HomeMy WebLinkAboutReso 18-2005 RESOLUTION NO. 18-2005
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING AN AMENDMENT TO THE 2004-2005
GENERAL FUND OPERATING BUDGET
WHEREAS, staffrecommends to change General Fund revenues by a total of $383,628; and
WHEREAS, staff recommends formally incorporating the fresh start PERS refinancing
savings, approved by Council in September 2004, into the budget; this will result in $1,240,000 in
expenditure savings; and
WHEREAS, staffproj ects that the General Fund will end the fiscal year with a General Fund
Undesignated Reserve of $3.3 million.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that the City Council hereby approves the second quarter financial result changes as shown
in Attachments B-1 and C and approves an amendment to the 2004-2005 General Fund Operating
Budget by changing General Fund revenues by a total of $383,628.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a regular meeting held on the 9th day of February
2005 by the following vote:
AYES: Councilmembers Richard A. Garbarino, Pedro Gonzalez, and Karyl Matsumoto,
Mayor Pro Tem Joseph A. Fernekes and Mayor Raymond L. Green
NOES: None.
ABSTAIN: None.
ABSENT: None.
ATTEST:
City Clerk
Attachment B-1
Midyear 2004-05 General Fund Operating Budget Amendment Changes
Revenues and Other
Financing Sources
Property Taxes
ERAF One Time Refund from
County
Sales Tax
Transient Occupancy Tax
Motor Vehicle In Lieu Fees
Revenue from Other Agencies
Business License
Charges for Services
Fines
Interest
Transfers In
Total Revenues:
Midyear
Budget
Amendment
Changes
-400,000
789,854
-122,841
320,000
117,405
-401,555
110,000
69,000
-74,000
3,000
-27,235
383,628
Expenditures
PERS refinancing
-1,240,000
Attachment C
Midyear 2004-05 General Fund Operating Budget
Revenues and Other
Financing Sources
Property Taxes
ERAF One Time Refund from
County
New State Reimbursement to offset
Sales Tax diversion by State to fund
State Deficit Bonds
Est. of New ERAF Shift from State
Sales Tax
Transient Occupancy Tax
Motor Vehicle In Lieu Fees
Revenue from Other Agencies
Franchise Fees
Business License
Building and Fire Permits
Charges for Services
Fines
Interest
Net Loss on Investments
Rent
Administrative Charges
Other
Transfers In
Total Revenues:
Plus Prior Year Carryovers
Total Revenues and Other
Financing Sources
Amended Midyear
Actual Actual Budget Budget
2002-03 2003-04 2004-05 2004-05
9,622,976
10,732,355 11,202,000 10,802,000
537,460 285,000 1,074,854
Difference from
Midyear to
Amended
Budget
Positive Impact
(Adverse Impact)
-400,000
789,854
12,194,963 11,287,900 11,476,500 11,353,659 -122,841
3,917,243 3,945,974 4,100,000 4,420,000 320,000
3,622,146 2,780,323 2,848,000 2,965,405 117,405
1,286,721 1,220,479 1,622,868 1,221,313 -401,555
1,873,804 2,602,529 2,750,000 2,750,000
1,878,853 1,579,865 1,540,000 1,650,000 110,000
2,054,709 2,459,659 2,451,000 2,451,000
4,554,519 5,925,338 5,103,345 5,172,345 69,000
907,768 1,061,231 1,089,000 1,015,000 -74,000
1,053,492 445,671 417,000 420,000 3,000
(304,194)
1,832,252 2,342,600 2,494,000 2,494,000
1,651,311 1,847,868 2,135,000 2,135,000
468,139 543,992 508,271 508,271
1,168,236 1,406,422 2,645,235 2,618,000 -27,235
$ 48,087,132 $ 50,415,471 52,667,219 53,050,847 383,628
270,693 270,693
$ 48,087,132 $ 50,415,471 52,937,912 53,321,540 383,628
Expenditures
Administration
Economic & Comm. Dev.
Fire
Library
Police
Public Works (formerly Maintenance
Services)
Parks, Rec & Maint. Svcs.
Public Works A29
Recreation and Community Services
PERS refinancing
Subtotal, Operating
Budget Expenditures
6,387,828 5,017,940 5,125,473 5,125,473
2,623,375 2,728,364 3,617,508 3,617,508
11,387,186 13,449,414 15,114,830 15,114,830
3,953,664 4,469,946 4,532,440 4,532,440
12,471,829 13,742,256 15,869,747 15,869,747
5,572,236 5,308,014 5,308,014
10,696,566
1,170,689 1,312,462
4,981,080 5,031,272 5,031,272
-1,240,000
$ 48,691,137 $ 51,273,698 54,599,284 53,359,284
1,240,000
1,240,000
Net Operating Budget Impact $ (604,005) $ (858,227) (1,661,372) (37,744)
Attachment C
Total General Fund Operating and Capital Budget,
& Changes to General Fund Reserves
Net Operating Budget Impact (from Table I)
Less Transfers to Capital Projects:
Less Transfers to Debt Service
Plus (Minus) One-Time Transactions:
Plus Favorable Resolution of Genentech Property Tax
Settlement:
Plus (Minus) Favorable (Unfavorable) Reduction in funds
set aside for legal settlement:
Less Unfavorable Increase in Projected Workers'
Compensation Liability:
Net Impact on General Fund Reserves
Year End
Actual
2002-03
$ (604,005)
(733,000)
(452,000)
1,122,000
700,000
(1,200,000)
Year
End
2003-04
$ (858,227)
(87,606)
(103,167)
(238,362)
Adopted Midyear
Budget Budget
2004-05 2004-05
(227,907) (37,744)
(237,500) (626,044)
(130,000) (130,000)
(1,167,005) $ (1,287,362) (595,407) (793,788)
IGeneral Fund Reserves Projection
I. Discretionary Reserves/
Liquid Reserves Available
Emergencies
Economic Contingencies
Designaged for future Economic Development Projects
Undesignated Reserve
SUbtotali Discreti°na~Y (Available) Reserves
I1. Non-Discretionary Reserves/
Reserves Already Committed
Encumbrances
Advances to Other Funds
inventory and Other
Appropriated Capital Projects
Subtotal, Non Discretionary (Committed) Reserves
Total General Fund Reserves
1,000,000 1,000,000 1,000,000 1,000,000
3,500,000 3,500,000 3,500,000 3,500,000
3,600,000 3,600,000 3,600,000 3,600,000
4,323,000 3,852,647 3,976,231 3,718,096
$12;423,000 $ 11i952,647 $ 12,076i231 $ 11,818i096
283,000 270,693
845,000
51,000 93,754
391,000 388,544
34,000 93,754
$ 1,570,000 $ 752,991 34,000 93,754
$13,993,000 $ 12,705,638 12,110,231 11,911,850