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Home My WebLink AboutAGENDA REPORT 2018 0321 CCSA REG ITEM 10L CITY OF MOORPARK, CALIFORNIA City of Moorpark of March 21, 2018 Item: 10.L. ACTION Adopted Reso No. 2018-3689 By M.Benson MOORPARK CITY COUNCIL AGENDA REPORT TO: Honorable City Council FROM: Ron Ahlers, Finance Director DATE: March 13, 2018 (City Council meeting of March 21, 2018) SUBJECT: Consider Resolution Authorizing Mid-Year Amendments to Fiscal Year 2017/2018 Budget BACKGROUND The City Council adopted a budget for fiscal year 2017/2018 on June 21 , 2017, and periodically has amended it by resolution for various projects and programs After a review of the current budget status, in anticipation of developing a budget recommendation for the new fiscal year, staff has compiled additional recommended budget amendments for the City Council's consideration DISCUSSION The attached resolution makes several revenue and expenditure adjustments to the currently adopted 2017/2018 fiscal year budget, with an explanation for each item Exhibit "A" summarizes the projected changes to revenues and expenditures and the net fiscal impact by fund Revenue adjustments (Exhibit B) reflect increases and decreases Expenditure adjustments (Exhibit C) are cost increases, omissions, or items that will not be needed this fiscal year Total projected revenue of all funds will increase by $60,692 and total projected expenditures of all funds will increase by $642,116 The net impact across all funds is a decrease of $581 ,424 to the available fund balance General Fund projected revenue decrease of $67,000 coupled with General Fund projected expenditure increase of $519,116 generates a net impact of a decrease in General Fund balance of$586,116 Revenues General Fund revenues show an overall decrease of $67,000 Those revenues that increased are property taxes-secured by $100,000, property taxes-Vehicle License Fee by $10,000 The decreased revenues are franchise fees and maintenance use fee There are other changes for various funds in minor dollar amounts The City is creating a new fund, Road Maintenance and Rehab Fund to account for the new SB1 gas tax monies from the State which went into effect on November 1 , 2017 105 Honorable City Council March 21, 2018 Regular Meeting Page 2 Expenditures The majority of the expenditure increases (83%) are for legal services, leave cash out for the retired City Manager, moving expenses for the new City Manager and streetscape projects. These are detailed in Exhibit C. STAFF RECOMMENDATION (Roll Call Vote Required) Adopt Resolution No. 2018-______ amending the fiscal year 2017/2018 budget as noted in Exhibits “A”, “B” and “C” to the attached resolution. Attachment: Resolution No. 2018-_____ 106 Attachment RESOLUTION NO. 2018-_______ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, AUTHORIZING AN AMENDMENT TO THE FISCAL YEAR 2017/2018 ADOPTED OPERATING AND CAPITAL IMPROVEMENTS BUDGET WHEREAS, on June 21, 2017 the City Council adopted the Operating and Capital Improvements Budget for fiscal year 2017/2018; and WHEREAS, certain additions and adjustments to the budget are proposed to allow for effective service delivery for the balance of the fiscal year; and WHEREAS, the City Council now wishes to amend the 2017/2018 fiscal year budget as noted in Exhibits “A”, “B” and “C”. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. A budget amendment as more particularly described in Exhibits “A”, “B” and “C” attached hereto is hereby approved. SECTION 2. 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 21st day of March, 2018. _____________________________________ Janice S. Parvin, Mayor ATTEST: __________________________________ Maureen Benson, City Clerk Attachment: Exhibits “A”, “B” and “C” – Mid Year Budget Amendment 107 Resolution No. 2018- Page 2 Projected Projected Net Fund Balance Revenue Expenditure Impact Increase Increase Increase Fund (Decrease)(Decrease)(Decrease) 1000 - General Fund (67,000)519,116 (586,116) 1010 - Library Fund 25,000 -25,000 2004 - Library Facilities Fund 18,000 -18,000 2007 - Art in Public Places Fund 61,000 -61,000 2302 - Steeple Hill LED -20,000 (20,000) 2322 - Moorpark Highlands LMD -40,000 (40,000) 2410 - Solid Waste AB939 Fund -18,000 (18,000) 2412 - Local TDA Article 8a Fund 7,692 -7,692 2414 - Local TDA Article 8c Fund 16,000 45,000 (29,000) 2415 - Gas Tax Fund (212,000)-(212,000) 2416 - Road Maint & Rehab Fund (NEW)212,000 -212,000 3003 - Equipment Replacement Fund --- $ 60,692 $ 642,116 ($ 581,424) Exhibit "A" CITY OF MOORPARK Mid Year Budget Amendment for the 2017/2018 Fiscal Year Summary by Fund 108 Resolution No. 2018- Page 3 Exhibit "B" City of Moorpark Mid Year Budget Amendment FY 2017/18 Fund A/C Fund Description Current Budget Actual Revision Amended Budget Explanation REVENUE: 1000 40000 General Fund Property Taxes - CY Sec 3,550,000 2,584,392 100,000 3,650,000 Greater growth in assessed value 1000 40070 General Fund Property Taxes - VLF 3,575,000 1,792,138 10,000 3,585,000 Greater growth in assessed value 1000 45990 General Fund Franchise Fees 1,315,000 399,467 (40,000)1,275,000 Delay in new franchise agreement 1000 45990 General Fund Maintenance Use Fee 137,000 0 (137,000)0 Delay in new franchise agreement (67,000) 1010 40000 Library Fund Property Taxes Secured 925,000 0 25,000 950,000 Revised estimate 25,000 2004 43000 Library Facilities General Development Fees 37,000 41,073 18,000 55,000 Revised estimate of development fees 18,000 2007 43000 Art in Public Places General Development Fees 139,000 192,194 61,000 200,000 Revised estimate of development fees 61,000 2412 46200 Local TDA Article 8A Transit Allocation County 560,000 315,385 7,692 567,692 Article 8a allocation larger than originally expected when budget originally drafted. 7,692 2414 46550 Local TDA Article 8C Federal Grant 559,777 22,679 16,000 575,777 Article 8c allocation increased 16,000 2415 46300 Gas Tax Fund Road Maint & Rehab 212,000 23,058 (212,000)0 Transfer from Gas Tax to a new fund (212,000) 2416 46300 Road Maint & Rehab Fund Road Maint & Rehab 0 0 212,000 212,000 New fund for Road Maint & Rehab 212,000 Total Revenue Revision $ 60,692 109 Resolution No. 2018- Page 4 Exhibit "C" City of Moorpark Mid Year Budget Amendment FY 2017/18 Account Schema Fund Division Account Description Current Budget Actual Revision Amended Budget Explanation EXPENDITURES: 1000-111-00000-51000 General Fund City Council Contractual Services 58,736 8,736 5,000 63,736 C.H. Contractor: Electric, Plumbing Repairs 1000-120-00000-50020 General Fund City Manager Salaries 275,504 333,792 160,000 435,504 Leave cash-out & moving expenses 1000-120-00000-51000 General Fund City Manager Contractual Services --15,000 15,000 Executive team building 1000-140-00000-51040 General Fund City Attorney Legal Services 71,000 138,619 250,000 321,000 Increased legal services 1000.171.F0001.53000 General Fund Facilities Property Maintenance Services 102,521 48,847 17,316 119,837 HVAC-Repair Video Room B-HVAC 1000.171.F0007.53000 General Fund Facilities Property Maintenance Services 45,546 49,429 11,800 57,346 AVRC Gym floor damage 1000-542-M0031-55500 General Fund Tree Streetscape Improvements 396,636 14,700 60,000 456,636 Tierra Rejada road streetscape 519,116 2302-542-M0031-55500 Steeple Hill LMD Tree Streetscape Improvements 107,568 -20,000 127,568 Tierra Rejada road streetscape 20,000 2322-542-P0004-53000 LMD Moorpark Highlands Lighting Landscape Distr Property Maintenance Services 432,344 182,628 40,000 472,344 Planting improvements for LMD Highlands 40,000 2410-445-P0002-51040 Solid Waste AB939 Fund Facilities Property Maintenance 12,000 6,191 18,000 30,000 Franchise Agreements legal services 18,000 2414-430-P0010-51000 Local TDA Article 8C Transit Contractual Services 135,000 67,216 25,000 160,000 Dial A Ride services 2414-430-P0010-51220 Local TDA Article 8C Transit Vehicle Maintenance 100,000 43,113 20,000 120,000 Dial A Ride services 45,000 3003-134-00000-55000 Equipment Replacement Fund Info Service/Cable TV Machine & Equipment 47,227 3,227 13,000 60,227 Windows Server Software License 3003-134-00000-55000 Equipment Replacement Fund Info Service/Cable TV Machine & Equipment 60,227 3,227 (13,000)47,227 LAN Switch - Total Expenditure Revision $ 642,116 110