HomeMy WebLinkAbout4.11 Fiscal Year 2022-23 1st Quarter Financial ReviewCELEBRATING
STAFF REPORT
CITY COUNCIL
DUBLIN
CALIFORNIA
Agenda Item 4.1 1
DATE: December 6, 2022
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SU B.ECT : Fiscal Year 2022-23 1st Quarter Financial Review
Prepared by: Lisa Hisatomi, Director of Administrative Services
EXECUTIVE SUMMARY:
The City Council will receive a financial report through the first quarter of Fiscal Year 2022-23 and
consider amendments via a budget change.
STAFF RECOMMENDATION:
Receive the report and approve the budget change.
FINANCIAL IMPACT:
Approval of the budget change will allow for minor adjustments to operating budgets. Total
General Fund reserves are projected at $209,689,170 by June 30, 2023.
DESCRIPTION:
The focus of this report is the Fiscal Year 2022-23 General Fund Amended Budget. The Amended
Budget includes any budget amendments already approved by the City Council since July 1, 2022,
as well as carry-over budgets from Fiscal Year 2021-22. The Budget Change Form (Attachment 3)
lists all new amendments needing City Council approval.
Based on the current information available, Staff is not recommending any change to the revenue
estimates.
On the operating expenditure side, Staff is recommending an increase of $300,000 for property
damage repairs that will be submitted for insurance reimbursement. The increase is needed due
to an anticipated lag in reimbursement revenue from the City's insurance company, Plan JPA.
The General Fund Summary (Attachment 1) incorporates the Fiscal Year 2022-23 budget
carryovers for operating programs ($1,856,112) and the Capital Improvement Program (CIP)
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($12,510,109), and the recommended change of $300,000. Total General Fund Reserves are
projected at $209,689,170 by the end of the fiscal year, as shown in the table below. The decrease
in reserves, comparing to the prior year, is primarily due to planned CIP expenditures, a one-time
lump sum contribution to the Dougherty Regional Fire Authority unfunded pension liability, and a
contribution to the Internal Service Fund for replacements. The General Fund Reserves Summary
(Attachment 2) provides a detailed allocation of the reserves.
Table 1: General Fund Summary
FY2021-22
Actual
FY 2022-23
Adopted
New FY 2022-23
Amended
Total Reserves, Beginning of Year
Revenues
Expenditures
Net Operating Budget Impact
Transfers In
Unrealized Gain/Loss
Transfers Out/Contribution to Other
Total Reserves, End of Year
Change from Prior Year
$209,764,495
114,572,363
(80,931,058)
33,641,305
312,874
(15,525,055)
(4,336,114)
$223,857,505
$208,866,308*
108,709,762
(94,018,847)
14,690,915
77,900
(11,067,815)
$212,567,308
$223,857,505
108,709,762
(96,465,975)
12,243,787
(26,412,122)
$209,689,170
($14,168,335)
* FY2022-23 Adopted beginning reserve balance was based on the FY 2021-22 year-end projection.
Other Funds
Staff requests the City Council's approval to amend the budget for the following:
• EMS Special Revenue Fund - Appropriate $10,000 for a special assessment revenue audit
and Alameda County's fee for tax collection.
• Information Technology Fund - Appropriate $18,000 for higher -than -budgeted
maintenance and licensing fees for Situational Awareness Cameras.
• Measure D Fund - Adjust the CIP and operating budget to account for expenditures eligible
for Measure D funding, primarily related to SB 1383 implementation and recycling
containers. This results in a net increase in appropriations by $223,765.
• Local Recycling Program Fund - Appropriate $60,000 for education materials and outreach
services for SB 1383.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
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ATTACHMENTS:
1) General Fund Summary Q1 FY 2022-23
2) General Fund Reserves Summary Q1 FY 2022-23
3) Budget Change Q1 FY 2022-23
Page 3 of 3
295
GENERAL FUND SUMMARY - Q1 FY 2022-23 Attachment I
Actual
2021-22
Adopted
2022-23
Amended
2022-23
New Amended
Q1 Adjustment 2022-23
Property Tax
Sales Tax
Sales Tax Reimbursements
Development Revenue
Transient Occupancy Tax
Other Taxes
Licenses & Permits
Fines & Penalties
Interest Earnings
Rentals and Leases
Intergovernmental
Charges for Services
Other Revenue
a
$55,186,388
26,456,903
(346,696)
9,803,444
1,255,575
7,025,567
354,643
70,714
2,269,289
1,647,882
324,519
8,022,099
2,502,034
$55,163,000
26,400,000
(405,555)
7,702,334
1,400,000
6,560,000
351,373
85,000
1,510,000
1,477,330
290,000
6,496,124
1,680,156
$55,163,000
26,400,000
(405,555)
7,702,334
1,400,000
6,560,000
351,373
85,000
1,510,000
1,477,330
290,000
6,496,124
1,680,156
$55,163,000
26,400,000
(405,555)
7,702,334
1,400,000
6,560,000
351,373
85,000
1,510,000
1,477,330
290,000
6,496,124
1,680,156
Subtotal Revenues - Operating
$114,572,363
$108,709,762
$108,709,762
$108,709,762
Transfers In
Unrealized Gains/Losses
Salaries & Wages
Benefits
Services & Supplies
Internal Service Fund Charges
Utilities
Contracted Services
Capital Outlay
Debt Service Payment
Contingency & Miscellaneous
$312,874
(15,525,055)
$77,900
$77,900
$11,670,597
4,728,716
3,894,567
3,907,323
2,511,166
52,920,629
339,943
958,117
$13,249,383
5,488,704
5,178,309
4,932,571
3,485,435
59,695,219
432,737
1,333,050
223,440
$13,541,615
5,567,488
5,394,934
4,932,571
3,485,435
61,202,517
504,925
1,333,050
203,440
$13,541,615
5,567,488
5,394,934
4,932,571
3,485,435
300,000 61,502,517
504,925
1,333,050
203,440
Subtotal Expenditures - Operating
Operating Impact (REV-EXP)
$80,931,058 $94,018,847
$33,641,305 $14,690,915
$96,165,975
$12,543,787
$300,000 $96,465,975
($300,000) $12,243,787
Transfer Outs & Contributions to Other Funds
Transfers Out (CIPs) - Com./Assig. Resery
Transfers Out (CIPs) - Undesignated
Contribution to OPEB/PERS
Contribution to ISF
$2,803,478
532,636
1,000,000
$2,291,645
2,316,170
4,460,000
2,000,000
$13,759,910
6,120,013
4,460,000
2,000,000
13,759,910
72,198 6,192,212
4,460,000
2,000,000
Subtotal - Transfers Out & Contributions
4,336,114
11,067,815
26,339,924
72,198
26,412,122
Total Expenditures
$85,267,172 $105,086,662 $122,505,899
$372,198 $122,878,097
GF Impact (Include CIP & Transfers)
$14,093,010
$3,701,000 ($13,718,237)
($372,198) ($14,168,335)
TOTAL GENERAL FUND BALANCE
$223,857,505 $227,558,505 $210,139,268
$209,689,170
Contracted Services Detail
Actual
2021-22
Adopted
2022-23
Amended
2022-23
New Amended
2022-23
Police Services (1)
Fire Services (1)
Maintenance Services (MCE)
Development
Other Contracted Services
$21,437,403
14,699,226
5,875,493
3,876,551
7,031,956
$22,294,777
14,609,570
5,933,838
4,107,935
12,749,099
$21,788,548
14,699,227
5,933,838
5,259,552
13,521,353
$21,788,548
14,699,227
5,933,838
5,259,552
300,000 13,821,353
Total Contracted Services
$52,920,629 $59,695,219
$61,202,517
$300,000 $61,502,517
(1) Police and Fire liability insurance amounts are not included above, they are included in Services & Supplies.
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RESERVE DESCRIPTION
GENERAL FUND RESERVES SUMMARY- Q1 FY 2022-23
Actual
2021-22
Increase
2022-23
Decrease
2022-23
Net
Change
Attachment 2
Projected
2022-23
Non -Spendable 41.6
Prepaid Expenses
Restricted
Cemetery Endowment
$10,541
10,541
$4, 261,640
60,000
di
$10,541
10,541
$4, 261, 640
60,000
Developer Contribution - Downtown
1,490,000
1,490,000
Developer Contr - Heritage Park
19,000
19,000
Developer Contr - Nature Park
60,000
60,000
Section 115 Trust - Pension
1,882,640
1,882,640
Heritage Park Maintenance
Committed
Advance to Public Facility Fee
750,000
$73,346,367
9,523,096
($9,786,690)
($9,786,690)
750,000
$63,559,678
9,523,096
Downtown Public Improvement
15,176,230
(426,221)
(426,221)
14,750,009
Economic Stability
8,000,000
8,000,000
Emergency Communications
532,113
532,113
Fire Svcs Pension/OPEB
5,671,094
5,671,094
Innovations & New Opportunity
1,026,591
(132,093)
(132,093)
894,498
One -Time Initiative - Capital
6,419,657
(1,420,149)
(1,420,149)
4,999,508
One -Time Initiative - Operating
503,860
503,860
Public Safety Reserve
2,600,000
2,600,000
Specific Committed Reserves
Cemetery Expansion (CIP)
13,748
(13,748)
(13,748)
Contribution to Public Facility Fee
6,000,000
6,000,000
Cultural Arts Center (CIP)
7,139,197
(6,964,197)
(6,964,197)
175,000
Don Biddle Park (CIP)
675,193
(675,193)
(675,193)
Fallon Sports Park III Contingency
510,500
(100,000)
(100,000)
410,500
Lease Revenue Bond Payoff
6,000,000
6,000,000
Maintenance Facility (CIP)
55,089
(55,089)
(55,089)
Utility Undergrounding (CIP)
3,500,000
3,500,000
Assigned
$93,266,322
($9,633,178)
($9,633,178)
$83,633,144
Accrued Leave
1,308,044
1,308,044
Catastrophic Loss
17,710,320
17,710,320
CIP Carryovers
4,088,843
(4,088,843)
(4,088,843)
Fiscally Responsible Adjustment
325,000
325,000
Municipal Regional Permit
2,209,778
(2,182,419)
(2,182,419)
27,359
Non -Streets CIP Commitments
3,276,777
(4,277)
(4,277)
3,272,500
Operating Carryovers
1,600,546
(1,600,546)
(1,600,546)
Parks and Streets Contingency
201,270
201,270
Pension & OPEB
17,000,000
17,000,000
Relocate Parks Dept
500,000
500,000
Service Continuity
3,150,000
3,150,000
Dublin Blvd Extension - Placeholder
20,000,000
20,000,000
Specific Assigned Reserves
ARPA Revenue Replacement
665,878
665,878
Climate Action Plan
3,000,000
(62,000)
(62,000)
2,938,000
Contribution to ISF
1,500,000
1,500,000
Facade Improvement Grants
364,256
364,256
HVAC Replace. & Civic Ctr Improv. (CIP)
3,278,409
(1,307,892)
(1,307,892)
1,970,517
Pavement Management
2,000,000
2,000,000
Public Safety Complex (CIP)
87,200
(87,201)
(87,201)
Village Pkwy Pavement Reconstruction
11,000,000
(300,000)
(300,000)
10,700,000
Unassigned
$52,972,635
$19,419,868
($14,168,335)
$5,251,533
$58,224,167
Unassigned -Unrealized Gains
(11,008,294)
(11,008,294)
Unassigned (Available)
63,980,929
56,224,167
TOTAL RESERVES
$223,857,505
$19,419,868
($33,588,203)
($14,168,335)
$209,689,170
297
Attachment 3
CITY OF DUBLIN
FISCAL YEAR 2022-23
BUDGET CHANGE FORM
Budget Change Reference #:
City Council's Approval Required
From Un-Appropriated Reserves X Budget Transfer Between Funds
From Designated Reserves
Other
OPERATING EXPENDITURES
General Fund - Public Works - Contract Services
10016000.64001
$300,000.00
Property damage repair costs that will be
submitted for insurance reimbursement
IT Internal Service Fund - Information Systems - Software
66051400.61108
$18,000.00
Higher than budgeted maintenance and licensing
fee for Situational Awareness Camera
Measure D Fund - Environmental Services
23026200.61xxx (Operating Supplies/Training)
$15,335.00
Increase in promotional materials/giveaways,
conferences/training
23026200.64102 (MCE Additional Services)
$15,000.00
MCE cost for compost/mulch application at Dublin
Pride
23026200.61108 (Software)
$36,000.00
Green Challenge and Recyclist database
23026230.61104 (Operating Supplies)
$65,000.00
Three stream containers for public locations,
compost for carbon sequestration pilot project,
water bottle fill stations.
Contract services for SB 1383 implementation
23026230.64001 (Contract Services)
$175,000.00
franchise agreement technical assistance.
Local Recycling Program Fund - Environmental Services
23046200.61104 (Operating Supplies)
$45,000.00
Three stream containers for public locations, SB
1383 educational materials.
23046200.64001 (Contract Services)
$15,000.00
SB 1383 outreach and inspections of edible food
generators.
CIPs
Imagine Playground Dublin Sports Ground
PK0518.1001 (General Fund)
$48,320.32
Change funding source for the CIP, CIP does not
PK0518.2302 (Measure D Fund)
($48,320.32)
have any eligible expenditures that are
reimbursable by Measure D Fund, remaining
10010010.89101 (General Fund Transfers Out)
$23,378.16
projects costs are consulting service that are not
23020000.49999 (Measure D Fund Transfers In)
$23,378.16
eligible for Measure D Fund
Police Services Building
G10116.2302 (23020010.89101) (Measure D Fund Transfers Out)
($34,250)
CIP does not have any eligible expenditures that
G10116.9400.9401 (Improvements)
($34,250)
are reimbursable by Measure D Fund, make
33009310.49999 (Transfers In)
($34,250)
available the funding for operating programs
As Presented at the City Council Meeting 12/6/2022
**********Finance Use Only**********
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Date:
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