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HomeMy WebLinkAbout2023-005 Operating Budget Mid-Year Adjustments 2022-2023RESOLUTION NO. 2023-5 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING THE FY2022-2023 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 FY2022-2023 Mid-Year Annual Operating Budget is hereby approved as amended for the 2022-2023 fiscal year per attached Exhibits A and B. 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 24th day of January 2023. Natasha Johnson Mayor Attest: Candice Alvarez, MMC City Clerk DocuSign Envelope ID: 37A969A9-1C34-4D3C-B408-55D6094EDFAA CC Reso. No. 2023-5 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. 2023-5 was adopted by the City Council of the City of Lake Elsinore, California, at the Regular meeting of January 24, 2023 and that the same was adopted by the following vote: AYES: Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson NOES: None ABSENT: None ABSTAIN: None Candice Alvarez, MMC City Clerk DocuSign Envelope ID: 37A969A9-1C34-4D3C-B408-55D6094EDFAA CITY OF LAKE ELSINORE, CALIFORNIA FY21-22 ACTUALS FY22-23 CURRENT BUDGET FY22-23 YTD ACTUALS @ 12/31/22 FY22-23 MIDYEAR BUDGET $Inc/(Dec) % Inc/ (Dec) Revenues: Sales Tax 16,445,263$ 16,311,800$ 4,204,573$ 16,341,290$ 29,490$ 0.18% Property Tax 9,606,584 10,428,720 1,108,196 10,488,740 60,020 0.57% Franchise Tax 2,901,961 2,716,880 636,201 2,716,880 - 0.00% Building Permit Fee 1,511,782 1,174,270 619,372 1,245,970 71,700 5.75% Property Transfer Tax 621,757 502,530 210,066 502,530 - 0.00% Other Taxes 779,621 452,450 209,085 452,450 - 0.00% Licenses & Permits 1,711,503 2,919,730 2,665,588 3,176,340 256,610 8.08% Intergovernmental 181,362 175,440 60,014 189,740 14,300 7.54% Fees 5,408,860 5,669,890 2,007,063 6,130,020 460,130 7.51% Fines & Forfeitures 881,791 698,020 266,962 978,300 280,280 28.65% Tax Credit 3,722,847 3,813,120 - 3,913,120 100,000 2.56% Investment Earnings (619,754) 207,700 (163,005) 207,700 - 0.00% Reimbursements & Other 7,663,323 11,256,340 1,015,359 11,261,200 4,860 0.04% Special Assessments 5,659,438 5,666,210 - 6,611,230 945,020 14.29% Reimbursements - Public Safety 391,966 502,000 30,469 502,000 - 0.00% Reimbursements - Street Program 800,000 1,000,000 - 1,000,000 - 0.00% Total Revenues 57,668,304 63,495,100 12,869,943 65,717,510 2,222,410 3.38% Expenditures by Department: General Government: City Council 240,045$ 271,440$ 153,828$ 312,760$ 41,320$ 13.21% Community Support 564,015 586,110 118,110 493,260 (92,850) -18.82% City Treasurer - - - - - 0.00% City Clerk 703,549 835,820 297,471 834,760 (1,060) -0.13% City Attorney 667,277 637,360 (51,064) 638,250 890 0.14% City Manager 862,325 1,075,700 517,258 1,334,740 259,040 19.41% Administrative Services Finance 1,304,991 1,518,560 658,978 1,657,780 139,220 8.40% Human Resources 540,819 654,700 221,231 696,270 41,570 5.97% Public Safety: Police Services 15,876,391 17,896,210 3,622,130 17,942,570 46,360 0.26% Fire Services 8,015,325 10,013,290 77,378 10,311,650 298,360 2.89% Animal Services 814,818 905,010 435,139 905,010 - 0.00% Community Development: Planning 1,328,697 2,498,020 761,853 2,985,280 487,260 16.32% Building & Safety 1,486,756 1,795,400 671,256 1,864,680 69,280 3.72% Code Enforcement 1,501,144 1,958,590 716,326 1,997,970 39,380 1.97% Economic Development 334,526 374,300 145,588 483,130 108,830 22.53% Fire Prevention 496,565 798,070 91,050 859,350 61,280 7.13% Public Services: Engineering 2,925,212 4,126,720 1,417,744 4,358,980 232,260 5.33% Public Works 3,826,191 4,888,630 1,757,707 5,120,260 231,630 4.52% Park Maintenance 2,941,158 3,600,350 1,562,310 3,650,350 50,000 1.37% Lake Maintenance 1,203,235 1,324,270 1,019,589 1,343,870 19,600 1.46% Community Services: Recreation 1,150,638 1,577,260 603,551 1,622,320 45,060 2.78% Community Center 767,923 1,096,610 422,085 1,176,700 80,090 6.81% Senior Center 492,561 719,500 252,694 754,470 34,970 4.64% Neighborhood Center - 862,270 248,377 892,190 29,920 3.35% Campground 484,300 - - - - 0.00% Non-Departmental - Operating 5,497,813 3,480,910 386,557 3,480,910 - 0.00% Total Expenditures 54,026,274 63,495,100 16,107,146 65,717,510 2,222,410 3.38% Excess of Revenues Over (Under) Expenditures 3,642,030 - (3,237,203) - - Operating Transfers: Operating Transfers In - - - - - Operating Transfers out - - - - - Excess of Revenues Over (Under) Expenditures & Op Transfers In/(Out) 3,642,030 - (3,237,203) - - Estimated Year-End Adjustments Fund Balance, Beg. of Year 13,703,679 17,345,709 17,345,709 17,345,709 Fund Balance, End of Year 17,345,709$ 17,345,709$ 14,108,506$ 17,345,709$ SUMMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCE FY2022-23 UNAUDITED - GENERAL FUND FINANCIAL REPORT DocuSign Envelope ID: 37A969A9-1C34-4D3C-B408-55D6094EDFAA CITY OF LAKE ELSINORE, CALIFORNIA FY21-22 ACTUALS FY22-23 CURRENT BUDGET FY22-23 YTD ACTUALS @ 12/31/22 FY22-23 MIDYEAR BUDGET $Inc/(Dec) % Inc/ (Dec) SUMMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCE FY2022-23 UNAUDITED - GENERAL FUND FINANCIAL REPORT Detail of Fund Balance Nonspendable: Deposits and prepaid items 25,000$ 25,000$ 25,000$ 25,000$ Loans Receivable 1,000,000 1,000,000 1,000,000 1,000,000 Assigned Uncertainty reserve (20%) 10,805,255 12,699,020 3,221,429 13,143,502 Unassigned Unallocated reserve 5,515,454 3,621,689 9,862,077 3,177,207 Total Fund Balance (net) 17,345,709$ 17,345,709$ 14,108,506$ 17,345,709$ DocuSign Envelope ID: 37A969A9-1C34-4D3C-B408-55D6094EDFAA BEGINNING FUND BALANCE REVENUES APPROPRIATIONS NET TRANSFERS IN/(OUT) PROJECTED ENDING FUND BALANCE FY2022‐23 ADOPTED OPERATING BUDGETS Fund:001 GENERAL FUND 17,345,709 65,717,510 65,717,510 - 17,345,709 Fund: 101 SUPPLEMENTAL LAW ENF. (SLESF)- 157,000 157,000 - - Fund: 102 MEASURE Z 13,589,432 15,557,100 22,578,493 - 6,568,039 Fund: 103 THE ANCHOR - 1,261,310 1,261,310 - Fund: 104 TRAFFIC OFFENDER FUND - 21,000 21,000 - - Fund: 106 AFFORDABLE HOUSING IN-LIEU 3,890,128 403,100 4,293,228 - - Fund: 107 DEVELOPER AGREEMENT 59,403 70,767 130,170 - Fund: 108 AMERICAN RESCUE PLAN - 9,977,067 9,405,480 - 571,587 Fund: 110 STATE GAS TAX FUND (OPER & CIP)256,417 1,794,562 2,050,979 - - Fund: 114 SB1186 CAS EDUCATION FUND 44,653 12,600 2,100 - 55,153 Fund: 115 TRAFFIC SAFETY FUND 36,750 173,130 186,505 - 23,375 Fund: 130 CITY-WIDE LLMD FUND 104,088 1,647,640 1,751,728 - - Fund: 135 LLMD NO. 1 754,447 763,029 767,780 - 749,696 Fund: 155 NPDES - 1,229,255 1,229,255 - - Fund: 180 LAUNCH POINTE 15,542,570 5,107,000 5,069,180 - 15,580,390 Fund: 300 INSURANCE SERVICES 1,412,195 1,127,700 1,151,720 - 1,388,175 Fund: 305 INFORMATION SYSTEMS SERVICES 1,852,298 1,981,030 1,800,940 - 2,032,388 Fund: 310 SUPORT SERVICES 47,325 119,590 108,720 - 58,195 Fund: 315 FLEET SERVICES 1,902,234 2,011,570 1,828,700 - 2,085,104 Fund: 320 FACILITIES SERVICES 1,944,022 1,009,820 1,043,000 - 1,910,842 Fund: 330 CFD 2015-2S MAINTENANCE SERVICES FUND - 273,858 273,858 - - Fund: 341 CFD 2017-1S MISSION TRAIL SERVICES FUND - 9,480 9,480 - - Fund: 342 CFD 2007-5S RED KITE SERVICES FUND - 15,590 15,590 - - Fund: 343 CFD 2006-2S VISCAYA SERVICES FUND - 57,425 57,425 - - Fund: 344 CFD 2005-2S ALBERHILL RANCH SERVICES FUND - 194,122 194,122 - - Fund: 358 CFD 2007-4S MAKENNA SERVICES FUND - 28,975 28,975 - - Fund: 362 CFD 2006-8S RUNNING DEER ESTATES SERVICE FUND - 30,211 30,211 - - Fund: 367 CFD 2006-1S SUMMERLY SERVICE FUND - 569,235 569,235 - - Fund: 373 CFD 2005-5S WASSON CANYON SERVICES FUND - 64,380 64,380 - - Fund: 650 CFD 2003-1S LAW, FIRE & PARAMEDIC SERVICES FUND - 3,477,650 3,477,650 - - Fund: 651 CFD 2006-5S PARK, OPEN SPACE & STORM DRAIN SERVICES FUND - 117,250 117,250 - - Fund: 652 CFD 2007-1S LAW, FIRE & PARAMEDIC SERVICES FUND - 117,295 117,295 - - Fund: 653 CFD 2009-1S PARK, OPEN SPACE & STREET LIGHT SERVICES FUND - 766,596 766,596 - - Fund: 655 CFD 2015-1S LAW, FIRE & PARAMEDIC SERVICES FUND - 497,275 497,275 - - OPERATING BUDGET SUBTOTALS 58,781,671 116,361,122 126,774,140 - 48,368,653 FY2022‐23 ADOPTED AD/CFD/LERA/PFA BUDGETS Fund: 331 CFD 2006-1 IA CC SUMMERLY IMPROVEMENT FUND 302,802 187,685 490,487 - - Fund: 332 CFD 2006-1 IA B SUMMERLY IMPROVEMENT FUND 145,496 183,399 328,895 - - Fund: 333 CFD 2015-4 TERRACINA IMPROVEMENT FUND - 10,500 10,500 - - Fund: 334 CFD 2015-5 TRIESTE IMPROVEMENT FUND 105,124 166,474 271,598 - - Fund: 335 CFD 2003-2 IA E CANYON HILLS IMPROVEMENT FUND 238,963 180,987 419,950 - - Fund: 336 CFD 2006-1 IA FF SUMMERLY IMPROVEMENT FUND 163,297 221,826 385,123 - - Fund: 337 CFD 2016-2 CANYON HILLS IMPROVEMENT FUND 3,557,273 1,217,099 4,774,372 - - Fund: 338 CFD 2006-1 IA JJ SUMMERLY IMPROVEMENT FUND 584,356 332,570 916,926 - - Fund: 339 CFD 2006-1 IA KK SUMMERLY IMPROVEMENT FUND 535,465 273,053 808,518 - - Fund: 340 CFD 2006-1 IA EE SUMMERLY IMPROVEMENT FUND 532,318 293,914 826,232 - - Fund: 345 CFD 2003-2 IA D CANYON HILLS IMPROVEMENT FUND 2,142,272 1,942,877 4,085,149 - - Fund: 346 CFD 2014-1 SOUTHSHORE IMPROVEMENT FUND 6,223 450 6,673 - - Fund: 347 CFD 2006-1 IA A SUMMERLY IMPROVEMENT FUND 156,152 245,092 401,244 - - Fund: 350 CFD 98-1 SUMMERHILL IMPROVEMENT FUND 822,718 1,113,592 1,936,310 - - Fund: 351 CFD 2006-1 IA II SUMMERLY IMPROVEMENT FUND 713,996 429,317 1,143,313 - - Fund: 354 CFD 90-2 TUSCANY HILLS IMPROVEMENT FUND 1,070,814 1,300,470 2,371,284 - - Fund: 355 RAD 2021-1 CANYON HILLS IMPROVEMENT FUND 1,374,463 1,113,592 2,488,055 - - Fund: 357 CFD 2003-02 IA A CANYON HILL IMPROVEMENT FUND 1,589,194 975,781 2,564,975 - - Fund: 359 CFD 2021-1 IA 2 TUSCANY VALLEY IMPROVEMENT FUND - 10,500 10,500 - - Fund: 361 CFD 2022-2 LAKESHORE IMPROVEMENT FUND - - - - Fund: 366 CFD 2005-6 CITY CENTER TOWNHOMES IMPROVEMENT FUND 388,721 268,558 657,279 - - Fund: 368 CFD 2006-2 VISCAYA IMPROVEMENT FUND 803,085 522,554 1,325,639 - - Fund: 369 CFD 2004-3 IA 1 ROSETTA CANYON IMPROVEMENT FUND 2,874,577 1,718,452 4,593,029 - - Fund: 370 CFD 2006-1 IA HH SUMMERLY IMPROVEMENT FUND 608,311 32,785 641,096 - - Fund: 371 CFD 2005-1 SERENITY IMPROVEMENT FUND 1,120,351 685,191 1,805,542 - - Fund: 372 CFD 2005-2 IA A ALBERHILL RANCH IMPROVEMENT FUND 2,831,985 1,594,592 4,426,577 - - Fund: 374 CFD 2005-4 LAKE VIEW VILLAS IMPROVEMENT FUND - 10,500 10,500 - - Fund: 375 CFD 2006-4 CLURMAN FUND - 260,091 260,091 - - Fund: 376 CFD 2006-3 LA STRADA IMPROVEMENT FUND - 10,500 10,500 - - Fund: 377 CFD 2006-6 TESSARA IMPROVEMENT FUND 6,851 221,136 227,987 - - Fund: 378 CFD 2006-8 RUNNING DEER ESTATES IMPROVEMENT FUND 9,195 64,234 73,429 - - Fund: 379 CFD 2022-1 ALBERHILL IMPROVEMENT FUND - 200 200 - Fund: 384 CFD 2003-2 IA B CANYON HILLS IMPROVEMENT FUND 2,620,110 1,984,631 4,604,741 - - Fund: 385 CFD 2004-3 IA 2 ROSETTA CANYON IMPROVEMENT FUND 3,061,997 1,912,937 4,974,934 - - Fund: 386 CFD 2007-4 MAKENNA COURT IMPROVEMENT FUND 110,712 186,186 296,898 - - Fund: 387 CFD 2007-5 RED KITE IMPROVEMENT FUND 164,468 134,592 299,060 - - Fund: 388 CFD 2007-6 HOLIDAY INN EXPRESS IMPROVEMENT FUND 15 6,598 6,613 - - Fund: 389 CFD 88-3 WEST LAKE VILLAGES IMPROVEMENT FUND 2,320 - 2,320 - - Fund: 390 CFD 2003-2 IA C CANYON HILLS IMPROVEMENT FUND 1,433,301 841,307 2,274,608 - - Fund: 392 CFD 95-1 CIVIC CENTER IMPROVEMENT FUND 157,004 165,782 322,786 - - Fund: 394 CFD 2005-5 WASSON CANYON IMPROVEMENT FUND 189,348 284,509 473,857 - - Fund: 395 CFD 2018-1 WASSON CANYON II IMPROVEMENT FUND 4,961 10,700 15,661 - - Fund: 396 CFD 2019-2 NICHOLS RANCH IMPROVEMENT FUND 284 10,700 10,984 - - Fund: 397 CFD 2019-1 WESTLAKE IMPROVEMENT FUND 609,087 370,733 979,820 - - Fund: 398 CFD 2021-1 IA 1 TUSCANY VALLEY IMPROVEMENT FUND - 10,850 10,850 - - Fund: 400 LE FINANCING AUTHORITY FUND 63,068 561,563 624,631 - - CITY WIDE ALL FUNDS SUMMARY DocuSign Envelope ID: 37A969A9-1C34-4D3C-B408-55D6094EDFAA BEGINNING FUND BALANCE REVENUES APPROPRIATIONS NET TRANSFERS IN/(OUT) PROJECTED ENDING FUND BALANCE CITY WIDE ALL FUNDS SUMMARY Fund: 402 LEFFA 2017 LOCAL OBLIGATION BONDS FUND 4,118,907 - 290,005 - 3,828,902 Fund: 403 LEFFA 2020A REVENUE REFUNDING BONDS 15,103,288 500,000 520,000 - 15,083,288 Fund: 404 LEFFA 2021 REVENUE REFUNDING BONDS 33,655,874 600,000 2,203,960 32,051,914 Fund: 405 LEFFA 2021B REVENUE REFUNDING BONDS - 605,000 605,000 - Fund: 406 LEFFA 2021A REVENUE REFUNDING BONDS 8,344 1,063,731 1,072,075 - Fund: 510 SARDA AREA I, II, III FUNDS 10,431,013 24,862,210 6,336,180 - 28,957,043 Fund: 603 PUBLIC PURPOSE TRUST - CARL GRAVES FUND 40 600 640 - - Fund: 604 ENDOWMENT TRUST - ADOLPH KORN FUND 30 600 630 - - Fund: 617 SARDA HOUSING FUND 51,996,170 7,077,550 1,050,000 - 58,023,720 Fund: 630 LAKE WATER MANAGEMENT ESCROW FUND 2,581,500 1,500,500 4,082,000 - - Fund: 631 DESTRATIFICATION EQUIPMENT REPLACEMENT FUND 536,400 186,000 722,400 - - Fund: 739 LEPFA 2014 SERIES B FUND 16,018,440 700,000 1,308,570 - 15,409,870 Fund: 740 LEPFA 2015 FUND 94,653,630 3,000,000 6,924,210 - 90,729,420 Fund: 741 LEPFA 2015 SERIES A FUND 2,754,250 100,000 156,390 - 2,697,860 Fund: AD/CFD/LERA/PFA SUBTOTALS 262,958,563 62,265,250 78,441,796 - 246,782,017 FY2022‐23 ADOPTED CAPITAL BUDGET Fund: 105 GENERAL PROJECTS (OPER & CIP)170,780 - 170,780 - - Fund: 109 SB1 ROAD MAINTENANCE AND REHAB 740,356 1,436,698 2,177,054 - - Fund: 111 TUMF CAPITAL PROJECT FUND - 6,500,000 6,500,000 - - Fund: 112 MEASURE 'A' FUND 1,564,590 2,016,000 3,380,824 - 199,766 Fund: 113 SB821 FUND - 463,766 463,766 - - Fund: 116 CITY HALL/P.W. DIF FUND 178,545 76,100 254,645 - - Fund: 117 COMMUNITY CENTER DIF FUND 114,974 50,500 165,474 - - Fund: 118 LAKE SIDE FACILITIES DIF FUND 205,269 76,100 281,369 - - Fund: 119 ANIMAL SHELTER FACILITY DIF FUND 167 25,200 25,367 - - Fund: 121 TOTAL ROAD IMPROVEMENT PRGM (TRIP)12,930 495,950 508,880 - - Fund: 140 GEOTHERMAL FUND 13,565 125 13,690 - - Fund: 150 CDBG FUND - 906,179 906,179 - - Fund: 160 PEG GRANT FUND 68,207 23,869 92,076 - - Fund: 202 LA STRADA RBBD FUND 23,586 135 23,721 - - Fund: 203 SUMMERLY TRAFFIC INFRASTRUCTURE FEE (ELSP)3,326,038 60,100 3,386,138 - - Fund: 205 TRAFFIC IMPACT FEE FUND 198,032 387,968 586,000 - - Fund: 211 STORM DRAIN CIP FUND 2,704,984 465,100 2,016,763 - 1,153,321 Fund: 221 QUIMBY FUND 253,429 126,100 379,529 - - Fund: 231 LIBRARY CIP DIF FUND 1,294,859 46,300 1,341,159 - - Fund: 232 FIRE PROTECTION DIF FUND 490,956 92,100 583,056 - - Fund: 500 CAPITAL IMPROVEMENT PLAN FUND 12,814,311 71,859,119 84,673,430 - - Fund: 540 SARDA DIAMOND STADIUM FUND 423,660 2,958,910 3,382,570 - - Fund: 605 PUBLIC IMPROVEMENTS IN-LIEU FUND 1,653,224 85,100 1,738,324 - - Fund: 606 AB2766 AIR POLLUTION REDUCTION FUND 191,949 82,100 274,049 - - CAPITAL BUDGET SUBTOTALS 26,444,411 88,233,519 113,324,843 - 1,353,087 TOTALS 348,184,645$ 266,859,891$ 318,540,779$ ‐$ 296,503,757$ DocuSign Envelope ID: 37A969A9-1C34-4D3C-B408-55D6094EDFAA