HomeMy WebLinkAboutAgenda Report - June 4, 2014 I-01CITY OF LODI
,. COUNCIL COMMUNICATION
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AGENDA TITLE: Adopt Resolution Approving the City of Lodi Financial Plan and Budget for the
Fiscal Year Beginning July 1, 2014 and Ending June 30, 2015 and Approving the
Fiscal Year 2014/15 Appropriation Spending Limit
MEETING DATE: June 4, 2014
PREPARED BY: Deputy City Manager
RECOMMENDED ACTION: Adopt resolution approving the City of Lodi Financial Plan and Budget
for the Fiscal Year (FY) beginning July 1, 2014 and ending June 30,
2015 and approving the Fiscal Year 2014/15 appropriation spending
limit.
BACKGROUND INFORMATION: The City Council will continue to receive the budget presentation and
the public is invited to comment on the FY 2014/15 budget. Staff
presented information to Council regarding this budget at Shirtsleeve
meetings on May 6, 13 and 20 and on June 3, 2014. Staff published a draft budget document on
May 15, 2014.
The General Fund Budget for FY 2014/15 is balanced without the use of reserves. Council approved a
General Fund Reserve Policy in June 2010 that sets aside 8 percent of General Fund revenues for a
Catastrophic Reserve and 8 percent of General Fund revenues for an Economic Reserve. Total General
Fund reserves are projected to be $7.52 million. This level of reserve will fully fund both the Catastrophic
Reserve and the Economic Reserve at about $3.487 million each and leave about $545,000 in
uncommitted reserves. Of this amount, approximately $300,000 is designated for capital expenditures
under the Digital Infrastructure and Video Competition Act (DIVCA), leaving about $245,000 in
uncommitted, undesignated reserves.
The General Fund budget is $43,591,060, an increase of $1,392,240 over the 2013/14 initially adopted
budget. The All -Funds budget is $179,553,990, an increase of $1.8 million, or about 1 percent over the
previous year. The increase is related to increased salary and benefit costs, service and supply costs,
and capital project costs offset by reductions in debt service costs resulting from the early payoff of water
utility debt.
Most bargaining unit agreements expire during the budget year. The budget has been built on the basis
of the existing labor agreements. Any changes to agreements will generate mid -year adjustments to the
budget.
The budget proposes 382 full-time positions; an increase of four over the prior year. The additions are a
Heavy Equipment Mechanic, a Watershed Program Coordinator, a Parks Supervisor and an Electrical
Engineer. Additionally, a Management Analyst position that was shared between the Police and Fire
APPROVED:
Stephen Schwaba , terim City Manager
departments is now dedicated to the Police Department. The Fire department will staff this function with
part-time staff.
Significant capital projects included in the budget are:
• White Slough Water Pollution Control Facility Improvements ($6.8 million)
o Road paving, building improvements, influent screening and UV system upgrades, micro -
turbine design and installation
• Street Resurfacing and Enhancement ($0.9 million)
o Turner Road overlay design
• Water System Improvements ($2.5 million)
o Continuing design and construction of the meter installation program, water well
rehabilitation, and three PCE/TCE projects
• Electrical System Maintenance ($2.4 million)
o Overhead and underground maintenance and streetlight grounding and fusing
• Financial Systems Replacement ($0.75 million)
o Replace existing financial and utility billing systems
• Boat Launch Upgrades ($0.7 million)
o Boat launch facilities at Lodi Lake
Two significant capital projects are not included in this budget; the construction of Fire Station 2 and the
remodel of the City Hall Annex. Both of these projects are out to bid. Staff will bring both projects
forward as budget adjustments at the time of award of construction contracts.
A resolution adopting the Financial Plan and Budget is attached. Included in the budget resolution is the
adoption of the Appropriation Spending Limit for the 2014/15 fiscal year. This limit represents the
maximum spending authority for the City based upon population and inflation changes over the last year.
The 2014/15 Appropriation Limit is $86,477,897, an increase of $368,961 from the prior year. Details of
the calculations are attached as Attachment 1 and Exhibits A through G.
FISCAL IMPACT: The 2014/15 budget provides an expenditure plan for all funds. The All -Funds budget
is $179,553,990, an increase of $1.8 million, or about 1 percent over the previous
year. As noted earlier, this increase is related to cost increases in a number of
categories offset by a reduction in debt service costs. The General Fund Budget is
$43,591,060, an increase of $1,392,240 over the prior year's budget.
Jorda Ayers, Deputy City anager
Attachments
2014-15 FINANCIAL PLAN AND BUDGET ATTACHMENT 1
APPROPRIATIONS SPENDING LIMIT
2014-15 APPROPRIATIONS SPENDING LIMIT
2014-15 APPROPRIATIONS SUBJECT TO LIMITATION
PROCEEDS OF TAXES
EXCLUSIONS
APPROPRIATIONS SUBJECT TO LIMITATION
CURRENT YEAR LIMIT
34,129,895 1
34,129,895
86,477,897
Last Year's Limit
86,108,936
Adjustment Factors
1 Population % 1.0066
2 Inflation % 0.9977
Total Adjustment %
1.00428
Annual Adjustment
368,961
Adjustments
None
Total Adjustments
368,961
2014-15 APPROPRIATIONS SUBJECT TO LIMITATION
PROCEEDS OF TAXES
EXCLUSIONS
APPROPRIATIONS SUBJECT TO LIMITATION
CURRENT YEAR LIMIT
34,129,895 1
34,129,895
86,477,897
EXHIBIT A
B. Adjustments Factors
1 Population % 1.00GG (Exhibit B)
2 Inflation % 0.9977 (State Finance)
Total Adjustment % 1.00428 (111*112)
C. Annual Adjustment 368,961 (B*A)
D. Other Adjustments None
E. Total Adjustments 368,961 71 (C+D)
F. This Year's Limit 86,477,897 -1 (A+E)
City of Lodi EXHIBIT B
Appropriations Spending Limit
Growth Factors/Calculations
GROWTH FACTORS:
1.0347 x 1.0572 =1.0939
% Increase
/increase
:: i "'E :'•:: i :: i ::::::
i i 4.�ULii i i i i i ii;ii:i:i
;:i: i:i:i i:ic- i: iiia i
1.0466x1.0496=1.0985
1.0985 x $24,782,072 =
$27,223,106
87-88
3.47
5.72
3.33
88-89
4.66
4.96
3.32
89-90
5.19
2.52
2.20
90-91
4.21
2.26
2.23
91-92
4.14
1.19
2.64
92-93
-0.64
0.97
2.41
93-94
2.72
0.73
2.13
94-95
0.71
0.51
1.57
95-96
4.72
1.31
1.59
96-97
4.67
1.68
1.85
97-98
4.67
0.70
1.21
98-99
4.15
1.16
1.47
99-00
4.53
1.94
1.44
00-01
4.91
1.29
1.78
01-02
7.82
1.90
2.71
02-03
-1.27
2.14
3.07
03-04
2.31
1.69
2.86
04-05
3.28
0.75
2.54
05-06
5.26
0.96
2.65
06-07
3.96
0.30
2.00
07-08
4.42
0.90
1.73
08-09
4.29
0.68
1.59
09-10
0.62
0.42
1.07
10-11
-2.54
0.61
0.97
11-12
2.51
0.61
0.97
12-13
3.77
0.77
1.05
13-14
5.12
0.57
0.95
14-15
-0.23
0:66
1.10
87-88
1.0347 x 1.0572 =1.0939
1.0939 x $22,654,787 =
$24,782,072
88-89
1.0466x1.0496=1.0985
1.0985 x $24,782,072 =
$27,223,106
89-90
1.0519 x 1.0252 =1.0784
1.0784 x $27,223,106 =
$29,357,398
90-91
1.0421 x 1.0226 =1.0657
1.0657 x $29,357,398 =
$31,286,179
91-92
1.0414 x 1.0264 =1.0689
1.0689 x $31,286,179 =
$33,441,797
92-93
.9936 x 1.0241 =1.0175
1.0175 x 33,441,797 =
$34,027,028
93-94
1.0272 x 1.0213 =1.0491
1.0491x 34,027,028 =
$35,697,755
94-95
1.0071 x 1,0157 =1.0229
1.0229 x 35,697,755 =
$36,515,234
95-96
1.0472 x 1.0131 =1.0609
1.0609 x 36,515,234 =
$38,739,012
96-97
1.0467x1.0168=1.0643
1.0643 x 38739012 =
$41,229,332
97-98
1.0467x1.0070=1.0540
1.0540x 41,229,332 =
$43,456,825
98-99
1.0415x1.01160=1.0536
1.0536x 43,456,825
$45,785,303
99-00
1.0453x1.0194=1.0656
1.0656x45,785,303
$48,787,849
00-01
1.0491x1.0129=1.0626
1.0626x48,787,849
$51,843,597
01-02
1.0782x1.0190=1.0987
$56,959,824
1.0986858
02-03
.9873x1.0214=1.00843
$57,439,894
1.00842822
03-04
1.0231x1.0169=1.0404
$59,759,913
1.04039039
04-05
1.0328x1.0075=1.040546
$62,182,939
1.040546
05-06
1.0526x1.0096=1.06270496
$66,082,118
1.06270496
06-07
1.0396x1.0030=1.0427188
$68,905,066
1.0427188
07-08
1.0442x1.0090=1.0535978
$72,598,226
1.0535978
08-09
1.0429x1.0068=1.0499917
$76,227,535
1.0499917
09-10
1.0062x1.0042=1.01042604
$77,022,286
1.01042604
10-11
.9746x1.0061=.98054506
$75,523,822
0.98054506
11-12
1.0251x1,0061=1.03135311
$77,891,729
1.03135311
12-13
1.0377x1.0077=1.04569029
$81,450,625
1,04569029
13-14
1.0.512'1.0057=1.05719184
$86,108,936
1,057,19184
14-15
0.9977x1.0066=1.00428482
$86,477,897
1.00428482
14-15 Appropriations Subject to Limit:
$34,129,895 =
39.47%
$86,477,897
APPROPRIATIONS SUBJECT TO LIMITATION
City of Lodi
Fiscal Year 2014-15
A. PROCEEDS OF TAXES
B. EXCLUSIONS
C. APPROPRIATIONS SUBJECT TO LIMITATION
D. CURRENT YEAR LIMIT
34,129,895
O
34,129,895
86,477,897
EXHIBIT C
(Exhibit F)
(Exhibit D)
(A -B)
(Exhibit A)
E. OVER(UNDER) LIMIT r-(52,348,001) (C -D)
34.129,895 = 39.47%
86,477,897
EXCLUDED APPROPRIATIONS
City of Lodi
Fiscal Year 2014-15
EXHIBIT D
QUALIFIED CAPITAL OUTLAYS
Subtotal None
QUALIFIED DEBT SERVICE
Subtotal None
TOTAL EXCLUDABLE I None
(Copy to Exhibit C & G)
City of Lodi
Schedule to Match User Fees to Costs
Fiscal Year 2014-15
EXHIBIT E
Public Safety Fees
368,650
27,372,990
Parks and Rec/Cultural Fees
1,860,360
5,800,190
Community Development Fees
359,000
1,238,440
PW Engineering Fees
516,610
999,940
Library Fees
40,000
1,389,950
Total
3,144,620
36,801,510
0
0
0
0
0
0
Calculation - Proceeds of Taxes
City of Lodi
Fiscal Year 2014-15
EXHIBIT F
0A.
E
::::::::::::::::::::::QFTA::XESE:E:��)�:�::�:�:'•:�:•..................:�.�.�.•.�....•.•................,.,...•...............
TAXES:
Property Taxes
Sales & Use Tax
Business License Tax
Franchise Tax
Transient Occupancy Tax
Real Property -Documentary Tax
In -Lieu Franchise Tax
FROM STATE
Motor Vehicle In Lieu
State H -way Maintenance
Gas Tax
Cigarette tax
Transportation Development Act
TDA-Pedestrian/Bike Path
SB 300 Transportation Partnership
Measure K Funds
State Reimbursements -POST
Public Library grants
PERS Rebate
SB90 Reimbursements
Asset Seizure Funds/Auto Theft
Drug Suppression Grant
State special grants
Traffic Congestion Relief
State STIP reimbursement
LOCALLY RAISED
Fines, Forfeitures, Penalties
Licenses and permits
Rent of City Property
Development Fees
USER FEES
(from Exhibit E)
OTHER MISCELLANEOUS
Sale of Property
Restitution -Damage to Property
Other revenue
Interfund Transfers
SUB -TOTAL
(for Exhibit G)
INTEREST EARNINGS
(from Exhibit G)
TOTAL REVENUE
(use for Exhibit C)
RESERVE WITHDRAWALS
(Including appropriated Fund Balance)
TOTAL OF THESE FUNDS
OTHER FUNDS NOT INCLUDED
GRAND TOTAL BUDGET
8,502,480
8,502,480
10,190,000
330,000 10,520,000
1,510,000
1,510,000
1,776,720
1,776,720
550,000
550,000
130,000
130,000
7,033,360
7,033,360
4,410,350
4,410,350
11,400
11,400
1.594,640
1,594,640
425X80
0
1.300,000
1,300,000
39,400
39,400
0
0
875,000
875,000
40,000
40,000
10,000
10,000
0
0
50,000
50,000
0
0
301,410
301,410
1.356,460
1,356,460
0
0
0
0
1,437,400
1,437,400
708.840
708,840
1,962,500
1,962,500
425X80
425,280
34,102,910 18,406,360 1 52,509,270
26,985 1 14,56541,550
34,129,895 1 52,550,820
0
52.550.820
116,481640
169.034.460
EXHIBIT G
B. MINUS EXCLUSIONS
-- 0
(Exhibit D)
C. NET INVESTED TAXES
34,102,910
(A -B)
D. TOTAL NON-INTEREST BUDGET
1 52,509,270
^(Exhibit F
E. TAX PROCEEDS AS PERCENT
OF BUDGET -64.95% (C/D)
F. INTEREST EARNINGS �- 41,550
G. AMOUNT OF INTEREST EARNED 26,98 (E*F)
FROM TAXES
H. AMOUNT OF INTEREST EARNED
ON NON -TAXES 14,565 (F -G)
I. Take the result of steps #G & H
Copy on to Exhibit F
RESOLUTION NO. 2014-98
A RESOLUTION OF THE LODI CITY COUNCIL
ADOPTING THE CITY OF LODI FINANCIAL PLAN AND
BUDGET FOR THE FISCAL YEAR BEGINNING JULY 1,
2014 AND ENDING JUNE 30, 2015, AND APPROVING
THE 2014/15 APPROPRIATIONS SPENDING LIMIT
WHEREAS, the City Manager submitted the 2014/15 balanced Financial Plan
and Budget to the City Council on May 15, 2014; and
WHEREAS, the 2014/15 Financial Plan and Budget was prepared in accordance
with the City Council's goals, budget assumptions, and policies; and
WHEREAS, the City Council conducted public budget meetings on May 6, May
20, June 3, and June 4, 2014, at the Carnegie Forum and on May 13, 2014 at the Lodi
Library; and
WHEREAS, the City Council is required to adopt the Appropriations Spending
Limit for 2014/15; and
WHEREAS, the Appropriations Spending Limit and the annual adjustment factors
selected to calculate the Limit are part of the Financial Plan and Budget.
follows:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lodi as
That the 2014/15 Financial Plan and Budget, as proposed by the City
Manager, be approved as follows:
Budget
General Fund
Police
$17,405,020
Fire
$9,967,970
Public Works
$1,940,520
City Clerk
$626,320
City Manager
$414,420
City Attorney
$490,810
Internal Services
$3,367,710
Economic Development
$488,280
Non -Departmental
$8,890,010
Total General Fund
$43,591,060
Other Funds
Electric Utility
$70,762,800
Water Utility
$12,185,130
Wastewater Utility
$19,723,250
Transit
$4,162,210
Streets
$3,951,680
Community Development—
$1,238,440
Parks, Rec & Cultural Services
$5,800,190
Library
$1,389,950
Transportation Development Act
$39,400
Community Dev Block Grant
$852,300
Public Safety Special Revenue
$458,620
Capital Outla
$1,607,700
Equip & Vehicle Replacement
$358,000
Debt Service
$847,850
Benefits
$8,364,940
Self Insurance
$2,263,610
Trust and Agency
$136,740
Fleet Services
$1,820,120
Total Other Funds
$135,962,930
Total
$179,553,990
2. That the funds for the 2014/15 Financial Plan and Budget are appropriated as
summarized in the document on file in the City Clerk's Office; and
3. That the Appropriations Spending Limit be increased by $368,961 from the
2013/14 level of $86,108,936 to the 2014/15 level of $86,477,897.
Dated: June 4, 2014
I hereby certify that Resolution No. 2014-98 as passed and adopted by the City
Council of the City of Lodi in a regular meeting held June 4, 2014, by the following votes:
AYES: COUNCIL MEMBERS — Hansen, Johnson, Mounce, Nakanishi,
and Mayor Katzakian
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
HHL-OLSON
City Clerk
2014-98
2014-15 FINANCIAL PLAN AND BUDGET
APPROPRIATIONS SPENDING LIMIT
2014-15 APPROPRIATIONS SPENDING LIMIT
ATTACHMENT 1
FYear's Limit 86,108,936
Adjustment Factors
1 Population % 1.0066
2 Inflation % 0.9977
Total Adjustment % 1.00428
Annual Adjustment 368,961
Adjustments None
Total Adjustments 368,961
12..T ::::::::::::::.:.:.:.:.:.:.:.:.:. ...
.....:.........:.................�.......01
2014-15 APPROPRIATIONS SUBJECT TO LIMITATION
PROCEEDS OF TAXES
EXCLUSIONS
APPROPRIATIONS SUBJECT TO LIMITATION
CURRENT YEAR LIMIT
34,129,895
34,129,895
86,477,897
EXHIBIT A
City of Lodi
Appropriations Spending Limit
Fiscal Year 2014-15
A. Last Year's Limit 86,108,936
B. Adjustments Factors
1 Population % �— 1.006G� (Exhibit B)
2 Inflation % 0.9977 —� (State Finance)
Total Adjustment % 1.00428 (111*132)
C. Annual Adjustment 368,961 (B*A)
D. Other Adjustments �— None
E. Total Adjustments 368,961 (C+D)
F. This Year's Limit _ 86,477,897-1 (A+E)
Cityof Lodi EXHIBIT B
Appropriations Spending Limit
Growth Factors/Calculations
8849
4.66
4.96
3.32
89-90
5.19
2.52
2.20
90.91
4.21
2.26
2.23
91-9Z
4.14
1.19
2.64
92-93
0.64
0.97
2.41
93-94
2.72
0.73
2.13
94-95
0.71
0.51
1.57
95-96
4•Y2
1.31
1.59
96.97
4.67
1.68
1.85
97-98
4.67
0.70
1.21
98-99
4.15
1.16
1.47
99-00
4.53
1.94
1.44
00-01
4.91
1.29
1.78
01-02
7.82
1.90
2.71 ..
02-03
1.27
2.14
3.07
03-04
2.31
1.69
2.86
0405
3.28
0.75
2.54
05-06
5.26
0.96
2.65
06-07
3.96
0.30
2.00
07-08
4.42
0.90
1.73
08-09
4.29
0.68
1.59
09-10
0.62
0.42
1.07
10-11
2.54
0.61
0.97
11-12
2.51
0.61
0.97
1Z-13
3.77
0.77
1.05
13-14
5.12
0.57
0.95
14-15
-0.23
0:66
1.10
CALCULATIONS:
••�;::;.,.:;:isi;:;:;i;::i;ii:iii;i?iiii�iEi?i;;ii;;iiES'•i'•3iiii
:.•.......,.; :•.•
:ii?�1)S.:.i?,
i::�:E:;i;i;i;igE;:�:i;;' i.
ro pdti R
?.•i'• iii i
. ,.:
'Year cajaatloii E6EBueniiiiir<#s'aiiki:iE?:-E i
87-88
1.0347 x 1.0572 =1.0939
$24,782,072
1.0939 x 522,654,787
88.89
1.0466x1.0496=1.0985
=
$27,223,106
1.0985 x $24,782,072
89-90
1.0519 x 1.0252 =1.0784
$29,357,398
1,0784 x $27,223,106
=
90.91
1.0421 x 1.0226 =1.0657
$31,286,179
1.0657 x $29,357,398
=
91-92
1.0414 x 1.0264 -1.0689
1.0689 x $31,286,179
92-93
.9936 x 1.0241=1.0175
1,0175 x 33,441,797
93-94
1.0272 x 1.0213 =1.0491
1.0491x 34,027,028
94-95
1.0071 x 1.0157 =1.0229
1.0229 x 35,697,755
95-96
1.0472 x 1.0131 =1.0609
1.0609 x 36,515,234
96-97
1.0467x1.0168=1.0643
1.0643 x 38739012
97-98
1.0467x1.0070=1.0540
1.0540x 41,229,332
98.99
1.0415x1.01160=1.0536
1.0536x 43,456,825
99-00
1.0453x1.0194=1.0656
1.0656x45,785,303
00-01
1.0491x1.0129=1.0626
1.0626x48,787,849
01-02
1.07821l.0190=1.0987
1.0986858
02-03
.9873x1.0214=1.00843
1.00842822
03-04
1.0231x1.0169=1.0404
1.04039039
04-05
1.0328x1.0075=1.040546
1.040546
05.06
1.0526x1.0096-1.06270496
1.06270496
06-07
1.0396x1.0030=1.0427188
1.0427188
07-08
1.0442x1.0090=1.0535978
1.0535978
08-09
1.0429x1.0068=1.0499917
1.0499917
09-10
1.0062x1.0042=1.01042604
1.01042604
10-11
.9746x1.0061=.98054506
0.98054506
11-12
1,0251x1.0061=1.03135311
1.03135311
12-13
L0377xi.0077=1.04569029
1.04569029
13-14
1.0-512"1.0057=1.057.19184
1,05719184
14-15
0.9977x].0066=1.00428482
1.00428482
14-15 Appropriations
Subject to Limit:
$34,129,89
$86,477,897
533,441,797
534,027,028
535,697,755
$36,515,234
538,739,012
$41,229,332
$43,456,825
545,785,303
548,787,849
$51,843,597
$56,959,824
557,439,894
$59,759,913
$62,182,939
566,082,118
$68,905,066
$72,598,226
$76,227,535
$77,022,286
$75,523,822
$77,891,729
$81,450,625
$86,108,936
$86,477,897
39.47%
APPROPRIATIONS SUBJECT TO LIMITATION
City of Lodi
Fiscal Year 2014-15
A.PROCEEDS OF TAXES
B. EXCLUSIONS
C. APPROPRIATIONS SUBJECT TO LIMITATION
D. CURRENT YEAR LIMIT
34,129,895
�— 0
34,129,895
86,477,897
EXHIBIT C
(Exhibit F)
(Exhibit D)
(A -B)
(Exhibit A)
E. OVER(UNDER) LIMIT (52,348,001) (C -D)
34.129.895 = 39.47%
86,477,897
EXCLUDED APPROPRIATIONS
City of Lodi
Fiscal Year 2014-15
EXHIBIT D
COURT ORDERS
Subtotal None
FEDERAL MANDATES
Subtotal None
QUALIFIED CAPITAL OUTLAYS
Subtotal None
QUALIFIED DEBT SERVICE
Subtotal None
TOTAL EXCLUDABLE None
(Copy to Exhibit C & G)
City of Lodi EXHIBIT E
Schedule to Match User Fees to Costs
Fiscal Year 2014-15
Public Safety Fees
368,650
27,372,990
0
Parks and Rec/Cultural Fees
1,860,360
5,800,190
0
Community Development Fees
359,000
1,238,440
0
PW Engineering Fees
516,610
999,940
0
Library Fees
40,000
1,389,950
0
Total
3,144,620
0
36,801,510
City of Lodi
Fiscal Year 2014-15
Property Taxes
Sales & Use Tax
Business License Tax
Franchise Tax
Transient Occupancy Tax
Real Property -Documentary Tax
In -Lieu Franchise Tax
FROM STATE
Motor Vehicle In Lieu
State H -way Maintenance
Gas Tax
Cigarette tax
Transportation Development Act
TDA-PedestrianBike Path
SB 300 Transportation Partnership
Measure K Funds
State Reimbursements -POST
Public Library grants
PERS Rebate
SB90 Reimbursements
Asset Seizure Funds/Auto Theft
Drug Suppression Grant
State special grants
Traffic Congestion Relief
State STIP reimbursement
LOCALLY RAISED
Fines, Forfeitures, Penalties
Licenses and permits
Rent of City Property
Development Fees
USER FEES
(from Exhibit E)
OTHER MISCELLANEOUS
Sale of Property
Restitution -Damage to Property
Other revenue
Interfund Transfers
EXHIBIT F
Calculation - Proceeds of Taxes
8,502,480
81502,480
10 190,000
330,000 10,520,000
1,510.000
1,510,000
1,776,720
1,776,720
550.000
550,000
130,000
130,000
7,033,360
7 033 360
4,410,350
11.400
4,410,350
11,400
1.594,640
1594,640
062,500
0
1,300,000
1,300,000
39AW
39,400
0
0
875,000
875,000
401000
40,000
10,000
10,000
p
0
50,000
50,000
p
0
301,410
301,410
1,356,460
1,356,460
0
0
0
0
1,437,400
1,437,400
708,840
708,840
062,500
1,962,500
425,280
425,280
SUB -TOTAL
34,102,910 18,406,360 11 52,509,270
(for Exhibit G)
INTEREST EARNINGS
26,985 14565 41,550
(from Exhibit G)
TOTAL REVENUE
34129-895 18,420,925 52,550,820
(use for Exhibit C)
0
RESERVE WITHDRAWALS
(Including appropriated Fund Balance)
52.550,820
TOTAL OF THESE FUNDS
1 I /i,433,640
OTHER FUNDS NOT INCLUDED
169,034.460
GRAND TOTAL BUDGET
Interest Earnings
Produced by Taxes
City of Lodi
Fiscal Year 2014-15
A. NON-INTEREST TAX PROCEEDS
B. MINUS EXCLUSIONS
C. NET INVESTED TAXES
D. TOTAL NON-INTEREST BUDGET
E. TAX PROCEEDS AS PERCENT
OF BUDGET
F. INTEREST EARNINGS
G. AMOUNT OF INTEREST EARNED
FROM TAXES
H. AMOUNT OF INTEREST EARNED
ON NON -TAXES
I. Take the result of steps #G & H
Copy on to Exhibit F
EXHIBIT G
�— 34,102,910 -(Exhibit F)
�— 0 (Exhibit D)
347102,910 (A -B)
52,509,270 ^(Exhibit F)
�T 64.95% (CID)
41,550
26,985 (E'�F�
I — 14,565 (F -G)
City Council Meeting
June 4, 2014
udget I
Overview
■ General Fund balanced
■ Significant issues
■ Major capital projects
2
All Funds
■ Total appropriation of $179,553,990
■ Total revenue of $178,813,670
■ Decrease in reserves of $740,320
o Enterprise funds (-$2.8M)
o Special Revenue ($0.3M)
o Others ($1.8M)
3
General Fund
■ Balanced without using reserves
■ Total revenues and appropriations of
$43,591,060
4
General Fund Overview
General Fund
Fund Balance
Beginning Fund Balance Unreserved
Revenues
Expenditures
Net Difference (Revenues Less Expenditures)
Audited
2011-12
Actuals
Audited
2012-13
Actuals
2013-14
Budget
Estimated
2013-14
Actuals
2014-15
Budget
5,597,678 6,164,685 7,044,415 7,559,467 7,520,074
40,520,257 41,380,988 42,198,820 42,781,478 43,591,060
39,953,250 39,986,206 43,145,555 42,820,871 43,591,060
567,007 1,394,782 (946,735) (39,393) -
Fund Balance
Ending Fund Balance Unreserved* 6,164,685 7,559,467 6,097,680 7,520,074 7,520,074
*Composed of Catastrophic & Economic reserve ($3,487,300 each); DIVCA reserve ($300,000); available 5
reserve ($245,474)
Labor
■ 382 funded positions
0 4 more than prior year
■ Heavy Equipment Mechanic
■ Watershed Program Coordinator
■ Parks Supervisor
■ Electrical Engineer
■ All labor agreements expire in 2014/15
(except IBEW)
9
PERS Projections
2014/15
2015/16*
2016/17*
2017/18*
2018/19*
2019/20*
Miscellaneous 18.002%
19.6%
21.2%
22.8%
24.4%
26.1%
Safety
Estimated Cost
38.490% 40.4% 42.3% 44.3% 46.2% 48.1
$7.8M $8.3M $9.1M $9.9M $10.8M $11.7M
*Projected rates from PERS
Does not account for mortality increases beginning in 2016/17
Maior CarAtal Projects J
■ White Slough Pollution Control Facility
Improvements ($6.8M)
■ Financial Systems Replacement ($0.75M)
■ Electric System Maintenance ($2.4M)
■ Road Maintenance/Resurfacing ($0.9M)
■ Water System Improvements ($2.5M)
■ Boat Launch Upgrades ($0.7M)
1.1
Action Requested J
■ Adopt resolution approving the City of
Lodi Financial Plan and Budget for FY
2014/15 and approving the FY
2014/15 Appropriation Spending Limit
E