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HomeMy WebLinkAboutAGENDA REPORT 2010 0217 CC REG ITEM 09B ITEM 9.13. CITY OF MOORPARK,CALIFORNir City Council Mooting MOORPARK CITY COUNCIL of AGENDA REPORT o2- 'vZ0/O ACTION: u gtwe TO: Honorable City Council FROM: Ron Ahlers, Finance Director Q DATE: February 5, 2010 (City Council meeting of February 17, 2010) SUBJECT: Consider Fiscal Year 2009/10 Mid-Year Budget Report BACKGROUND The City Council adopted a budget for FY 2009/10 on July 1, 2009. This report will analyze certain major funds of the City for this current fiscal year, considering the fact that we have closed the books for the first six months. Attachment A to this report is a spreadsheet showing the summary Revenues and Expenses for three major funds of the City of Moorpark: General Fund, Community Development, and Parks Maintenance. Attachment B details three funds which comprise the Streets and Transit funds of the City, which include Local Transportation Funds and Gas Tax. Attachment C details the General Fund revenues and expenditures. In particular Parks Maintenance and Community Development operations require significant General Fund contributions in FY 2009/10. DISCUSSION Attachment A shows three major funds of the City and their current year financial status. The General Fund will be discussed in detail in Attachment C. The 2009/10 General Fund budget as adopted included a projected $260,000 surplus, which was to be available as a contingency, if needed. The Community Development Fund began the fiscal year with a zero fund balance. Revenues, including budgeted General Fund transfer of $1,038,000, are currently estimated at $1,786,000 which is less than the original budget of $2,185,000. Expenses are currently estimated at $1,724,000 which is below the original estimate of $2,183,000. This produces an estimated surplus of $62,000. This fund will finish this year with a zero fund balance with a downward adjustment of the General Fund transfer to ensure a zero fund balance. As a reminder, last year's General Fund transfer was $1,163,000. For the foreseeable future, this fund will require over $1 million to be transferred by the General Fund each year. 68 Honorable City Council February 17, 2010 Page 2 The Parks Maintenance Fund began this fiscal year with a zero fund balance. This fund is projected to have a surplus of $157,000 this year {includes the General Fund transfer of $1,139,000}. We will adjust the General Fund transfer into Parks Maintenance to keep the fund balance at zero. The Park Maintenance Fund is designed to have zero fund balance at year end. As was the case with the Community Development Fund, the Parks Maintenance Fund will continue to have a General Fund contribution of approximately $1 million annually. Costs continue to increase in parks maintenance: water rates increased 16% on January 1, 2010, and the Poindexter Park expansion, Veterans Memorial, and Mammoth Highlands Park were opened within the previous nine months. The Moorpark Redevelopment Agency has a number of issues affecting its financial well-being. The foremost of which is the State of California "taking" tax increment dollars this year and next: $1,925,000 this current fiscal year, 2009/10 and $396,000 next fiscal year, 2010/11. These amounts shall be placed in the Supplemental Educational Revenue Augmentation Fund {SERAF}. As you'll recall, last fiscal year, 2008/09 the State tried to take $396,000 from the Agency. However, the California Redevelopment Association {CRA} prevailed in a lawsuit that deemed this "taking" unconstitutional. The CRA has filed another lawsuit for this current taking. The first hearing is scheduled in February 2010. If the CRA lawsuit fails or there is not an outcome in time, the Agency is required to make the $1.9 million payment by May 10, 2010. The second issue for the Agency revolves around the pass-through agreements with other taxing agencies. These agreements require the Agency to pay a large percentage of each tax increment dollar to the other governmental units: County receives approximately 55%; Moorpark Unified School District receives approximately 5% and others 1%. The pass-through payments, along with the 20% housing set-aside requirement, leave less than 20% of the gross tax increment for the agency to pay for operational costs, debt service, economic development and capital projects. A separate report will be presented to the Agency detailing various options that the Agency can implement in order to deal with the financial challenges with redevelopment funds. The table on the following page summarizes where the tax increment dollar is spent. Gross tax increment is approximately $7 million. The three bond issues require an annual payment of approximately $1.9 million; leaving $5.1 million. The 20% set-aside for housing requires $1.4 million; leaving $3.7 million. The pass-through payments require $3.1 million; leaving $0.6 million. The state taking of SERAF requires $1.9 million; leaving a negative $1.3 million. Annual operating costs of approximately $1.4 million; leaving a negative $2.7 million for fiscal year 2009/10. The Agency has sufficient reserves for the year and fiscal year 2010/11 to cover this, but will run out of its reserves in fiscal year 2011/12 unless certain actions are taken. Staff will be proposing a number of options for the Agency to consider in order to address these issues. 69 Honorable City Council February 17, 2010 Page 3 2009/10 _ Estimate GROSS Tax Increment {T.I.) 7,035,000 Less: Bond Debt Service 1999 Bond Interest 279,460 1999 Bond Principal 475,000 2001 Bond Interest 588,469 2001 Bond Principal 20,000 2006 Bond Interest 508,163 2006 Bond Principal 0 sub-total Bond Debt Service 1,871,092 Net T.I. Available 5,163,908 20% Housinq 20% Housing Set-Aside 1,407,000 Net T.I. Available 3,756,908 Pass-Thrus Ventura County 2,735,000 Moorpark Unified Schools 340,000 Ventura Colleges 60,000 Ventura County Superintendent of Schools 2,000 sub-total Pass-Thrus 3,137,000 Net T.I. Available 619,908 S E R A F AUTHORIZED Taking by the State 1,923,315 Net T.I. Available for Operations (1,303,407) OPERATIONS * 1,370,000 Net T.I. Available for Projects 2,673,407 * Does not include money for projects * Attachment B details three funds which comprise the Streets and Transit funds of the City. The Local Transportation 8A Fund is projected to use $611,000 of its' reserve this year, decreasing its available fund balance to $201,000 at 6/30/2010. This fund transfers $1.2 million to the Gas Tax Fund this year. This fund pays zero in overhead charges and zero in cost plan charges to the General Fund. The original budget estimated the ending fund balance at $151,000. The difference is due to not spending 70 Honorable City Council February 17, 2010 Page 4 on capital projects as quickly as we had planned. These projects are listed later in this report. The City was recently notified by VCTC that our allocation from Local Transportation Fund Article 8 will be reduced by $114,000 this current fiscal year. We have made these adjustments in our estimates. The Gas Tax Fund is projected to use $112,000 of its reserves this year, decreasing its available fund balance to $338,000. The original budget estimated the ending fund balance at $183,000. Again, we have savings in capital projects this fiscal year. These projects are listed later in this report. Annual Gas Tax revenues amount to approximately $600,000, while the annual salary and benefits are approximately $680,000. Therefore, the revenue for this fund does not pay for the salary & benefit costs. This fund needs the transfer from the Local Transportation 8A (streets and roads) fund in order to pay for the operations and maintenance along with capital improvement costs. Additionally, the Areas of Contribution Funds transfer funds when warranted for capital projects. Overhead charges are estimated at $69,000 this year while the estimate for cost plan charges is $583,000. This fund provides funding for the following employees: Administrative Assistant .58 Administrative Assistant .02 Assistant City Engineer .90 Assistant Engineer .60 City Engineer .50 Crossing Guard Supervisor .40 Maintenance Worker III .46 Maintenance Worker III .80 Public Works Superintendent .85 Senior Maintenance Worker 1.00 z' Total Positions 6.11 This position is currently vacant and will not be filled in the foreseeable future. The Governor's proposed budget for fiscal year 2010/11 includes reductions to local transportation programs. This could result in the loss of over $100,000 for street programs. If the Governor's proposal to reduce sales tax on fuel and increase the state excise tax is implemented, the City could lose another $150,000 of funding for street programs. Additionally, by July 1, 2014, SIB 716 would curtail any expenditure for street and road purposes from these transportation funds. The Local Transit Programs Fund will use $45,000 of its reserves by year-end, thus decreasing its fund balance to a negative $46,000 at June 30, 2010. This utilization of the reserves matches the original budget estimate; however, the beginning fund balance was estimated at positive $180,000 but was actually zero. This deficit will be 71 Honorable City Council February 17, 2010 Page 5 covered by transferring funds from the Local Transportation 8A Fund. This fund pays zero in overhead charges and $142,000 in cost plan charges. This fund also supports city employees, with a salary & benefit cost of approximately $108,000 annually. Administrative Assistant .10 City Engineer .10 Senior Management Analyst .70 Total Positions 0.90 Therefore, the total combined fund balance for streets (Local Transportation Funds and Gas Tax) is projected to be a positive $494,000 at June 30, 2010. Next year's budgetary revenue projections will show a decrease in Local Transportation Fund Article 8 revenue as noted above. Gas Tax revenue is projected to stay stable since these monies are based on the volume of gas sold in the state and not on the price. Total combined revenues for Gas Tax and Local Transportation Funds (transit and streets) project out at $1,521,000. The operating costs are $2,418,000 (includes $69,000 for overhead charges and $725,000 for cost plan charges back to the General Fund). This computes to a projected deficit of $897,000. This leaves zero funding for capital projects, leaving several million dollars of unfunded projects. In FY 2009/10 about $450,000 of City Engineer/Public Works department expenditures were funded directly by the General Fund and another $44,000 by the Traffic Safety Fund and the Crossing Guard Fund. In addition about $400,000 in deferred transit revenue has been used in FY 2007/08 and 2008/09. We currently have over $100,000 in deferred revenue remaining. We can anticipate further reductions in revenue for FY 2009/10. We have several capital projects that are budgeted out of these three funds, which can be reduced or eliminated if the funds are needed for other purposes. No. Description Fund 2009/10 Spent Projected Remaining Approp. 12-31-2009 Expense Approp. 8071 Bus Shelters Local Transit 67,618 0 20,000 47,618 Programs 8073 Metro Link Local Transit 87,638 0 87,638 0 Station Security Programs 155,256 0 107,638 47,618 72 Honorable City Council February 17, 2010 Page 6 Attachment C details the General Fund revenues and expenses. General Fund Fiscal Year 2008109 As a reminder, last fiscal year, 2008/09, the General Fund began the year with $3.6 million in reserves and it finished the year with a surplus of $1.4 million. Complying with the City Council policy, the General Fund transferred out $2.0 million to the Special Projects Fund at fiscal year-end. This left the General Fund with $3.0 million in reserves on June 30, 2009. General Fund Revenues 2009110 The General Fund has several primary revenues that comprise the majority of the money received during the fiscal year. The table below depicts a short history of these revenue sources and the downward trend for this current fiscal year and next. As you can discern, the forecasted revenues for FY 2010/11 approximate the amounts we received in FY 2006-07. The amounts are shown in millions of dollars. 2009-10 2009-10 2005-06 2006-07 2007-08 2008-09 Original Revised 2010-11 Actuals Actuals Actuals Actuals Budget Estimate forecast Prop Tax-current 2.36 2.80 3.03 3.02 3.15 3.00 2.90 Prop Tax-VLF 2.51 2.63 2.88 2.96 2.83 2.92 2.80 Sales Tax 2.08 2.19 2.31 2.33 2.18 2.18 2.18 Sales Tax Comp. 0.61 0.70 0.78 0.85 0.83 0.59 0.73 Cost Plan 1.42 1.65 1.70 1.81 2.10 2.10 2.10 Franchises 1.09 1.13 1.15 1.17 1.17 1.19 1.19 Interest 0.57 1.14 0.78 0.72 1 0.50 0.50 1 0.55 sub-total 10.64 12.24 12.63 12.86 1 12.76 12.48 12.45 Property Taxes: The City receipted $3,025,000 in fiscal year 2008/09 for current secured property taxes. We budgeted $3,150,000 this current fiscal year. Our estimate today is $3,000,000. The unsecured portion will be $40,000. The prior year secured is currently $58,000. As home prices fall and the volume of sales declines, we expect to see decreases in supplemental secured and real property transfer tax. Last fiscal year we began recording the ERAF {Educational Revenue Augmentation Fund} in lieu of VLF {Vehicle License Fee} as property taxes. You'll recall that Governor Schwarzenegger reduced the VLF from 2.0% of a car's value down to 0.6%. This reduction mainly affected cities and counties. The reduction in revenue from VLF was replaced by the State with property tax revenue from the County's ERAF. This is really property tax revenue and has been since 2004-05. The annual increase/decrease is based on the city's assessed value, not on VLF revenue. This year's allocation is $2,920,000; we originally budgeted $2,825,000. 73 Honorable City Council February 17, 2010 Page 7 Sales Taxes are particularly difficult to estimate; good economy, bad economy, it doesn't matter. Last fiscal year Sales Taxes amounted to $2.3 million. The original budget estimate for this year is $2,175,000, a decline of $155,000 or 7%. We have good data for the first quarter of this fiscal year; but we are estimating the other three quarters. Our current estimate remains the same at $2,175,000. Next year's estimate will remain at the same amount; we are not estimating growth, nor a decline for next fiscal year. The reasons for the stable outlook are: fuel price increase of 8%, general consumer goods increase of 2%, decreases due to certain accounting adjustments that occurred this fiscal year. SALES TAX RECEIPTS Variance 2008-09 2009-10 Dollars Percent 1 st Quarter 620,486 552,069 (68,417) (11.0 %) 2nd Quarter 596,133 572,931 * (23,202) (3.9 %) 3rd Quarter 502,939 480,000 * (22,939) (4.6 %) 4th Quarter 598,700 570,000 * (28,700) (4.8 %) $ 2,318,258 $ 2,175,000 ($ 143,258) (6.2 %) * Estimate Sales and Use Tax Compensation Fund ("Triple Flip backfill") is directly allocated by the State of California, BOE {Board of Equalization) through the counties. It is actually money from property taxes, ERAF specifically. In fiscal year 2004/05, the State issued deficit reduction bonds by "reducing" the City's allocation of Sales Tax from 1.0% to 0.75%. This 0.25% Sales Tax is the revenue stream which pays the deficit reduction bonds. The State then "backfilled" this money to the cities with ERAF money. The bonds are scheduled to be paid off in 2016 and the cities sales tax allocation shall revert to 1.0%. This year's allocation of $589,000 has been verified with Ventura County and we received one-half of the amount in late January 2010 with the other half due in May 2010. Last fiscal year the City receipted $849,000, a decrease of $260,000. Next year we project an increase of $136,000 to $725,000. The increase is attributable to the "true-up" from this current year's estimate from the State. Franchise Fees, Licenses & Permits and Fines & Forfeitures show no significant variances from the prior years. Interest earnings are declining due to the interest rate market that we are experiencing. These are horrible interest rates to be earning on our investments. Last year the General Fund earned $720,000 in interest. This year's original budget estimate was 74 Honorable City Council February 17, 2010 Page 8 $498,000. Our current estimate is $498,000. Rates have begun to rise therefore next year's estimate will be greater than this year, but not significantly. Motor Vehicle in Lieu (VLF), as mentioned above, has been recorded in the property tax section. The net effect of VLF is that we receive an "equivalent" amount in property taxes from the County ERAF. However, the City continues to receive a nominal amount from the State's vehicle license fees. The State has been slowly using this revenue for its own operations. We originally estimated this amount at $100,000; our revised estimate is $75,000. General Fund, Other Revenues recorded $2,547,000 last fiscal year. This year's original budget estimated $2,269,000. Cost plan revenues make up the majority of this revenue at $2,102,000. Charges for Services show a slight decrease from last fiscal year. Revenues for the current year are estimated to be approximately $14.9 million, a decrease of$1,184,000 or 7% from last fiscal year. Next year's estimate, at this point in time, shows a decrease to $14.8 million. A decline of $62,000 or 0.4% from the current year's revised estimate. General Fund Expenditures 2009110 Salaries & Benefits for the employees comprise 29% of the General Fund expenditures. All of the salary & benefit categories are showing within budget. We shall have an on- going contribution of approximately $16,000 each year for retiree medical costs {OPEB}. The largest item in the budget is the police contract. This contract is approximately $5.9 million plus $0.6 million in support costs each year and represents 51% of the General Fund revenues. At the mid-point in the fiscal year, we are under budget and shall end the year under budget as well. We have not yet heard what increases the County may place on our police contract for next fiscal year, but we are estimating the contract to increase by 3% to 4%, much of it attributed to retirement plan investment losses. The remaining categories are looking to be within their budgeted amounts. This current year the General Fund is transferring out over $2.1 million to other funds: ➢ $ 982,000 to Park Maintenance Fund ➢ $ 955,000 to Community Development Fund ➢ $ 129,000 to Lighting & Landscaping Assessment Districts ➢ $ 40,000 to Engineering/Public Works Fund 75 Honorable City Council February 17, 2010 Page 9 General Fund Summary Please note the General Fund surplus/deficit for the first six months is a negative $55,000 {under the 2009-10 Actuals 12-31-09 column}. By the end of this current fiscal year, the surplus is estimated to be a positive $303,000. The Community Development Fund will finish this year with a zero fund balance. This fund needs to increase its' fees in order to return to a healthy fiscal condition. This fund should be paying its own way. Currently, the General Fund is transferring over $1 million to this fund annually. We are projecting that next fiscal year; this fund will require the same size of subsidy from the General Fund. The same concern exists with the Lighting & Landscaping Assessment Districts. These districts should be self-supporting, with the affected property owners paying for the annual cost of maintenance and operations. The General Fund and Gas Tax Fund subsidize these districts each year in the amounts of $129,000 and $229,000 respectively; more subsidy shall be required next fiscal year. In addition, with the decline in interest earnings, the subsidy from the General Fund and Gas Tax Fund has increased. Each June the City Council sets the assessments for the coming fiscal year for these assessment districts. Next fiscal year, the General Fund will show a decrease of approximately $62,000 in revenue. Our major revenue sources are expected to decrease next year: Property Tax, Sales Tax, Interest Revenue and VLF are all projected to be flat or decline slightly in fiscal year 2010/11. Next year expenses will increase for the Police contract with Ventura County; the increase for other expenses can be more easily controlled. We are currently preparing next year's budget and will be submitting a report to Council in the near future. Staff will evaluate ways to address the expected shortfall, including expenditure reductions, revenue increases and use of General Fund surplus. This shortfall could be as much as $500,000. This represents approximately 3.3% of General Fund revenues. This is a manageable shortfall for next year. 76 Honorable City Council February 17, 2010 Page 10 GENERAL FUND Available fund balance from FY 2008/09 surplus 1,358,000 Fiscal Year 2009/10 surplus (estimate) 303,000 Available fund balance July 1, 2010 1,661,000 Fiscal Year 2010111 Proiections Beginning surplus from FY 2009/10 260,000 Budgetary Revenue decrease (497,000) Budgetary Police Contract 3.5% increase (200,000) (437,000) NOTE: Pre-City Manger budget preparation and recommendation In summary 1. The General Fund operating surplus for FY 2009/10 is projected at $303,000. Estimated revenues are $435,000 less than originally budgeted. Estimated expenses are $478,000 less than the original budget. The majority of this savings is from the Police department at $380,000. These revised estimates, when added to the original budget surplus of $260,000, gives us the revised surplus of$303,000. 2. The General Fund ended FY 2008/09 with a surplus of $1,358,000. This is more surplus than projected at the time the FY 2008/09 Budget was adopted; estimate was $476,000. 3. General Fund Revenues for FY 2009/10 are estimated to be about $1,184,000 million less than FY 2008/09. We originally estimated revenues at $15,332,000 for FY 2009/10; current estimate is $14,897,000; a decrease of $435,000 or 3%. Our preliminary estimates for revenues in FY 2010/11 are $14,835,000; a decrease of $62,000 or less than '/2% from the prior year. The City actually received $16,081,000 in FY 2008/09; the estimate for FY 2010/11 is $14,835,000, a decrease of $1,246,000 or 8%. Revenues in FY 2010/11 are about the same as revenues in FY 2006/07. Expenditure costs continue to increase due to external factors: Public Safety contract increases, utility rate increases (electric and water), benefit cost increases (medical & dental), insurance increases (workers compensation & general liability), etc. {refer to Attachment C). 4. Estimated FY 2009/10 combined Gas Tax and Local Transportation Funds (Streets and Transit) revenue of about $1,741,000 is $352,000 less than FY 2008/09; currently requires over $680,000 in personnel costs with the balance 77 Honorable City Council February 17, 2010 Page 11 for transit and street operation costs. The $500,000 of deferred transit revenue will be spent by 6/30/2010. This leaves little or no money for capital projects such as street overlays. 5. Based on current projected expenditure levels, without any cost reduction measures, combined with projected General Fund revenue decrease, the General Fund is projected to face an approximate $437,000 shortfall in FY 2010/11. This shortfall is manageable and we have a number of options to balance the budget for FY 2010/11. This projected deficit includes: a slight decrease in General Fund revenues; a 3.5% increase to the Public Safety contract with the County Sheriffs, no cost of living adjustments for city employees and all other costs at the same level as FY 2009/10. The General Fund could be impacted by the Moorpark Redevelopment Agency {MRA} as it reduces or shifts costs to other funds or if the State is successful in taking MRA tax increment revenues. The General Fund could receive less money from the cost plan or the annual loan to the MRA. This could add $100,000 to $250,000 to the projected General Fund deficit. The department managers are well aware of the current financial situation and their budget submittals will reflect such. In addition, all potential expenditure reductions will be evaluated and presented to the City Council as part of the Budget submittal in May 2010. The decline in General Fund development related and Transit/Streets revenue and accompanying need to restrain spending is recognized as a multi-year concern and the proposed FY 2010/11 Budget will be presented with this in mind. STAFF RECOMMENDATION Receive and file report. Attachments: A. Revenue & Expenditures Summary — Major Funds B. Revenue & Expenditures Summary — Street & Transit Funds C. General Fund Financials Summary 78 Hnance 21y/2u1u CITY of MOORPARK Attachment A Page 1 of 2 REVENUE & EXPENDITURES SUMMARY MAJOR FUNDS GENERAL FUND 1000 COMMUNITY DEVELOPMENT 2200 2009-10 2009-10 2009-10 2009-10 2009-10 2009-10 Original Current Actuals 2009-10' Variance Original Current Actuals 2009-10 Variance Budget Budget 12-31-09 Projected' Budget Budget 12-31-09 Projected REVENUES TOTAL REVENUES S 15,332,000 S 15,332,000 $5,050,636 S 14,897,000 ($435,000) $2,185,000 $2,185,000 S394,214 S 1,786,000 (S399,000) EXPENDITURES City Council 136,667 136,667 67,252 131,000 5,667 City Manager 1,062,092 1,065,092 434,362 1,025,000 40,092 Administrative Services 1,206,609 1,259,609 548,295 1,212,000 47,609 City Attorney 41,800 41,800 10,224 40,000 1,800 Finance 941,061 941,061 497,749 935,000 6,061 - Community Development 1,070,087 1,070,087 37,035 1,070,000 87 2,183,143 2,183,143 871,313 1,724,000 459,143 Parks 3,812,199 3,843,476 999,748 3,698,000 145,476 - Public Works 450,018 550,018 95,028 529,000 21,018 Public Safety 6,351,760 6,351,760 2,415,937 5,954,000 397,760 - TOTAL EXPENDITURES S 15,072,293 S 15,259,570 $5,105,630 S 14,594,000 S665,570 $2,183,143 $2,183,143 S871,313 S 1,724,000 $459,143 SURPLUS or (DEFICIT) S303,000 $62,000 BEGINNING FUND BALANCE $2,999,950 ENDING FUND BALANCE $3,302,950 $62,000 J rinance uvauru Page 2 of 2 CITY of MOORPARK Attachment A REVENUE & EXPENDITURES SUMMARY MAJOR FUNDS PARKS MAINTENANCE 2400 2009-10 2009-10 2009-10 2009-10 Original Original Actuals Variance Budget Budget 12-31-09 Projected: REVENUES TOTAL REVENUES S 1,907,000 S 1,907,000 $4129914 S 1,907,000 - EXPENDITURES City Council City Manager Administrative Services City Attorney Finance Community Development Parks 1,906,999 1,905,999 707,721 1,750,000 155,999 Public Works - Public Safety - TOTAL EXPENDITURES S 1,906,999 S 1,905,999 $707,721 S 1,750,000 $ 155,999 SURPLUS or (DEFICIT) S 157,000 BEGINNING FUND BALANCE ENDING FUND BALANCE S 157,000 QO O rinance ayizuiu CITY of MOORPARK Attachment B Page 1 of 2 REVENUE & EXPENDITURES SUMMARY STREET & TRANSPORTATION FUNDS I LOCAL TRANSPORTATION 8A.2603 GAS TAX 2605 2009-10 2009-10 2009-10 2009-10 2009-10 2009-10 2009-10 REVENUES Original Current Actuals Projected Variance Original Current Actuals Projected Variance Budget Budget 12-31-09 Budget Budget 12-31-09 3229 REGULATORY PERMITS 30 - 3400 INVESTMENT EARNINGS 15,000 15,000 3,924 15,000 431 1,000 1,000 3500 GAS TAX 2106 400,000 400,000 37,412 135,000 (265,000) 3501 GAS TAX 2107.5 6,000 6,000 - 6,000 3502 GAS TAX 2105 200,000 200,000 53,098 195,000 (5,000) 3506 GAS TAX 2107 71,798 260,000 260,000 3510 ART 8-TRANSIT/STREETS 720,000 720,000 592,000 (128,000) 3612 FTA 5307 FEDERAL GRANT 3615 OTHER FEDERAL GRANTS 3720 TRANSFER FROM OTHER FUNDS 1.139,000 1,139,000 1,139,000 3871 TRANSIT FARE REVENUES TOTAL REVENUES S735,000 $735,000 $3,924 $607,000 (S 128,000) S 1,745,000 S 1,745,000 S 162,769 $1,736,000 ($9,000) EXPENDFFURES Salaries and Benefits 679,758 679,758 364,237 679,758 Contractual Services 56,000 56,000 5,945 56,000 Legal 1.000 1,000 589 1,000 Operations 286,098 286,098 110,996 286,098 Capital Outlay Capital Improvements 258 5,000 (5,000) Overhead Charges 68,692 68,692 68,692 Cost Plan Charges 583,000 583,000 291,500 583,000 - Transfer to Other Funds 1,213,000 1,213,000 1,213,000 Transfer to Lighting/Landscape Districts 229,000 229,000 172,752 173,000 56,000 TOTAL EXPENDITURES S 1,213,000 S 1,213,000 $258 S 1,218,000 ($5,000) $1,903,548 S 1,903,548 S946,019 S 1,847,548 $56,000 SURPLUS or (DEFICIT) (S611,000) (S 111,548) BEGINNING FUND BALANCE $812,036 $449,583 ENDING FUND BALANCE $201,036 $338,035 00 Page y2 of 2 `v V CITY of MOORPARK Attachment B REVENUE & EXPENDITURES SUMMARY STREET & TRANSPORTATION FUNDS LOCAL TRA1\SIT,PROGRAMS 5000 TOTAL STREET & TRANSIT FUNDS 2009-10 2009-10 2009-10 2009-10 2009-10 2009-10 REVENUES Original Current Actuals 2009-10 Variance Original Current Actuals 2009-10 Variance Projected Projected Budget Budget 12-31-09 Budget Budget 12-31-09 3229 REGULATORY PERMITS - - 30 - - 3400 INVESTMENT EARNINGS 4,000 4,000 59 4,000 19,000 19,000 4,414 20,000 1,000 3500 GAS TAX 2106 400,000 400,000 37,412 135,000 (265,000) 3501 GAS TAX 2107 5 6,000 6,000 - 6,000 3502 GAS TAX 2105 200,000 200,000 53,098 195,000 (5,000) 3506 GAS TAX 2107 - 71,798 260.000 260,000 3510 ART 8-TRANS I"i/STREETS 263,000 263,000 333,000 70,000 983,000 983,000 - 925,000 (58,000) 3612 FTA 5307 FEDERAL GRANT 130,000 130,000 130,000 - 130,000 130,000 130.000 - 3615 OTHER FEDERAL GRANTS 1,260,000 1,260,000 1,312,000 52,000 1,260,000 1,260,000 1,312,000 52,000 3720 TRANSFER FROM OTHER FUNDS 170,000 170,000 170,000 - 1,309,000 1,309,000 1,309.000 - 3871 TRANSIT FARE REVENUES 65,000 65,000 40,389 70,000 5,000 65,000 65,000 40,389 70,000 5,000 TOTAL REVENUES S 1,892,000 S 1,892,000 $40,448 S2,019,000 S 127,000 S4,372,000 S4,372,000 $207,141 S4,362,000 (S 10,000) EXPENDITURES Salaries and Benefits 107,622 107,622 54,932 107,622 - 787,380 787,380 419,169 787,380 Contractual Services 445,500 445,500 178,168 445,500 501,500 501,500 184,113 501.500 Legal 500 500 - 500 1,500 1,500 589 1,500 Operations 48,193 48,193 15,267 48,193 334,291 334,291 126,263 334,291 Capital Outlay 1,260,000 1,260,000 1,260,000 1,260,000 1,260,000 - 1,260,000 Capital Improvements 60,436 60,436 - 60,436 60,436 60,436 258 65,436 (5,000) Overhead Charges 68,692 68,692 - 68,692 Cost Plan Charges 142,000 142,000 71,000 142,000 725,000 725,000 362,500 725,000 Transfer to Other Funds 1,213,000 1,213,000 - 1,213,000 Transfer to Lighting/Landscape Districts 229,000 229,000 172,752 173,000 56,000 TOTAL EXPENDITURES S 2,064,251 S2,064,251 $319,367 S2,064,251 S5,180,799 S5,180,799 S 1,265,644 $5,129,799 $51,000 SURPLUS or (DEFICIT) (S45,251) ($767,799) BEGINNING FUND BALANCE ($254) $ 1,261,365 ENDING FUND BALANCE ($45,505) $493,566 OD N Finance 2/9/2010 CITY of MOORPARK Attachment C Page 1 of 1 GENERAL FUND FINANCIALS SUMMARY 2008-0 2009-10 2009-10 2009-10 2009-1 2010-11 Actuals Original Current Actuals Revised FORECAST Budget Budget 12-31-09 Estimate REVENUES Property Taxes 6,530,410 6,258,000 6,258,000 1,984,115 6,390,000 6,115,000 Sales Taxes 3,178,749 3,000,000 3,000,000 771,770 2,764,000 2,900,000 Franchise Fees 1.171,555 1,165,000 1,165,000 255.496 1,185,000 1,185,000 Special Benefit Assessments 19,323 - - - - - Licenses&Permits 88,307 73,000 73,000 71,584 93,000 93.000 Fines& Forfeitures 186,809 179,000 179,000 92,754 179.000 179,000 Use of Money&Property 1,000,430 861,000 861,000 120,985 781,000 858,000 Motor Vehicle In Lieu 125,307 100,000 100,000 24,815 75,000 75,000 Intergovernmental-other 29,736 20,000 20,000 26,039 35,000 35,000 Other Revenues 2,547,023 2,269,000 2,269,000 1,085,989 2,258,000 2,258,000 Charges for Services 1,203,592 1,407,000 1,407,000 617,089 1,137,000 1,137,000 TOTAL REVENUES $ 16,081,241 $ 15,332,000 S 15332,000 $5,050,636 $ 14,897,000 $ 14,835,000 EXPENDITURES Salaries and Benefits 4,477,849 4,258,681 4,258,681 2,084,524 4,214,000 4,258,681 Contractual Services 431,165 495,080 647,580 126,082 485,000 495,080 Police 5,595,299 5,884,868 5,884,868 2,300,873 5,504,000 6,084,205 Legal 63,053 88,330 88,330 18,888 77,000 88,330 Operations 1,585,368 1,970,437 1,975,197 573,876 1,911,000 1,970,437 Capital Outlay 59,297 8,897 8,897 789 8,000 8,897 Capital Improvements 31,426 59,000 88,201 598 87,000 59,000 Transfers 2,479,662 2,307,000 2,307,816 - 2,308,000 2,307,000 TOTAL EXPENDITURES S 14,723,119 S 15,072,293 S 15,259,570 $5,105,630 $ 14,594,000 $ 15,271,630 SURPLUS or (DEFICIT) 1,358,122 259,707 72,430 (54,994) 303,000 (436,630) BEGINNING FUND BALANCE 3,807,895 3,196,513 3,196,513 3,196,513 3,196,513 3,499,513 Prior Period Adjustment Transfer to Special Projects Fund (1,969,504) ENDING FUND BALANCE 3,196,513 3,456,220 3,268,943 3,141,519 3,499,513 3,062,883 00 W