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HomeMy WebLinkAbout12. Budget WorkshopBudget Workshop FY2025-26 Tonight’s Presentation Staff will cover the following: •Property Tax Revenues •Sales Tax Revenues •All Revenues •Expenditures •FY24-25 Projects completed and FY25-26 Projects by Departments Property Tax Revenues ACTUAL ACTUAL ACTUAL Description FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 Secured Taxes , CY/RPTTF/STAT PT $ 2,012,198 $ 2,806,802 $ 2,657,013 $ 2,824,229 $ 2,910,556 $ 2,970,000 Unsecured Taxes Current Year 14,202 13,875 119,311 140,434 143,309 165,000 Secured & Unsecured Prior year 8,261 8,032 (4,717) 76,084 60,444 70,000 Real Property Transfer Tax 118,288 67,020 40,263 36,659 20,396 35,000 Homeowners Property Tax Relief 2,603 2,442 16,914 16,799 10,147 20,000 Supplemental Property Tax 6,229 8,928 45,162 70,954 42,078 65,000 Penalties Delinquent Taxes 2,276 2,080 1,817 15,113 12,018 15,000 Property Tax VLF Swap 1,388,579 1,481,627 1,550,412 1,662,547 1,750,000 1,850,000 Excess Proceeds Distribution 52 188,340 8 9,427 0 Property Tax Statutory Pt - - - - - 3,552,688 4,579,146 4,426,183 4,852,246 4,948,948 5,190,000 Residual Receipts - RPTTF - - - - -- Total Property Taxes $ 3,552,688 $ 4,579,146 $ 4,426,183 $ 4,852,246 $ 4,948,948 $ 5,190,000 ACTUAL PROJECTION BUDGET Property Tax Sales Tax ACTUAL ACTUAL ACTUAL Description FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 Sales Tax $ 1,064,567 $ 1,185,907 $ 1,441,471 $ 3,679,516 $ 1,571,896 $1,600,000 ACTUAL PROJECTION BUGET Grand Terrace Sales Tax by quarter Revenue Totals ACTUAL ACTUAL ACTUAL Description FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 Property Taxes $ 3,552,688 $ 4,579,146 $ 4,426,183 $ 4,852,246 $ 4,948,948 $ 5,190,000 Sales Tax 1,064,567 1,185,907 1,441,471 3,679,516 1,571,896 1,600,000 Sales of Property 0 870,601 1,304,058 7,310 1,325 0 All Other Revenues 1,689,865 1,691,118 2,162,689 2,658,332 1,964,483 1,920,104 Total Property Taxes $ 6,307,120 $ 8,326,772 $ 9,334,401 $ 11,197,404 $ 8,486,652 $ 8,710,104 ACTUAL PROJECTION BUDGET Expenditures by Department ACTUAL ACTUAL ACTUAL Description FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 City Council $ 49,579 $ 55,459 $ 101,185 $ 112,203 $ 109,485 $ 110,522 City Manager 601,249 697,166 464,317 519,816 721,876 800,291 City Clerk 182,409 207,576 260,650 319,583 356,436 307,618 Finance 412,335 411,665 527,294 521,962 678,356 755,726 City Attorney 284,199 251,955 179,265 179,244 196,369 205,000 Building & Safety 241,487 198,791 248,179 273,391 379,963 354,518 Public Works 369,075 294,840 505,430 754,292 1,090,583 780,070 Code Enforcement 226,371 284,707 223,252 304,169 270,815 324,081 Enforcement Programs 32,406 45,886 72,914 58,981 70,814 45,450 Non-Departmental 903,904 1,042,609 1,194,894 1,057,408 1,060,475 1,229,552 Facilities Maintenance 45,111 61,545 116,149 121,434 213,857 94,480 Planning & Development 275,521 324,955 251,347 287,108 544,698 331,430 Management Information Systems 85,258 83,123 123,454 136,254 128,312 125,425 ACTUAL PROJECTION BUDGET Expenditures by Department ACTUAL ACTUAL ACTUAL Description FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 Sheriff $ 2,170,509 $ 2,356,772 $ 2,417,818 $ 2,567,564 $ 2,757,923 $ 2,831,250 Parks Maintenance 257,568 317,329 388,639 532,823 470,600 451,753 NPDES 21,219 21,014 60,338 65,885 72,991 81,400 Storm Drain Maintenance 0 4,196 140,638 23,611 135,242 60,093 Planning Commission 3,215 2,538 5,805 4,387 3,670 9,175 Historical & Cultural Committee 0 600 1,385 3,558 2,069 2,000 Senior Citizen’s Program 33,487 38,132 40,970 55,256 79,920 71,116 Emergency Operations Program 4,507 5,749 9,245 20,195 42,410 18,000 Capital Projects 90,615 112,465 18,313 8,823 0 0 Overhead Cost Allocation 41,731 (41,950)43,524 (81,950)(281,950)(281,950) Total Expenditures $ 6,331,755 $ 6,777,122 $ 7,395,005 $ 7,981,623 $ 9,104,914 $ 8,707,000 ACTUAL PROJECTION BUDGET FY2025-26 Revenue, Expenditure, & Fund Balance Fund Fund Title Actual Fund Balance, June 30, 2023 Actual Revenues FY2023-24 Actual Expenditures FY2023-24 Actual Fund Balance, June 30, 2024 Estimated Fund Balance, June 30, 2025 Projected Fund Balance, June 30, 2026 FUNDS GENERAL FUND – less property sales $4,997,226 $11,346,914 $8,075,463 $8,268,677 $7,598,750 $7,601,854 DEVELOPMENT IMPACT FEES (DIF)$1,270,781 $92,422 $5,000 $1,358,203 $1,419,345 $1,484,945 SPECIAL REVENUE FUNDS $2,683,816 $2,325,220 $2,357,868 $2,651,168 $2,727,408 $2,769,584 ENTERPRISE FUND $1,453,987 $64,578 $88,570 $1,429,995 $1,433,995 $1,443,995 GRANT FUNDS ($162,504) $195,293 $401,760 ($368,971) ($375,337) ($375,337) SUCCESSOR AGENCY $0 $0 $0 $0 $0 $0 CAPITAL PROJECTS FUNDS $855,676 $878,355 $1,151,108 $582,923 $569,378 $569,378 HOUSING AUTHORITY $2,052,728 $44,932 $38,325 $2,059,335 $2,097,075 $2,073,058 DOG PARK ENDOWMENT FUND $0 $0 $0 $0 $0 $0 TOTAL $13,151,710 $14,947,714 $12,118,094 $15,981,330 $15,460,614 $15,567,477 Questions