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Home My WebLink AboutAGENDA REPORT 2024 0619 CCSA REG ITEM 09ACITY OF MOORPARK, CALIFORNIA City Council Meeting of June 19, 2024 ACTION APPROVED STAFF RECOMMENDATIONS INCLUDING ADOPTION OF RESOLUTION NOS. 2024- 4250 AND 2024-4251. (ROLL CALL VOTE: UNANIMOUS) BY A. Hurtado. A. Consider City Manager’s Recommendation for Adoption of Resolution Approving Operating and Capital Improvement Budget for Fiscal Year (FY) 2024/25; and Consider Resolution Approving the Five-Year Capital Improvement Program for FY 2024/25 – 2028/29. Staff Recommendation: 1) Adopt Resolution No. 2024- 4250, approving the Operating and Capital Improvement Budget for the FY 2024/25; and 2) Adopt Resolution No. 2024-4251, approving the Five-Year Capital Improvement Program for FY 2024/25 – 2028/29. (Staff: Troy Brown, City Manager) (ROLL CALL VOTE REQUIRED) Item: 9.A. MOORPARK CITY COUNCIL AGENDA REPORT TO: Honorable City Council FROM: Troy Brown, City Manager BY: Hiromi Dever, Interim Finance Director DATE: 06/19/2024 Regular Meeting SUBJECT: Consider City Manager’s Recommendation for Adoption of Resolution Approving Operating and Capital Improvement Budget for Fiscal Year (FY) 2024/25; and Consider Resolution Approving the Five-Year Capital Improvement Program for FY 2024/25 – 2028/29 SUMMARY/BACKGROUND On May 1, 2024, the City Manager transmitted to City Council the recommended Operating and Capital Improvement Budget (Budget) for Fiscal Year (FY) 2024/25. The City Council held a public meeting (budget workshop) to review and discuss the Budget on May 22, 2024. At that meeting, staff presented to the City Council summary level narratives and analysis of the key elements of the Budget. The General Fund portion of the Budget is structurally balanced for operations and only uses reserves for one-time expenditures and capital projects, per City Council Financial Policies. The General Fund is projected to generate a surplus of $576,897 for FY 2024/25. In addition, on April 23, 2024, the City’s Planning Commission reviewed and approved the Five-Year Capital Improvement Program for FY 2024/25 – 2028/29 (CIP Program). The CIP Program is incorporated into the Budget document and is also presented as an action item for adoption. A summary of the operating budget is provided on the following page. Item: 9.A. 308 Honorable City Council 06/19/2024 Regular Meeting Page 2 FY 2024/25 Operating and capital Budget General fund Special Revenue Funds Capital Funds City Total Fiduciary Funds TOTAL Revenues 24,498,468 31,323,284 468,851 56,290,603 1,483,285 57,773,888 Transfer From 0 3,494,540 0 3,494,540 1,483,285 4,977,825 Subtotal Revenues 24,498,468 34,817,824 468,851 59,785,143 2,966,570 62,751,713 Expenditures (20,540,850) (44,076,913) (15,165,593) (79,783,356) (1,483,285) (81,266,641) Transfers To (3,381,721) (113,819)(3,495,540) (1,483,285) (4,978,825) Subtotal Expenditues (23,922,571) (44,190,732) (15,165,593) (83,278,896) (2,966,570) (86,245,466) Net Surplus / (Deficit)575,897 (9,372,908)(14,696,742) (23,493,753)0 (23,493,753) Fund Balance 71/23 1,499,393 58,963,534 38,463,718 98,926,645 (2,014,618)96,912,027 Fund Balance 6/30/24 2,075,290 49,590,626 23,766,976 75,432,892 (2,014,618)73,418,274 The purpose of this Staff Report is to provide City Council with a summary overview of the Budget process and final appropriations for adoption. The City maintains an annual budgeting process and adopts an Operating and Capital Improvement (CIP) Budget for each fiscal year. The City’s fiscal year begins July 1 and ends June 30. The budget process begins in January of each year, and involves strategic planning, input, and coordination among all departments. The proposed Budget for adoption is posted on the City’s website. Total FY 2024/25 revenues are projected at $62,751,713 versus total planned expenditures of $86,245,466. This will result in a one-year decline in total City fund balance of $23,493,753. This is due to the significant investment in City capital improvement projects. On a recurring operational basis, the City’s Budget is balanced. These figures include the City’s Fiduciary Fund activities relating to the Successor Agency to the Redevelopment Agency (SARA) and the Moorpark Watershed, Parks, Recreation and Conservation Authority (MWPRCA). While these funds are included in the Budget appropriations, these funds are held separate and apart from the City of Moorpark. The elevated level of projected expenditures reflects the City’s significant infrastructure investments planned for FY 2024/25. These include the funding for the new City Library and playground equipment improvements at various parks. ENVIRONMENTAL DETERMINATION This action is exempt from the California Environmental Quality Act (CEQA) as it does not constitute a project, as defined by Section 15378 of the State CEQA Guidelines. Therefore, no environmental review is required. 309 Honorable City Council 06/19/2024 Regular Meeting Page 3 FISCAL IMPACT The proposed FY 2024/25 Budget for adoption provides appropriation authority in all funds. The Budget anticipates $62,751,713 in total revenue and $86,245,466 in total expenditures. Excluding Fiduciary Funds, revenues and expenditures for the City’s account are $59,785,143 and $83,278,896, respectively. Total General Fund operational costs, including internal transfers of $3,380,721 are planned at $23,922,571. These costs are expected to be fully covered by operating revenues of $24,498,468, creating a balanced budget. COUNCIL GOAL COMPLIANCE The proposed Budget for adoption continues the City’s commitment to funding and achieving City Council’s primary goals and objectives. Significant funding throughout the Budget is directed towards the four primary goals City Council has previously outlined. STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED) 1. Adopt Resolution No. 2024-____, approving the Operating and Capital Improvement Budget for the FY 2024/25; and 2. Adopt Resolution No. 2024-____, approving the Five-Year Capital Improvement Program for FY 2024/25 – 2028/29. Attachment 1: Draft Resolution No. 2024-_____ approving the Operating and Capital Improvement Budget for the FY 2024/25 Attachment 2: Draft Resolution No. 2024-_____ approving the Five-Year Capital Improvement Program for FY 2024/25 – 2028/29 310 RESOLUTION NO. 2024-____ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, ADOPTING THE OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR THE CITY OF MOORPARK FOR THE FISCAL YEAR 2024/25 WHEREAS, on May 1, 2024, the City Manager’s Proposed Operating and Capital Improvement Budget for Fiscal Year 2024/25 was submitted to the City Council for its review and consideration; and WHEREAS, the City Council has provided the opportunity for public comment at a public meeting held on May 22, 2024, and conducted detailed review of expenditure proposals; and WHEREAS, as the result of the reviews and analysis, expenditure proposals and revenue projections have been modified as needed. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Operating and Capital Improvement Budget for Fiscal Year 2024/25 (beginning July 1, 2024) for the City of Moorpark containing operating and capital expenditures and anticipated revenues is attached and incorporated herein, shall be adopted as the City of Moorpark’s Operating and Capital Improvement Budget for Fiscal Year 2024/25. SECTION 2. The City Manager is authorized to amend the Capital Improvement Budget for Fiscal Year 2024/25 at the conclusion of Fiscal Year 2023/24 when a final accounting of project costs during the Fiscal Year 2023/24 is completed and continuing appropriations are determined if the total project appropriation authorized by the City Council is not exceeded. SECTION 3. The City Manager is authorized to approve appropriation transfers within departments and within individual funds as required to provide efficient and economical services, if the total department appropriation and fund appropriation authorized by the City Council is not exceeded. SECTION 4. Except as otherwise provided in this resolution, amendments to the appropriations in Fiscal Year 2024/25 Operating and Capital Improvement Budget shall require Council action by resolution. SECTION 5. The City Manager is authorized to make such emergency appropriations as may be necessary to address emergency needs of the city, provided that the appropriation is presented to the City Council at its next regularly scheduled meeting, or special meeting, if necessary, for ratification. ATTACHMENT 1 311 Resolution No. 2024-______ Page 2 SECTION 6. The budget approval is being done for City internal governance purposes and the approval of the Recognized Obligation Payment Schedule (ROPS) by the Oversight Board, and the State of California Department of Finance's (DOF) allowance of costs in the ROPS defined the parameters of the Successor Agency administrative and operating budget for the period of the ROPS. The Successor Agency understands that the annual budget may be modified should the ROPS be amended. SECTION 7. The City Clerk shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original resolutions. PASSED AND ADOPTED this 19th day of June, 2024. __________________________ Chris R. Enegren, Mayor ATTEST: ___________________________________ Ky Spangler, City Clerk Attachment: City Manager’s Operating and Capital Improvement Budget FY 2024/25 312 Resolution No. 2024-______ Page 3 Attachment: City Manager’s Operating and Capital Improvement Budget FY 2024/25 The City Manager’s Operating and Capital Improvement Budget for the City of Moorpark for Fiscal Year 2024/25 is On File with the City Clerk 313 RESOLUTION NO. 2024-____ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, APPROVING THE FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEAR (FY) 2024/25 – 2028/29 WHEREAS, a proposed Capital Improvement Program (CIP) for FY 2024/25 – 2028/29 has been presented to City Council; and WHEREAS, the CIP is a planning and programming tool to identify the City’s capital projects planned over the next five years related to Public Works, Parks, Recreation and Community Services, and their funding sources; and WHEREAS, pursuant to California Government Code Section 65401, on April 23, 2024, the Moorpark Planning Commission found the CIP to be in conformance with the Moorpark General Plan,; and WHEREAS, pursuant to California Government Code Section 65402, on April 23, 2024, the Moorpark Planning Commission also found the planned acquisition of street right-of-way for certain specified projects described in the CIP to be in conformance with the Moorpark General Plan. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The April 23, 2024, finding of the Moorpark Planning Commission that the Five-Year CIP is in conformance with the Moorpark General Plan, pursuant to California Government Code Section 65401, is adopted. SECTION 2. The April 23, 2024, finding of the Moorpark Planning Commission that the planned acquisition of street right-of-way for certain specified projects described in the CIP is in conformance with the Moorpark General Plan, , pursuant to California Government Code Section 65402, is adopted. SECTION 3. The Five-Year Capital Improvement Program for FY 2024/25 – FY 2028/29, which is incorporated into and a part of the City Manager’s Operating and Capital Improvement Budget FY 2024/25, is approved. SECTION 4. The City Clerk shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original resolutions. PASSED AND ADOPTED this 19th day of June, 2024. ATTACHMENT 2 314 Resolution No. 2024-_____ Page 2 Chris R. Enegren, Mayor ATTEST: Ky Spangler, City Clerk 315 Resolution No. 2024-_____ Page 3 Attachment: City Manager’s Operating and Capital Improvement Budget FY 2024/25 and Capital Improvement Program for Fiscal Years 2024/25 – 2028/29 The City Manager’s Operating and Capital Improvement Budget for the City of Moorpark for Fiscal Year 2024/25 and Capital Improvement Program for Fiscal Years 2024/25 – 2028/29 are On File with the City Clerk 316