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HomeMy WebLinkAbout2022-001 FY 21-22 Midyear BudgetRESOLUTION NO. 2022-1 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING THE FY2021-2022 ANNUAL OPERATING BUDGET FOR MID-YEAR ADJUSTMENTS Whereas, the City Council has a policy of adopting an annual operating budget to plan expenditures and to match anticipated revenues available in various City accounts to make the most efficient use of the City’s limited resources for each fiscal year; and Whereas, the City of Lake Elsinore Municipal Code Section 3.04.010 defines the fiscal year for the City of Lake Elsinore as extending from July 1st of each year to and including June 30th of the following year. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The City of Lake Elsinore FY2021-2022 Mid-Year Annual Operating Budget is hereby approved as amended for the 2021-2022 fiscal year per attached Exhibit A. Section 2. This Resolution shall take effect from and after the date of its passage and adoption. Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore, California, this 11th day of January 2022. Timothy J. Sheridan Mayor Attest: Candice Alvarez, MMC City Clerk / // DocuSign Envelope ID: 99A822FB-E492-45E6-A521-E1F3BCD9AB09 CC Reso. No. 2022-1 Page 2 of 2 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LAKE ELSINORE ) I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Resolution No. 2022-1 was adopted by the City Council of the City of Lake Elsinore, California, at the Regular meeting of January 11, 2022 and that the same was adopted by the following vote: AYES: Council Members Magee, and Tisdale; Mayor Pro Tem Johnson; and Mayor Sheridan NOES: None ABSENT: Council Member Manos ABSTAIN: None Candice Alvarez, MMC City Clerk DocuSign Envelope ID: 99A822FB-E492-45E6-A521-E1F3BCD9AB09 DRAFT 12-30-2021 CITY OF LAKE ELSINORE, CALIFORNIA FY20-21 ACTUALS FY21-22 CURRENT BUDGET FY21-22 YTD ACTUALS @ 12/31/21 FY21-22 MIDYEAR BUDGET $Inc/(Dec) % Inc/ (Dec) Revenues: Sales Tax 14,600,212$ 12,850,770$ 4,142,501$ 12,912,150$ 61,380$ 0.48% Sales Tax - Measure Z - 11,250,000 3,979,253 14,718,150 3,468,150 23.56% Property Tax 9,138,141 9,584,480 162,699 9,584,480 - 0.00% Franchise Tax 2,747,871 2,616,750 558,747 2,616,750 - 0.00% Building Permit Fee 1,418,700 1,140,060 540,538 1,440,060 300,000 20.83% Property Transfer Tax 539,505 405,260 220,784 405,260 - 0.00% Other Taxes 565,362 429,060 302,113 429,060 - 0.00% Licenses & Permits 2,306,772 2,435,680 1,330,357 2,413,680 (22,000) -0.91% Intergovernmental 998,607 895,274 362,907 1,326,520 431,246 32.51% American Rescue Plan - 2,068,727 2,068,727 2,068,730 3 0.00% Fees 3,200,084 3,351,220 2,567,311 5,340,370 1,989,150 37.25% Fines & Forfeitures 329,356 560,400 228,071 454,400 (106,000) -23.33% Tax Credit 3,381,748 3,381,300 935,412 3,702,050 320,750 8.66% Investment Earnings 63,422 412,980 (75,032) 413,460 480 0.12% Reimbursements & Other 3,282,920 4,063,756 1,066,208 4,058,380 (5,376) -0.13% Special Assessments 5,073,085 5,251,810 - 5,251,810 - 0.00% Reimbursements - Public Safety 365,853 413,780 - 413,780 - 0.00% Reimbursements - Street Program - 800,000 - 800,000 - 0.00% Total Revenues 48,011,638 61,911,307 18,390,596 68,349,090 6,437,783 9.42% Expenditures by Department: General Government: City Council 205,646$ 261,140$ 115,495$ 261,140$ -$ 0.00% Community Support 115,003 633,760 207,848 633,760 - 0.00% City Treasurer - - - - - 0.00% City Clerk 557,262 642,520 235,994 642,520 - 0.00% City Attorney 622,112 512,060 127,602 637,060 125,000 19.62% City Manager 1,123,909 993,830 311,737 993,830 - 0.00% Administrative Services Finance 1,472,155 1,317,470 492,150 1,317,470 - 0.00% Human Resources 493,775 517,510 214,489 517,510 - 0.00% Public Safety: Police Services 14,006,496 16,966,030 3,630,375 17,095,900 129,870 0.76% Fire Services 7,050,641 8,748,800 1,973,505 8,748,800 - 0.00% Animal Services 761,875 786,280 354,205 822,190 35,910 4.37% Community Development: Planning 1,042,750 2,087,290 539,208 2,087,290 - 0.00% Building & Safety 1,559,190 1,762,850 610,980 2,037,340 274,490 13.47% Code Enforcement 1,335,384 1,659,940 600,326 1,717,990 58,050 3.38% Economic Development 244,263 304,950 114,227 324,950 20,000 6.15% Fire Prevention 411,130 728,250 142,177 849,920 121,670 14.32% Public Services: Engineering 1,978,012 2,920,570 1,303,284 3,743,540 822,970 21.98% Public Works 2,811,501 4,198,000 1,307,530 4,198,000 - 0.00% Park Maintenance 2,637,033 3,462,910 1,152,852 3,462,910 - 0.00% Lake Maintenance 1,133,391 1,311,750 939,668 1,311,750 - 0.00% Community Services: Recreation 773,057 1,322,960 444,910 1,322,960 - 0.00% Community Center 610,843 1,020,230 282,501 1,020,230 - 0.00% Senior Center 391,965 584,640 168,200 584,640 - 0.00% Neighborhood Center 229,275 641,520 183,141 641,520 - 0.00% Non-Departmental - Operating 1,410,129 2,794,125 212,361 2,794,120 (5) 0.00% Total Expenditures 42,976,797 56,179,385 15,664,765 57,767,340 1,587,955 2.75% Excess of Revenues Over (Under) Expenditures 5,034,841 5,731,922 2,725,831 10,581,750 4,849,828 Operating Transfers: Operating Transfers In 1,008,207 - - - - Operating Transfers out (3,354,994) (5,731,922) - (10,581,750) (4,849,828) Excess of Revenues Over (Under) Expenditures & Op Transfers In/(Out) 2,688,054 - 2,725,831 - - Estimated Year-End Adjustments Fund Balance, Beg. of Year 12,058,871 14,746,925 14,746,925 14,746,925 Fund Balance, End of Year 14,746,925$ 14,746,925$ 17,472,756$ 14,746,925$ SUMMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCE FY2021-22 UNAUDITED - GENERAL FUND FINANCIAL REPORT DocuSign Envelope ID: 99A822FB-E492-45E6-A521-E1F3BCD9AB09 DRAFT 12-30-2021 CITY OF LAKE ELSINORE, CALIFORNIA FY20-21 ACTUALS FY21-22 CURRENT BUDGET FY21-22 YTD ACTUALS @ 12/31/21 FY21-22 MIDYEAR BUDGET $Inc/(Dec) % Inc/ (Dec) SUMMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCE FY2021-22 UNAUDITED - GENERAL FUND FINANCIAL REPORT Detail of Fund Balance Nonspendable: Deposits and prepaid items 25,000$ 25,000$ 25,000$ 25,000$ Loans Receivable 1,000,000 1,000,000 1,000,000 1,000,000 Assigned Uncertainty reserve (17.5%) 8,108,063 10,834,479 2,741,334 11,961,091 Unassigned Unallocated reserve 5,613,862 2,887,446 13,706,422 1,760,834 Total Fund Balance (net) 14,746,925$ 14,746,925$ 17,472,756$ 14,746,925$ DocuSign Envelope ID: 99A822FB-E492-45E6-A521-E1F3BCD9AB09 BEGINNING FUND BALANCE REVENUES APPROPRIATIONS NET TRANSFERS IN/(OUT) PROJECTED ENDING FUND BALANCE FY2021-22 ADOPTED OPERATING BUDGETSFund:001 GENERAL FUND 14,746,925 68,349,090 57,767,340 (10,581,750) 14,746,925 Fund: 101 SUPPLEMENTAL LAW ENF. (SLESF)- 155,000 155,000 - - Fund: 102 MEASURE Z 3,467,581 14,154,150 14,154,150 - 3,467,581 Fund: 103 THE ANCHOR 238,331 1,168,509 1,406,840 - Fund: 104 TRAFFIC OFFENDER FUND - 32,000 32,000 - - Fund: 106 AFFORDABLE HOUSING IN-LIEU 3,588,377 805,100 73,300 - 4,320,177 Fund: 107 DEVELOPER AGREEMENT 124 96,330 96,454 - Fund: 108 AMERICAN RESCUE PLAN - 7,523,600 7,523,600 - - Fund: 110 STATE GAS TAX FUND (OPER & CIP)578 1,533,850 1,534,428 - - Fund: 114 SB1186 CAS EDUCATION FUND 35,721 12,300 4,000 - 44,021 Fund: 115 TRAFFIC SAFETY FUND 13,375 195,700 195,700 - 13,375 Fund: 130 CITY-WIDE LLMD FUND 632,509 2,169,550 2,605,660 - 196,399 Fund: 135 LLMD NO. 1 386,015 755,960 735,520 - 406,455 Fund: 155 NPDES 79,264 1,038,290 1,117,554 - - Fund: 180 LAUNCH POINTE 17,044,492 4,472,000 6,025,010 - 15,491,482 Fund: 300 INSURANCE SERVICES 1,377,573 806,400 790,260 - 1,393,713 Fund: 305 INFORMATION SYSTEMS SERVICES 124,142 1,864,480 1,782,520 - 206,102 Fund: 310 SUPORT SERVICES 38,453 104,820 100,110 - 43,163 Fund: 315 FLEET SERVICES 1,201,767 1,570,550 1,557,470 - 1,214,847 Fund: 320 FACILITIES SERVICES 61,015 870,320 912,610 - 18,725 Fund: 330 CFD 2015-2S MAINTENANCE SERVICES FUND 4,102 182,610 186,712 - - Fund: 341 CFD 2017-1S MISSION TRAIL SERVICES FUND - 9,920 9,920 - - Fund: 342 CFD 2007-5S RED KITE SERVICES FUND - 15,290 15,290 - - Fund: 343 CFD 2006-2S VISCAYA SERVICES FUND - 56,810 56,810 - - Fund: 344 CFD 2005-2S ALBERHILL RANCH SERVICES FUND - 188,870 188,870 - - Fund: 358 CFD 2007-4S MAKENNA SERVICES FUND - 28,300 28,300 - - Fund: 367 CFD 2006-1S SUMMERLY SERVICE FUND - 548,140 548,140 - - Fund: 373 CFD 2005-5S WASSON CANYON SERVICES FUND - 63,120 63,120 - - Fund: 650 CFD 2003-1S LAW, FIRE & PARAMEDIC SERVICES FUND 16,327 3,301,940 3,318,267 - - Fund: 651 CFD 2006-5S PARK, OPEN SPACE & STORM DRAIN SERVICES FUND 1,400 114,950 116,350 - - Fund: 652 CFD 2007-1S LAW, FIRE & PARAMEDIC SERVICES FUND 1,130 114,990 116,120 - - Fund: 653 CFD 2009-1S PARK, OPEN SPACE & STREET LIGHT SERVICES FUND 11,247 741,410 752,657 - - Fund: 655 CFD 2015-1S LAW, FIRE & PARAMEDIC SERVICES FUND 2,003 199,010 201,013 - - OPERATING BUDGET SUBTOTALS 43,072,451 113,243,359 104,171,095 (10,581,750) 41,562,965 FY2021-22 ADOPTED AD/CFD/LERA/PFA BUDGETSFund: 331 CFD 2006-1 IA CC SUMMERLY IMPROVEMENT FUND 249,797 184,210 434,007 - - Fund: 332 CFD 2006-1 IA B SUMMERLY IMPROVEMENT FUND 356,857 188,950 545,807 - - Fund: 333 CFD 2015-4 TERRACINA IMPROVEMENT FUND - 10,500 10,500 - - Fund: 334 CFD 2015-5 TRIESTE IMPROVEMENT FUND 177,777 169,310 347,087 - - Fund: 335 CFD 2003-2 IA E CANYON HILLS IMPROVEMENT FUND 131,219 180,800 312,019 - - Fund: 336 CFD 2006-1 IA FF SUMMERLY IMPROVEMENT FUND 359,546 225,970 585,516 - - Fund: 337 CFD 2016-2 CANYON HILLS IMPROVEMENT FUND 2,163,148 1,143,470 3,306,618 - - Fund: 338 CFD 2006-1 IA JJ SUMMERLY IMPROVEMENT FUND 557,877 330,050 887,927 - - Fund: 339 CFD 2006-1 IA KK SUMMERLY IMPROVEMENT FUND - 285,590 285,590 - - Fund: 340 CFD 2006-1 IA EE SUMMERLY IMPROVEMENT FUND 474,122 291,350 765,472 - - Fund: 345 CFD 2003-2 IA D CANYON HILLS IMPROVEMENT FUND 2,743,732 1,881,670 4,625,402 - - Fund: 346 CFD 2014-1 SOUTHSHORE IMPROVEMENT FUND 7,931 2,000 9,931 - - Fund: 347 CFD 2006-1 IA A SUMMERLY IMPROVEMENT FUND 494,311 244,390 738,701 - - Fund: 350 CFD 98-1 SUMMERHILL IMPROVEMENT FUND 672,798 1,117,400 1,790,198 - - Fund: 351 CFD 2006-1 IA II SUMMERLY IMPROVEMENT FUND 946 385,400 386,346 - - Fund: 354 CFD 90-2 TUSCANY HILLS IMPROVEMENT FUND 115,607 1,415,370 1,530,977 - - Fund: 355 RAD 2021-1 CANYON HILLS IMPROVEMENT FUND - 1,196,890 1,196,890 - - Fund: 357 CFD 2003-02 IA A CANYON HILL IMPROVEMENT FUND 1,354,681 962,810 2,317,491 - - Fund: 366 CFD 2005-6 CITY CENTER TOWNHOMES IMPROVEMENT FUND 268,300 284,850 553,150 - - Fund: 368 CFD 2006-2 VISCAYA IMPROVEMENT FUND 588,715 518,890 1,107,605 - - Fund: 369 CFD 2004-3 IA 1 ROSETTA CANYON IMPROVEMENT FUND 2,138,410 1,686,900 3,825,310 - - Fund: 370 CFD 2006-1 IA HH SUMMERLY IMPROVEMENT FUND 603,698 328,270 931,968 - - Fund: 371 CFD 2005-1 SERENITY IMPROVEMENT FUND 774,583 661,500 1,436,083 - - Fund: 372 CFD 2005-2 IA A ALBERHILL RANCH IMPROVEMENT FUND 2,093,730 1,557,830 3,651,560 - - Fund: 374 CFD 2005-4 LAKE VIEW VILLAS IMPROVEMENT FUND - 12,500 12,500 - - Fund: 375 CFD 2006-4 CLURMAN FUND - 12,500 12,500 - - Fund: 376 CFD 2006-3 LA STRADA IMPROVEMENT FUND 36,528 12,500 49,028 - - Fund: 377 CFD 2006-6 TESSARA IMPROVEMENT FUND 29,219 12,500 41,719 - - Fund: 378 CFD 2006-8 RUNNING DEER ESTATES IMPROVEMENT FUND 9,963 12,500 22,463 - - Fund: 384 CFD 2003-2 IA B CANYON HILLS IMPROVEMENT FUND 2,594,506 1,957,120 4,551,626 - - Fund: 385 CFD 2004-3 IA 2 ROSETTA CANYON IMPROVEMENT FUND 2,498,570 1,863,830 4,362,400 - - Fund: 386 CFD 2007-4 MAKENNA COURT IMPROVEMENT FUND 253,590 194,840 448,430 - - Fund: 387 CFD 2007-5 RED KITE IMPROVEMENT FUND 121,718 136,600 258,318 - - Fund: 388 CFD 2007-6 HOLIDAY INN EXPRESS IMPROVEMENT FUND 7,218 8,470 15,688 - - Fund: 389 CFD 88-3 WEST LAKE VILLAGES IMPROVEMENT FUND 67,745 11,000 78,745 - - Fund: 390 CFD 2003-2 IA C CANYON HILLS IMPROVEMENT FUND 2,014,372 843,720 2,858,092 - - Fund: 392 CFD 95-1 CIVIC CENTER IMPROVEMENT FUND 95,868 167,440 263,308 - - Fund: 393 CFD 93-1 COTTONWOOD HILLS IMPROVEMENT FUND 2,781,111 1,681,380 4,462,491 - - Fund: 394 CFD 2005-5 WASSON CANYON IMPROVEMENT FUND 485,439 280,930 766,369 - - Fund: 395 CFD 2018-1 WASSON CANYON II IMPROVEMENT FUND 4,398 12,500 16,898 - - Fund: 396 CFD 2019-2 NICHOLS RANCH IMPROVEMENT FUND 3,104 12,500 15,604 - - Fund: 397 CFD 2019-1 WESTLAKE IMPROVEMENT FUND - 330,700 330,700 - - Fund: 398 CFD 2021-1 TUSCANY IMPROVEMENT FUND - 2,000 2,000 - - Fund: 400 LE FINANCING AUTHORITY FUND 9,663,329 859,890 302,390 - 10,220,829 Fund: 402 LEFFA 2017 LOCAL OBLIGATION BONDS FUND 4,363,921 292,790 292,800 - 4,363,911 Fund: 403 LEFFA 2020A REVENUE REFUNDING BONDS 15,646,051 350,000 515,000 - 15,481,051 Fund: 510 SARDA AREA I, II, III FUNDS (38,691,452) 24,862,210 5,136,180 - (18,965,422) CITY WIDE ALL FUNDS SUMMARY DocuSign Envelope ID: 99A822FB-E492-45E6-A521-E1F3BCD9AB09 BEGINNING FUND BALANCE REVENUES APPROPRIATIONS NET TRANSFERS IN/(OUT) PROJECTED ENDING FUND BALANCE CITY WIDE ALL FUNDS SUMMARY Fund: 602 LE RECREATION AUTHORITY FUND 90,846 1,127,500 1,218,346 - - Fund: 603 PUBLIC PURPOSE TRUST - CARL GRAVES FUND 57,651 2,000 - - 59,651 Fund: 604 ENDOWMENT TRUST - ADOLPH KORN FUND 5,833 2,000 - - 7,833 Fund: 617 SARDA HOUSING FUND 51,996,170 117,000 1,050,000 - 51,063,170 Fund: 630 LAKE WATER MANAGEMENT ESCROW FUND 2,581,498 1,501,000 1,510,000 - 2,572,498 Fund: 631 DESTRATIFICATION EQUIPMENT REPLACEMENT FUND 536,406 186,000 525,770 - 196,636 Fund: 739 LEPFA 2014 SERIES B FUND 16,018,444 513,980 1,283,690 - 15,248,734 Fund: 740 LEPFA 2015 FUND 94,653,632 2,909,040 6,805,280 - 90,757,392 Fund: 741 LEPFA 2015 SERIES A FUND 2,754,255 71,790 152,540 - 2,673,505 Fund: AD/CFD/LERA/PFA SUBTOTALS 187,007,718 55,615,100 68,943,030 - 173,679,788 FY2021-22 ADOPTED CAPITAL BUDGETFund: 105 GENERAL PROJECTS (OPER & CIP)195,003 - 195,003 - - Fund: 109 SB1 ROAD MAINTENANCE AND REHAB 556,933 1,220,050 1,776,983 - - Fund: 111 TUMF CAPITAL PROJECT FUND 2,719 4,512,500 4,515,219 - - Fund: 112 MEASURE 'A' FUND 1,255,374 1,454,000 2,709,374 - - Fund: 113 SB821 FUND - 245,520 245,520 - - Fund: 116 CITY HALL/P.W. DIF FUND - 100,100 100,100 - - Fund: 117 COMMUNITY CENTER DIF FUND - 70,100 70,100 - - Fund: 118 LAKE SIDE FACILITIES DIF FUND 13,910 120,600 134,510 - - Fund: 119 ANIMAL SHELTER FACILITY DIF FUND 27 50,200 50,227 - - Fund: 121 TOTAL ROAD IMPROVEMENT PRGM (TRIP)14,579 495,940 510,519 - - Fund: 140 GEOTHERMAL FUND 13,908 350 14,258 - - Fund: 150 CDBG FUND - 917,020 917,020 - - Fund: 160 PEG GRANT FUND 51,272 20,600 71,872 - - Fund: 202 LA STRADA RBBD FUND 24,288 50 24,338 - - Fund: 203 SUMMERLY TRAFFIC INFRASTRUCTURE FEE (ELSP)3,412,261 420,500 3,832,761 - - Fund: 205 TRAFFIC IMPACT FEE FUND 542,107 460,100 1,002,207 - - Fund: 211 STORM DRAIN CIP FUND 1,274,685 1,355,100 2,629,785 - - Fund: 221 QUIMBY FUND 682,301 178,100 860,401 - - Fund: 231 LIBRARY CIP DIF FUND 1,279,229 60,100 1,339,329 - - Fund: 232 FIRE PROTECTION DIF FUND 285,804 101,100 386,904 - - Fund: 500 CAPITAL IMPROVEMENT PLAN FUND 8,548,292 53,429,570 54,158,910 - 7,818,952 Fund: 540 SARDA DIAMOND STADIUM FUND 1,909,858 2,958,910 3,382,570 - 1,486,198 Fund: 605 PUBLIC IMPROVEMENTS IN-LIEU FUND 1,587,683 105,100 1,692,783 - - Fund: 606 AB2766 AIR POLLUTION REDUCTION FUND 497,371 55,100 552,471 - - CAPITAL BUDGET SUBTOTALS 22,147,604 68,330,710 81,173,164 - 9,305,150 TOTALS 252,227,773$ 237,189,169$ 254,287,289$ (10,581,750)$ 224,547,903$ DocuSign Envelope ID: 99A822FB-E492-45E6-A521-E1F3BCD9AB09