AGENDA CAPTION:
Title
Consider approval of Ordinance 2024-59, on the first of two readings, amending the City’s 2024-2025 Fiscal Year budget to carry forward funds from the 2023-2024 Fiscal Year; to adjust revenue and expenditure accounts in multiple operating, special revenue, and internal service funds; including procedural provisions; and declaring an effective date.
Body
Meeting date: December 3, 2024
Department: Finance Department
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: N/A
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Background Information:
This is the first budget amendment for Fiscal Year 2024-2025. During the fiscal year, the purchasing process will begin for certain projects, services, or operational supplies and will not be completed until the following fiscal year. The purpose of this budget amendment is to carry forward purchase orders and contracts for goods and services that began in Fiscal Year 2023-2024 and were not received or completed by the end of the fiscal year. It also includes items to adjust revenue and expenditure accounts in multiple operating, special revenue, and internal service funds.
Carry forward amounts tied to purchases from Fiscal Year 2024 and other needed amendments by fund are as follows. Under each fund is a summary of the larger carryforward amounts.
• General Fund - $2,610,057
o Information Technology - $416,000 to replace the City’s file storage solution
o Human Services Advisory Board - $341,818 to award the remaining 2024 calendar year grants to the various organizations
o General Fund Special Services - $244,100 to upfit vehicles for Police and Fire that were not received in Fiscal Year 2024 from the 2024 vehicle order
o Streets - $151,110 to finish sidewalk projects started in Fiscal Year 2024
o Parks and Recreation - $132,642 to fund deferred capital outlay equipment
o Fire - $122,399 to fund a vehicle not received during Fiscal Year 2024
o Traffic Operations - $114,528 to fund deferred capital outlay equipment
o Public Works Administration - $100,000 to fund new parking programs that were not completed in Fiscal Year 2024
o Facilities and Grounds - $96,213 to finish facility maintenance projects started, but not completed, in Fiscal Year 2024
• Special Revenue - $2,497,694
o Park Improvement Funds-Parkland Development Fee - $1,000,000 to improve splash pad flooring, tennis courts, Mill Street Park, and natural playground equipment at The Retreat at Willow Creek
o Park Improvement Funds-Tree Fee-In-Lieu - $500,000 to help fund our U.S. Forest Service Grant, tree plantings, and community giveaways
o Park Improvement Funds-Fee-In-Lieu of Parkland - $500,000 to improve trails in Cottonwood Creek Natural Area, City Park playground equipment, and installation of security cameras in Children’s Park
o Tax Increment Reinvestment Zone (TIRZ) #5-Downtown - $357,039 to align budget to board approved amounts for operations and projects
o Hotel Occupancy Tax - $49,450 to finish tourism projects started, but not completed, in Fiscal Year 2024
• Stormwater - $11,685
o Stormwater Special Services - $7,500 to upfit a vehicle that was not received in Fiscal Year 2024 from the 2024 vehicle order
• Electric Utility - $1,265,730
o Maintenance - $731,856 to fund vehicles not received during Fiscal Year 2024
o Operations - $262,514 to fund equipment not received during Fiscal Year 2024
• Water-Wastewater Utility - $6,858,021
o Special Services - $5,000,000 to cash fund Fiscal Year 2025 Capital Improvement Projects
o Distribution - $709,375 to fund vehicles not received during Fiscal Year 2024
o Maintenance - $553,392 to fund vehicles not received during Fiscal Year 2024
o Collections - $348,618 to fund equipment and vehicles not received during Fiscal Year 2024
• Transit - $21,168
o Administration - $21,168 to complete services for the Highway 80 and Redwood bus stops
• Health Insurance - $1,618,000
o Health insurance - $1,618,000 to account for Fiscal Year 2024 actuals coming in significantly higher than anticipated
Alignments to revenues by fund are as follows. The increase in the Tax Increment Reinvestment Zone Fund is due to the Country Tax Rate being adopted at a higher rate following the adoption of the budget and the increase to the Health Insurance Fund is due to an increase in employee’s contribution amounts for medical and dental plans.
• Tax Increment Reinvestment Zones (TIRZ) - $142,859
o TIRZ #3 - $49,984
o TIRZ #4 - $52,362
o TIRZ #5 - $40,513
• Health Insurance (Internal Service Fund) - $110,000
Below is a table that shows the total requested revenue and expense amendments by Fund. Attachment Exhibit A shows the amount being amended by fund and account and includes a brief explanation.
Council Committee, Board/Commission Action:
N/A
Alternatives:
N/A
Recommendation:
City Council approve the ordinance amending the City’s 2024-2025 Fiscal Year budget.