HomeMy WebLinkAboutReso 118-2008RESOLUTION NO. 118-2.008
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AMENDING THE 2008-09 OPERATING
BUDGET TO ADJUST REVENUES AND EXPENDITURES AT 1St
QUARTER
WHEREAS, staff has presented the City Council with a review of the City's finances for the
1st quarter of fiscal year 08-09; and
WHEREAS, it is recommended that the City Council review the 2008-09 1St Quarter
Financial Report and approve the 1St Quarter 2008-09 Budget Amendment Changes included as
"Attachment lA" hereto.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco hereby amends the 2008-09 Operating Budget to reflect the changes shown on Attachment
B.
* * ~ * ~
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 Addiego and Mayor Karyl Matsumoto
NOES: None
ABSTAIN: None
ABSENT: None
ATT~ST`._ ~ -~
~,, ~,.,,./ City erk
Attachment 1
1'` Quarter 2008-09 Budget Amendment Changes
General Fund Revenues
1) Property Taxes: an increase of $780,000.
2) Transient Occupancy Taxes: an increase of $122,000.
3) Child Care Program: an increase of $184,000.
4) Sales Tax: a decrease of $580,000.
5) Building Permits: a decrease of $700,000.
6) Grading and Public Works Permits: a decrease of $140,000.
7) Fire Permits: a decrease of $100,000.
8) Parking Taxes: a decrease of $75,000.
9) Investment Interest Income: a decrease of $76,000.
General Fund Expenditures
1) Retiree Health Costs: amend up $575,000.
Redevelopment Agency
1) An increase in Property Tax Increment of $6,600,000.
2) A decrease in Prior Year Tax Adjustment of $3,800,000.
3) An increase in transfers to the 20% housing fund of $1,750,000.
4) An increase in Pass-through Expenses of $2,100,000.
CITY OF SOUTH SAN FRANCISCO OPERATING BUDGET, 2008-09
ATTACHMENT2
GENERAL FUND SUMMARY, 1st Quarter Update 2008-09
Variance to
1st Amend. Budget
Actual Actual Adopted Amended Cdr Favorablel
2006-07 2007 08 2008 09 2008 09 POn (Unfavorable) % Variance
Revenues and Other
Financing Sources
Property Taxes 12,992,109 14,029,884 14,390,507 14,390,507 15,170,2!8 779,791 5%
0%
ERAF Refund from County 1,410,472
418
753
12 1,429,004
431
481
12 780,000
715,229
12 780,000
12,715,229 7110,000
12,133,338 -
(579,896) 0.
-4.6%
Sales Tax
Transient Occupancy Tax ,
,
5,959,034 ,
,
7,098,285 ,
6,450,000 6,450,000 8,371,782 121,732 1.9%
Motor Vehicle In Lieu Fees 4,617,897 4,875,710 5,015,520 5,015,520 5,015,580 - 0.0%
0%
0
Revenue from Other Agencies 1,657,142 1,588,530 999,400 1,005,400 1,003,4x0 - .
0
0%
Franchise Fees 3,137,208 3,148,076 3,313,000 3,313,000 3,313,000 - .
Business License 653,339 659,703 1,052,000 1,052,000 1,052,000 - 0.0%
~ 2%
Commercial Parking Tax 1,124,927 1,930,331 2,306,637 2,306,637 2,231,7$$ (74,839) -
Building and Fire Permits 4,957,891 3,125,990 3,520,000 3,520,000 2,~($0,i~#3 (939,317) -2ti.7%
2%
Charges for Services 6,628,277 6,332,600 5,818,200 5,818,200 d002,2A0 184,000 3.
0%
0
Fines 1,043,528 1,077,003 1,140,000 1,140,000 4,140,000 - .
Interest 985,631 1,046,866 650,000 650,000 374,000 (76,000) -11.7%
Net Change Investment Value
66,204
837
693
2
299,068
509,670
2
-
2,686,281
-
2,686,281
2,bi6,281 _
0.0%
Rent
Administrative Charges ,
,
2,018,500 ,
2,118,614 2,225,000 2,225,000 .2,225,0$'0 _ 0.0%
0
0%
Other 837,109 697,312 618,710 618,710 $11,710 .
0
0%
Transfers In 9~3 120
643
529
64 925 089
65 373 165 815,749
64,496 233 815,749.
64,502,233 !{45,7#8
83„!1'!7,703 -
(584,528) .
-0.91%
Subtotal Revenues ,
,
Plus Prior Year Carryovers 210,849 210,849
Variance to
1st Amend. Budget
Actual Actua{ Adopted Amended
2008-09 qtr
~ Favorable!
(Unfavorable)
% Variance
2006 07 2007 08 2008-09
Operating
Budget Expenditures
Administration 5,058,374 5,923,991 5,847,110 5,927,633
996 5,!27,133
472,986
3 -
_ 0.0%
0 0%
Economic & Comm. Dev. 3,990,985
670
164 3,215,845
671
16
893 3,060,610
207
609
16 3,172,
16,609,207 ,
4$$#f8,~fi7 0.0%
Fire ,
15,
009
399
4 ,
,
766,810
4 ,
,
4,538,421 4,552,021 4,x,421 `1-0%
Library
Police ,
,
17,907,675 ,
18,665,949
19,428,219
19,446,159.
48;348,1!1! _ 0.0%
0
0%
Public Works 7,846,538 4,208,434 3,754,335 3,754,335
990
11 2,754*
844
711 _ .
0.0%
Parks and Recreation 4,927,347 10,828,733 10,711,990 10,7
, ,
1,
~5'~ 575,000)
(
Retiree Health Cost Increase 000
400 400,000 400,000 - 0.0%
Provision for State budget hits ,
Excess ERAF Refund - 656,000 656,000
Net Operating Budget Impact (364,787) (503,528)
CITY OF SOUTH SAN FRANCISCO OPERATING BUDGET, 2008-09
ATTACHMENT 3
Total General Fund Operating and Capital Budget,
& Projected Changes to General Fund Reserves
ts! ~#r+~sr
Actual Actual Adopted A
2006-07 2007-08 2008-09
Net Operating Budget Impact (from Table I) $ 5,235,045 $ 825,828 $ 146,341 ~: x,787}
Less Transfers to Capital Projects: (826,253) (545,304) (1,403,500) ~8~~~
Less Transfers to Retiree Health Fund (4,000,000) (500,000) (r0i~)
Less Transfers to 6ebt Service (243,305} (210,000) (210,000) ~~U.
General Fund Reserves Projection
I. Discretionary Reservesl
Liquid Reserves Available
Emergencies
1,291,000 1,272,000 1,290,000 'f.~1
Economic Contingencies 4,517,000 4,452,000 4,515,000 4 QQD
Designated for future Economic Development and
Capital Projects 5,610,000 4,399,131 3,695,589 ;,~i
Designated for Post-Employment Health Benefits 3,000,000
II. Non-Discretionary Reservesl
Reserves Already Committed
Encumbrances 677,478 210,849
Advances to Other Funds
Inventory and Other
55,425 45,210
45,210 45,9(}
Appropriated Capital Projects 793,615 1,344,569
Subtotal, Non Discretionary (Committed) Reserves 1,526,518 1,600,628 45,210 `_
ATTACHMENT4
MERGED REDEVELOPMENT PROJECT AREA SUMMARY
Summary of Revenues and Expenditures
Variance to
Amend. Budget
Actual Actual Adopted Projected Favorable!
2006-07 2007-08 _ 2008-09 2008-09 (Unfavorable} % Variance
REVENUES
Gross Tax Increment Allocated
Gateway 7,465,681 8,519,479 8,173,154 8,853,961 680,806 8.3%
Shearwater 3,202,423 3,847,502 3,334,927 5,936,854 2,601,928 78.0%
Downtown 10,145,145 12,749,421 12,602,501 18,197,328 5,594,827 44.4%
~I Camino 2,915,991 3,445,927 3,954,947 3,826,538 (128,409) -3.2%
Subtotal 23,729,240 28,562,329 28,065,529 36,814,681 8,749,152 31.2%
Less ERAF shift - - (1,760,000) (1,760,000)
Adjustments: Other Appeals ~ Settlements 2,217,703 (753,117) - (300,000) (300,000)
Adjustments: County Admin & Other (164,858) (434,315) (280,655) (368,147) (87,492) 31.2%
Rent 162,592 104,859 105,000 105,000 - 0.0%
Interest & Other 2,530,307 3,324,354 1,274,000 1,274,000 - 0.0%
TOTAL SOURCES OF FUNDS: 28,474,984 30,804,110 29,163,874 35,765,534 6,601,660 22.6%
Variance to
Amend. Budget
Actual Actual Adopted Projected Favorable!
2006-07 2007-08 2008-09 2008-09 (Unfavorable} % Variance
EXPENDITURES
Redevelopment Activities 2,053,551 2,842,811 4,357,835
000
00 4,357,835
- -
000)
(3
800 0.0%
-100.0%
Prior Year Tax Adjustment 8,416,485 ,
3,8 ,
, 0
0%
Capital Outlay 14,029 36,506 61,000 61,000 - .
Debt Service 3,103,991 4,865,618 5,115,751 5,115,751 - 0.0%
Special Projects 900,000 900,000 - 0.0%
County Settlement 689,481 823,872 850,000 850,000 - 0.0%
Transfers to LowlModerate Income
681
4
600
843
561
5
5,583,106
7,332,936
1,749,830
31.3%
Housing Fund ,
, ,
,
Pass Through Payments to Taxing Entities
466
203
324
034
463,043
641,623
178,580
38.6%
Gateway
Shearwater ,
825,987 ,
1,003,929 884,294 1,678,592 794,298 89.8%
Downtown 2,261,955 3,072,717 3,049,710 4,197,903 1,148,193 37.6%
EI Camino 245 826 254 941 317 467 290.641 (26,826) -8.4%
Subtotal, Pass Through Payments 3,537,234 4,655,621 4,714,514 6,808,760 2,094,245 44.4%
Capital Protects
Tax Increment-Funded Projects, Current
59,650
14,658,664
1,235,800
1,235,800
-
0.0%
Tax Increment Carryovers from Prior Year 3,793,506 3,793,506
Subtotal, Capital Projects 59,650 14,658,664 1,235,800 5,029,306 3,793,506 307.0%
TOTAL USES OF FUNDS: 14,058,618 41,861,419 25,618,006 30,455,588 3,837,581 14.4%
Excess of Revenues over (under}
Expenditures 14,416,366 (11,057,309) 2,545,867 5,309,946
Prior Year Audit Adjustment
Fund Balance 41,337,292 30,279,982 35,589,929
Reserved for Loans Receivable 206,094 264,215 564,215
Designated for Capital Projects 8,163,360 1,424,606 -
727
409
29
Reserved for Advances to Other Funds 12.200,215 19,409,727 ,
,
All Other Reserved Funds 348,606 291,166 -
Unreserved / Undesignated
Fund Balance 20,419,017 8,890,269 - 5,615,987