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HomeMy WebLinkAboutAgenda Package - StudySession_Dec11_2025 PALM DESERT CITY COUNCIL STUDY SESSION MEETING AGENDA Thursday, December 11, 2025 1:30 p.m. Council Chamber, City Hall 73-510 Fred Waring Drive Palm Desert, California NOTICE IS HEREBY GIVEN that the purpose of the Study Session is to review the items listed on the agenda. No action will be taken. This is a joint meeting of the Palm Desert City Council, Successor Agency to the Palm Desert Redevelopment Agency, Palm Desert Housing Authority, and Palm Desert Board of Library Trustees. Pursuant to Assembly Bill 2449, this meeting may be conducted as a hybrid meeting allowing public access via teleconference or in person, and up to two Councilmembers may attend remotely. WATCH THE MEETING LIVE: Watch the City Council meeting live at the City’s website: https://palmdesert.zoom.us/ or on the City's YouTube Channel. OPTIONS FOR PARTICIPATING IN THIS MEETING: Send your comments by email to: CityClerk@palmdesert.gov. Emails received prior to 10:00 a.m. on the day of the City Council meeting will be made part of the record and distributed to the City Council. Emails will not be read aloud at the meeting. Pages 1.CALL TO ORDER - STUDY SESSION 2.STUDY SESSION TOPICS 2.a PROVIDE AN OVERVIEW OF THE RIVERSIDE COUNTY FIRE DEPARTMENT WORKSHOP 5 RECOMMENDATION: Receive an update from the Riverside County Fire Department’s workshop. 2.b REPORT ON FISCAL RESERVES, RESERVE POLICY AND BEST PRACTICES 25 RECOMMENDATION: Receive a report on fiscal reserves, reserve policy, and best practices. Provide direction to staff regarding any desired updates to the policy. 2.c PROVIDE INPUT ON PURSUING LANDSCAPE AND LIGHTING DISTRICTS ON CITYWIDE PRIVATELY MAINTAINED MEDIANS AND SELECT PARKWAYS. 75 RECOMMENDATION: Provide input on pursuing landscape and lighting districts on citywide privately maintained medians and select parkways. 2.d PROVIDE AN UPDATE ON THE CITY’S MARKETING PROGRAM 111 RECOMMENDATION: Receive a presentation and provide guidance on future market targeting, research topics, and destination positioning to shape the City’s tourism marketing strategy for FY 2025–26 and FY 2026–27. 3.ADJOURNMENT City Council Study Session December 11, 2025 2 4.PUBLIC NOTICES NOTE: Pursuant to Assembly Bill 2449, this meeting may be conducted by teleconference. Study Session is accessible in person or on the City’s website: www.palmdesert.gov under the Council Agenda link at the top of the page. Agenda Related Materials: Pursuant to Government Code §54957.5(b)(2) the designated office for inspection of records in connection with this meeting is the Office of the City Clerk, Palm Desert Civic Center, 73-510 Fred Waring Drive, Palm Desert. Staff reports for all agenda items considered in open session, and documents provided to a majority of the legislative bodies are available for public inspection at City Hall and on the City’s website at www.palmdesert.gov by clicking “Council Agenda” at the top of the page. Americans with Disabilities Act: It is the intention of the City of Palm Desert to comply with the Americans with Disabilities Act (ADA) in all respects. If, as an attendee or a participant at this meeting, or in meetings on a regular basis, you will need special assistance beyond what is normally provided, the City will attempt to accommodate you in every reasonable manner. Please contact the Office of the City Clerk, (760) 346-0611, at least 48 hours prior to the meeting to inform us of your needs and to determine if accommodation is feasible. AFFIDAVIT OF POSTING I, Michelle Nance, Acting Assistant City Clerk of the City of Palm Desert, do hereby certify, under penalty of perjury under the laws of the State of California, that the foregoing agenda for the Palm Desert City Council, Successor Agency for the Palm Desert Redevelopment Agency, and Housing Authority, was posted on the City Hall bulletin board and City website www.palmdesert.gov no less than 72 hours prior to the meeting. /S/ Michelle Nance Acting Assistant City Clerk City Council Study Session December 11, 2025 3 4 Page 1 of 1 CITY OF PALM DESERT STAFF REPORT MEETING DATE: December 11, 2025 PREPARED BY: Deputy Chief Robert Fish SUBJECT: STUDY SESSION: PROVIDE AN OVERVIEW OF THE RIVERSIDE COUNTY FIRE DEPARTMENT WORKSHOP RECOMMENDATION: Receive an update from the Riverside County Fire Department’s workshop. BACKGROUND/ANALYSIS: Throughout October and November 2025, the Riverside County Fire Department conducted a series of workshops for elected officials across Riverside County. One of these workshops was held in the Palm Desert Council Chambers on November 19, 2025. The workshop s were designed to provide elected officials and staff with an overview of how state, county, and local jurisdictions benefit from participating in the Riverside County Fire Department’s regional service model. Topics included the structure and roles of the cooperative fire system, the benefits of integrated emergency response, mutual aid coordination, staffing and training standards, and the operational efficiencies gained through unified service delivery. The workshops also highlighted how the regional framework enhances community safety, strengthens preparedness for major incidents, and supports consistent service levels across jurisdictions. FINANCIAL IMPACT: There is no financial impact associated with this presentation. ATTACHMENTS: 1. Riverside County Fire Department Workshop Presentation 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Page 1 of 15 CITY OF PALM DESERT STAFF REPORT MEETING DATE: December 11, 2025 PREPARED BY: Veronica Chavez, Director of Finance SUBJECT: STUDY SESSION: REPORT ON FISCAL RESERVES, RESERVE POLICY AND BEST PRACTICES RECOMMENDATION: Receive a report on fiscal reserves, reserve policy, and best practices. Provide direction to staff regarding any desired updates to the policy. EXECUTIVE SUMMARY This report reviews the amount of financial reserves the City maintains —our savings—and whether our current policy continues to meet the City’s needs. The goal is simple:  Keep the City financially safe.  Avoid over-saving when funds could help meet community needs.  Modernize the policy to match best practices. Today, the City requires $77.7 million in reserves for FY 2025–26. However, long-term projections indicate that these requirements will become increasingly difficult to meet once major projects—such as parks, stormwater upgrades, and facilities—progress. To keep us stable and flexible, staff recommends:  Combining Operating & Emergency Reserves into a single 25% reserve.  Using a simpler 4% replacement-value method for facility maintenance reserves.  Creating a stable Economic/Community Investment Reserve with ROI standards.  Planning to support a future 4% Affordable Housing facilities reserve.  Adding a Productivity Savings Reserve to reward efficiency. These refinements lower the FY 2025–26 reserve requirement from $77.7 million to $66.1 million, freeing more than $ 11.6 million that can be prioritized to meet current community needs. Financing tools, such as Lease Revenue Bonds, could further reduce pressure on cash balances and help complete large projects without depleting reserves for upcoming projects. BACKGROUND/ANALYSIS: At the June 26, 2025, City Council meeting, staff presented a balanced FY 2025 -26 Operating Budget and Five-Year CIP Plan. At that time, staff committed to providing a deeper review of the City’s 10-Year General Fund Cash Flow Analysis, projected demands on fiscal resources, and potential policy refinements aligned with Council priorities, community growth, and best practices. 25 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 2 of 15 Staff is currently working through the FY 2024 -25 Audit, which reflects approximately $116.7 million in Fund Balance after all required transactions and carryovers are considered. Within this amount, $3.1M is non-spendable. As of the last City Council meeting, only $1.3 million in additional appropriations have been reques ted this fiscal year from unobligated General Fund reserves, which have been transferred to the Aquatic Facility Fund to support necessary capital improvements. This leaves approximately $112.3 million available for reserves and/or to address any unanticipated costs for the remainder of FY 2025-26 and future years. Ten-Year Estimated Cash Flow Forecast as of November 2025 The cash flow forecasts depicted below will be included as an attachment to this report in a clearer format; they are included here for quick reference. Cash flows represent a snapshot in time and are updated as information becomes available. Schedule 1 – Cash Flow Projections – Reserve Policy “As Is” Why Reserves Matter Fiscal reserves are essential for maintaining financial stability and flexibility in response to unforeseen events. A good reserve policy provides for stability through uncertainty without unnecessarily tying up funds that could be used to provide services to the community. In Government Accounting, each fund functions as a separate accounting entity, with its own operational and financial characteristics. Reserve levels should be tailored to those specific needs. Reserve funds are not intended for operational costs, except in limited circumstances, such as an economic contraction that reduces tax revenues or an emergency event, like a natural TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 98,966,367 80,002,328 77,498,024 79,165,394 72,806,102 63,319,619 51,062,643 36,131,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS(6,000,000) Station 33/71 Rehab/Rebuild $23.6M RDA BONDS(2,400,000) North Sphere Community Park ($19M) (15,500,000) (3,500,000) North Sphere Regional Park ($30M) (3,000,000) (20,000,000) (7,000,000) North Sphere Stormwater - Channel Projects (1,000,000) (8,500,000) (5,000,000) Henderson Trailhead Improvements (2,000,000) Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ 26 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 3 of 15 disaster. Historically, annual expenditures have outpaced revenues for various reasons, and the ten-year forecast continues to reflect this pattern. By FY 2031-32, this trend is projected to be driven primarily by increased public safety costs. Staff is actively pursuing opportunities to identify and collect additional revenue sources. Staff is also managing current resources to ensure all revenues are fully recogn ized and that available funds are maximized in both practice and long-range forecasting. Best Practices The Government Finance Officers Association (GFOA) recommends that general-purpose governments maintain an unrestricted fund balance equal to at least two months, or 16.7%, percent, of General Fund operating revenues or expenditures. Fund Balance represents the resources accumulated in governmental funds and is defined as the difference between a fund’s assets and its liabilities. The Governmental Accounting Standards Board (GASB) defines five classifications of Fund Balance. These classifications distinguish whether portions of fund balance are available for appropriation (“spendable”) or restricted by external or internal constraints (“reserved”). The five Fund Balance classifications are: Table A – Fund Balance Classifications Classification Nature of restriction Example Non-Spendable Cannot be readily converted to cash Leave balances, Developer deposits Restricted Externally imposed restrictions Grant funds, escrowed monies Committed City Council imposed commitment Emergency, Facilities, Equipment, etc. Assigned City Manager assigned purpose/intent General Fund Operations Unassigned Residual balance, not otherwise restricted Balance available for Goals, Projects, etc. Originally adopted in 2008 and last updated in 2018, the City's Reserve Policy incorporates GFOA best practices while tailoring reserve categories to the City’s operational and financial structure. The policy establishes the following reserve categories:  General Fund Operating Reserve  Contingency/Emergency Reserve  Facilities Maintenance Reserve  Capital Improvement Projects Reserve  Liability Reserve  Employment Benefits Reserve  Other Fund Stability Reserve  Equipment Replacement Reserve  Economic Development/Land Acquisition Reserve 27 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 4 of 15 Since 2018, GFOA has expanded its best practice recommendations for reserve policies. Key concepts for cities to consider include:  Follow GFOA Guidelines: Maintain an unrestricted General Fund balance equal to at least two months of operating revenues or expenditures (approximately 16.7%). percent).  Multiyear Forecasting: Integrate reserve targets into long-range financial plans to help stabilize services during economic downturns.  Structured Use Policy: Clearly define the circumstances under which reserves may be used, such as revenue shortfalls or natural disasters.  Transparent Reporting: Regularly disclose reserve levels and any drawdowns to support accountability and public trust. The City’s current Reserve Policy incorporates three of these four recommendations. The only exception is the GFOA’s 16.7% minimum threshold, which is not used in the current policy. For reference, below are examples of reserve thresholds used by other California cities: Table B – Various California City Reserve Thresholds City Total Reserve Requirement Los Angeles 5% of General Fund Revenue San Francisco 16.7% of General Fund Expenditures Sacramento 10% of General Fund Revenue San Diego 16.7% of General Fund Revenue Fresno 25% of General Fund Expenditures Santa Rosa 20-25% of General Fund Revenue Long Beach 10% of General Fund Expenditures Modesto 22.5% of General Fund Expenditures La Quinta 33% of General Fund Expenditures Rancho Mirage 84% of Estimated Fund Balance The following table presents the FY 2025-26 reserve requirements established under the City’s current Reserve Policy: 28 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 5 of 15 Table C – Year 1 (FY 2025-26) Reserve Calculations per Current Policy CATEGORY REQUIREMENT DESIGNATION FY 2025- 26 AMOUNT GENERAL FUND OPERATING RESERVE Finance Director shall set aside (25%) of the projected annual General Fund expenditures. Assigned – City Manager is delegated to use for operations. 21,691,071 CONTINGENCY/ EMERGENCY RESERVE Finance Director shall reserve an amount equal to (20%) of the projected annual General Fund revenues. Committed - Requires Council Action to use for unexpected financial change or public emergency. 22,337,751 FACILITIES MAINTENANCE RESERVE Finance Director is directed to commit the amount identified in the Replacement Reserve Study. The policy designated goal for funding this reserve, will be between (60-100%) of the ‘Fully Funded’ amount in the Study. Committed - Requires Council Action to use to maintain existing City buildings and infrastructure. 6,961,265 CAPITAL IMPROVEMENT PROJECTS RESERVE Finance Director shall set aside (20%) of the total Capital Improvement Program projects for the next five years. Committed - Requires Council Action to use for CIP. *May also be "Restricted" depending on project. 6,045,267 LIABILITY RESERVE Finance Director shall commit at least the pooled retention requirement for both Liability and Workers’ Compensation, which is currently $4 million Committed - Requires Council Action to use for costs not covered by insurance including deductibles. 4,000,000 EMPLOYMENT BENEFITS RESERVE Finance Director shall also set aside fifty percent (50%) of a one percent (1%) difference in the Public Employees Retirement System (PERS) discount rate. Funds will also be transferred to the appropriate Internal Service Fund to cover all leave balances and OPEB annually as part of this requirement. Committed - Requires Council Action to use for impacts related to rate changes from PERS. 10,697,122 OTHER FUND STABILITY RESERVE Finance Director shall adjust the amount to be the projected annual transfers to other funds. This amount is immediately transferred on July 1 to ensure availability, so no additional reserve is necessary. Committed - Requires Council Action to use for transfers to other funds. - EQUIPMENT REPLACEMENT RESERVE Finance Director shall adjust this reserve to be at least 100% of the total historical cost of equipment assets as noted in the ACFR. Committed - Requires Council Action to use for equipment not in the Replacement Reserve. 2,869,354 29 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 6 of 15 ECONOMIC DEVELOPMENT RESERVE Finance Director shall commit the City’s share of proceeds from SARDA land sales to this reserve. Committed - Requires Council Action to use for partnerships, incentives, etc to achieve economic goals. - TOTAL FY 2025-26 RESERVE REQUIREMENT (INCLUDING $3.1M NON-SPENDABLE FUNDS) 77,719,235 With an estimated Fund Balance of $117.8 million as of June 30, 2026, and after accounting for the required reserves, the resulting unrestricted amount for FY 2025-26 is approximately $40,131,253, inclusive of restricted funds. Impacts of Anticipated Capital Improvements to Cash Flow The City anticipates a significant volume of major capital improvements over the decade, including the new library, a community park, a regional park, stormwater system upgrades, median landscape improvements, and affordable housing initiatives. These needs are in addition to ongoing major maintenance and replacement costs for existing City facilities. The strategic use of reserves will be necessary to support these community priorities. Beyond regular increases in operational costs, the City is currently in a construction and development phase that requires substantial upfront cash. Based on current project schedules, reserve usage is projected to reduce the Fund Balance to approximately $17.8 million by FY 2034-35, even after incorporating the additionally forecasted revenues from Measure G. This projected balance does not meet the thresholds established in the City’s current Reserve Policy The table below reflects the resulting distribution of Fund Balance based on anticipated operations and capital improvements, indicating that the reserve may become underfunded as early as FY 2031-32. Schedule 1 – Cash Flow Projections – Reserve Policy “As Is” For FY 2034-35, the required reserve is approximately $87.5 million. The projected Fund Balance falls short of this requirement by roughly $69 million, or 79%. FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Annual Percentage Funded 152%125%95%101%100%86%76%53%40%21% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (25% of Ops)21,691,071 22,341,803 23,012,057 23,702,419 24,413,492 25,145,897 25,900,273 26,677,282 27,477,600 28,301,928 COMMITTED GF Emergency Reserve (20% of GF Revenue)22,337,751 23,305,935 24,180,474 24,692,098 25,191,190 25,737,242 26,266,502 26,921,255 27,652,126 28,403,302 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for chg in Disc Rate)10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 Other Fund Stability Reserve (equal to 25% T-fer Out) Facility Reserve (at 70% sensitivity)6,961,265 5,459,114 9,005,713 6,485,361 8,037,456 8,331,572 7,032,306 14,169,390 7,050,049 8,252,353 CIP Reserve (20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% cost of assets)2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Total Required Reserve 77,719,235 79,303,399 84,064,816 76,546,894 79,513,428 84,461,920 83,321,206 96,968,106 91,000,908 87,527,825 Reserve Requirement Overfunded/(Underfunded)40,131,253 19,662,968 (4,062,488) 951,130 (348,034) (11,655,818) (20,001,587) (45,905,464) (54,869,536) (69,199,250) This amount is included in Expenditures and Immediately Transferred 30 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 7 of 15 Staff has evaluated multiple financial models and reviewed historical cost trends to identify an appropriate reserve level and determine how excess funds can be strategically allocated to benefit the community. The options outlined below aim to balance necessary reserve requirements with targeted investments that support long-term growth, while maintaining sufficient protection against unforeseen events such as economic downturns or housing affordability pressures. Policy Options to Consider Increasing Flexibility and Align with Best Practices Options for consideration that may reduce self-imposed restrictions and better align the City’s Reserve Policy with industry best practices include the following: 1. Combine Operating and Contingency/Emergency Reserves (Total: 25%) The Operating Reserve is intended to ensure continuity of service, while the Contingency/Emergency Reserve functions as the City’s rainy-day fund. Many cities establish a combined minimum reserve target of 15 to 25% of General Fund operating expenditures. Some use a range (e.g., 20–25%) percent) based on risk factors such as revenue volatility, reliance on tourism, or exposure to natural disasters. Combining the City’s two categories into a single 25% target is a common approach and would create greater flexibility to address competing needs. a. A few cities apply a combined reserve measurement that ensures the GFOA minimum of 16.7% (two months of operations) for the Operating Reserve, with the remainder—up to 25%—assigned to Contingency/Emergency needs. This combined structure allows more flexibility when emergency needs exceed the original allocations. b. In recent years, City revenue losses during major economic disruptions, including the Housing Crisis and COVID-19 pandemic, were less than the 25% threshold. The costs associated with Storm Hillary totaled approximately 2% of the total Fund Balance, remaining well within the existing reserve capacity. c. Combining the reserves into a single 25% requirement would unencumber approximately $21 million for immediate or future use on an annual basis. d. Withdrawals from the combined Operations/Emergency Reserve would be permitted only under two conditions: i. An economic contraction, defined as two consecutive quarters of declining “real Gross Domestic Product/GDP” (GDP adjusted for inflation); or ii. A severe emergency, such as a natural disaster accompanied by significant, unanticipated revenue loss or expenditure needs. Withdrawals would need to commence within 12 months of the triggering event and could continue until tax revenues exceed pre -contraction levels. 2. Simplify Facilities Reserve: Use 4% of Replacement Value Reserving for facility maintenance ensures that City buildings remain in good condition to meet community needs. Determining an appropriate reserve level is inherently subjective. The City currently relies on a 2018 Replacement Reserve Study (RRS) prepared by a third party. 31 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 8 of 15 The existing RRS has limitations. Because it was produced by an external consultant without detailed knowledge of Palm Desert-specific conditions, such as climate impacts, visitor volumes, and staff experience, it no longer provides a reliable benchmark. The study is now outdated and updating it would require a significant financial investment. This method also fails to incorporate other relevant factors and can result in reserve levels that are unrealistic and unnecessarily restrict available resources. a. As an alternative, the City of Fort Collins, Colorado, uses a simple, cost-effective method for determining facility reserve levels. Their policy allocates funds to adequately maintain General Fund buildings without requiring comprehensive reserve studies. b. Under this approach, the target reserve is set at 4% of the Current Replacement Value (CRV) of General Fund buildings. Funds in the Facility Maintenance Reserve are available for expenditures as needed during the annual budget cycle. Any unspent amounts from budgeted maintenance appropriat ions are retained in the fund for future use. A 4% annual provision effectively supports a 25-year life cycle for major facilities components and provides a predictable, stable funding source for long-term replacement costs. 3. Strengthening the Economic/Community Investment Reserve (with ROI requirement) While the City currently has Economic Development as a reserve category, the allocation is finite and inconsistent. Currently, the only ongoing revenue source designated for this purpose is the sale proceeds from former Redevelopment Agency (RDA) properties. With only three remaining property areas (Alessandro, Desert Willow, and the 170-acre site), total estimated revenue for economic development purposes is approximately $700,000, which limits the City’s ability to pursue large-scale or catalytic economic projects. Local governments increasingly face pressure to fund infrastructure and economic development needs without relying on emergency debt issuance or unplanned reserve drawdowns. Research from the Lincoln Institute of Land Policy shows that jurisdictions that proactively set aside dedicated funds for development are better positioned to capture high-impact investment opportunities and reduce long-term financial exposure. Proactive reserves also support best practices by enabling cities to: o Invest in job-creating or tax-base-expanding projects o Avoid reactive or politicized use of special financing tools o Provide matching funds for state/federal grants and public-private partnerships o Accelerate redevelopment in priority areas following RDA dissolution o Engage residents in identifying needs to ensure equitable and transparent investment Failing to invest in the community increases the risk of stagnation, reduced competitiveness, and limited revenue growth over time. To address this, staff proposes establishing a dedicated Economic/Community Investment Reserve supported by a structured, measurable allocation of limited fund balance. All investments would be governed by a standardized Return On Investment (ROI) requirement to maintain fiscal responsibility and ensure that community benefits are measurable. 32 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 9 of 15 As an example, the City could require that any use of funds meet or exceed the benchmark currently used for City investments, the Five-Year Treasury Bill rate. Based on the current rate of 3.49%, any project utilizing reserve funds would need to demonstrate a minimum expected ROI within five years that exceeds this threshold. Under this model, a hypothetical $5 million investment request would need to show projected returns comparable to the following: Table D – Economic Development Investment Expected ROI Measurement 4. Plan for an Affordable Housing Reserve The City’s affordable housing portfolio was originally funded and developed through the former RDA. With the dissolution of RDAs in 2012, cities statewide have struggled to maintain aging housing assets and address growing community needs without a dedicated revenue source. In response, some cities have begun incorporating Affordable Housing reserves in their financial policies to help bridge funding gaps until long-term solutions are identified. a. The long-term capital replacement needs of the Palm Desert Housing Authority ’s aging complexes are expected to consume all remaining housing cash balances within the next few years. b. Staff continues to work to identify opportunities to increase revenues, manage operational costs, and pursue grants to support ongoing maintenance and rehabilitation needs. However, an Affordable Housing Reserve, if established, would serve only as one component of a broader funding strategy necessary to maintain housing assets at acceptable standards. c. A similar measurement to the Facilities Maintenance and Repairs approach (4% of CRV) could be used to determine the annual reserve target, reduced for any positive Net Operating Income (NOI) from the prior year. Based on the most recent insurance property schedule, 4% of CRV equates to $10,062,041. With typical annual NOI just under $1.5 million, the net reserve requirement would be approximately $8.5 million per year. 5. Create a Productivity Savings/Innovation Reserve Project:Hotel w/Restaurant & Gift Shop Amount:$5 million ROI Terms 5 yrs @ 3.49% Year Hotel Sales Taxable Sales TOT Sales Tax Property Tax Total to City 2026-27 8,431,500 1,825,000 927,465 36,500 30,000 993,965 2027-28 8,684,445 1,879,750 955,289 37,595 30,900 1,023,784 2028-29 8,944,978 1,936,143 983,948 38,723 31,827 1,054,497 2029-30 9,213,328 1,994,227 1,013,466 39,885 32,782 1,086,132 2030-31 9,489,728 2,054,054 1,043,870 41,081 33,765 1,118,716 Total 44,763,979 9,689,173 4,924,038 193,783 159,274 5,277,095 Assumes: 110 rooms, 70% occupancy, $300/nt, $5,000/day in sales, 3% inc annually ROI 106% 33 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 10 of 15 This reserve concept is a modern, incentive-based approach to support innovation and operational efficiency across City departments. The reserve encourages continuous improvement by allowing General Fund managers to retain and reinvest productivity - related savings in long-term service enhancements. Eligible productivity savings would be separately tracked by the department or division that generated them. Requests for use of accumulated savings could be submitted to the City Manager at any point during the fiscal year. Any savings not utilized or requested would roll back into the General Fund balance at year-end. Revised Reserve Requirements (if adopted) Cities nationwide have evaluated various methods for establishing reserve levels and have found that GFOA’s recommended best practices generally meet the essential standards for maintaining effective “rainy day” funds. Balancing investments in the community with ensuring sufficient reserves is a nuanced effort. The table below outlines key considerations and measurable outcomes associated with both investing and saving strategies . Table E – Reserve vs. Investment Comparison and Measurement Outcomes METRIC FISCAL RESERVES COMMUNITY INVESTMENT GFOA RECOMMENDED MINIMUM 16.7% of operating expenditures Not standardized MEDIAN RESERVE LEVEL (SIMILAR SIZED CITIES) 25%–30% of expenditures Varies by strategic goals ROI ON TARGETED INCENTIVES** $3–$7 per $1 invested (depending on project type) High variance RISK OF OVER-INVESTMENT Low financial flexibility Budget shortfalls in downturns RISK OF UNDER-INVESTMENT Infrastructure deficits, missed growth Economic stagnation If directed to update the policy and the proposed changes are approved, the Reserve Requirement for FY 2025-26 would be adjusted as follows: Table F – Revised Year 1 (FY 2025-26) Reserve Calculations per staff recommendations Category FY 2025-26 Revised Amount General Fund Operating/Emergency Reserve 27,922,189 Contingency/Emergency Reserve 0 Facilities Maintenance Reserve 6,441,035 Capital Improvement Projects Reserve 6,045,267 Liability Reserve 4,000,000 Employment Benefits Reserve 10,697,122 34 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 11 of 15 Other Fund Stability Reserve N/A Equipment Replacement Reserve 2,869,354 Economic Development Reserve 5,000,000 Total FY 2025-26 Revised Reserve Requirement (Including Non-Spendable Funds) 66,092,372 These changes are expected to provide an estimated increase of more than $11.6 million in available flexibility for FY 2025-26. The next table applies to the same adjustments across the ten-year forecast and reflects additional flexibility added to maintain desired reserve levels while investing in the community. It does not, however, fully resolve reserve deficiencies in year 7-10. Schedule 2 – Cash Flow Projections – Reserve Policy “Staff Recommendations” This approach does not eliminate the long-term need to identify additional revenue sources, but it does help alleviate some of the immediate reserve pressures projected over the next several years until those revenues are fully realized. Schedule 2 – Cash Flow Projections – Reserve Policy “Staff Recommendations” TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 98,966,367 80,002,328 77,498,024 79,165,394 72,806,102 63,319,619 51,062,643 36,131,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS (6,000,000) - - - - - - - - - Station 33/71 Rehab/Rebuild $23.6M RDA BONDS (2,400,000) - - - - - - - - - North Sphere Community Park ($19M) - (15,500,000) (3,500,000) - - - - - - - North Sphere Regional Park ($30M) - (3,000,000) (20,000,000) (7,000,000) - - - - - - North Sphere Stormwater - Channel Projects (1,000,000) (8,500,000) (5,000,000) - - - - - - - Henderson Trailhead Improvements - (2,000,000) - - - - - - - - Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ 35 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 12 of 15 Long-Term Outlook with Policy Updates and Financing Options Staff continues to evaluate additional revenue strategies to address funding gaps and meet long- term community needs. A combination of approaches will likely be necessary to achieve major goals that cannot be supported solely by the current revenue stream . Financing tools such as Lease Revenue Bonds, Community Facility Districts (CFDs), Economic Infrastructure Financing Districts (EIFDs), and other mechanisms may need to be considered to support large capital projects until the resulting investment benefits are reflected in future City revenues. Staff will present these options to the City Council at the Council’s direction and in alignment with established goals. A Lease Revenue Bond would allow the City to borrow against existing facilities to fund significant capital improvements, such as parks and stormwater infrastructure upgrades. This type of financing spreads project costs over 20 to 30 years, protects General Fund reserves, and reduces the need to draw down large amounts of cash up front. The forecast below illustrates how this financing approach can relieve future cash-flow pressures and further support the City’s ability to remain within Reserve Policy requirements over time, while meeting community needs. Schedule 3 – Cash Flow Projections – Reserve Policy “Staff Rec and Bond Financing” FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Annual Percentage Funded 178%143%113%121%118%102%89%66%47%25% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (Innovation) (15% of Rev)16,753,313 17,479,451 18,135,355 18,519,073 18,893,392 19,302,932 19,699,877 20,190,941 20,739,094 21,302,476 COMMITTED GF Emergency Reserve (10% of Rev)11,168,875 11,652,967 12,090,237 12,346,049 12,595,595 12,868,621 13,133,251 13,460,627 13,826,063 14,201,651 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for PERS chg 10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 Other Fund Stability Reserve (equal to 25% T-fer Out) Facility Reserve 6,441,035 7,001,035 7,841,035 6,485,361 8,759,446 8,847,040 8,935,511 9,024,866 9,115,114 9,206,266 CIP Reserve (20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% of hist 2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Econ Development/Community 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 Total Required Reserve 66,092,372 69,330,001 70,933,199 64,017,499 67,119,724 71,265,802 70,890,761 76,876,612 77,501,401 72,280,630 Reserve Requirement Overfunded/(Underfunded)51,758,116 29,636,366 9,069,129 13,480,525 12,045,670 1,540,300 (7,571,142) (25,813,970) (41,370,030) (53,952,056) This amount is included in Expenditures and Immediately Transferred 36 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 13 of 15 Schedule 3 – Cash Flow Projections – Reserve Policy “Staff Recs and Bond Financing” CONCLUSION TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 124,466,367 130,502,328 131,498,024 129,665,394 119,806,102 106,819,619 91,062,643 72,631,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS (6,000,000) Station 33/71 Rehab/Rebuild $23.6M RDA BONDS (2,400,000) North Sphere Community Park ($19M) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) North Sphere Regional Park ($30M) North Sphere Stormwater - Channel Projects (1,000,000) Henderson Trailhead Improvements Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 124,466,367$ 130,502,328$ 131,498,024$ 129,665,394$ 119,806,102$ 106,819,619$ 91,062,643$ 72,631,372$ 51,328,575$ FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 124,466,367$ 130,502,328$ 131,498,024$ 129,665,394$ 119,806,102$ 106,819,619$ 91,062,643$ 72,631,372$ 51,328,575$ Annual Percentage Funded 178%180%184%205%193%168%151%118%94%71% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (Innovation) (15% of Rev)16,753,313 17,479,451 18,135,355 18,519,073 18,893,392 19,302,932 19,699,877 20,190,941 20,739,094 21,302,476 COMMITTED GF Emergency Reserve (10% of Rev)11,168,875 11,652,967 12,090,237 12,346,049 12,595,595 12,868,621 13,133,251 13,460,627 13,826,063 14,201,651 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for PERS chg in Disc Rate)10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 Other Fund Stability Reserve (equal to 25% T-fer Out) Facility Reserve 6,441,035 7,001,035 7,841,035 6,485,361 8,759,446 8,847,040 8,935,511 9,024,866 9,115,114 9,206,266 CIP Reserve (20% of CIP)6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% of hist cost of assets)2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Econ Development/Community Investment w/ROI 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 Total Required Reserve 66,092,372 69,330,001 70,933,199 64,017,499 67,119,724 71,265,802 70,890,761 76,876,612 77,501,401 72,280,630 Reserve Requirement Overfunded/(Underfunded)51,758,116 55,136,366 59,569,129 67,480,525 62,545,670 48,540,300 35,928,858 14,186,030 (4,870,030) (20,952,056) This amount is included in Expenditures and Immediately Transferred 37 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 14 of 15 Palm Desert remains financially strong; however, the current Reserve Policy is more restrictive than necessary, limiting the City’s ability to address both immediate and long-term needs in an efficient manner. Modernizing the policy would allow the City to:  Maintain strong financial stability  Align with GFOA best practices  Free resources for parks, infrastructure, housing, and community investment  Support sustainable long-term planning Staff recommends that the City Council provide direction on whether to proceed with formal policy updates to the Reserve Policy. Legal Review: This report has been reviewed by the City Attorney’s Office. FINANCIAL IMPACT: There is no immediate impact on the General Fund. Any future changes to the Reserve Policy may adjust fund balance allocations. If directed, staff will return with proposed policy revisions and associated fiscal impacts. The table below provides an at-a-glance comparison of each recommendation and scenario presented. 38 City of Palm Desert Fiscal Reserves and Reserve Policy Report Page 15 of 15 Table G – Year 1 and Year 10 Quick Comparison of Metrics Year 1 - FY 2025-26 Current Policy Revised Policy Adding Financing Est. GF Fund Balance $117,850,488 $117,850,488 $117,850,488 Required Reserve $77,719,235 $66,092,372 $66,092,372 Percent Funded 152% 178% 178% Uncommitted (Available) Fund Balance $40,131,253 $51,758,116 $51,758,253 Table G – Year 1 and Year 10 Quick Comparison of Metrics Continued Year 10 - FY 2034-35 Current Policy Revised Policy Adding Financing Est. GF Fund Balance $18,328,575 $18,328,575 $51,328,575 Required Reserve $87,527,825 $72,2802630 $72,280,630 Percent Funded 21% 25% 71% Uncommitted (Available) Fund Balance ($69,199,250) ($53.952,056) ($20,952,056) Over the 10-year period, forecasts show positive fund balance throughout; however, they do require the use of reserves to ensure all anticipated projects are completed. The policy change recommendations proposed by staff introduce a modest adjustment resulting in a 4% increase in funded reserves (21% to 25%) over the 10-year period, while preserving flexibility to invest in the community and maintaining adequate reserves consistent with GFOA best practices. The inclusion of a financing component for major capital projects offers a more strategic approach to supporting sustainable long-term planning. Staff will continue to monitor reserve levels and provide regular updates to the City Council as part of the ongoing discussion regarding financial sustainability. ATTACHMENTS: 1. FIN-003 Approved Reserve Policy 2a. Ten-Year Cash Flow Forecast – As Is 2b. Ten-Year Cash Flow Forecast – Revised per Staff’s Recommendation 2c. Ten-Year Cash Flow Forecast – Revised to Include Financing Tool for Capital Improvements 3. Reserve Analysis and Policy Study Presentation 39 40 EXHIBIT “1” Subject Reserve Policy Policy No. FIN - 003 Date Issued: September 27, 2018 Approved by Resolution No. 2018- ____ authorizing a Reserve Policy Authored by Finance Department I. PURPOSE To outline the policy and procedures for establishing reserves for long-term city infrastructure needs, economic uncertainties, economic development, emergency reserve, equipment replacement, pension and other post-employment obligations. This Reserve Policy (“Policy”) will also set guidelines and priorities for the distribution of excess revenue at the end of each fiscal year to assist in funding and replenishing the identified reserve categories as well as ensuring that funds for current operating needs are available. This Policy will help the City ensure stable service delivery. II. SCOPE The City utilizes a variety of government funds for reporting and budgeting revenues and expenditures of the City that are separated broadly by three fund types: governmental funds, proprietary funds and fiduciary funds. This Policy will pertain only to governmental funds and proprietary funds since fiduciary funds are held in trust for others. Governmental funds include the General Fund, Special Revenue funds, Debt Service funds and Capital Project funds. Proprietary funds include Enterprise funds and Internal Service funds. To effectively utilize and maintain adequate reserves for both known and unknown contingencies, this Policy establishes reserve categories based on the hierarchy of the City’s needs and risks: 1. General Fund Operating Reserve 2. Contingency/Emergency Reserve 3. Facilities Maintenance Reserve 4. Capital Improvement Projects Reserve 5. Liability Reserve 6. Employment Benefits Reserve 7. Other Fund Stability Reserve 8. Equipment Replacement Reserve 9. Economic Development/Land Acquisition Reserve 41 Administrative Procedures Manual EXHIBIT “1” FIN-003 Reserve Policy Page 2 of 7 III. RESERVE CATEGORY DEFINITIONS (in alphabetical order) a. Capital Improvement Projects Reserve – A reserve for major capital projects or improvements to the City’s infrastructure including recreational facilities, undergrounding, roadways, storm drains, parks and gardens, buildings, and rights of way. b. Contingency/Emergency Reserve – A reserve to sustain General Fund operations, service delivery and budgetary stabilization in the event of an unexpected change in financial condition1 or public emergency. This reserve is not intended to serve as an alternative funding source for new programs. c. Economic Development/Land Acquisition Reserve -- A reserve to facilitate economic development partnerships, incentives and property acquisitions to further the City’s economic development goals. d. Employment Benefits Reserve – A reserve for accumulated compensated leave balances, pension discount rate changes, pension obligations and other post- employment benefits (OPEB) including unfunded pension liabilities. e. Equipment Replacement Reserve -- A reserve for the replacement of equipment not identified within the Facilities Maintenance Reserve including vehicles, office furniture, information systems, printers, scanners, communication systems, etc. f. Facilities Maintenance Reserve – A reserve to maintain existing City buildings and infrastructure including recreational facilities, parks and gardens, and hiking trails. g. General Fund Operating Reserve – A reserve used to finance the daily operations of the City such as public safety, streets maintenance, recreational parks, and special events. h. Liability Reserve – A reserve for costs not covered by the City’s insurance programs including claim costs within the deductible amounts, certain types of settlements and judgments, or any claims awarded in excess of $50 million. This reserve may also be used for deductibles, to pay any amount that may be considered a liability to the City consistent with this category, or to pay any contribution or premium to the pool on behalf of the City. i. Other Fund Stability Reserve – A reserve for transfers to funds from the General Fund to cover expenses. IV. ACCOUNTING GUIDANCE The Government Finance Officers Association (GFOA) suggests that as a best practice, cities should consider their own unique circumstances in order to determine adequate reserves. This includes assessing the needs of the City as well as the uncertainties that could impact the City’s revenues and fund balance. 1 An unexpected change in financial condition could include things such as the economic crisis in 2008, a loss or delay of a major revenue source, a natural disaster, liabilities not covered by insurance, or change in the pension discount rate for the City’s unfunded pension liability. 42 Administrative Procedures Manual EXHIBIT “1” FIN-003 Reserve Policy Page 3 of 7 Government Accounting Standards Board Statement No. 54 defines five specific classifications of fund balance. The five classifications are intended to identify whether the specific components of fund balance are available for appropriation (or available to reserve) and are therefore considered “spendable.” The classifications are also intended to identify the extent to which fund balance is constrained by special restrictions. The five classifications 2 of fund balance for governmental funds are as follows: CLASSIFICATIONS NATURE OF RESTRICTION Nonspendable Cannot be readily converted to cash Restricted Externally imposed restrictions Committed City Council imposed commitment Assigned City Manager assigned purpose/intent Unassigned Residual balance not otherwise restricted This Policy is focused only on the reserve designations that will be Committed, Assigned or identified in Unassigned. Nonspendable and Restricted classifications will be excluded because they are subject to requirements outside the City’s control. The City will, however, consider restricted fund balance as spent first when both restricted and unrestricted fund balances are available. V. RESERVE FUNDING POLICIES The primary goal of the Policy is to identify and reserve, adequate resources for operational liquidity, future needs and any uncertainties that might affect the City’s fund balance. The Policy includes broad reserve categories that are meant to be as inclusive as possible, yet flexible enough to address needs or risks as they arise. Each reserve 2 Nonspendable Fund Balance (inherently nonspendable) – Assets that cannot be converted to cash (i.e., prepaid items and inventories of supplies) and assets that will not be converted to cash soon enough to affect the current period. Examples of nonspendable fund balance are reserves for long term receivables and advances, prepaid assets, City’s financial assets which are not due to be received for an extended period, so are not available for appropriation during the budget year. Restricted Fund Balance (externally enforceable limitations on use) – Limitations imposed by creditors, grantors, contributors, or laws and regulations of other governments and limitations imposed by law through constitutional provisions or enabling legislation. Examples of restricted fund balance are reserves for debt service, developer impact fee, capital bonds and grants. Committed Fund Balance (self-imposed limitations on use set in place prior to the end of the fiscal year) – Limitation imposed at the highest level of decision making that requires formal action at the same level to remove (City Council). Examples of committed fund balance are the aquatic center, energy loan programs and the housing authority capital asset replacement. Assigned Fund Balance (limitation resulting from intended use) – Intended use is established by highest level of decision- making, then may be implemented by an official designated for that purpose (delegated by the City Council to the City Manager). Examples of assigned fund balance are the library fund, building maintenance fund, capital project reserve fund, and economic development fund. Unassigned Fund Balance (residual net resources) – Excess of nonspendable, restricted, committed, and assigned total fund balance. Unassigned Fund Balance reserves are residual positive net resources in excess of what can properly be classified in one of the other four components. Unassigned General Fund Balance (unobligated general fund reserves) and can be used for any lawful purpose. 43 Administrative Procedures Manual EXHIBIT “1” FIN-003 Reserve Policy Page 4 of 7 category may include multiple funds some of which may have a restricted fund balance component. At the discretion of the City Manager, monies held in reserve may be used in any year when the General Fund is not balanced in order to offset operating costs consistent with these reserve categories. The identified reserve funding policies are as follows: 1. General Fund Operating Reserve – On June 30, the Finance Director shall set aside twenty five percent (25%) of the projected annual General Fund expenditures. This reserve will be adjusted at the end of each fiscal year to the recommended level based on the next year’s projected expenditures. This reserve will be classified in fund balance as ASSIGNED. 2. Contingency/Emergency Reserve – At the beginning of each fiscal year, the Finance Director shall reserve an amount equal to twenty percent (20%)3 of the projected annual General Fund revenues. This reserve will be adjusted at the beginning of each fiscal year to the recommended level based on that year’s projected revenues. This reserve will be classified in fund balance as COMMITTED. 3. Facilities Maintenance Reserve – Upon the approval of this Policy, the Finance Director is directed to commit the amount identified in the Capital Replacement Reserve Study, as the initial deposit, less amounts available from other funding sources to this reserve. The Policy-designated goal for funding this reserve, will be between sixty and one hundred percent (60-100%) of the ‘Fully Funded’ amount in the Capital Replacement Reserve Study. The annual recommended funding amount identified in the Capital Replacement Reserve Study will be considered as part of the annual budget. This reserve will be classified in fund balance as COMMITTED. 4. Capital Improvement Projects Reserve – At the financial closing of each fiscal year, the Finance Director shall set aside twenty percent (20%) of the total Capital Improvement Program projects for the next five years. The Finance Director will adjust this amount annually to the Policy-designated level plus any additional amounts so directed by the City Council under Section VI of this Policy. This reserve will be classified in fund balance as both RESTRICTED and COMMITTED depending on the project funding. Unless otherwise specified, at such time as a project or any portion thereof has been awarded the amount will be allocated (committed) to the project and will not be available for other projects. 5. Liability Reserve -- The Finance Director shall commit at least the pooled retention 3 After the financial crisis in 2008 the fluctuation in the City’s revenue was approximately twenty percent (20%) of the 2007-08 budget or $11 million dollars. While the City also reduced its budget at that time to offset the reduction in revenues to the extent possible, the core services were still rising. It took approximately eight years to reestablish the revenue base to pre-2008 levels. Based on these actual events staff believes that 20% of the annual operating revenue would be prudent as a reserve, with a consideration to review from time to time as information becomes available to the City that might suggest the amount to be increased. 44 Administrative Procedures Manual EXHIBIT “1” FIN-003 Reserve Policy Page 5 of 7 requirement for both Liability and Workers’ Compensation, which is currently $4 million ($2 million each). This reserve will be classified in fund balance as COMMITTED. 6. Employment Benefits Reserve – Internal Service Funds have been established for the purpose of reserving monies for compensated balances and Other Post- Employment Benefits (OPEB). On June 30 of each year, the Finance Director shall set aside one hundred percent (100%) of the compensable accrued unused vacation, sick leave, and compensatory time and the current year’s OPEB requirements to the appropriate internal service funds. This amount will be COMMITTED. The Finance Director shall also set aside fifty percent (50%) of a one percent (1%) difference in the Public Employees Retirement System (PERS) discount rate. This amount will be COMMITTED in the General Fund. 7. Other Fund Stability Reserve - Upon the approval of this Policy, the Finance Director shall be directed to commit $3.3 million to this reserve. At the end of each fiscal year, the Finance Director shall adjust the amount to be the projected annual transfers to other funds. This reserve will be classified in fund balance as COMMITTED. 8. Equipment Replacement Reserve – An Internal Service Fund has been established for the purpose of equipment replacement. At the financial closing of each fiscal year, the Finance Director shall adjust this reserve to be at least 100% of the total historical cost of equipment assets as noted in the CAFR and may include amounts set aside in excess of 100% for any approved one-time expenditures. This reserve will be classified in fund balance as COMMITTED. 9. Economic Development/Land Acquisition Reserve -- Upon approval of this Policy, the Director of Finance shall deposit an additional $4,000,000 as a reserve for land/property acquisitions. In addition, within a reasonable amount of time from when the City receives its share of the proceeds of the former redevelopment agency’s land sales, from the County of Riverside, the Finance Director shall commit the City’s share to this reserve. This reserve will be classified in fund balance as COMMITTED. VI. CITY COUNCIL DESIGNATION OF RESERVES The City Council will take action to COMMIT fund balance and unless otherwise specified in this Policy, hereby designates the City Manager or his/her designee to ASSIGN fund balance when appropriate. The City Council may designate portions of General Fund unassigned or unobligated fund balance for any other municipal purpose that the City Council deems prudent or necessary. VII. ANNUAL DISTRIBUTION OF EXCESS REVENUE 45 Administrative Procedures Manual EXHIBIT “1” FIN-003 Reserve Policy Page 6 of 7 The distribution of excess revenue at the end of each fiscal year will be according to the following guidelines and priorities. Excess revenue, for purposes of this Policy, is the difference between revenues and expenses in the General Fund at the end of a fiscal year after all required transfers are made to other funds. The priority for distributing or reserving excess revenue at year end is as follows: 1. All excess revenue shall first be used to replenish the General Fund Operating Reserve until it reaches the Policy-designated level. 2. The amount necessary to reserve for continuing appropriations and encumbrances that are not funded by other methods, if any. 3. The amount necessary to fund an adequate reserve for potential liabilities, compensated absences, and other post-employment benefits to be paid during the next fiscal year that are not funded by other methods, if any. 4. The amount necessary to fund the Contingency/Emergency Reserve to maintain General Fund operations, service delivery and budgetary stabilization in the event of an unexpected change in financial condition 4 or public emergency. Or, if there is insufficient amounts available to fully fund the Contingency/Emergency Reserve, an amount necessary to temporarily reserve for any known and/or anticipated economic downturns during the next fiscal year that are expected to be more than three percent (3%) of the previous year’s General Fund revenues. 5. Other considerations for the allocation of excess revenues will be at the discretion of the City Manager after review of the City’s outstanding obligations, approved goals, or level of reserves within each category. VIII. REPLENISHMENT OF RESERVES After consideration of the use of excess revenue in Section VI., the City Manager will annually review the level of each approved reserve category, and after determining what is reasonably necessary and appropriate for the City’s needs, may direct replenishment of critical reserves (General Fund Operating Reserve and Contingency/Emergency Reserve) from other reserves or may assign any remaining excess revenues accordingly. If a transfer is required from one reserve to another, the City Manager shall notify the City Council at the next regularly scheduled City Council meeting of such transfer. When reserves are used for any intended purpose, or as allowed under this Policy, and 4 An unexpected change in financial condition could include things such as the economic crisis in 2008, a loss or delay of a major revenue source, a natural disaster, liabilities not covered by insurance, or change in the pension discount rate for the City’s unfunded pension liability. 46 Administrative Procedures Manual EXHIBIT “1” FIN-003 Reserve Policy Page 7 of 7 a replenishment source is not identified at the time of use, the City Manager will advise the City Council during the annual budget process as to the status of reserves including any recommendations for replenishment. IX. COMPREHENSIVE ANNUAL FINANCIAL REPORT In accordance with generally accepted accounting principles and practices, all classifications of General Fund fund balance will appear in the Notes to Financial Statements of the CAFR and be classified in accordance with GASB 54. 47 48 10-Year GF Cash Flow Analysis and Reserve Snap Shot TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PRO (6,000,000) Station 33/71 Rehab/Rebuild $23.6M RDA (2,400,000) North Sphere Community Park ($19M) (15,500,000) (3,500,000) North Sphere Regional Park ($30M) (3,000,000) (20,000,000) (7,000,000) North Sphere Stormwater - Channel Projec (1,000,000) (8,500,000) (5,000,000) Henderson Trailhead Improvements (2,000,000) Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Sched 1 - 10Yr As Is 11/25/202549 10-Year GF Cash Flow Analysis and Reserve Snap Shot Minimum Reserve per GFOA 18,652,022 19,460,456 20,190,696 20,617,902 21,034,643 21,490,597 21,932,530 22,479,248 23,089,525 23,716,757 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Annual Percentage Funded 152%125%95%101%100%86%76%53%40%21% Non-Spendable (Leave Balances and Trust A 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (25% of Ops)21,691,071 22,341,803 23,012,057 23,702,419 24,413,492 25,145,897 25,900,273 26,677,282 27,477,600 28,301,928 COMMITTED GF Emergency Reserve (20% of GF Revenue 22,337,751 23,305,935 24,180,474 24,692,098 25,191,190 25,737,242 26,266,502 26,921,255 27,652,126 28,403,302 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for chg in Disc Rate)10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Total Required Reserve 77,719,235 79,303,399 84,064,816 76,546,894 79,513,428 84,461,920 83,321,206 96,968,106 91,000,908 87,527,825 Reserve Requirement Overfunded/(Under 40,131,253 19,662,968 (4,062,488) 951,130 (348,034) (11,655,818) (20,001,587) (45,905,464) (54,869,536) (69,199,250) This amount is included in Expenditures and Immediately Transferred Sched 1 - 10Yr As Is 11/25/202550 10-Year GF Cash Flow Analysis and Reserve Snap Shot (with Options) TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 98,966,367 80,002,328 77,498,024 79,165,394 72,806,102 63,319,619 51,062,643 36,131,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS (6,000,000) - - - - - - - - - Station 33/71 Rehab/Rebuild $23.6M RDA BONDS (2,400,000) - - - - - - - - - North Sphere Community Park ($19M) - (15,500,000) (3,500,000) - - - - - - - North Sphere Regional Park ($30M) - (3,000,000) (20,000,000) (7,000,000) - - - - - - North Sphere Stormwater - Channel Projects (1,000,000) (8,500,000) (5,000,000) - - - - - - - Henderson Trailhead Improvements - (2,000,000) - - - - - - - - Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Sched 2 - 10Yr Recommended 11/25/202551 10-Year GF Cash Flow Analysis and Reserve Snap Shot (with Options) Minimum Reserve per GFOA (16.7% of Rev)18,652,022 19,460,456 20,190,696 20,617,902 21,034,643 21,490,597 21,932,530 22,479,248 23,089,525 23,716,757 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Annual Percentage Funded 178%143%113%121%118%102%89%66%47%25% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED COMMITTED Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for PERS chg in Disc Rate) Facility Reserve 6,441,035 7,001,035 7,841,035 6,485,361 8,759,446 8,847,040 8,935,511 9,024,866 9,115,114 9,206,266 CIP Reserve (20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% of hist cost of assets)2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Econ Development/Community Investment w/ROI 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 Total Required Reserve 66,092,372 69,330,001 70,933,199 64,017,499 67,119,724 71,265,802 70,890,761 76,876,612 77,501,401 72,280,630 Reserve Requirement Overfunded/(Underfunded)51,758,116 29,636,366 9,069,129 13,480,525 12,045,670 1,540,300 (7,571,142) (25,813,970) (41,370,030) (53,952,056) This amount is included in Expenditures and Immediately Transferred Sched 2 - 10Yr Recommended 11/25/202552 10-Year GF Cash Flow Analysis and Reserve Snap Shot (with Options) TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS (6,000,000) Station 33/71 Rehab/Rebuild $23.6M RDA BONDS (2,400,000) North Sphere Community Park ($19M) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) North Sphere Regional Park ($30M) North Sphere Stormwater - Channel Projects (1,000,000) Henderson Trailhead Improvements Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Sched 3 - 10Yr w Financing 11/25/202553 10-Year GF Cash Flow Analysis and Reserve Snap Shot (with Options) Minimum Reserve per GFOA (16.7% of Rev)18,652,022 19,460,456 20,190,696 20,617,902 21,034,643 21,490,597 21,932,530 22,479,248 23,089,525 23,716,757 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 124,466,367$ 130,502,328$ 131,498,024$ 129,665,394$ 119,806,102$ 106,819,619$ 91,062,643$ 72,631,372$ 51,328,575$ Annual Percentage Funded 178%180%184%205%193%168%151%118%94%71% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (Innovation) (15% of Rev) (10% of Rev) Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for PERS chg in Disc Rate) Facility Reserve 6,441,035 7,001,035 7,841,035 6,485,361 8,759,446 8,847,040 8,935,511 9,024,866 9,115,114 9,206,266 20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 (100% of hist cost of assets) Econ Development/Community Investment w/ROI 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 Total Required Reserve 66,092,372 69,330,001 70,933,199 64,017,499 67,119,724 71,265,802 70,890,761 76,876,612 77,501,401 72,280,630 Reserve Requirement Overfunded/(Underfunded)51,758,116 55,136,366 59,569,129 67,480,525 62,545,670 48,540,300 35,928,858 14,186,030 (4,870,030) (20,952,056) This amount is included in Expenditures and Immediately Transferred Sched 3 - 10Yr w Financing 11/25/202554 Study Session: Reserve Analysis and Policy Considerations Presented by Veronica Chavez 55 Agenda 1.Importance of Reserve 2.Projected 10 -Year Cash Flow 3.Reserve Analysis 4.Options to Consider 5.Long-Term Planning Solutions 6.Conclusion 56 Importance of Reserve Funds 1.Protecting Against Uncertainty 2.Ensuring Stability 3.Supporting Long -Term Planning 4.Right Sizing Expectations 5.Responsible Management of Public Funds 57 Best Practices The Government Finance Officers Association (GFOA)recommends that general-purpose governments maintain an unrestricted fund balance equal to at least two months,or 16.7%, percent,of General Fund operating revenues or expenditures.Fund Balance represents the resources accumulated in governmental funds and is defined as the difference between a fund’s assets and its liabilities. Since 2018, GFOA has expanded its best practice recommendations for reserve policies. Key concepts for cities to consider include: •Follow GFOA Guidelines:Maintain an unrestricted General Fund balance equal to at least two months of operating revenues or expenditures (approximately 16.7%). percent). •Multiyear Forecasting:Integrate reserve targets into long-range financial plans to help stabilize services during economic downturns. •Structured Use Policy:Clearly define the circumstances under which reserves may be used, such as revenue shortfalls or natural disasters. •Transparent Reporting:Regularly disclose reserve levels and any drawdowns to support accountability and public trust. The City’s current Reserve Policy incorporates three of these four recommendations. The only exception is the GFOA’s 16.7% minimum threshold, which is not used in the current policy. 58 Comparison Reserve Thresholds City Total Reserve Requirement Los Angeles 5% of General Fund Revenue San Francisco 16.7% of General Fund Expenditures Sacramento 10% of General Fund Revenue San Diego 16.7% of General Fund Revenue Fresno 25% of General Fund Expenditures Santa Rosa 20-25% of General Fund Revenue Long Beach 10% of General Fund Expenditures Modesto 22.5% of General Fund Expenditures La Quinta 33% of General Fund Expenditures Rancho Mirage 84% of Estimated Fund Balance 59 Calculated Reserve Categories for FY 2025 -26 Category Requirement Designation FY 2025-26 Amount General Fund Operating Reserve 25% of Projected GF Expenditures Assigned -CM is delegated to determine use.21,691,071 Contingency/Emergency Reserve 20% of Projected GF Revenue Committed -Requires Council Action to use.22,337,751 Facilities Maintenance Reserve Amount equal to 70% of 2018 Replacement Reserve Study Annual Requirement.Committed -Requires Council Action to use.6,961,265 Capital Improvement Projects Reserve 20% of Total Five-Year CIP Plan Committed -Requires Council Action to use. *May also be "Restricted" depending on project. 6,045,267 Liability Reserve Pooled retention requirement for Liability and Workers’ Comp-currently $4 million Committed -Requires Council Action to use.4,000,000 Employment Benefits Reserve 50% of 1% Difference in the PERS discount rate Committed -Requires Council Action to use.10,697,122 Other Fund Stability Reserve This amount is immediately transferred on July 1 to other funds so no reserve is necessary.Committed -Requires Council Action to use.- Equipment Replacement Reserve 100% of Equpiment Assets as noted in ACFR Committed -Requires Council Action to use.2,869,354 Economic Development Reserve SARDA Land Sales -City Apportionment Committed -Requires Council Action to use.- Leave Balance and Trust Funds These balances are considered General Fund in Fund Balance but are not City Funds.Non Spendable 3,117,405 Total FY 2025-26 Reserve Requirement 77,719,235 60 Schedule 1 –Current 10 -Year Forecast 61 Schedule 1 -10-Year Cash Flow Analysis –Reserves As Is TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 98,966,367 80,002,328 77,498,024 79,165,394 72,806,102 63,319,619 51,062,643 36,131,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS(6,000,000) Station 33/71 Rehab/Rebuild $23.6M RDA BONDS(2,400,000) North Sphere Community Park ($19M) (15,500,000) (3,500,000) North Sphere Regional Park ($30M) (3,000,000) (20,000,000) (7,000,000) North Sphere Stormwater - Channel Projects (1,000,000) (8,500,000) (5,000,000) Henderson Trailhead Improvements (2,000,000) Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ 62 Projected 10 -Year Reserve Analysis Minimum Reserve per GFOA 18,652,022 19,460,456 20,190,696 20,617,902 21,034,643 21,490,597 21,932,530 22,479,248 23,089,525 23,716,757 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Annual Percentage Funded 152%125%95%101%100%86%76%53%40%21% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (25% of Ops)21,691,071 22,341,803 23,012,057 23,702,419 24,413,492 25,145,897 25,900,273 26,677,282 27,477,600 28,301,928 COMMITTED GF Emergency Reserve (20% of GF Revenue)22,337,751 23,305,935 24,180,474 24,692,098 25,191,190 25,737,242 26,266,502 26,921,255 27,652,126 28,403,302 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for chg in Disc Rate)10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 Other Fund Stability Reserve (equal to 25% T-fer Out) Facility Reserve (at 70% sensitivity)6,961,265 5,459,114 9,005,713 6,485,361 8,037,456 8,331,572 7,032,306 14,169,390 7,050,049 8,252,353 CIP Reserve (20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% cost of assets)2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Total Required Reserve 77,719,235 79,303,399 84,064,816 76,546,894 79,513,428 84,461,920 83,321,206 96,968,106 91,000,908 87,527,825 Reserve Requirement Overfunded/(Underfunded)40,131,253 19,662,968 (4,062,488) 951,130 (348,034) (11,655,818) (20,001,587) (45,905,464) (54,869,536) (69,199,250) This amount is included in Expenditures and Immediately Transferred As is 63 Staff Recommendations for Policy Improvements Combine Operating and Emergency Reserves (Totaling 25%). Simplify Facilities Reserves: Use 4% of Replacement Value (25-Year Life) Strengthen Economic/Community Investment Reserve ($5M/Yr w ROI Requirement to Use). Consider Housing Facility Reserve Upon Depletion of Housing Fund Balance (Currently $40M): Use 4% of Replacement Value net of Annual NOI from ops Create Productivity Savings/Innovation Reserve to support operational efficiency and continuous improvement 64 Schedule 2 –Revised 10 -Year Forecast 65 Schedule 1 -10 -Year Cash Flow Analysis –Reserved with Recommended Changes TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 98,966,367 80,002,328 77,498,024 79,165,394 72,806,102 63,319,619 51,062,643 36,131,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS (6,000,000) - - - - - - - - - Station 33/71 Rehab/Rebuild $23.6M RDA BONDS (2,400,000) - - - - - - - - - North Sphere Community Park ($19M) - (15,500,000) (3,500,000) - - - - - - - North Sphere Regional Park ($30M) - (3,000,000) (20,000,000) (7,000,000) - - - - - - North Sphere Stormwater - Channel Projects (1,000,000) (8,500,000) (5,000,000) - - - - - - - Henderson Trailhead Improvements - (2,000,000) - - - - - - - - Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ 66 Projected 10 -Year Reserve Analysis FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 98,966,367$ 80,002,328$ 77,498,024$ 79,165,394$ 72,806,102$ 63,319,619$ 51,062,643$ 36,131,372$ 18,328,575$ Annual Percentage Funded 178%143%113%121%118%102%89%66%47%25% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (Innovation) (15% of Rev)16,753,313 17,479,451 18,135,355 18,519,073 18,893,392 19,302,932 19,699,877 20,190,941 20,739,094 21,302,476 COMMITTED GF Emergency Reserve (10% of Rev)11,168,875 11,652,967 12,090,237 12,346,049 12,595,595 12,868,621 13,133,251 13,460,627 13,826,063 14,201,651 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for PERS chg in Disc Rate)10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 Other Fund Stability Reserve (equal to 25% T-fer Out) Facility Reserve 6,441,035 7,001,035 7,841,035 6,485,361 8,759,446 8,847,040 8,935,511 9,024,866 9,115,114 9,206,266 CIP Reserve (20% of CIP )6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% of hist cost of assets)2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Econ Development/Community Investment w/ROI 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 Total Required Reserve 66,092,372 69,330,001 70,933,199 64,017,499 67,119,724 71,265,802 70,890,761 76,876,612 77,501,401 72,280,630 Reserve Requirement Overfunded/(Underfunded)51,758,116 29,636,366 9,069,129 13,480,525 12,045,670 1,540,300 (7,571,142) (25,813,970) (41,370,030) (53,952,056) This amount is included in Expenditures and Immediately Transferred As Recommended 67 Schedule 3 –Revised w Financing 10-Year Forecast 68 Schedule 3 -10-Year Cash Flow Analysis –Revised with Financing Component TEN-YEAR FORECAST FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Estimated Revenue Property Tax 14,712,737 15,006,992 15,307,132 15,613,274 15,925,540 16,244,050 16,568,931 16,900,310 17,238,316 17,583,083 Sales Tax (General 1%)25,274,315 25,598,778 26,045,477 26,447,033 26,795,972 27,088,751 27,339,875 28,160,071 29,004,873 29,875,020 TOT & STR's 22,755,000 25,940,700 28,534,770 29,390,813 30,272,537 31,180,714 32,116,135 33,079,619 34,072,008 35,094,168 Measure G *25,887,322 26,416,518 26,929,837 27,394,342 27,805,342 28,462,695 29,031,949 29,612,588 30,500,966 31,415,994 All Other GF Revenue 23,059,380 23,566,686 24,085,153 24,615,027 25,156,557 25,710,002 26,275,622 26,853,685 27,444,466 28,048,245 Combined GF Revenue 111,688,754 116,529,674 120,902,369 123,460,489 125,955,949 128,686,212 131,332,512 134,606,274 138,260,629 142,016,509 Estimated Expenditures Salaries & Benefits 26,853,063 27,792,920 28,765,672 29,772,471 30,814,507 31,893,015 33,009,271 34,164,595 35,360,356 36,597,968 Professional Services 11,208,344 11,768,761 12,357,199 12,975,059 13,623,812 14,305,003 15,020,253 15,771,266 16,559,829 17,387,820 Public Safety 28,547,236 29,689,125 30,876,690 32,111,758 33,396,228 34,732,078 36,121,361 37,566,215 39,068,864 40,631,618 Other Ops 6,775,484 7,182,013 7,612,934 8,069,710 8,553,892 9,067,126 9,611,154 10,187,823 10,799,092 11,447,038 Repair & Maintenance 6,269,023 6,707,855 7,177,404 7,679,823 8,217,410 8,792,629 9,408,113 10,066,681 10,771,349 11,525,343 Events & Outside Agency Funding 2,111,135 2,237,803 2,372,071 2,514,396 2,665,259 2,825,175 2,994,685 3,174,366 3,364,828 3,566,718 Transfers to Other Funds (Leaves/AD's)1,846,000 1,901,380 1,958,421 2,017,174 2,077,689 2,140,020 2,204,221 2,270,347 2,338,458 2,408,611 Transfer to Library Services 2,523,443 2,573,912 2,625,390 2,677,898 2,731,456 2,786,085 2,841,807 2,898,643 2,956,616 3,015,748 Transfer to Aquatic Facility Services 2,152,543 2,174,068 2,195,809 2,217,767 2,239,945 2,262,344 2,284,968 2,307,817 2,330,896 2,354,205 Transfer to Fire Services* 7,750,000 10,500,000 11,500,000 13,000,000 14,000,000 14,560,000 15,142,400 15,748,096 16,378,020 17,033,141 Total Operational Expenditures 96,036,271 102,527,838 107,441,592 113,036,056 118,320,200 123,363,475 128,638,231 134,155,849 139,928,307 145,968,210 CIP Related Transfers Transfer to Projects*10,726,545 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Transfers for Facilities *3,847,482 3,885,957 3,924,816 3,964,065 4,003,705 4,043,742 4,084,180 4,125,021 4,166,272 4,207,934 Total GF Expenditures 110,610,298 118,444,356 122,871,429 118,964,793 124,288,578 135,045,504 140,818,995 146,863,250 153,191,900 159,819,306 Est. Beginning General Fund Balance 116,772,032 117,850,488 124,466,367 130,502,328 131,498,024 129,665,394 119,806,102 106,819,619 91,062,643 72,631,372 Revenue over (under) expenditures 1,078,456 (1,914,682) (1,969,060) 4,495,696 1,667,370 (6,359,292) (9,486,483) (12,256,976) (14,931,271) (17,802,797) Unfunded Requests (from Reserve) New Library ($30M) $20M RDA BOND PROCEEDS (6,000,000) Station 33/71 Rehab/Rebuild $23.6M RDA BONDS (2,400,000) North Sphere Community Park ($19M) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) (3,500,000) North Sphere Regional Park ($30M) North Sphere Stormwater - Channel Projects (1,000,000) Henderson Trailhead Improvements Estimated Amount from Measure G 9,400,000 12,030,561 11,505,021 1,964,673 1,964,673 7,638,287 8,096,584 8,582,379 9,097,322 9,643,161 Est. Ending General Fund Balance 117,850,488$ 124,466,367$ 130,502,328$ 131,498,024$ 129,665,394$ 119,806,102$ 106,819,619$ 91,062,643$ 72,631,372$ 51,328,575$ 69 Projected 10 -Year Reserve Analysis Minimum Reserve per GFOA (16.7% of Rev)18,652,022 19,460,456 20,190,696 20,617,902 21,034,643 21,490,597 21,932,530 22,479,248 23,089,525 23,716,757 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 Est. General Fund Bal 117,850,488$ 124,466,367$ 130,502,328$ 131,498,024$ 129,665,394$ 119,806,102$ 106,819,619$ 91,062,643$ 72,631,372$ 51,328,575$ Annual Percentage Funded 178%180%184%205%193%168%151%118%94%71% Non-Spendable (Leave Balances and Trust Accounts)3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 3,117,405 Reserve Requirement - Per Current Policy ASSIGNED GF Operating Reserve (Innovation) (15% of Rev)16,753,313 17,479,451 18,135,355 18,519,073 18,893,392 19,302,932 19,699,877 20,190,941 20,739,094 21,302,476 COMMITTED GF Emergency Reserve (10% of Rev)11,168,875 11,652,967 12,090,237 12,346,049 12,595,595 12,868,621 13,133,251 13,460,627 13,826,063 14,201,651 Liability Reserve ($4M)4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Emplymnt Bene Reserve (50% for PERS chg in Disc Rate)10,697,122 10,804,093 10,912,134 11,021,255 11,131,468 11,242,783 11,355,211 11,468,763 11,583,450 11,699,285 Other Fund Stability Reserve (equal to 25% T-fer Out) Facility Reserve 6,441,035 7,001,035 7,841,035 6,485,361 8,759,446 8,847,040 8,935,511 9,024,866 9,115,114 9,206,266 CIP Reserve (20% of CIP)6,045,267 7,319,615 6,792,935 392,935 392,935 3,657,538 2,387,729 7,319,615 6,792,935 392,935 Equip Replacement Reserve (100% of hist cost of assets)2,869,354 2,955,435 3,044,098 3,135,421 3,229,483 3,229,483 3,261,778 3,294,396 3,327,340 3,360,613 Econ Development/Community Investment w/ROI 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 Total Required Reserve 66,092,372 69,330,001 70,933,199 64,017,499 67,119,724 71,265,802 70,890,761 76,876,612 77,501,401 72,280,630 Reserve Requirement Overfunded/(Underfunded)51,758,116 55,136,366 59,569,129 67,480,525 62,545,670 48,540,300 35,928,858 14,186,030 (4,870,030) (20,952,056) This amount is included in Expenditures and Immediately Transferred As Recommended –with bond issuance 70 Reserve Policy Questions How much is enough or too much? •GFOA minimum is 16.7% (or 2 months of revenue) •Most city policies are anywhere from 15 -25% •Current policy may be over restrictive, but forecast reflects potential challenges in the future What are some options and/or potential solutions? •Revise policy in alignment with best practices •Revise policy to provide flexibility to support community growth, innovation, and leverage AI/automation to drive efficiency •Identify other Revenue Sources •Issue debt (Lease Revenue Bonds) to smooth out current capital needs Risk mitigation (What is our absolute low?) To safeguard any changes to the policy, establish a minimum threshold that must be maintained annually (ie. emergency funds must be maintained at all times) and other categories may be used as needed and/or available. 71 Big Picture/Bottom Line Current Policy Year 1 Year 10 Reserve Required $77.7M $87.5M Percent Funded 152%21% Available Fund Balance $40.1M ($69.2M) Revised Policy Year 1 Year 10 Reserve Required $66.1M $72.2M Percent Funded 178%25% Available Fund Balance $51.7M ($53.9M) Revised Policy w/Bond Year 1 Year 10 Reserve Required $66.1M $72.2M Percent Funded 178%71% Available Fund Balance $51.7M ($20.9M) 72 Ultimate Goal: Move forward strategically and with confidence Financial stability We remain committed to strong financial management. Strategic investments Our next steps focus on long- term value creation. Sustained growth We’re positioned to proactively support growth in the coming years. 73 Staff is seeking direction and if recommendations are approved, staff will return to the January meeting with a formal request to revise the reserve policy. Questions? 74 Page 1 of 5 CITY OF PALM DESERT STAFF REPORT MEETING DATE: December 11, 2025 PREPARED BY: Chris Gerry, Senior Project Manager SUBJECT: STUDY SESSION: PROVIDE INPUT ON PURSUING LANDSCAPE AND LIGHTING DISTRICTS ON CITYWIDE PRIVATELY MAINTAINED MEDIANS AND SELECT PARKWAYS. RECOMMENDATION: Provide input on pursuing landscape and lighting districts on citywide privately maintained medians and select parkways. BACKGROUND/ANALYSIS: Overview: The City of Palm Desert (City) maintains a majority of landscaped medians citywide. However, nine segments of the City’s medians remain subject to legacy developer-executed landscape maintenance agreements or similar instruments that assign ongoing maintenance obligations to private entities. These maintenance obligations create a fragmented system resulting in inconsistent service levels, uneven reinvestment, and varying maintenance standards along the same corridors. Staff is seeking direction on whether to pursue converting these privately maintained medians into City-administered Lighting and Landscape District (LLD) zones. The City also has 10 homeowner’s associations (HOAs) along two streets that provide limited landscape maintenance. These HOAs are responsible for maintaining right-of-way areas that sit directly beside segments already maintained through City LLDs, resulting in a checkerboard pattern of responsibility along the same corridors. This patchwork creates inconsistent service levels and places ongoing obligations on a small number of HOAs that neighboring communities are not required to assume. Therefore, staff is requesting input on whether the City should examine the viability of terminating these HOA landscape maintenance responsibilities and transitioning those areas into LLD zones to align with adjacent segments on the same street. Lighting and Landscape Districts (LLDs): LLDs are assessment districts established under the Landscape and Lighting Act of 1972 to fund the installation, operation, and maintenance of public landscaping, lighting, and related improvements. This framework provides a standardized method for administering services within public rights-of-way and differs from areas privately maintained under separate development conditions. The City utilizes LLDs as a mechanism for maintaining landscaped medians, parkways, and other streetscape features within defined geographic areas. Formation of a new LLD must comply with Proposition 218, which involves the following steps:  Identify Improvements and District Boundary: Define the public improvements to be funded and the parcels that will receive special benefit. 75 City of Palm Desert Privately Maintained Medians and Select Parkways Page 2 of 5  Engineer’s Report: A licensed engineer prepares a report describing the improvements, identifying special benefits, and calculating proportional assessments.  Resolution of Intention: The City Council adopts a resolution initiating formation and setting a public hearing.  Property Owner Notification: All affected property owners receive a Proposition 218 notice and assessment ballot.  Public Hearing and Ballot Tabulation: The City receives public comments and tabulates all returned ballots.  Majority Protest Test: If weighted ballots submitted in opposition exceed those in support (a majority protest), the district cannot be formed.  District Formation: The City Council adopts a Resolution Confirming the Assessment, and the assessments are placed on the property tax roll.  Annual Levy: Assessments may be levied annually provided they do not exceed previously approved maximum rates. Each LLD includes a set of parcels that receive a proportional benefit from the maintained improvements. Annual assessments are levied on those parcels based on the cost of providing the required maintenance, with all calculations and apportionment methodologies documented in the Engineer’s Report presented to City Council each fiscal year. Existing Conditions: Privately Maintained Medians (Developers): As mentioned, several segments of landscaped medians throughout Palm Desert are currently maintained by private entities under recorded maintenance agreements or conditions of approval associated with past development projects. These agreements assign responsibility for long - term maintenance to the developer or a successor property owner, rather than incorporating the areas into a City-administered LLD. As a result, these segments are maintained independently of the City’s system, creating varying service levels, uneven reinvestment, and a fragmented set of maintenance responsibilities. The City has identified multiple privately maintained medians throughout Palm Desert, as outlined in Attachment 1. The characteristics of these privately maintained areas differ across locations. Improvements range from standard landscaped treatments to medians that include upgraded plant materials or decorative hardscape. Maintenance responsibilities for these areas are held by nine private entities and cover approximately 256,600 square feet of landscaped improvements. The table below provides a breakdown of the street name, segment limits, and square footage of landscaped areas. 76 City of Palm Desert Privately Maintained Medians and Select Parkways Page 3 of 5 Privately Maintained Medians (Developers) Street Segment Limits Square Feet Silver Spur Trail Portola Avenue to Mesa View Drive 66,400 Country Club Drive & Portola East of Country Club Drive, South of Portola 34,800 Portola & Ironwood Iron Tree Drive to Buckboard Trail 34,600 Mesa View Drive Highway 74 to Prairie Drive 32,900 Dinah Shore Drive Monterey Avenue to Portola Road 32,600 Highway 74 Shadow Mountain Drive to Thrush Drive 22,100 Dinah Shore Drive Portola Road to Gerald Ford Drive 16,700 Julie Lane East of Potola Road to Roundabout 8,500 Hovley Lane East Beacon Hill to Water Way 8,000 Total: 256,600 Privately Maintained Parkways (HOAs): Several residential tracts in Palm Desert – most notably the small, ungated HOAs along Hovley Lane West and Shepherd Lane – include parkway areas that are privately maintained pursuant to landscape maintenance agreements established during the orig inal development. These HOAs, generally consisting of fewer than 20 households, were assigned responsibility for maintaining frontage landscaping, irrigation infrastructure, and limited lighting within the public right-of-way in lieu of being incorporated into a City-administered LLD. These HOA-maintained segments create a patchwork of responsibilities along the same streets, where some frontage areas are maintained by individual HOAs while adjacent segments are maintained through City LLDs. This fragmented structure leads to inconsistent maintenance standards, uneven reinvestment, and recurring obligations placed on small HOAs that neighboring communities do not assume. The City has identified multiple HOA-maintained parkway segments within these neighborhoods, as outlined in Attachment 2. Maintenance responsibilities are held by 10 HOAs and cover an estimated 68,900 square feet of right-of-way improvements. The table below summarizes the years constructed, tract (HOA), locations, number of homes, and square footage of associated landscaped areas. Privately Maintained Parkways (HOAs) Constructed Tract (HOA) Location Homes Square Feet 2001 Daisey Lane Shepherd Lane & Daisey Lane 15 16,800 2003 Olive Grove Shepherd Lane & Jeri Lane 16 2,800 2005 Corte Placitas Hovley Lane West 20 3,000 2006 Pele Place Shepherd Lane & Pele Place 14 13,700 2006 Portola Pointe Shepherd Lane & Portola Pointe Lane 16 3,000 2006 Terracina Shepherd Lane & Kokopelli Circle East 16 4,600 2010 – 2014 Kingston Court Shepherd Lane, Kingston Court E/W & Imperial Court E/W 64 11,600 2013 University Pointe Shepherd Lane & University Pointe 16 3,800 2014 The Encore Shepherd Lane, Anastacia Lane & Encore Lane 32 5,800 2014 Signature Series Shepherd Lane & Cosmopolitan Lane 16 3,800 Total: 225 68,900 77 City of Palm Desert Privately Maintained Medians and Select Parkways Page 4 of 5 One small HOA has previously approached the City to request relief from its existing landscape maintenance agreement, noting that managing right-of-way landscaping has become difficult for a small board with many part-time residents. Although the HOA will continue to retain a property manager for other association functions, transitioning right-of-way landscape responsibilities to an LLD would remove a recurring obligation that board members must currently oversee. The HOA indicated that an LLD may provide a more consistent and sustainable approach. Council Considerations: Establishing new LLDs to assume responsibility for privately maintained medians and HOA - maintained parkways involves several considerations. Legal Framework and Authority: While Proposition 218 outlines the procedural steps for forming or modifying an LLD, transitioning areas currently governed by private maintenance agreements adds additional legal layers. These include evaluating whether existing agreements can be amended or ter minated, determining the City’s authority to assume maintenance of improvements located within the public right-of-way, and confirming whether any recorded conditions of approval must be modified. Staff would need to coordinate with the City Attorney’s Off ice to review these documents and identify any procedural obligations. Fiscal Impacts and Cost Allocation: Transitioning these areas into City-administered LLDs would require determining all eligible maintenance costs, establishing assessment methodologie s, and confirming that assessments fully recover the cost of services to avoid General Fund exposure. For HOAs, this may also involve analyzing potential impacts on existing HOA assessments and understanding how costs shift between the HOA and the proposed LLD. Operational Capacity and Service Level Consistency: Bringing these areas under City management would create more uniform maintenance standards, inspection routines, and reinvestment practices. However, it may also expand the City’s operational responsibilities, requiring review of contractor capacity, staff oversight needs, and long-term resource planning. Conditions of Existing Infrastructure: Privately maintained areas often include older landscaping, irrigation systems, and lighting infrastructure. Before assuming responsibility, the City would need to assess the condition of these assets to determine whether initial repairs or capital rehabilitation are required, and how any such costs would be allocated under Proposition 218. Community Engagement and Property-Owner Support: Any transition would require early engagement with affected property owners to ensure they understand the implications of forming or joining an LLD. Participation in an LLD results in a new or modified annual assessment that must receive majority approval under Proposition 218. Potential Opt-In Program for Interested Neighborhoods: 78 City of Palm Desert Privately Maintained Medians and Select Parkways Page 5 of 5 Because interest levels among HOAs and other private maintenance entities may vary, Council may wish to consider whether the City should establish a structured “opt-in” evaluation process. Such a program would allow eligible neighborhoods to formally express interest, after which staff could conduct preliminary screening for legal feasibility, infrastructure condition, and potential assessment impacts. This approach would provide a transparent and consistent pathway for neighborhoods seeking relief from private maintenance obligations, while ensuring that the City evaluates requests on a standardized basis. Broader Policy Implications: Transitioning individual neighborhoods into LLDs may increase consistency across similar residential areas but could also set a precedent for other privately maintained communities to request inclusion. Council may wish to consider the long-term implications of expanding City- maintained rights-of-way on an incremental or case-by-case basis. Conclusion: Staff is seeking Council input on whether to further evaluate transitioning select privately maintained medians and HOA-maintained parkways into City-administered LLD Zones. This next phase would include: (1) confirming legal mechanisms for modifying or terminating existing maintenance agreements and conditions of approval; (2) identifying rehabilitation and ongoing maintenance costs; (3) assessing City operational capacity; and (4) evaluating through outreach the likelihood of Proposition 218 support from affected property owners. Council direction will determine whether staff proceeds with this detailed analysis. Legal Review: This report has been reviewed by the City Attorney’s Office. FINANCIAL IMPACT: There is no immediate fiscal impact associated with receiving Council input. Should Council direct staff to pursue further evaluation of transitioning privately maintained medians or HOA-maintained parkways into new or expanded LLDs, additional analysis will be required to identify maintenance costs, assessment methodologies, and potential capital needs and resources. ATTACHMENTS: 1. Median Map and Photos (Developers) 2. Parkway Map and Photos (HOAs) 3. PowerPoint Presentation 79 80 Attachment 1 Privately Maintained Median Map and Photos 81 Silver Spur Trail: Portola Avenue to Mesa View Drive (1 of 9) 82 Country Club Drive and Portola Avenue (2 of 9) 83 Portola Avenue and Mesa View Drive (3 of 9) 84 Mesa View Drive: Highway 74 to Prairie Drive (4 of 9) 85 Dinah Shore Drive: Monterey Avenue to Portola Road (5 of 9) 86 Highway 74: Shadow Mountain Drive to Thrush Drive (6 of 9) 87 Dinah Shore Drive: Portola Road to Gerald Ford Drive (7 of 9) 88 Julie Lane: Portola Road to Roundabout (8 of 9) 89 Hovley Lane East: Beacon Hill to Water Way (9 of 9) 90 Attachment 2 Privately Maintained Parkway Map and Photos 91 Daisey Lane: Shepherd Lane and Daisey Lane (1 of 10) 92 Landscape & Lighting Districts: Medians & Select Parkways City Council Study Session December 11, 2025 93 Overview •Landscape & Lighting District (LLD) •Privately Maintained Medians •Privately Maintained Parkways •What We Know & What Remains Unclear •Council Considerations 2 94 What are LLDs? 3 Authorized under the Landscape & Lighting Act of 1972. Typically established in development conditions & formed through Prop 218 ballot process. Funds landscaping, streetlighting, irrigation, & streetscape maintenance. Levied annually & collected through property tax bill. Provide a consistent & City-managed maintenance structure. 95 LLDs in Palm Desert 4 •Single consolidated district covering the City’s formal LLD maintenance areas. •Comprised of 33 separate benefit Zones, each tied to specific neighborhoods or developments. •Funds parkway landscape maintenance in 33 Zones. •Areas outside the 33 Zones are publicly or privately maintained or are non-assessable parcels. 96 Privately Maintained Medians 5 97 Privately Maintained Medians 6 WHAT ARE THEY? •City maintains all medians, except for an estimated 9 segments. •Assigned during development as conditions of approval. •Placed under maintenance agreements or equivalent. •Maintenance levels vary. 98 Privately Maintained Medians WHERE ARE THEY?SQUARE FEET 1.Silver Spur Trail (Portola to Mesa View) 66,400 2.Country Club (west) & Portola (south)34,800 3.Portola/Mesa View (Alamo to Reserve) 34,600 4.Mesa View (Hwy 74 to Prairie)32,900 5.Dinah Shore (Monterey to Portola)32,600 6.Highway 74 (Shadow Mountain to Thrush)22,100 7.Dinah Shore (Portola to Gerald Ford)16,700 8.Julie Lane (Portola to Roundabout)8,500 9.Hovley Lane East (Beacon Hill to Water Way)8,000 7 1 2 3 4 5 7 8 9 6 99 Silver Spur Trail 8 100 Hovley Lane East 9 101 Country Club Drive & Portola Avenue 10 102 Privately Maintained Parkways 11 103 Privately Maintained Parkways 12 PARKWAYS UNDER DISCUSSION •Estimated 10 HOAs in ungated tracts maintain their own parkways. •Shepherd Lane (9) •Hovley Lane West (1) •Assigned during development as conditions of approval. •Placed under maintenance agreements or equivalent. •HOA parkways are contiguous with City-maintained LLDs. 104 Privately Maintained Parkways WHERE ARE THEY? HOUSEHOLDS SQUARE FEET 1.Daisey Lane 15 16,800 2.Pele Place 14 13,700 3.Kingston Court 64 11,600 4.The Encore 32 5,800 5.Corte Placitas 20 3,000 6.Terracina 16 4,600 7.Signature Series 16 3,800 8.University Pointe 16 3,800 9.Portola Pointe 16 3,000 10.Olive Grove 16 2,800 13 3 4 6 5 9 1 2 7 8 10 105 Kingston Court 14 106 Portola Pointe 15 107 Background: What We Know & What Remains Unclear •Identified areas are privately maintained due to past conditions of approval & landscape maintenance agreements. •The rationale for inconsistent past practices is unclear & likely reflected prior Council, staff or developer preferences. •An LLD may offer a consistent mechanism to resolve these legacy discrepancies. •HOA Example: Corte Placitas has already requested relief, demonstrating the need for a standardized approach. 16 108 Council Considerations Is the City willing to assume responsibility for new LLDs? Taking over medians or parkways places permanent operational responsibility on the City. Are affected property owners supportive of new LLDs? A new LLD Zones requires Proposition 218 approval from affected property owners; without their support, formation cannot proceed. Are medians & parkways in acceptable conditions to assume responsibility? Some segments may require upfront rehabilitation. If so, the improvements would be included in the LLD & recovered through property-owner assessments. Does inclusion of these areas create policy precedent? Accepting these segments may prompt additional neighborhoods to request inclusion. 17 109 Questions 18 110 Page 1 of 6 CITY OF PALM DESERT STAFF REPORT MEETING DATE: December 11, 2025 PREPARED BY: Thomas Soule, Public Affairs Manager SUBJECT: STUDY SESSION: PROVIDE AN UPDATE ON THE CITY’S MARKETING PROGRAM RECOMMENDATION: Receive a presentation and provide guidance on future market targeting, research topics, and destination positioning to shape the City’s tourism marketing strategy for FY 2025 –26 and FY 2026–27. BACKGROUND/ANALYSIS: Purpose of the Program The City’s marketing and communications program serves two primary functions: 1. Attract tourism that drives economic revenue through Transient Occupancy Tax (TOT) and sales tax 2. Promote civic engagement by providing clear, accessible, and timely information about City services, programs, and events. These two functions are structurally distinct but strategically aligned, with each reinforcing Palm Desert’s identity as both a destination and a vibrant community. Tourism marketing is managed through the City’s contracted agency, Idea Peddler, which executes regional advertising and brand campaigns in key out -of-market areas. Local and regional promotions are handled in-house by City staff, with a focus on community events and resident engagement. This report outlines the program’s structure, target audiences, marketing channels, budget allocation, performance outcomes, and planned strategic development through market research. Economic Importance of Tourism to Palm Desert Tourism remains one of Palm Desert’s largest and most influential economic sectors. According to the attached 2024 Economic Impact of Visitors to Palm Desert report published in June 2025 by Tourism Economics, an Oxford Economics Company, tourism in Palm Desert accounts for:  $1.7 billion in visitor spending (+0.9% vs. 2023)  $2.1 billion in total economic impact  11,000 jobs supported (one in four jobs in the city)  $188 million in state and local tax revenue  $7,800 in annual tax offset per household 111 City of Palm Desert City Marketing Update Page 2 of 6  $307 million in total government revenues These findings reinforce that tourism activity directly supports the City’s fiscal stability. In FY 2024-25, Palm Desert received $23,693,069 in transient occupancy tax (TOT) and $31,379,892 in sales tax, together supporting 53.7 percent of General Fund Operations. A competitive tourism position is therefore essential to maintaining the quality of services Palm Desert provides. Operating Realities The communications and tourism marketing landscape continues to evolve, necessitating that the City remains responsive and forward-looking. Major travel trends identified in the tourism marketing industry show:  Significant growth in AI-based travel planning, with half of leisure travelers planning to use generative AI tools next year.  High travel intention, with 67 percent of travelers stating they do not need a specific reason to travel.  Resurgence in road trips, driven by flexibility and spontaneity.  Growth in experiential and immersive travel, comprising 63 percent of bookings.  Demand for meaningful luxury, emphasizing authenticity and local experience.  Increased interest in relaxation-focused trips (91 percent).  Rise of slow travel, with longer stays and fewer destination switches.  Increases in hotel budgets and strong growth in family travel. These shifts support the need for updated research, intentional creative assets, and continual optimization—elements reflected in the City’s 18-month tourism strategy. Program Strategy: A Unified Communications System Palm Desert uses a dual communication model that aligns work with the expertise for each function: 1. In-House Resident Communications City staff develop and manage all resident -facing content to ensure clarity, consistency, and accessibility. Channels include BrightSide (print and digital), an events newsletter, PalmDesert.gov homepage news items, DiscoverPalmDesert.com, social media, local media relations, e-mail signature banners, and local advertising (radio, digital, print, social media) to support City-run events, and economic development. Year-to-date performance continues to show strong resident engagement:  BrightSide print newsletter: mailed bi-monthly to 40,000 addresses at a cost of $9,200  BrightSide digital newsletter: delivered monthly to 8,869 subscribers; 61.4% open rate (industry benchmark: 28.4%)  DiscoverPalmDesert.com: 345,000 website users (+20% year over year)  Discover Palm Desert events newsletter: 9,604 subscribers; 48.3% open rate 112 City of Palm Desert City Marketing Update Page 3 of 6  Facebook: 3.96M views; 27,023 page visits; +1,961 followers  Instagram: 795,257 views; +1,975 followers These metrics reflect growing reliance on City channels for time ly updates, event information, and emergency messaging. 2. Agency-Managed Tourism Marketing and Public Relations Tourism marketing requires specialized technical skills—multi-market media buying, creative production at scale, attribution modeling, and PR outreach—that are not cost effective to build in-house. Paid Media Performance (FYE25)  4.1:1 return on ad spend (industry norm: 2.1–3.1)  $2.2 million in attributable revenue  62 million paid media impressions  $75,000 in negotiated added-value media Public Relations (FYE26)  29.4 million unique monthly visitors across publisher sites  500+ journalist outreach points  Writers hosted from TimeOut, Los Angeles Magazine, and TravelAge West Discover Palm Desert Instagram Channel (FYE26)  208 Instagram feed posts  52 Instagram story posts  +18% increases in shares  +31% increases in comments  +582 followers Creative Production (FYE 22–FYE26)  Over 1,000 content assets delivered  96 Pocket Guide videos and 700+ images  25 videos for the Desert Song campaign  Awards: o Desert Ad Fed Gold Desert Addy – Pocket Guide o Desert Ad Fed Silver Desert Addy – Desert Song o ESTO Advocacy & Grassroots Award – Unite Palm Desert Marketing and Communications Program Budget 1. In-House Resident Communications Budget  $ 62,600 – Local advertising and community promotions  $105,000 – BrightSide design, printing, and postage 113 City of Palm Desert City Marketing Update Page 4 of 6 This budget supports BrightSide print distribution, event promotions, targeted local ads, and other community-facing outreach. 2. Agency-Managed Tourism Marketing and Public Relations Budget: MARKETING EFFORT DESCRIPTION AMOUNT ALLOCATED MEDIA BUY Digital display, video, social, streaming, search, sponsored content, and market-specific planning. This is a pass-through cost. $525,455 PUBLIC RELATIONS Press outreach, media hosting, journalist engagement, story development $44,000 TOURISM SOCIAL MEDIA Content planning, posting, follower engagement, and analytics $29,000 STRATEGY & ACCOUNT MANAGEMENT Ongoing campaign oversight, performance monitoring, reporting, optimization $105,545 CREATIVE SERVICES Qualitative research, photography, video production, editing, graphic design, social media content development, and Palm Desert annual calendar. $186,000 Total Annual Budget $890,000 This structure allows Palm Desert to remain competitive with regional destinations while maintaining flexibility and cost efficiency. Results: Strengthening Resident Trust and Delivering Measurable Economic Return Resident Communications: A Trusted Source of Local Information Engagement with City channels continues to rise, indicating that residents rely on BrightSide, the City website, and social platforms for timely updates, event information, and emergency messaging. This trust helps reduce misinformation, promotes civic participation, and ensures that residents can quickly access accurate information when they need it most. Tourism Marketing: Verified Impact That Protects the General Fund Independent data confirms that Palm Desert’s tourism marketing program continues to contribute meaningfully to the City’s economic vitality. The City’s advertising is influencing real traveler behavior, driving measurable visitor spending, and supporting the broader $1.7 billion visitor economy documented in the regional economic impact study. The reported attributable revenue reflects only the portion of traveler bookings that can be directly verified through participating travel platforms, meaning it reflects a minimum return generated by the City’s advertising. This conservative measure ensures the City reports only verifiable outcomes. Staff and vendors remain mindful that these are public funds. Rising advertising costs require constant optimization and negotiation to protect the City’s purchasing power ; added-value placements are used to extend the reach of the existing budget. Ongoing oversight, performance review, and real-time adjustments ensure the program remains accountable and efficient. Looking Ahead: 18-Month Tourism Marketing Strategy 114 City of Palm Desert City Marketing Update Page 5 of 6 The following plan outlines the major steps in deve loping Palm Desert’s next-generation tourism campaign. This plan pertains only to the tourism marketing program; all in -house resident communications will continue their established track. 1. Qualitative Research (December 2025 – March 2026)  Stakeholder Interviews (Palm Desert, 2-day session)  Hotel partners, attractions, retailers, restaurateurs, event producers, and others will provide insights into evolving visitor expectations, local opportunities, and market challenges.  Market Focus Groups (Four outbound markets)  Focus groups in Seattle, Los Angeles, Orange County, and the San Francisco Bay Area — the City’s highest-value visitor markets—will provide qualitative insights into traveler motivations, decision-making, and perceptions of Palm Desert.  This will be the City’s first major research effort since 2018, aligning with significant changes in travel behavior and planning tools.  The research initiative will help reconnect Palm Desert’s destination identity with both traveler motivations and local sentiment. As outlined in the attached Tourism Qualitative Research Framework (2025), the work is designed to uncover the emotional and behavioral drivers behind visitation, clarify differentiators among competing destinations, and ensure that future campaign development aligns with both community values and visitor expectations. 2. New Brand Campaign Strategy (July – September 2026) Following research, the City and its agency will develop:  Creative Strategy  Campaign Architecture (messaging framework, visual direction, concept hierarchy) This will define Palm Desert’s next multi-year tourism brand platform. 3. Campaign Production (November 2026)  Video and photo shoot  Hero video  Social cuts  Still photography for print, digital, and PR 4. New Campaign Launch (January 2027) Launching at the beginning of the calendar year aligns with peak trip -planning season and maximizes the City’s visibility during high-yield tourism months. 5. PR Momentum (Summer 2026) Public relations activity will increase during Summer 2026 to support Desert Surf and to begin building interest and earned media momentum ahead of the fall/winter travel season. This includes:  Press previews  Influencer visits 115 City of Palm Desert City Marketing Update Page 6 of 6  Early storytelling aligned with campaign themes City Council Guidance Requested To ensure the next phases of the City’s tourism marketing work continue to reflect Council’s long-range priorities, staff requests input on the following areas:  Market Priorities: Would Council like staff to use the upcoming research to also determine whether additional geographic markets may be appropriate to consider in future years, based on data-driven indicators such as visitor propensity, travel behavior, and media cost efficiency?  Research Considerations: Are their specific topics, emerging visitor trends, or community priorities that Council would like staff to ensure are incorporated into the upcoming research initiative?  Strategic Emphasis: Are there regional, economic, or destination-industry factors on the horizon that Council believes should inform long-term messaging and positioning? Legal Review: This report has been reviewed by the City Attorney’s Office. FINANCIAL IMPACT: There is no financial impact associated with this item. All program activities are supported by the approved FY 2025-26 Annual Budget; any future funding needs will be evaluated through the City’s normal budget process. ATTACHMENTS: 1. 2024 Economic Impact of Visitors to Palm Desert 2. Tourism Qualitative Research Framework (2025) 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 Qualitative Research | 137 Part 1 Overview Executive Summary Goals & Rationale Part 2 Approach Stakeholder Interviews Origin Market Focus Groups Part 3 Outcome Table of Contents 138 Overview Part 1 139 Through qualitative research, we’re uncovering the deeper “why” behind visitation; linking traveler motivations with Palm Desert’s evolving identity. This work will build a human-centered foundation for a refreshed brand that reflects the true value and connection behind fly and drive audiences, respectively . Why Palm Desert? the question we’re in pursuit to answer 140 Goals & Rationale Reconnect identity with traveler and local sentiment. Uncover emotional and behavioral drivers of visitation to clarify brand differentiators within travel. Ensure brand evolution aligns with community values and visitor expectations. 1. Establish an insight base to inform creative, messaging and experience design. 4.2. 3. 141 Approach Part 2 142 To assess and evolve an authentic brand positioning for Palm Desert, we’ll look both internally and externally to uncover emotional drivers, shape authentic storytelling, identify trends/behaviors and fuel strategic work that resonates with the respective values in fly and drive audiences. Our Objective Who We’re Speaking To Stakeholder Interviews Origin Market Focus Groups Understand how locals perceive tourism’s impact on community, culture, and identity. Ensures marketing strategies align with local pride and sustainability goals, while addressing tensions. Understand perceptions, motivations, and barriers among potential visitors before they arrive. Reveals how the destination is positioned in travelers’ minds compared to competitors, and what emotional/functional triggers drive consideration. 143 Why do travelers choose Palm Desert? The Central Question Perceptions of authenticity, pace and sophisticationTravel tradeoffs:accessibility v. exclusivity Market Specific:values and culture Moments that make the trip Sources of friction or disconnect Behavioral & emotional layers (motivation → meaning → memory) 144 Outcome Part 3: 145 All of this information culminates into one ownable positioning for the City of Palm Desert’s Travel & Tourism. A Short-form Video that brings research to life in a visceral, emotional way. Humanizes findings by showing real voices and faces. Helps stakeholders internalize the passion, concerns, and experiences of visitors and residents alike and creates a tangible tool for information sharing/alignment. A Report that synthesizes qualitative insights into a digestible, strategic framework. Translates anecdotes into actionable insights for committees, boards, and partners. Serves as the north star document for aligning decision-makers on positioning, priorities, and next steps. | 146 Building Strength Through Truth Need States/Key Drivers Competitive Advantages & Differentiators Bonus: Reassess the competitive set for local getaways and flights based on origin market behaviors Current perceptions of Palm Desert Ownable Positioning 147 thank you thank you thank you thank you thank you thank you |2025 148