIATIONS $135,000 $279,450 $0 INTERFUND TRANSFERS OUT $0 $0 $0 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/24 $4,992 $383,106 ($922,424) Available Fund Balance 6/30/24 4,992 $383,106 ($922,424) 6 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 ASSET SEIZURE/ SEWER STORM DRAIN FORFEITURE FUND FUND FUND 160 161 170 ESTIMATED REVENUE Taxes $0 $0 $0 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $188,456 $137,239 $29,776 Intergovernmental/State $0 $0 $0 Intergovernmental/County $0 $25,000 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $1,272,278 $0 $0 Other Revenue $0 $0 $0 TOTAL ESTIMATED REVENUE $1,460,734 $162,239 $29,776 INTERFUND TRANSFERS IN $0 $700,000 $0 ESTIMATED FUNDS AVAILABLE $1,460,734 $862,239 $29,776 FUND BALANCE 7/1/24 $4,196,683 $2,568,708 $578,687 APPROPRIATIONS Capital Improvements 779,764 850,000 $0 TOTAL APPROPRIATIONS $4,048,218 $3,303,883 $17,874 INTERFUND TRANSFERS OUT $0 $0 $0 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/24 $1,609,199 $127,064 $590,589 Available Fund Balance 6/30/24 $1,609,199 $127,064 $590,589 7 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 RTI FIRE RTI UNDERSEA CABLE PROTECTION UNDERSEA CABLE TIDELANDS FUND FUND FUND 180 190 191 ESTIMATED REVENUE Taxes $0 $0 $0 Licenses/Permits $0 $0 $0 Fines/Forfeitures $0 $0 $0 Use of Money/Property $299 $539,274 $211,136 Intergovernmental/State $0 $0 $0 Intergovernmental/County $0 $0 $0 Intergovernmental/Federal $0 $0 $0 Current Service Charges $0 $0 $0 Other Revenue $4,000 $0 $0 TOTAL ESTIMATED REVENUE $4,299 $539,274 $211,136 INTERFUND TRANSFERS IN $0 $0 $0 ESTIMATED FUNDS AVAILABLE $4,299 $539,274 $211,136 FUND BALANCE 7/1/24 $8,847 $1,109,582 $390,045 APPROPRIATIONS Capital Improvements $0 $425,000 141,600 TOTAL APPROPRIATIONS $0 $1,534,582 $309,915 INTERFUND TRANSFERS OUT $0 $0 $0 ESTIMATED FUND BALANCE 6/30/24 $13,146 $114,274 $291,266 Available Fund Balance 6/30/24 $13,146 $114,274 $291,266 8 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 Debt Service Fd BAYVIEW DRIVE LOWER PIER CAPITAL GREENWICH DISTRICT DISTRICT LEASE REVENUE IMPROVEMENT VILLAGE N UNDERGROUND REDEMPTION REDEMPTION BOND FUND FUND UTILITIES FUND FUND 201 301 313 609 610 ESTIMATED REVENUE Taxes $0 $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 $0 Use of Money/Property $0 $644,355 $0 $3,772 $163 Intergovernmental/State $0 $0 $0 $0 $0 Intergovernmental/County $0 $0 $0 $0 $0 Intergovernmental/Federal $0 $0 $0 $0 $0 Current Service Charges $0 $0 $0 $0 $0 Other Revenue $0 $0 $0 $0 $0 TOTAL ESTIMATED REVENUE $0 $644,355 $0 $3,772 $163 INTERFUND TRANSFERS IN $686,161 $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $686,161 $644,355 $0 $3,772 $163 FUND BALANCE 7/1/24 $31,039 $12,331,476 $58,573 $103,865 $3,288 APPROPRIATIONS Capital Improvements- CY $0 2,964,563 $0 $0 $0 TOTAL APPROPRIATIONS $0 $10,243,468 $0 $0 $0 INTERFUND TRANSFERS OUT $0 $0 $0 $0 $0 ESTIMATED FUND BALANCE 6/30/24 $0 $2,732,363 $58,573 $107,637 $3,451 Reserved for New Corporate City Yard Construction $1,889,278 (with contingency) Reserve for Capital Facilities $841,393 Available Fund Balance 6/30/24 $0 $1,692 $58,573 $107,637 $3,451 9 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 BEACH DRIVE BEACH DRIVE MYRTLE LOMA DISTRICT DISTRICT AVENUE DRIVE REDEMPTION RESERVE ASSESSMENT ASSESSMENT FUND FUND FUND FUND 611 612 617 618 ESTIMATED REVENUE Taxes $0 $0 $0 $0 Licenses/Permits $0 $0 $0 $0 Fines/Forfeitures $0 $0 $0 $0 Use of Money/Property $1,350 $240 $0 $0 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 $1,350 $240 $0 $0 INTERFUND TRANSFERS IN $0 $0 $0 $0 ESTIMATED FUNDS AVAILABLE $1,350 $240 $0 $0 FUND BALANCE 7/1/24 $44,340 $1,787 $51,709 $90,230 APPROPRIATIONS Capital Improvements- CY TOTAL APPROPRIATIONS $0 $0 $0 $0 INTERFUND TRANSFERS OUT $0 $0 $0 $0 FIXED ASSET ADDITIONS ESTIMATED FUND BALANCE 6/30/24 $45,690 $2,027 $51,709 $90,230 Available Fund Balance 6/30/24 $45,690 $2,027 $51,709 $90,230 10 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426 BAYVIEW DRIVE EQUIPMENT RESERVE INSURANCE REPLACEMENT TOTAL FUND FUND FUND (MEMORANDUM 619 705 715 ONLY) ESTIMATED REVENUE Taxes $0 $0 $0 $42,273,773 Licenses/Permits $0 $0 $0 $829,966 Fines/Forfeitures $0 $0 $0 $1,739,040 Use of Money/Property $788 $0 $0 $4,273,912 Intergovernmental/State $0 $0 $0 $2,245,777 Intergovernmental/County $0 $0 $0 $332,798 Intergovernmental/Federal $0 $0 $0 $2,012,399 Current Service Charges $0 $3,927,895 $1,989,281 $17,212,338 Other Revenue $0 $0 $0 $210,289 TOTAL ESTIMATED REVENUE $788 $3,927,895 $1,989,281 $71,130,293 INTERFUND TRANSFERS IN $0 $392,345 $337,424 $2,974,964 ESTIMATED FUNDS AVAILABLE $788 $4,320,240 $2,326,705 $74,105,256 FUND BALANCE 7/1/24 $5,512 $2,606,211 $11,446,142 $58,644,588 APPROPRIATIONS Capital Improvements $0 $0 $0 $9,988,759 TOTAL APPROPRIATIONS $0 $4,227,885 $3,476,799 $93,353,760 INTERFUND TRANSFERS OUT $0 $0 $0 $2,974,964 ADJUST FUND BALANCE FOR $619,129 $619,129 ESTIMATED FUND BALANCE 6/30/24 $6,300 $2,698,566 $10,915,177 $35,526,268 Designated Building Maintenance Funds $553,394 Investment in Fixed Assets $5,322,940 Assigned reserve for Police Department Radio Equipment/South Bay $30,000 Interoperability Project. Technology Records Fee $812,430 Assigned reserve for Accounting ERP $333,645 Available Fund Balance 6/30/24 $6,300 $2,698,566 $3,862,768 $10,970,237 11 DocuSign Envelope ID: 65A95E36-B357-49F9-900F-35820DBCD426