HomeMy WebLinkAboutG.9 - Introduction of FY 2025-25 Proposed BudgetCity of
Grand Terrace
Proposed Budget
Fiscal Year 2025-26
May 27, 2025
2030 Vision & Goals
Insure Our Fiscal Solvency
Maintain Public Safety
Promote Economic
Development
Develop and Implement
Successful Partnerships
Engage In Proactive
Communications 2
City of Grand Terrace
The General Fund Revenues are projected to be $8,710,104 and expenditures are
$8,707,000 with a projected surplus of $3,104.
Sales Tax projections by HdL are projected to be $1,600,000.
Property Tax projections as provided by the City’s property tax consultant Hdl
Coren & Cone are $3,340,000.
Property Tax VLF Swap revenues are projected to be $1,850,000.
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General Fund
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General Fund Revenues
2023-24 2023-24 2024-25 2024-25 2025-26
Adjusted
Budget
Actuals Adjusted
Budget
Year-End
Projections
Proposed
Budget
Property Tax $4,640,463 $4,842,819 $4,910,000 $4,948,948 $5,190,000
Residual Receipts - RPTTF $0 $9,427 $0 $0 $0
Proceeds from Sale of Property $0 $7,310 $0 $1,325 $0
Franchise Fees $650,000 $738,481 $675,000 $695,329 $675,000
Licenses, Fees & Permits $654,870 $795,673 $658,770 $538,761 $505,320
Sales Tax $1,234,000 $3,679,516 $1,360,000 $1,571,896 $1,600,000
Intergovernmental Revenue/Grants $58,500 $133,164 $58,500 $61,695 $58,500
Charges for Services $161,500 $203,991 $132,500 $106,992 $132,500
Fines & Forfeitures $37,800 $63,943 $39,000 $30,972 $41,000
Miscellaneous $26,710 $58,650 $26,710 $19,614 $33,624
Use of Money & Property $34,660 $296,081 $72,660 $109,620 $72,660
Wastewater Receipts $318,349 $318,349 $318,349 $401,500 $401,500
Transfers In $50,000 $50,000 $0 $0 $0
Residual Receipts - Sr Ctr $0 $0 $0 $0 $0
Total Revenues $7,866,852 $11,197,404 $8,251,489 $8,486,652 $8,710,104
Property Tax
59.6%
Sales Tax
18.4%
Franchise Fees
7.7%
Licenses, Fees & Permits
5.8%
Waste Water Receipts
4.6%
Intergovt Revenue/Grants
0.7%
Charges for Services
1.5%
Use of Money & Property
0.8%
Fines &
Forfeitures
0.5%
Miscellaneous
0.4%
City of Grand Terrace
2025-26 General Fund
Proposed Revenues
General Fund Expense
2023-24 2023-24 2024-25 2024-25 2025-26
Adjusted
Budget
Actuals Adjusted
Budget
Year-End
Projections
Proposed
Budget
Salaries $1,473,430 $1,520,557 $1,983,894 $1,921,172 $2,186,753
Benefits $1,237,062 $1,079,047 $1,468,901 $1,466,060 $1,642,959
Materials & Supplies $417,745 $422,637 $489,280 $502,164 $455,175
Professional/Contractual Services $4,398,580 $4,361,556 $4,664,897 $5,079,817 $4,184,141
Equipment $800 $54,576 $7,100 $9,141 $50,400
Lease of Facility/Equipment $11,500 $8,872 $8,700 $9,166 $3,750
Utilities $242,300 $216,837 $251,880 $248,342 $257,620
Overhead Cost Allocation ($81,950)($81,950)($281,950)($281,950)($281,950)
Capital Projects $0 $15,193 $0 $9,705 $0
Debt Service $0 $0 $0 $8 $0
Transfers Out $110,500 $384,298 $141,289 $141,289 $208,152
Total Expenditures $7,809,967 $7,981,623 $8,733,991 $9,104,914 $8,707,000
$2,186,753
$1,642,959
$455,175
$2,831,250
$1,352,891
$3,750 $50,400 $257,620
($281,950)
$208,152
($500,000)
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
City of Grand Terrace
2024-25 General Fund Proposed Expenditures
Budget Review Schedule
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Budget Schedule
Event Date
Introduction Tue., May 13th
Budget Deliberations &
Adoption Tue., May 27th
Questions?
City of Grand Terrace
The City’s unfunded PERS Liability on June 30, 2023 was $5,888,367. The City’s unfunded PERS
Liability on June 30, 2024, was $6,098,734, of which the City’s annual normal cost is approximately
$135,000 and the UAL for Fiscal Year 2025-26 is $550,000, for an annual cost of $685,000.
The City’s unfunded Other Post-Employment Benefits (OPEB) on June 30, 2023 was $1,169,969.
The City’s unfunded Other Post-Employment Benefits (OPEB) on June 30, 2024 was $1,401,835 of
which the City’s annual normal cost for retiree medical insurance is approximately $70,000 per year.
Total Revenues for all Funds is projected to be $11,204,651 and total expenditures are projected to be
$11,104,788 for net of $99,863.
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Expenditure Actual
2020-21
Actual
2021-22
Actual
2022-23
Actual
2023-24
Projection
2024-25
Budget
2025-26
UAL 483,590 523,523 577,972 386,876 462,662 550,000
SHERIFF 2,170,509 2,356,772 2,417,818 2,417,818 2,757,923 2,831,250
SALARIES 1,066,008 1,315,444 1,373,737 1,520,557 1,921,172 2,186,753
TOTAL 3,720,107 4,195,739 4,369,527 4,325,251 5,141,757 5,568,003