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HomeMy WebLinkAboutItem 10a - Adoption of Operating Budget and CIP and Equipment PlansAdoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 1 of 14 DATE: June 15, 2021 TO: Honorable Mayor and City Council FROM: Dominic Lazzaretto, City Manager Hue Quach, Administrative Services Director SUBJECT: RESOLUTION NO. 7372 ADOPTING A BUDGET FOR FY 2021-22 AND APPROPRIATING THE AMOUNTS SPECIFIED THEREIN AS EXPENDITURES FROM THE VARIOUS FUNDS Recommendation: Adopt RESOLUTION NO. 7373 ADOPTING A CAPITAL IMPROVEMENT AND EQUIPMENT PLAN FOR FISCAL YEARS 2021-22 THROUGH 2025-26 Recommendation: Adopt SUMMARY Sections 1204 and 1205 of the Arcadia City Charter require a Public Notice and a Public Hearing for consideration of the proposed Operating Budget and Five-Year Capital Program for the ensuing fiscal year, which is required to be adopted by July 1. The recommended actions are necessary to implement the budget for Fiscal Year 2021-22. This year’s budget process included one Budget Study Session with the City Council on May 17, 2021. Copies of the proposed Operating Budget were provided for the City Council’s review. Inclusive in the draft Budget were all operating funds including General, Special Revenues, Enterprise, and the Successor Agency. Additionally, the City Council received the Capital Improvement and Equipment Replacement Fund budgets in a separate document. All funds total $126.2 million in expenditures, of which the General Fund’s budget is $68.5 million (including Transfers Out noted below). As Special Revenues, Enterprise, and Debt Service funds are restricted to specific purposes and are generally self-sustaining, this report will primarily focus on the General Fund’s Operating Budget. The proposed FY 2021-22 General Fund Operating Budget anticipates Total Operating Revenues of $75.5 million and Expenditures of $74.3 million, which are comprised of Operating Expenses of $68.5 million and the annual debt service payment of $5.9 million for the recently-issued Pension Obligation Bonds in November 2020. Collectively, the net Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 2 of 14 of revenue to expenditures is projected to provide a surplus of $1.1 million at the end of the Fiscal Year. Through an enduring and resilient economy, fiscal restraint, and strong management techniques, the City has been able to weather through the COVID-19 pandemic that commenced in March 2020. The prior year’s budget was a conservatively proposed budget framework that carried the City through multiple waves of shutdowns and uncertainties associated with the pandemic. Departments have been able to find ways of keeping critical services intact by adapting through a tough economic environment and remaining focused on delivering those things most valued by residents and business customers in new and inventive ways. The City also did everything in its powers to reduce impacts on residents during the tight economy, such as not charging for overnight parking or levying fines at the Library to providing grants to local businesses in order to keep them operating and ready to recover when the economy fully re-opened. The proposed FY 2021-22 Operating Budget suggests a brighter and more optimistic year ahead. After total revenue and expenditures are considered, the ending Operating General Fund Balance, as proposed, will reflect a balanced budget with an expected surplus of $1.1 million, increasing the Operating Fund Balance to $8,427,400. The projected General Fund Operating Fund Balance would maintain a certain balance to provide cash flow needs of daily operations during the Fiscal Year; however, it is also suitable to make a transfer to the Emergency Reserve Fund balance to bring it to the 20% goal level established in the City’s Financial Policies. Currently, it has a balance of $10.1 million. The Emergency Reserve Fund is suggested to hold a sum equaling 20% of the annual operating expenditure, which would be equivalent to $14.0 million based on the current proposed FY 2021-22 Operating Budget. Currently, all combined unrestricted fund balances: General Fund Operating, Emergency Reserve, Capital Improvement, and Equipment Replacement totals approximately $38.8 million. The General Fund Operating budget is summarized in the table below: FY 21-22 Budget Beginning Fund Balance: $ 7,301,000 Total Revenues 75,450,600 Total Expenditures (69,314,200) Subtotal: 6,136,400 Total Fund Transfers (5,010,000) Net Surplus / (Deficit): $1,126,400 Ending Fund Balance: $ 8,427,400 Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 3 of 14 The proposed Budget transfer of funds are itemized as follows: x Lighting District $ 700,000 x Local Law Enforcement $ 110,000 x Capital Improvement Fund $1,800,000 x Equipment Replacement Fund $2,400,000 Total: $5,010,000 Annually, a goal of $2.4 million is set for transfers to the Capital Improvement Fund in order to create a balance sufficient to meet annual maintenance and replacement needs. The Capital Improvement Fund provides most of the funding for essential maintenance such as pavement rehabilitation, building repairs, and parks maintenance. Some of the key projects in the coming Fiscal Year budgeted in the Capital Improvement Fund are the Wilderness Park mudslide prevention, pavement rehabilitation program, and the Arcadia Unified School District Track Replacement. Total proposed projects funded by the Capital Improvement Fund will be $3.4 million. Citywide, the combined capital projects for all funds has been budgeted at $15.4 million. In the Equipment Replacement Fund, this year’s transfer has been set at $1.8 million, up from a previous annual amount of $1.6 million. Using the 10-year history of actual expenditures and rising prices everywhere, it is recommended that the $1.8 million become the annual target for transfers into this fund in order to ensure it remains sustainable over time. The Equipment Replacement Fund provides funding for essential equipment such as computers, vehicles, and major office equipment. Total proposed asset replacement costs funded by the Equipment Replacement Fund will be $2.8 million. Some of the upcoming year’s proposed items were deferred from the prior year due the financial uncertainties relating to the pandemic. One significant item proposed for FY 2021-22 is the replacement of the Fire Department’s pumper truck. The truck’s all- inclusive cost has been budgeted at approximately $1.1 million. Added to the City’s overall Operating Budget this year are new programs totaling $185,500 proposed in the General Fund. These new programs and expenditures are anticipated from various departments to respond to emerging operational needs or to further improve services. The largest of these requests are for updating the City’s Business License Code and the Safety Element of the General Plan, both of which will ensure that the community keeps up with emerging best practices. Additionally, in order to adhere to the City’s adopted pension strategy, the proposed FY 2021-22 budget includes a line item for advance payment of long-term liabilities, such as the Unfunded Accrual Liabilities (“UAL”) of CalPERS. A line item of $500,000 has been budgeted for the advance discretionary prepayment to CalPERS. This follows and continues Council’s directions to further reduce pension debt via accelerated payments to CalPERS with the goal of generating substantial long-term savings. Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 4 of 14 It is recommended that the City Council adopt the proposed Resolutions to enact the FY 2021-22 Operating Budget as well as the Capital and Equipment Replacement Plans. DISCUSSION At the start of the current year’s budget process in mid-February, the general mood for the upcoming Fiscal Year’s financial position was generally optimistic. Specifically, reports of cases and deaths due to COVID-19 were down significantly along with vaccines becoming available, making their way first to essential workforces and at-risk populations, then to the general public. The overall temperament was that the greatest uncertainties of the pandemic were likely behind us. That positive outlook has been fortified as each month passes. With conservative projections on the economy recovering to full strength in the next two years and limiting the expansion of services, the City is in a good position to provide a small budget surplus at the end of the Fiscal Year. It is in this context that the proposed FY 2021-22 budget has been developed. The expectation is that receipts of taxes, fees, and others revenue sources will be better than the current Fiscal Year and will fully recover in the following year. One key element from the revenue trajectory is Measure A, a 0.75% Transaction and Use Tax (Sales Tax) that was passed overwhelming by Arcadia voters in June 2019. This new revenue stream has significantly buoyed the City’s budget even before it has reached its full tax generation capacity. In FY 2020-21, the tax was significantly limited by the pandemic, as it was dependent on high-end retail and various other commerce activities that were most affected by the downturn. With a brighter economic outlook, it is expected that Measure A will generate about $7.6 million into the General Fund annually. Summarized in the table below is the General Fund Operating Budget for: FY 2020-21 Year Ending Estimates, FY 2021-22 Proposed Budget for Adoption, and a FY 2022-23 Preliminary Budget Outlook. Please note that FY 2022-23 is not proposed for adoption as the City adopts its Operating Budget annually. Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 5 of 14 GENERAL FUND FY 20-21 FY 21-22 FY 22-23 Estimates Budget Budget Beginning Fund Balance 7,198,300$ 7,301,000$ 8,427,400$ Estimated Revenues 62,624,200$ 70,728,000$ 73,414,800$ Transfers In 2,630,000 4,722,600 3,221,700 Expenses & Uses (61,951,500) (70,124,200) (69,987,100) Revenue over Expenses 3,302,700$ 5,326,400$ 6,649,400$ Transfer to Equipment Replacement Fund (1,600,000) (1,800,000) (1,800,000) Transfer to Capital Improvement Fund (1,600,000) (2,400,000) (2,400,000) Subtotal Operating Balance 102,700 1,126,400 2,449,400 Ending Fund Balance 7,301,000$ 8,427,400$ 10,876,800$ As shown in the table above, the City’s General Fund Operating Ending Fund Balance will increase to $8.4 million because of a projected surplus of $1.1 million. A portion of the Operating Fund Balance will be transferred into the City’s Emergency Reserve to help it reach its recommended level equivalent to 20% of annual operating expenditures. Currently, that Emergency Reserve is at $10.1 million. Given the annual operating expenditures proposed in the budget, $14.0 million should be held in the City’s Emergency Reserve Fund; therefore, a transfer of $3.9 million is expected from the Operating Fund Balance at the conclusion of the Fiscal Year. Inclusive of other designated fund balances, such as the Self Insurance Medical Fund, Capital Improvement and Equipment Replacement Fund, the City’s Reserve balances total $38.8 million as of this writing. FY 2021-22 Proposed Revenues FY 20-21 FY 21-22 Estimates Budget $ % Taxes 42,572,300$ 48,760,500$ 6,188,200$ 12.69% License & Permits 4,312,800 5,110,500 797,700 15.61% Fines & Penalties 134,000 415,500 281,500 67.75% Use Money & Property 1,630,000 1,394,600 (235,400)-16.88% Revenue from Other Agencies 8,920,100 8,306,700 (613,400)-7.38% Charge Current Services 2,705,700 3,371,400 665,700 19.75% Library 19,500 87,500 68,000 77.71% Recreation 184,400 1,088,800 904,400 83.06% Other Revenue 2,145,800 2,192,500 46,700 2.13% Total Revenue 62,624,600$ 70,728,000$ 8,103,400$ 11.46% Changes Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 6 of 14 For FY 2021-22, total General Fund revenues are expected to increase 11.5% when compared to FY 2020-21 Year End Estimates. The largest revenue source to the City’s General Fund is from Taxes. The key revenues under this group are: Property Tax, Sales Tax, Transient Occupancy Tax, Utility Users’ Tax, and Motor Vehicle License Fees. Their projected receipts are shown in the table below. Property Tax: The City expects to continue to see growth in home valuation, a benefit that can be credited to Arcadia being a desirable community and the current low interest rate environment. Home sales and development activities for high market value areas, such as Arcadia, have leveled off in comparison to recent years. However, home sales prices are forecasted to reflect higher price points in California due scarcity of supply at all price points. Arcadia is expected to be at or above the historical valuation trends in Los Angeles County. A 4.0% growth projection is budgeted and could be considered as a moderate growth value when considering that Arcadia has grown at over 5% annually in the past decade. Due to uncertainties associated with the pandemic, a cautious projection is used to give some latitude to respond should the budget reflect a downward trend during the year. The City expects see a continued growth in Property Tax receipts in the range of 4.0%, or nearly $413,800, for FY 2021-22. Sales and Transaction Use Tax: As news of a recovering economy continues to be positive, both in the matter of economics and medical advances, Sales Tax revenue is expected to see significant increases when comparing to the prior year’s estimated ending figure. This would occur for two key reasons. One, from the improved situation related to the pandemic wherein restrictions on social gatherings are lifted which allows for public gatherings or having less restrictive rules that would allow for re-opening of various trades and businesses to take place. The most significant of these would be re- opening of the Westfield Mall and Santa Anita Park, both of which were closed to traffic for significant portions of the past calendar year. Secondly, since the passage of Measure A in 2019 (0.75% Transaction and Use Tax), FY 2021-22 will be the first full year of collection at a normalized economy. Sales and Transaction Use Tax in total is projected to come in at $18.8 million, a 26.4% increase versus the prior Fiscal Year. Even though this would be considerable growth in both percentage and dollars, the projection remains below FY 2019-20 receipts since full economic recovery is not expected until FY 2022-23. Description FY 2020-21 YE Estimates FY 2021-22 Proposed Budget Difference % Change Property Tax $ 17,208,100 $ 17,896,500 $ 688,400 4.00% Sales Tax $ 14,871,000 $ 18,796,700 $ 3,925,700 26.40% Transient Occupancy Tax $ 1,892,000 $ 2,875,700 $ 965,700) 51.04% Utility Users’ Tax $ 6,690,400 $ 7,251,100 $ 560,700 8.38% Motor Vehicle License Fees $ 8,063,700 $ 8,246,700 $ 183,000 2.27% Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 7 of 14 Transient Occupancy Tax (“TOT”): The pandemic’s impact on the economy was sudden and led to closure of all types of business where gathering may take place. The travel and tourism industries were especially hard-hit last year. The projection for this category in FY 2021-22 is for a 51.0% increase when compared to the prior year, representing expected revenue of $2.8 million versus the prior year’s ending estimate of $1.9 million. The estimate of $2.8 million in TOT revenues has been proposed for FY 2021-22 to include the opening of the Le Meridian hotel in June 2021. Although the year to year comparison can seem optimistic by increasing the revenue by 51.0%, it should be said as a reminder that TOT revenue was reduced by more than 43% when comparing last year to pre-pandemic years. Given the entrance of a new luxury hotel and the recovery of the economy expected, the overall dollar figure projected remains conservative. Utility Users’ Tax: Utility Users’ Tax (“UUT”) is projected to generate $7.3 million, or an 8.4% increased when compared to FY 2020-21 Year Ending Estimate. While water conservation is expected to continue, water rates will increase accordingly because of rising imported water costs, the need to add treatment, and repairs of City wells. Additionally, demand seems to be higher as more people are working remotely from home. Fundamentally, the demand of water, electricity, and gas is expected to increase and bills are expected to rise with natural inflationary factors, which directly affects UUT revenues. However, this will be slightly offset by a continued reduction in the telephone UUT as landline telephones become less favored. Not factored into these figures is the result of a recent lawsuit cities, including Arcadia, won over the amount of UUT collected and remitted by Southern California Edison. The Courts found that SCE was under reporting the amount owed; going forward, it is expected that a slight increase will be experienced now that SCE can be expected to forward the proper amount of UUT. That increase is not yet able to be reliably projected, thus its impact has not been included in the budget, but it is expected to be a minor increase overall. Motor Vehicle License Fees (“VLF”): This tax is projected to increase by 2.27%, to $8.2 million. Revenues from this line item are largely tied to annual property assessed valuation. Because of this, the City has benefitted from many years of generous growth and will continue to do so in the next Fiscal Year. Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 8 of 14 FY 2021-22 Proposed Expenses Total operating expenditures for FY 2020-21 have been proposed at $74.3 million, an increase of 9.2% versus FY 2020-22 Budget of $68.0 million. However, the year to year comparison does not account for the cuts and reductions that were implemented in the prior year’s Operating Budget due to the pandemic. Additionally, there were numerous projects that were deferred from the Capital Improvement and Equipment Replacement Funds that are now presented in the FY 2021-22 Proposed Budget. When accounting for programs that were placed on hold and other cuts made to respond to the pandemic, the growth in expenditures are very minimal. Most significantly, for the first time in many years, pension costs are reduced in many areas thanks to the pension obligation bonds that have been issued and other pension strategies that have been implemented by the City Council in recent years. While some new services have been added to meet community demands and some natural inflationary increases have been included, staff has carefully controlled costs in most areas so that the increases are negligible and have no material effects to the overall operating expenditures. Proposed New Programs New programs and expenditures are anticipated from various departments to respond to emerging operational needs, as well as to respond to direction received at the City Council Study Session and City Council meetings. New programs proposed for the FY 2021-12 total $185,500. These programs include the following: City Manager $2,033,800 3% Admin Svrcs $3,765,200 6%Police $21,436,400 34% Fire $16,660,000 26% Public Works $4,561,000 7% Dev. Svcs $4,814,600 8% Recreation $3,144,200 5% Library & Museum $4,136,200 6% General City $2,889,900 5% Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 9 of 14 Fire Department Annual Wellness Program ($15,000 / 2nd yr cost): To provide wellness services for 58 full-time Arcadia Fire Department personnel to maintain high level of performance in response to a growing trend of post-employment suicides and other mental health concerns in the fire services industry. This would include conducting annual physicals/health screenings (including best practices for cancer prevention), counseling services, peer support training, and developing a formal physical fitness program. By creating a formal program, the Fire Department will have access to a program that could significantly minimize or prevent the impact(s) of potentially harmful physical and/or behavioral issues. Fire Service Impact Fee Study ($15,000): To establish a fire service impact fee for cost recovery to fund future equipment and vehicle replacement costs for the Arcadia Fire Department. This fee would apply to new construction. As new commercial, multifamily and mixed-use construction projects are added to our built-out community, the population and density of Arcadia will consequently increase and so would the call volume. The increase in call volume and related services will also place a need for various fire apparatus and equipment. The impact fee will provide funding for the replacement of future vehicles and equipment and ensure that new developments pay their fair share of these costs. Development Services Business License Code Update ($40,000): Over the years, the Business License Code has been amended in a piecemeal fashion and does not align with many of the changes that occurred recently in the Development Code Update. With this Update a significant effort will be placed into streamlining and standardizing the City's administrative review procedures, with a focus on being business friendly. Development Services Safety Element Update ($50,000): Existing law requires that California cities revise the General Plan Safety Element or Local Hazard Mitigation Plan (“LHMP”) upon each revision of the Housing Element, not less than once every eight (8) years. Recent legislation requires that the Safety Element be reviewed and updated to include climate adaptation and resiliency strategies applicable to the City (Senate Bill 379), identify any residential developments in hazard areas without at least two evacuation routes (Senate Bill 99), and identify and address the capacity, safety, and viability of evacuation routes under a range of emergency scenarios (Assembly Bill 747). These items must be incorporated by January 1, 2022.This project would ensure that these and other new laws are adhered to and the City’s Safety Element remains up to modern standards. Library & Museum Aspen Discovery Integration System for the Library Catalog ($15,500 / Donation): Using gift/donation money, the Library purchased Aspen Discovery for the Library's Catalog, making searching for a variety of content available in one place. The Aspen Discovery integration system allows patrons to search the Library catalog and find eContent and other third-party providers that otherwise require separate searching through each individual platform. The initial cost of $15,500 was paid through gifts/donations to the Library but there is an ongoing, annual cost of $7,500 going forward. Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 10 of 14 Homeless Program Outreach ($65,000): At the June 1, 2021, City Council Meeting, the City Council directed the City Manager to engage in a coordinated public outreach campaign to educate the public on the issue of homelessness, including hosting one or more community forums on homelessness no more than 120 days from approval. Staff from various City departments have met to discuss the public outreach campaign and event to determine a timeline, resource needs, and deliverables to achieve the City Council’s goals. Staff estimates that it will cost approximately $65,000 to conduct the outreach program the City Council has requested, which would include a special edition newsletter, limited part-time intern staffing, social media updates, website updates, and at least two community forums in multiple languages at offsite locations that may require rental fees and equipment. All efforts will be made to provide all written information in two languages (English, Simplified Chinese) and this proposal includes funding for in-person, simultaneous translation as well as translation of documents. This amount was not included in the original budget drafts distributed in May. Capital Improvement and Equipment Replacement Funds Over the past several years, the City to has been able to transfer a significant amount of funds into the Capital Improvement and Equipment Replacement Funds through disciplined savings as well as transferring any excess funds at the end of each year. It is still important for the City to continue a steady deposit into these funds, which were not replenished for many years during the last economic downturn and began to reach dangerously low levels. The FY 2021-22 Budget proposes a transfer of $4.2 million from the General Fund, $2.4 million to Capital Improvement and $1.8 million to Equipment Replacement to establish a sustaining fund balance for future years purchases and projects. The FY 2021-22 Capital Improvement Plan proposes 28 projects totaling $15.1 million in expenditures, of which $3.1 million would be paid from the Capital Improvement Fund. The Capital Improvement Fund provides the majority of funding for such essential maintenance as pavement rehabilitation, building repairs, and parks maintenance. This year’s list of project includes items that were deferred, about $1.2 million, from the prior year due to COVID. The table below summarizes some of the major proposed projects planned for the year. FY 2021-22 MAJOR CAPITAL IMPROVEMENT PROJECTS Project Description Project Budget Funding Source Annual Slurry Seal Program $700,000 Capital Improvement Advanced Metering Infrastructure (AMI)/ Meter Replacement Program $800,000 Water Fund Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 11 of 14 FY 2021-22 MAJOR CAPITAL IMPROVEMENT PROJECTS Project Description Project Budget Funding Source New Storm Drain Improvement Project $500,000 Water & City of Sierra Madre - $250K Newcastle Park Improvement Project – Design Build $3,751,000 Park & Recreation Facilities Fund Pavement Rehabilitation Program $2,100,000 Capital Improvement & RMRP (SB1) - $1.1Mil Sewer Main Replacement Program $1,200,000 Sewer Fund Wilderness Park Mudslide Restoration $300,000 Capital Improvement Downtown Alley Improvements $1,600,000 Measure M Arterial Pavement Rehabilitation: First Avenue & Santa Clara $800,000 Proposition C Fund Arcadia High School Track Replacement (Final Payment) $647,000 Capital Improvement The Equipment Fund was originally estimated to require an annual transfer of $1.8 million on average from the General Fund to ensure sustainability. However, looking at the past 10 years of expenditures and the ongoing increase in equipment costs – most specifically in the areas of technology and vehicle costs – it is anticipated that $2.4 million would now be the appropriate number to deposit annually in future year budgets. The Equipment Replacement Fund provides funding for essential equipment such as computers, vehicles, and major office equipment. Similar to the Capital Improvement Fund, roughly $1.5 million of scheduled replacements were deferred in the prior year due to the pandemic. The most significant of those deferrals included the purchase of a pumper truck in the Fire Department. In terms of new proposals, the Police Department is requesting the addition of body worn cameras for officers to use in the field. This is in response to growing concerns nationwide over the interactions between officers and the public and the City quickly becoming an outlier by not deploying the devices. While the City of Arcadia has always been proud of the actions of its officers in the field, having videos to review an entire interaction will be helpful for validation, verification, and training purposes. In total, the Equipment Replacement Fund proposes 45 different equipment purchases totaling $2.8 million, of which $2.5 million is funded by the Equipment Replacement Fund. The table below summarizes some of the major proposed equipment purchases. Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 12 of 14 FY 2020-21 MAJOR EQUIPMENT REPLACEMENT PURCHASES Equipment Replacement Description Replacement Budget Funding Source Police Dept. Radio Equipment Replacement $117,000 Equipment Replacement Police Dept. Body Worn Cameras $120,000 Equipment Replacement Fire Dept. Vehicle Replacement: Pump Truck (1) Crew Cab Pickup (1) Communication & Safety Equipment $1,045,000 Equipment Replacement Fire Dept. – Truck 105 Vehicle Extrication Equipment Replacement $61,900 Equipment Replacement Fire Dept. - Communication & Technology Equipment Replacement $84,000 Equipment Replacement Fire Dept. – Suppression Equipment Replacement $40,000 Equipment Replacement Fire Dept. – Urban Search & Rescue (USAR) Equipment Replacement $50,000 Equipment Replacement PW Streets – Vehicle Replacement: CNG Truck (1); ¾ Ton Truck (1); Communication & Safety Equipment $193,000 AQMD - $143K Equipment Replacement - $50K Automatic License Plate Reader Replacement & Upgrades $82,000 Equipment Replacement Fire Communication & Technology Equipment Replacement Program $80,000 Equipment Replacement It is imperative that the City find a means for depositing funds into these highly essential accounts at or above the minimum required contributions in the coming years to help them approach sustainable levels. Otherwise, the City’s infrastructure will quickly fall into Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 13 of 14 disrepair and the staff will not have the tools and equipment necessary to do their essential duties. CONCLUSION The FY 2021-22 General Fund Operating Budget, as proposed, is balanced with a projected surplus of $1.1 million. This is based on Total Operating Revenues of $75.5 million and Operating Expenditures (inclusive of transfers) of $68.4 million, and a Pension Obligation Bond debt service payment of $5.9 million. The City is fortunate to have had a history of conservative spending and has amassed the savings necessary to cope with economic uncertainties over a short-term period while allowing time to plan and execute over the long-term. By implementing this Budget, City staff will continue providing the community with unsurpassed service in a fiscally responsible manner. It is recommended that the City Council adopt the proposed Resolutions to enact the FY 2021-22 Operating Budget as well as the Five-Year Capital and Equipment Replacement Plans. Attached to this staff report are the following: x Exhibit “A”: a summary of Sources and Uses of Funds for All Funds reflecting the proposed Operating Budget presented to Council for adoption x Exhibit “B”: a summary of the proposed Five-year Capital Improvement and Equipment Replacement Plan Adoption of the Operating Budget and CIP and Equipment Plans June 15, 2021 Page 14 of 14 RECOMMENDATION It is recommended that the City Council: 1) Adopt Resolution No. 7372 adopting a Budget for Fiscal Year 2021-22 and appropriating the amounts specified therein as expenditures from various funds; and 2) Adopt Resolution No. 7373 adopting a Capital Improvement and Equipment Plan for the Fiscal Years 2021-22 through 2025-26. Attachments: Exhibit “A” – All Funds Operating Budget Summary Exhibit “B” – Five-Year Summary of Capital and Equipment Plan Resolution No. 7372 Resolution No. 7373 AttachmentA Ending Fund Fund Beginning Outside Transfer Total Appropriation Transfer Total Balance Fund FY21-22 Sources In Out FY21-22 GeneralFund 7,301,000 70,728,000 4,722,600 82,751,600 69,314,200 5,010,000 74,324,200 8,427,400 NarcoticSeizureFederal 101,700 50,800 0 152,500 0 0 0 152,500 COPS 260,800 152,100 0 412,900 152,400 0 152,400 260,500 Medical/Dental 417,300 0 4,556,300 4,973,600 4,554,800 1,500 4,556,300 417,300 LocalLawEnforcement (80,800) 100,000 110,000 129,200 183,800 0 183,800 (54,600) IRSTaskForce 461,300 500 0 461,800 0 0 0 461,800 WorkerCompensation/Liability 4,441,600 26,600 2,599,200 7,067,400 2,700,700 0 2,700,700 4,366,700 HomelandSecurity(3,000) 0 0 (3,000) 0 0 0 (3,000) LibraryStateGrant 600 0 0 600 0 0 0 600 HomelessnessPlan 5,300 250,000 0 255,300 250,000 0 250,000 5,300 OfficeofTrafficSafetyGrant 0 96,500 0 96,500 96,500 0 96,500 0 CaliforniaOESHSGP 0 51,800 0 51,800 51,800 0 51,800 0 AutotheftPreventionTaskforce 0 149,100 0 149,100 149,100 0 149,100 0 EmergencyReserve 10,047,100 0 0 10,047,100 0 0 0 10,047,100 Public,Educational/GovernmentalAccess 970,800 87,800 0 1,058,600 0 0 0 1,058,600 Parks&Recreation 7,153,400 1,271,500 0 8,424,900 4,081,000 31,900 4,112,900 4,312,000 UsedOilGrant 16,000 15,500 0 31,500 15,500 0 15,500 16,000 DOCBeverageGrant67,000 15,000 0 82,000 14,500 0 14,500 67,500 TrafficSafety (98,000) 197,000 0 99,000 0 159,000 159,000 (60,000) SolidWaste 1,994,200 693,000 0 2,687,200 339,000 300,000 639,000 2,048,200 MeasureWͲSafeCleanWaterProgram 108,000 864,900 0 972,900 247,000 0 247,000 725,900 StateGasTax (126,500) 1,458,600 0 1,332,100 0 1,260,000 1,260,000 72,100 RoadMaintenance/RehabilitationAct 98,900 1,151,800 0 1,250,700 1,100,000 0 1,100,000 150,700 AirQualityManagementDistrict 192,200 75,500 0 267,700 182,300 0 182,300 85,400 CommunityDevelopmentBlockGrant 0 331,200 0 331,200 331,200 0 331,200 0 SantaAnitaGradeSeparation 1,015,500 7,600 0 1,023,100 0 0 0 1,023,100 Transit (191,900) 2,596,250 538,000 2,942,350 2,688,500 0 2,688,500 253,850 PropositionA 2,016,100 1,015,100 0 3,031,200 253,100 931,400 1,184,500 1,846,700 TransportationImpactFund 1,599,400 312,000 0 1,911,400 1,429,500 0 1,429,500 481,900 PropositionC 1,920,100 972,700 0 2,892,800 2,886,800 0 2,886,800 6,000 TDAArticle3Bikeway 80,000 100,600 0 180,600 0 0 0 180,600 MeasureR 481,100 722,400 0 1,203,500 64,600 579,200 643,800 559,700 MeasureM 1,071,000 2,422,600 0 3,493,600 2,195,000 0 2,195,000 1,298,600 CapitalImprovement 9,187,600 153,400 2,400,000 11,741,000 4,658,400 0 4,658,400 7,082,600 LightingMaintenance 262,900 1,275,000 750,000 2,287,900 1,265,400 0 1,265,400 1,022,500 WaterFund (3,722,200) 15,216,600 0 11,494,400 16,291,300 0 16,291,300 (4,796,900) SewerFund 4,156,800 2,673,800 0 6,830,600 3,363,200 0 3,363,200 3,467,400 Par3GolfCourseFund 375,400 1,238,300 0 1,613,700 841,400 0 841,400 772,300 EquipmentReplacement 7,452,700 84,600 1,800,000 9,337,300 2,945,500 32,200 2,977,700 6,359,600 RedevelopmentSuccessorAgency 0 192,800 0 192,800 192,800 0 192,800 0 GeneralObligationBond2012 374,550 422,500 0 797,050 422,500 0 422,500 374,550 GeneralObligationBond2011 489,900 592,700 0 1,082,600 592,700 0 592,700 489,900 Total 59,897,850 107,766,150 17,476,100 185,140,100 123,854,500 8,305,200 132,159,700 52,980,400 CITY OF ARCADIA SUMMARY BY FUND FISCAL YEAR 2021-2022 PROPOSED BUDGET SOURCESOFFUNDS USESOFFUNDS ESTIMATED ESTIMATED PROPOSED ESTIMATED FUNDS FIVE-YEAR FIVE-YEAR FUNDS 7/01/2021 REVENUE EXPENDITURE 6/30/2026 CAPITAL OUTLAY FUND 8,606,000 13,079,100 (12,050,100)9,635,000 PARK AND RECREATION FUND 6,984,530 4,715,000 (5,408,900)6,290,630 MEASURE W CLEAN, SAFE WATER PROGRAM 108,000 4,332,900 (2,435,000)2,005,900 GAS TAX (HUTA) FUND (106,300)7,302,800 (6,300,000)896,500 ROAD MAINTENANCE AND REHABILITATION PROGRAM 97,600 5,766,600 (5,900,000) (35,800) AQMD 80,300 375,400 (161,500)294,200 PROP C LOCAL RETURN 237,300 4,794,100 (5,299,000) (267,600) TRANSPORTATION IMPACT FUND (325,600)2,073,200 (1,100,000)647,600 MEASURE R LOCAL RETURN 946,700 3,637,400 (3,185,400)1,398,700 MEASURE M LOCAL RETURN 1,050,700 5,724,100 (4,475,000)2,299,800 WATER FACILITY RESERVE 9,214,600 188,000 (12,990,000) (3,587,400) WATER EQUIPMENT RESERVE 284,500 3,800 (1,111,500) (823,200) SEWER FUND 7,019,900 14,042,900 (12,957,600)8,105,200 EQUIPMENT FUND 6,105,800 9,029,100 (12,509,000)2,625,900 CITY OF ARCADIA SUMMARY OF PROPOSED FIVE YEAR CAPITAL PROGRAMS FISCAL YEAR 2021-22 THROUGH 2025-26 Attachment B