HomeMy WebLinkAboutAGENDA REPORT 2019 0515 REG CCSA ITEM 09DCITY OF MOORPARK,
CALIFORNIA
City Council Meeting
of May 15, 2019
ACTION Received the Budget
and Set the Budget Workshop
for Wednesday, May 29, 2019,
at 6:30 P.M.
BY B.Garza
D. Transmit the City Manager’s Proposed Operating and Capital Improvement
Budget for Fiscal Year 2019/2020 and Set a Budget Workshop on May 29, 2019.
Staff Recommendation: Receive the budget and set budget workshop at 6:00
p.m. on Wednesday, May 29, 2019. (Staff: Troy Brown)
Item: 9.D.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Troy Brown, City Manager
Irmina Lumbad, Interim Finance Director
DATE: 05/15/2019 Regular Meeting
SUBJECT: Transmit the City Manager’s Proposed Operating and Capital
Improvement Budget for Fiscal Year 2019/2020 and Set a Budget
Workshop on May 29, 2019
BACKGROUND
The budget development process started at the end of January 2019. Over the past 3
months, staff has worked to produce a budget that balances the City’s limited revenue
sources against the proposed expenditures, which are consistent with City Council’s
goals/objectives. The City Manager’s Proposed Budget for the upcoming fiscal year
2019/2020 totals $42,018,719 in revenues and $58,281,965 in total expenditures. The
General Fund’s total budgeted revenues of $19,664,901 is programmed to support the
bulk of city services, with total expenditures of $19,595,437. The General Fund will have
a net operating surplus of under $70,000. A budget workshop, scheduled at 6:00 p.m.
on May 29, 2019, provides the City Council and the public an opportunity to review and
revise the budget document before its final adoption.
DISCUSSION
The City Manager’s Proposed Budget for the City of Moorpark and the Successor
Agency to the Redevelopment Agency of the City of Moorpark for the fiscal year
2019/2020 totals $42,018,719 in revenues and $58,281,965 in expenditures. The net
period deficit of $16,263,246 will be supported by reserves from various Special
Revenue and Capital funds. Of the total expenditures 51% is attributed to operations
including personnel, contract services and maintenance costs; 38% for capital
acquisitions or improvement projects; 9% subsidies to other funds and 2% for debt
service.
Item: 9.D.
369
Honorable City Council
05/15/2019 Regular Meeting
Page 2
PROPOSED BUDGET FY 2019/2020
General Fund*
(including
Library)
Special &
Capital
Funds SARA MWPRCA TOTAL
Revenues
Taxes/Franchise Fees $15,480,000 $445,000 $1,691,336 $17,616,336
Intergovernment $2,142,901 $6,369,344 $6,900 $8,519,145
Charges for Services $1,599,500 $2,582,600 $4,182,100
Maint Assessments $2,491,150 $2,491,150
Others $1,518,500 $2,470,100 $3,988,600
Sub-total Operating Revenues $20,740,901 $14,358,194 $1,691,336 $6,900 $36,797,331
Transfers from $0 $3,530,052 $1,691,336 $5,221,388
Total Revenues $20,740,901 $17,888,246 $3,382,672 $6,900 $42,018,719
Expenditures
Operating $17,079,229 $12,287,482 $325,000 $6,900 $29,698,611
Capital $267,093 $21,720,237 $21,987,330
Debt Service $25,000 $1,349,636 $1,374,636
Sub-total Operating Expenses $17,346,322 $34,032,719 $1,674,636 $6,900 $53,060,577
Transfers to $3,322,482 $207,570 $1,691,336 $5,221,388
Total Expenditures $20,668,804 $34,240,289 $3,365,972 $6,900 $58,281,965
Net Period Surplus/(Deficit)$72,097 ($16,352,043)$16,700 $0 ($16,263,246)
* General Fund (1000) net period surplus $69,464; while Library Fund (1010) net period surplus is $2,633.
The draft budget document will be provided under separate cover. Staff will present the
proposed budget and respond to questions and inquiries regarding the FY 2019/2020
budget at the City Council Budget Workshop that is scheduled for May 29th.
FISCAL IMPACT
No fiscal impact is associated with the transmittal of budget and setting of the budget
workshop date.
STAFF RECOMMENDATION
Receive the budget and set budget workshop at 6:00 p.m. on Wednesday, May 29,
2019.
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