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HomeMy WebLinkAboutReso 117-2008RESOLUTION NO. 117-2008 CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION APPROVING VARIOUS BUDGET ACTIONS THAT ALLOW STAFF TO CLOSE THE BOOKS FOR FISCAL YEAR 2007-08 WHEREAS, staff recommends authorizing various budget changes as described below. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San Francisco hereby approves various budget actions shown that allows staff to close books for the 2007-08 fiscal year. Taking these actions will result in a General Fund Undesignated Reserve of approximately $5.4 million as of June 30, 2008. Those budget actions are: • Add $104,000 to the City Attorney's Office to cover litigation, covered by additional recovery from a delinquent hotel operator. • Add $409,00() to the Fire Department Budget to cover higher gasoline costs and a high number of final leave balance paymen;.s for long term employees who were retiring. • Add $116,000 to the Non-departmental. Budget to cover a pending property tax judgment. • Add $1.3 million to the Oyster Point Fund budget to cover interest expense on the advance made by the Redevelopment Agency. • Confirm the Reserves shown on Exhibit A-2 • Authorize the Finance Director to make final adjustments to revenues and expenditures and Reserves as a result of any audit comments that occur during the final external auditor review, in conformance with generally accepted accounting standards. ~ ~ * ~ ~ ~ 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 17t" day of December, 2008 by the following vote: AYES: Councilmembers Pedro Gonzalez, Richard A. Garbarino, and Kevin Mullin, Vice Mayor Mark Addie~o and Ma o~Karyl Matsumoto NOES: None ABSTAIN: None ABSENT: None ATTEST: ~ ' ,,~ ° City lerk ,~ __ ~' ~, CITY OF SOUTH SAN FRANCISCO OPERATING BUDGET, 2007-OS Exhibit A-1 GENERAL FUND SUMMARY, YEAR-END 2007-08 Variance to Final Midyear Final Amended Amended Budget Actual Actual Adopted Budget Budget Actual Favorable/ 2005-06 2006-07 2007-08 2007-OB 2007-OS 2007-08 (Unfavorable) Percent Revenues and Other Financing Sources Property Taxes 11,776,863 12,992,109 13,487,768 13,954,334 13,954,334 14,029,883 75,549 0.5% ° ERAF Refund from County 1,871,955 1.410,472 750,000 1,311,000 1,311,000 1,429,004 118,004 ,0 9.0 0 5% Sales Tai: 12,251,284 12,753,418 13,370,000 12,419,046 12,419,046 12,481,431 62,385 . 7% 12 Transient Occupancy Tax 5,469,708 5,959,034 5,900,000 6,300,000 6,300,000 7,098,285 796,285 . 1 8% Motor Veh~cfe In Lieu Fees 4,460,748 4,617,897 4,788,000 4,788,000 252 493 1 4,788,000 858 388 1 4,875,710 530 1 588 87,710 199,672 . 14.4% Revenue from Other Agencies 1,522,527 1,657,142 7 208 1,006,500 000 350 3 , , 000 150 3 , , 3,150,000 , , 3,148,076 (1,924) -0.1% Franchise Fees 2,858,554 614 516 3,13 , 653 339 , , 630,000 , , 657,000 657,000 659,703 2,703 0.4% Business License Cornrnercial Parking Tax , 1,140,846 , 1,124,927 1,200,000 1,756,537 1,756,637 1,930,331 990 125 3 173,694 (609 010) 9.9% -16.3% Budding and Fire Permits 4,727,494 4,957,891 4,275,000 3,735,000 6 200 3,735,000 623 937 5 , , 332 600 6 , 394,977 6.7% Charges for Services 5,736,520 085 89 6,628,277 528 043 1 5,376,200 000 125 1 , 5,37 1,i 25,000 , , 1,125,000 , , 1,077,003 (47,997) -4.3% Fines , 8 495 767 , , 631 985 , , 750,000 850,000 850,000 1,046,866 196,866 23.2% Interest Net Chanoe Investment Value , -54,909 , 66,204 020 3 020 2 603 020 603 2 299,068 2,509,670 299,068 (93,350) -3.6% Rent 2,526,995 774 986 1 2,693,837 500 016 2 , 2,60 2,119,000 , , 2,119,000 , , 2,119,000 2,118,614 (386) 0.0% Administrative Charges , , 783 639 , , 837 109 569,250 569,250 569,250 697,312 128,062 22.5% Other , 579 2 293 , 120 993 897,500 897,500 958,235 925,089 (33,146) -3.5% Transfers In , , , Total Revenues: 61,479,819 64,529,643 62,197,238 62,863,480 63,622,003 65,373,164 1,751,161 2.8% Plus Prior Year Carryovers fi77,478 Total Revenues and Other 819 479 $ 61 64,529,643 62,197,238 63,540,958 63,622.003 65,373,164 Financing Sources , , Variance to Final Midyear Final Amended Amended Budget Actual Actual Adopted Budget Budget 2007-08 Actual 2GJ7-OB Favorable! (Unfavorable) Percent 2005-06 2006-07 2007-OS 2007-08 Expenditures 344 4 882 058.374 5 5,409,774 5,752,911 5,742,952 5,923,991 (181,039) -3.2% Administration Economic & Comm. Dev. , , 3,430,070 , 3.990,985 3,703,647 4,095,128 3,222,928 301 8 3,215,845 671 16 893 7,083 370) (408 2.5% Fire 14,826,794 15,164,670 9 15,528,484 606 580 4 16,142,516 70fi 4 668 16,4 5, 4,785,503 , , 4,766,810 , 18,693 0.4% Library 4,064,638 302 259 16 4.399,00 675 907 17 , , 18,888,620 , , 18,$88,620 18,671,565 18,665,949 5,616 0.0% Poi~c•e Public VVOrks , , 7,136,058 , . 7,846,538 8,286,334 8,302,765 4,235,779 1 351 4,208,434 733 10 828 27,345 618 2 0.6% 0.0% Parks 8 Recreation 4,631,304 4,927,347 5,158,427 5,162,987 , 10,83 , , , Subtotal, Operating i 511 230 55 294,598 59 61,556,092 63,013,633 63,975,379 64,503,434 (528,055} -0.8% tures Budget Expend , , , Net Operating Budget Impact $ 6,249.308 S 5,235,045 $ 641,146 ~ 527,325 S (353,375) $ 869,730 CITY OF SOUTH SAN FRANCISCO OPERATING BUDGET, 2007-08 Exhibit A-2 Total General Fund Operating and Capital Budget, & Projected Changes to General Fund Reserves Actual Actual Adopted Midyear Actual 2005-06 2006-07 2007-08 2007-08 2007-08 Net Operating Budget Impact (from Table f) 6,249,308 $ 5,235,045 $ 641,146 $ 527,325 $ 869,730 Less Transfers to Capital Projects: (471,129) (826,253) (1,030,300) (1,914,411) (545,304) Less Transfers to Debt Service (130,000) (243,305) (150,000) (210,000) (210,000) Less Transfer of Retiree Health Reserve to Benefits (4,000;000) Fund {1): = Net Impact on General Fund Reserves $ 5,648,179 $ 4,165,487 $ (539,154) $ (1,597,086) $ {3,885,574) General Fund Reserves Projection I. Discretionary Reserves! Liquid Reserves Available Emergencies 1,200,000 1,291,000 1,244,OD0 1,257,000 1,307,000 Economic Contingencies 4,211,000 4,517,000 4,354,000 4,400,000 4,576,000 Designated for future Economic Development and Capital 000 4 950 610,000 5 3,504,700 4,256,589 4,399,131 Projects , , , Designated for Post-Employment Health Benefits Undesignated Reserve Subtotal, Discretionary (Available) Reserves II. 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 i .Authorized by Council in the Midyear Budget Amendment 3,000,000 1,000,000 4,000,000 5,890,360 5,261,260 6,992,929 5,649,893 5,437,445 $ 16,251,360 $ 19,679,260 $ 17,095,629 $ 19,563,482 $ 15,719,576 408,357 677,478 45,210 55,425 335,364 793,615 210, 849 45,210 45,210 45,210 1,344,569 $ 788,931 1,526,518 45,210 45,210 i,6uu,6~u $ 17,040,291 21,205,778 17,140,839 19,608,692 $ 17,320,204