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HomeMy WebLinkAboutRES-25-7499 (FY 2025-2026 BUDGET)Page 1 of 2 RES-25-7499 CITY OF HERMOSA BEACH RESOLUTION NO. RES-25-7499 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, ADOPTING THE BUDGET FOR THE FISCAL YEAR 2025–26 WHEREAS, a budget for the fiscal year 2025–26 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 2025–26 Fiscal Year as presented in the documents entitled “City of Hermosa Beach Budget Summary 2025–26”, 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 24th day of June, 2025. Mayor Rob Saemann PRESIDENT of the City Council and MAYOR of the City of Hermosa Beach, CA Docusign Envelope ID: 1E15CDD7-EB40-46DF-925B-BC5C17230C9A Page 2 of 2 RES-25-7499 ATTEST: APPROVED AS TO FORM: _______________________________ ________________________________ Myra Maravilla Todd Leishman City Clerk Interim City Attorney Docusign Envelope ID: 1E15CDD7-EB40-46DF-925B-BC5C17230C9A City of Hermosa Beach Projected Change in Financial Position Fiscal Year 2025-2026 Beginning Supplemental / Projected Exhibit A Fund # Fund Fund Balance 07/01/2025 Fund Balance Reclass Estimated Revenues Labor Costs Operating Appropriations Capital Appropriations Transfers In / Transfers Out Fund Balance 06/30/2026 General Fund 001 Unassigned $ - $ 361,355 $ 55,121,394 $ 29,481,111 $ 23,755,740 $ 457,892 $ (1,788,006) $ - 001 Assigned - FY25 Midyear to FY26 Budget $ 169,305 $ (169,305) $ - $ - $ - $ - $ - $ - 001 Assigned - FY23 Prop A Fund Exchange $ 430,683 $ (48,211) $ - $ - $ - $ - $ - $ 382,472 001 Assigned - FY26 Prop A Fund Exchange $ 560,000 $ (560,000) $ - $ - $ - $ - $ - $ - 001 Assigned - Reserve for FEMA Claims $ 926,345 $ - $ - $ - $ - $ - $ - $ 926,345 001 Assigned - FY25 Year End Stablization Contingency $ 100,000 $ 560,000 $ - $ - $ - $ - $ - $ 660,000 001 Assigned - Compensated Absences $ 294,170 $ (143,839) $ - $ - $ - $ - $ 143,839 $ 294,170 001 Assigned - Contingencies $ 10,560,684 $ - $ - $ - $ - $ - $ 86,686 $ 10,647,370 001 Assigned - Retirement Trust $ 829,060 $ - $ - $ - $ - $ - $ - $ 829,060 001 Committed - In Lieu Fee/Parking facility $ 404,600 $ - $ - $ - $ - $ - $ - $ 404,600 001 Restricted - CASp Fees $ - $ - $ 7,800 $ - $ - $ - $ - $ 7,800 001 Restricted - General Plan $ 168,110 $ - $ 94,000 $ - $ 154,306 $ - $ - $ 107,804 001 Restricted - Marquee Donation $ 50,000 $ - $ - $ - $ - $ - $ - $ 50,000 001 Restricted - Nuisance Abatement Restrooms $ 14,700 $ - $ - $ - $ - $ - $ - $ 14,700 001 Restricted - PEG Funds $ 226,277 $ - $ 40,000 $ - $ - $ 9,130 $ - $ 257,147 Total General Fund $ 14,733,934 $ - $ 55,263,194 $ 29,481,111 $ 23,910,046 $ 467,022 $ (1,557,481) $ 14,581,468 Special Revenue Funds 105 Lighting & Landscaping Fund $ 4,408 $ - $ 468,079 $ 142,323 $ 716,219 $ - $ 389,281 $ 3,226 115 State Gas Tax Fund $ 70,126 $ - $ 1,123,501 $ 45,623 $ 150,000 $ 609,931 $ (350,000) $ 38,073 116 TDA 3 (Transportation Development Act) Fund $ - $ - $ 15,257 $ - $ - $ 15,257 $ - $ - 117 AB 939 Fund $ 165,351 $ - $ 68,773 $ - $ 23,500 $ - $ - $ 210,624 121 Prop A Open Space Fund $ (13,828) $ - $ 18,000 $ - $ - $ - $ - $ 4,172 122 Tyco Fund $ 399,482 $ - $ 352,770 $ - $ - $ 720,000 $ - $ 32,252 125 Parks / Recreation Facility Tax Fund $ 70,750 $ - $ 119,193 $ - $ - $ 70,000 $ - $ 119,943 135 Bayview Drive District Admin Expense Fd $ - $ - $ 194 $ - $ 1,900 $ - $ - $ (1,706) 138 Loma District Admins Expense Fd $ - $ - $ 1 $ - $ - $ - $ - $ 1 139 Beach Dr Assessment District Admin Expense $ - $ - $ 106 $ - $ - $ - $ - $ 106 140 CDBG Grant Fund $ 40,601 $ - $ 184,000 $ - $ - $ 184,000 $ - $ 40,601 145 Proposition A Fund $ 892,295 $ - $ 511,919 $ 3,865 $ 952,077 $ - $ - $ 448,272 146 Proposition C Fund $ 553,805 $ - $ 424,152 $ 33,990 $ 315,315 $ 603,807 $ - $ 24,845 147 Measure R Fund $ 277,702 $ - $ 314,157 $ 1,687 $ - $ 570,000 $ - $ 20,172 148 Measure M Fund $ 16,432 $ - $ 355,705 $ - $ - $ 370,000 $ - $ 2,137 149 Measure W Fund $ 310,159 $ - $ 158,305 $ 23,449 $ - $ - $ - $ 445,015 150 Grants Fund $ (437,896) $ - $ 185,300 $ - $ 115,000 $ 70,300 $ - $ (437,896) 152 AQMD Fund $ - $ - $ 25,575 $ - $ 15,000 $ - $ - $ 10,575 153 Supple. Law Enforce. Services (SLESF) Fund $ 391,573 $ - $ 161,191 $ - $ 126,133 $ - $ - $ 426,631 157 FEMA / CalOES Fund $ (623,629) $ - $ - $ - $ - $ - $ - $ (623,629) 160 Sewer Fund $ 752,272 $ - $ 1,316,714 $ 457,798 $ 502,558 $ 800,000 $ - $ 308,630 161 Storm Drain Fund $ 1,160,771 $ - $ 50,052 $ 481,892 $ 423,978 $ - $ 700,000 $ 1,004,953 170 Asset Seizure Fund $ 532,962 $ - $ 11,069 $ - $ 12,250 $ - $ - $ 531,781 180 Fire Protection Fund $ - $ - $ 4,166 $ - $ - $ - $ - $ 4,166 190 RTI Undersea Cable Fund $ 4,250 $ - $ 276,186 $ 84,993 $ - $ - $ - $ 195,443 191 RTI Tidelands Undersea Cable Fund $ 200,990 $ - $ 12,600 $ - $ - $ 200,000 $ - $ 13,590 Total Special Revenue Funds $ 4,768,576 $ - $ 6,156,965 $ 1,275,620 $ 3,353,930 $ 4,213,295 $ 739,281 $ 2,821,977 Docusign Envelope ID: 1E15CDD7-EB40-46DF-925B-BC5C17230C9A City of Hermosa Beach Projected Change in Financial Position Fiscal Year 2025-2026 Beginning Supplemental / Projected Exhibit A Fund # Fund Fund Balance 07/01/2025 Fund Balance Reclass Estimated Revenues Labor Costs Operating Appropriations Capital Appropriations Transfers In / Transfers Out Fund Balance 06/30/2026 Debt Service Funds 201 Lease Revenue Bond Fund $ 9,818 $ - $ - $ - $ 728,200 $ - $ 728,200 $ 9,818 Total Debt Service Funds $ 9,818 $ - $ - $ - $ 728,200 $ - $ 728,200 $ 9,818 Capital Projects Funds 301 Capital Improvement Project (CIP) Fund $ 6,644,278 $ - $ 181,685 $ 336,195 $ - $ 6,056,741 $ 90,000 $ 523,027 301 CIP Fund - Reserved for City Yard Construction $ 1,139,087 $ - $ - $ - $ - $ 249,809 $ - $ 889,278 301 CIP Fund - Reserved for Capital Facilities $ 841,393 $ - $ - $ - $ - $ 841,393 $ - $ - Total Capital Improvement Project Fund $ 8,624,758 $ - $ 181,685 313 Greenwich Village Utility Undergrounding $ 58,572 $ - $ 4,031,600 Total Capital Projects Funds $ 8,683,330 $ - $ 4,213,285 Agency Funds Internal Service Funds Total $ 42,241,552 $ - $ 71,927,893 $ 31,651,649 $ 34,779,910 $ 16,611,993 $ - $ 31,125,893 $ 336,195 $ - $ 7,147,943 $ 90,000 $ 1,412,305 $ - $ - $ 4,031,600 $ - $ 58,572 $ 336,195 $ - $ 11,179,543 $ 90,000 $ 1,470,877 609 Bayview Drive District Redemption Fund $ 97,934 $ - $ 1,842 $ - $ - $ - $ - $ 99,776 610 Lower Pier District Redemption Fund $ 3,470 $ - $ 96 $ - $ - $ - $ - $ 3,566 611 Beach Drive Redemption Fund $ 32,313 $ - $ 385 $ - $ - $ - $ - $ 32,698 612 Beach Drive Reserve Fund $ 5,056 $ - $ 141 $ - $ - $ - $ - $ 5,197 617 Mytrle Avenue Assessment Fund $ 51,709 $ - $ - $ - $ - $ - $ - $ 51,709 618 Loma Drive Assessment Fund $ 90,230 $ - $ - $ - $ - $ - $ - $ 90,230 619 Bayview Drive District Redemption Fund $ 16,397 $ - $ 463 $ - $ - $ - $ - $ 16,860 Total Agency Funds $ 297,109 $ - $ 2,927 $ - $ - $ - $ - $ 300,036 705 Insurance Fund $ 3,518,160 $ - $ 4,338,529 $ 202,151 $ 4,466,394 $ - $ - $ 3,188,144 715 Equipment Replacement Fund $ 3,208,216 $ - $ 1,850,436 $ 356,572 $ 2,321,340 $ 630,133 $ - $ 1,750,607 715 ERF - Investment in Fixed Assets $ 5,322,940 $ - $ - $ - $ - $ - $ - $ 5,322,940 715 ERF - Designated Building Maintenance Funds $ 553,394 $ - $ 102,557 $ - $ - $ 122,000 $ - $ 533,951 715 ERF - Assigned Reserve - PD Radio Equipment $ - $ - $ - $ - $ - $ - $ - $ - 715 ERF - Records Technology Fee $ 812,430 $ - $ - $ - $ - $ - $ - $ 812,430 715 ERF - Assigned Reserve - Accounting ERP $ 333,645 $ - $ - $ - $ - $ - $ - $ 333,645 Total Equipment Replacement Fund $ 10,230,625 $ - $ 1,952,993 $ 356,572 $ 2,321,340 $ 752,133 $ - $ 8,753,573 Total Internal Service Funds $ 13,748,785 $ - $ 6,291,522 $ 558,723 $ 6,787,734 $ 752,133 $ - $ 11,941,717 Docusign Envelope ID: 1E15CDD7-EB40-46DF-925B-BC5C17230C9A State of California ) County of Los Angeles ) ss City of Hermosa Beach ) June 24, 2025 Certification of Council Action RESOLUTION NO. RES-25-7499 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, ADOPTING THE BUDGET FOR THE FISCAL YEAR 2025–26 I, Myra Maravilla, City Clerk of the City of Hermosa Beach, do hereby certify that the above and foregoing Resolution No. RES-25-7499 was duly approved and adopted by the City Council of said City at its regular meeting thereof held on the 24th day of June 2025, and passed by the following vote: AYES: MAYOR SAEMANN, COUNCILMEMBERS KEEGAN, and FRANCOIS NOES: MAYOR PRO TEMPORE DETOY AND COUNCILMEMBER JACKSON ABSTAIN: NONE ABSENT: NONE ________________________________ Myra Maravilla, City Clerk Docusign Envelope ID: 1E15CDD7-EB40-46DF-925B-BC5C17230C9A