FISCAL YEAR BUDGET
The Economic Outlook: Focus on California
Presentation by Christopher Thornberg of Beacon Economics and Director of UC Riverside's Center for Forecasting and Development; Hosted by the League of California Cities
General Fund Financial Forecast
City Operating Budget
Adopted at the June 21, 2016 City Council Meeting (item #18)
Adoption of the budget, which will go into effect on July 1, 2016, authorizes the receipt of revenues and the expenditure of monies to accomplish the goals for the community, as adopted by the City Council. As a result of state law and other regulations, the City is required to separate the moneys it collects in taxes and fees in different "funds." The largest fund, which can be used for almost all city activities, is called the "General Fund." Total projected General Fund revenues for FY 2016-17 are $37.5M and total projected General Fund expenditures, including all operating expenses, capital expenses, and debt service, are $37.4M. For FY 2017-18 total projected General Fund revenues are $39.1M and total projected General Fund expenditures, are $38.2M. Resulting surpluses would be added to City reserves at the end of each fiscal year.
The City also has four Enterprise funds: Water, Sewer, Airport, and Transit. The Enterprise funds are each run like a private business, with no tax support; all costs are recovered from users through fees for service. Other funds include the Landscape and Lighting District Fund, the Traffic Development Impact Fund, and others. Total revenues for all City funds for FY 2016-17 are projected at $78.7M.
The budget includes funds for the continuation of existing services, as well as some major new initiatives.
Two-Year Operating & Maintenance Budgets (Previous)
FY 2013/14 - 2014/15 [pdf:2.3mb/231pp]
FY 2011/12 to 2012/13 [pdf:4.5mb/222pp]
FY 2009/10 to 2010/11 [pdf:6.78mb/200pp]
FY 2007/08 to 2008/09 [pdf:800kb/193pp]