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Home My WebLink AboutRes 2015-84 - HA-77 - FY14-15 Budget - YE Adjstmnts Resolution No. 2015-84 Resolution No. HA-77 CITY OF PALM DESERT Palm Desert Housing Authority FINANCE DEPARTMENT STAFF REPORT Request: Adopt Resolution No. 2015- 84 and Housing Authority Resolution HA - 77 authorizing the fiscal year budget amendment to provide transfer, appropriation and estimated revenues of unobligated funds from the General Fund, Equipment Replacement fund, Presidents Plaza I, Retiree Health fund, Housing Asset fund, Prop. A Fire Fund, Air Quality fund Palm Desert Recreation Facilities Corporation fund, Desert Willow, Art in Public Places, Public Safety Grant Fund, and the Building Maintenance fund as of June 30, 2015. (Joint Consideration with Housing Authority) Date: September 24, 2015 Contents: Resolution No. 2015- 84 Resolution No. HA- 77 Recommendation By Minute Motion: 1. Convene the Housing Authority meeting to conduct a joint hearing on the proposed amendment to City and Housing Authority budgets; 2. Waive further reading and adopt Resolution No. 2015- 84 ; and Waive further reading and adopt Resolution No. HA - 77 3. Recess the Housing Authority meetings to the close of the City Council meeting. Executive Summary Due to Transient Occupancy Tax increase over budget by $400,000 Property Tax revenue ($500,000), Unsecured Taxes $100,000, State Mandated Cost Reimbursement $130,000, Subdivision revenue of $140,000, Sales Tax decrease of $250,000 and expenditures of 97% of budget (estimated expenses at $48,000,000), staff is recommending placing the excess funds in Equipment Replacement Fund ($1.000,000), Building Maintenance ($500,000), and Retiree Health Fund/Compensation Balances ($1,000,000). Staff Report Approve Resolution Authorizing FY2014-2015 Budget Amendment for Appropriations September 24, 2015 Page 2 of 2 Background Staff has completed a year-end analysis of 2014/15 fiscal year budget and financial position of the City. The estimated revenues for the General Fund are $51.5 million versus estimated expenditures of $48 million plus $2.5 million transfer out. The following is an explanation of major changes either the increase in revenue or increase in appropriation for various funds: Increase/(Decrease) in Revenue/Appropriations: Department/Fund Amount Explanation of Transfer (138,000) Inter fund Transfers Out 2,500,000 Transfer to Equip. Replacement 1 M, Retiree Health 1M, Building Maintenance 500k Police Department (310,000) Lower Sheriff Costs - Overtime Marketing (210,000) Lower Advertising Media Buys Capital Outlay 150,936 Capital Outlay—GASB 34 Allocation Landscaping 144,000 Higher Repair/Maint. And Employee Safety Prop A Fire Tax 359,000 Higher Salary and Benefits charged by County Fire. Energy Independence 4,609,000 Wells Fargo Bond Call - Energy Loan Air Quality Mangement 153,000 Street Repair for Sand clean up Revenue Adjustment to: Transient Occupancy, 400,000 Adjust revenue estimates based on final State Mandated Reimb. 130,000 estimates of accruals Subdivision, 140,000 Sales Tax (250,000) Property Taxes 600,000 Palm Desert Fac. Corp 269,000 Higher Volumes at Restaurant Housing Asset Fund 752,147 Housing Authority Payment for New Loans Fiscal Impact This resolution will allow the Director of Finance to make the budget adjustments and transfers for fiscal year 2014/15 as of June 30, 2015. Submitted by: Approval: _1;1 Cl Paul S. ibson, Finance Director n M. Wohlmuth, City Manager H:\WP51\BUDGET\SR-approp to budget 2014-15.docx RESOLUTION NO. 2015- 84 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2014-15 BUDGET AS A RESULT OF YEAR-END ADJUSTMENTS WHEREAS, as a result of a mid-year review of the budget, it is desirable to revise the 2014-15 Budget; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Desert, California, that the 2014-15 Budget is hereby revised as follows: 1. The amounts shown in the column entitled "Revised Appropriations" in the table entitled "City of Palm Desert, Year-End 2014-15 Budget Review, Revised Appropriations Operating Budget", attached hereto as Exhibit "A", are hereby appropriated to the departments, activities and projects identified therein as the Operating Budget for 2014-15. 2. The amounts shown in the column entitled "Revised Estimated Revenue" in the table entitled "City of Palm Desert, Year-End 2014-15 Budget Review, Revised Estimated Revenues", attached hereto as Exhibit "B", are hereby accepted as the Estimated Revenues for the 2014-15 Fiscal Year for each fund and revenue source. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert City Council held on this 24 day of September, 2015, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Susan Marie Weber, Mayor ATTEST: RACHELLE KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA Resolution No. 2015-84 City of Palm Desert Year-End Budget Adjustments Exhibit A Fiscal Year 2014-2015 Proposed Budget Department _ Category Adjustment(Decrease) Account Number City Council Conference/Seminars/Workshops $ 2,557 1104110-4312000 Total City Council $ 2,557 City Clerk Salaries $ 4,050 1104111-4100100 Health Benefits $ 13,500 1104111-4112100 Total City Clerk $ 17,550 Legal Special Services Legal Litigation $ (138,000) 1104121-4301500 Total Legal Services $ (138,000) Elections Prof-Other $ 3,300 1104114-4309000 Total Elections $ 3,300 City Manager Salaries $ 16,000 1104130-4100100 Health Benefits $ 10,000 1104130-4112100 Workers Compensation Premium $ 11,100 1104130-4112500 Total City Manager $ 37,100 Special Programs Salaries $ 8,000 1104132-4100100 Health Benefits $ 16,000 1104132-4112100 Prof-Other $ 19,000 1104132-4309000 Community Garden $ 7,200 1104132-4391000 Total Special Programs $ 50,200 Unemployment Unemployment Ins.State(No Budget) $ 526 1104191-4112600 Total Unemployment $ 526 Police Services Police Contract $ (310,000) 1104210-4304000 Total Police Services $ (310,000) Public Works Building Maint Repair&Maint.-Buildings $ (10,100) 1104340-4331000 Total Public Wk Building Maint. $ (10,100) Marketing Advertising Media Buys $ (210,000) 1104417-4322100 Total Marketing $ (210,000) Economic Development Prof-Other Admin. $ 1,400 1104430-4309100 Total Economic Development $ 1,400 Planning&Community Dev Workers Compensation Premium $ 22,000 1104470-4112500 Total Planning&Community Dev. $ 22,000 Resolution No. 2015-84 Civic Center Park Repair and Maintenance Park $ 2,000 1104610-4332000 Total Civic Center Park $ 2,000 Landscaping Employee Safety $ 68,000 1104614-4391500 Repair/Maint.Other Equipment $ 76,000 1104614-4337000 Total Landscaping $ 144,000 Capital Outlay Capital Outlay $ 150,936 1104950-4400100 Interfund Transfers Out Transfer fm GF to Equipment Repl. $ 1,000,000 1104199-4501000 Transfer fm GG to Presidents Plaza I $ 20,000 1104199-4501000 Transfer fm GF to Builidng Maint. $ 500,000 1104199-4501000 Transfer fm GF to Retiree Health $ 1,000,000 1104199-4501000 Total Interfund Transfers Out $ 2,520,000 Total General Fund Appropriations $ 2,283,469 Estimated Total General Fund Expenditures=48,000,000- (includes adding $2.5 Million Transfers Out) Resolution No. 2015-84 ADDED-ALL OTHER FUNDS Public Safety Police Grants(229) Police Services Grants $ 26,000 2294210-4391900 Total Public Safety Police Grants(229) $ 26,000 Prop.A Fire Tax Fund Fire Services $ 359,000 2304220-4304500 Total Prop.A Fire Tax Fund $ 359,000 Energy Independence Loan Called Principal/Payoff of Wells Fargo $ 4,609,000 2374511-4364600 Total Energy Loan Fund $ 4,609,000 Air Quality Mgmt AB2766 Street Repair/Maint(Sand Blowing) $ 153,000 2384310-4309000 Total Air Quality Mgmt. $ 153,000 Retiree Health Fund Health Insurance $ 50,460 5764195-4112100 Total Retiree Health Fund $ 50,460 Landscape and Lighting District Administration $ 46,000 2774373-4309000 District Administration $ 20,000 2764374-4309000 District Administration $ 1,000 2724374-4309000 District Administration $ 2,000 2824373-4309000 Total Landscape and Lighting $ 69,000 Assessment Dist-Bighorn Bond Call $ 3,600 3114676-4309000 Total Assessment Dist Bighorn $ 3,600 CFD Universtiy Park Prof.-Bond Call $ 23,000 3534394-4309000 Total CFD Univ.Park $ 23,000 Art in Public Places Workers Compensation $ 9,900 4364650-4112500 Total AIPP $ 9,900 Building Maint Fund Repair and Maint.Buildings $ 1,900 4504161-4331000 Total Building Maint.Fund $ 1,900 Desert Willow Administration $ 45,000 5204195-4803700 Total Desert Willow $ 45,000 Palm Desert Recreational Facility Food and Beverage Expense $ 269,000 521-4195-495-8035 Total PD Recreational Facility $ 269,000 Resolution No. 2015-84 City of Palm Desert Year-End Budget Adjustments Exhibit B Fiscal Year 2014-2015 Proposed Revenue Adjustments: Revenue Adjustment Transient Occupancy Tax(Includes Short Term) $ 400,000 1100000-3183800 Property Taxes-No Low $ 500,000 1100000-3111005 Unsecured Taxes $ 100,000 1100000-3111110 State Mandated Costs Reimbursement(2003) $ 130,000 1100000-3344600 Subdivision $ 140,000 1100000-3411200 Sales Tax $ (250,000) 1100000-3133000 Total General Fund Revenue Adjustments: $ 1,020,000 Estimated Total General Fund Revenue=51,592,000 vs Original-48,672,500 OTHER FUNDS: Building Maintenance Transfers In(From General Fund) $ 500,000 450-0000-391-0000 Total Building Maintenance $ 500,000 Equipment Replacement(530) Transfers In(From General Fund) $ 1,000,000 530-0000-391-0000 Total Equipment Replacement $ 1,000,000 Compensation Payable/Retiree Health Fund(576) Transfers In(From General Fund) $ 1,000,000 576-0000-391-0000 Total Retiree Health Revenue $ 1,000,000 G:\Finance\Niamh Ortega\Staff Reports\Budget&White papers RESOLUTION NO. HA- 77 A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY BOARD, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2014-15 BUDGET AS A RESULT OF YEAR-END ADJUSTMENTS WHEREAS, as a result of a mid-year review of the budget, it is desirable to revise the 2014-15 Budget; NOW, THEREFORE, BE IT RESOLVED by the Palm Desert Housing Authority Board, Palm Desert, California, that the 2014-15 Budget is hereby revised as follows: 1. The amounts shown in the column entitled "Revised Appropriations" in the table entitled "Palm Desert Housing Authority, Year-End 2014-15 Budget Review, Revised Appropriations Operating Budget", attached hereto as Exhibit "A", are hereby appropriated to the departments, activities and projects identified therein as the Operating Budget for 2014-15. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Housing Authority held on this 24 day of September, 2015, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Susan Marie Weber, Mayor ATTEST: RACHELLE KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA Resolution No. HA-77 Palm Desert Housing Authority Year-End Budget Adjustments Exhibit A Fiscal Year 2014-2015 Proposed Budget Department Category Adjustment Account Number Housing Asset Fund(873) Acquisition/Resale Home $ 752,147 873-4492-464-4001 Total Housing Asset Fund $ 752,147