HomeMy WebLinkAboutAGENDA REPORT 2020 0513 SPC CC ITEM 09DCITY OF MOORPARK, CALIFORNIA
City Council Meeting
of May 13, 2020
ACTION Received the budget and set the
Budget W orkshop for Wednesday, May 27,
2020, at 6:00 p.m.
BY B.Garza.
D. Transmit the City Manager’s Proposed Operating and Capital Improvement
Budget for Fiscal Year 2020/21 and Set a Budget Workshop on May 27, 2020.
Staff Recommendation: Receive the budget and set budget workshop at 6:00
p.m. on Wednesday, May 27, 2020. (ROLL CALL VOTE REQUIRED) (Staff:
Troy Brown)
Item: 9.D.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Troy Brown, City Manager
BY: Kambiz Borhani, Finance Director
DATE: 05/13/2020 Special Meeting
SUBJECT: Transmit the City Manager’s Proposed Operating and Capital
Improvement Budget for Fiscal Year 2020/21 and Set a Budget
Workshop on May 27, 2020
BACKGROUND
The budget development process started on January 21, 2020. Over the past three
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
(FY) 2020/21 totals $42,371,987 in revenues and $57,427,071 in total expenditures.
The General Fund is balanced, however the full financial impacts to the City due to the
COVID-19 pandemic are unknown. Total budgeted revenues and programmed
expenditures of $19,135,942 make up the Operating Budget. A budget workshop,
scheduled on May 27, 2020, 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 FY 2020/21 totals
$42,371,987 in revenues and $57,427,071 in expenditures. Of the total expenditures
51.0% is attributed to operations including personnel, contract services, and
maintenance costs; 38.4% for capital acquisitions or improvement projects; 8.2% in
subsidies to other funds; and 2.4% for debt service. Due to the COVID-19 Pandemic
and various Health Orders issued by the California Governor and Ventura County
Health Officer, non-essential businesses in the City have been closed since March 19,
2020. As of the time of this staff report, these business, which provide substantial
resources for the City, are still closed. The FY 2020/21 Proposed Budget will require
constant monitoring and recalibration at the mid-year point of the fiscal year.
Item: 9.D.
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Honorable City Council
05/13/2020 Special Meeting
Page 2
PROPOSED BUDGET FY 2020/21
General Fund Special &
Capital Funds SARA MWPRCA TOTAL
Revenues
Taxes/Franchise Fees $13,950,500 $1,493,800 $1,613,186 $17,057,486
Intergovernment $2,149,373 $6,674,794 $6,900 $8,831,067
Charges for Services $1,409,369 $3,396,098 $4,805,467
Maint Assessments $3,132,766 $3,132,766
Others $1,626,700 $2,183,300 $3,810,000
Sub-total Operating Revenues $19,135,942 $16,880,758 $1,613,186 $6,900 $37,636,786
Transfers from $0 $3,122,015 $1,613,186 $4,735,201
Total Revenues $19,135,942 $20,002,773 $3,226,372 $6,900 $42,371,987
Expenditures
Operating $15,774,651 $13,231,922 $245,000 $6,900 $29,258,473
Capital $239,276 $21,816,860 $22,056,136
Debt Service $25,000 $1,352,261 $1,377,261
Sub-total Operating Expenses $16,013,927 $35,073,782 $1,597,261 $6,900 $52,691,870
Transfers to $3,122,015 $0 $1,613,186 $4,735,201
Total Expenditures $19,135,942 $35,073,782 $3,210,447 $6,900 $57,427,071
Net Period Surplus/(Deficit)$0 ($15,071,009)$15,925 $0 ($15,055,084)
Staff will present the proposed budget and respond to questions and inquiries regarding
the FY 2020/21 budget at the City Council Budget Workshop that is scheduled for
May 27, 2020.
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 27,
2020.
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