HomeMy WebLinkAbout3A--City of Redding mid-year budget review and associated Resolution
CITY OF REDDING
REPORT TO THE CITY COUNCIL
MEETING DATE: February 16, 2023 FROM:
Greg Robinett, Director of
ITEM NO. 3A
Finance/City Treasurer
***APPROVED BY***
grobinett@cityofredding.org btippin@cityofredding.org
SUBJECT: 3A--Consider City of Redding mid-year budget review and associated Resolution.
Recommendation
Accept the Fiscal Year 2022-23 Mid-Year Budget Report for the City of Redding; and Adopt
st
Resolution approving and adopting the 81Amendment to City Budget Resolution No. 2021-
078 appropriating $10,333,320.
Fiscal Impact
The recommended changes to the General Fund will meet the City Council (Council) directive to
maintain a ten percent reserve in the General Fund. The other recommended changes will not
reduce reserve levels below those required in the respective funds.
Alternative Action
The Council could choose to reject the report and request additional information.
Background/Analysis
The City of Redding (City) has expended $58,769,174 from the General Fund through December
31, 2022. This level of expenditure represents 45.2 percent of total appropriations, and is
2022. Below is a chart summarizing the changes to expenditures to the General Fund. The
attached report provides more details on each requested item by department.
R---2
General Fund revenue as of December 31, 2022, totals $38,549,385 which is $2,729,639 or 7.6
variations in revenues received, staff is not recommending any changes at this time. Staff will
recommend changes to the long-term assumptions during the next biennial budget development
process. See the attached report for a full breakdown of the performance of major revenue
categories in the General Fund.
General Fund Reserves
After completion of the annual audit, staff is recommending a change to the cash balance as of
July 1, 2022. Staff is recommending an increase of $7.2 million for a total of $23 million for the
beginning cash for Fiscal Year 2022-23.
Through December 31, 2022, the General Fund Cash Balance was $18,852,820, or an 18.7
percent cash reserve as measured by the Council Policy.
As a result of all recommended changes included in the attached budget resolution, and detailed
in the attached report, the General Fund cash reserves will still maintain the 10 percent reserve as
required by the Council Policy. The projected cash at June 30, 2023, would result in a 22.6
percent reserve and would finish Fiscal Year 2026-27 with a projected 16.7 percent reserve. As
the next ten-year plan is developed, it is expected that this projected reserve will drop with
reduced expectations of revenue.
General Fund Overtime
The CityGeneral Fund overtime expense totals $3,288,551 through December 31, 2022. This
The expenditures year-to-date compared to the year-to-date budget are listed below, of which,
the four largest overtime budgets are Fire, Police, Parks, and Streets:
The Fire Department had overtime expenses through December 31, 2022, of $2,147,417
compared to a total overtime budget of $1,164,235;
The Police Department had overtime expenses through December 31, 2022, of
$1,055,469 compared to a total overtime budget of $736,500;
The Community Services Department had overtime expenses through December 31,
2022, of $42,469 compared to a total overtime budget of $3,500.
The Public Works Department had overtime expenses through December 31, 2022, of
$32,919 compared to a total overtime budget of $35,000; and
All other General Fund Departments had overtime expenses through December 31, 2022,
R---3
of $10,277 compared to an overtime budget of $4,825.
Although some of the aforementioned expenses are either over budget or nearly over budget,
there are no additional budget requests at this time. Each department has adequate savings in
areas such as personnel charges and/or additional cross charges to other City departments, to
offset the excess costs.
Other Funds Budget Requests & Allocation Changes
The attached report provides a full breakdown of budget requests. The charts below provide an
overview of staff recommended changes.
Environmental Review
This is not a project defined under the California Environmental Quality Act, and no further
action is required.
Council Priority/City Manager Goals
Budget and Financial Management -Year Financial
Communication and Transparency
public and City employees to enhance knowledge and increase transparency to improve
R---4
Attachments
^Resolution
Mid-Year Budget Update including Charts and graphs for FY 22-23
EXR214CITYOFREDDING13:10:071/09/2023
FinanceDepartmentMONTHOFDEC.2022
ACTUALEXPENDITURESCOMPAREDTOCASHFLOWESTIMATESPAGE1
GENERALFUND-----------------CurrentMonth------------------------------------YeartoDate------------------
MonthlyOverYTDOver
____________________________________________________________________________ProjectionActual(Under)%ProjectionActual(Under)%
CITYCOUNCIL12,98414,1161,132108.781,00593,75312,748115.7
CITYCLERK92,38463,817(28,567)69.0451,747443,839(7,908)98.2
CITYMANAGER70,87776,3395,462107.7457,474539,09181,617117.8
CITYTREASURER57,04947,765(9,284)83.7347,258306,032(41,226)88.1
CITYATTORNEY21,63727,5195,882127.1149,926213,24163,315142.2
CODEENFORCEMENT114,79952,634(62,165)45.8462,131312,883(149,248)67.7
FINANCEANDACCOUNTING138,719143,8355,116103.6821,809978,462156,653119.0
NONDEPARTMENTAL3,182,99391,163(3,091,830)2.85,063,7302,959,493(2,104,237)58.4
PURCHASING49,76246,761(3,001)93.9309,455301,755(7,700)97.5
PERSONNEL47,72752,1054,378109.1301,494338,41736,923112.2
PERMITCENTER62,46249,234(13,228)78.8380,052418,73638,684110.1
BUILDING&CODEENFORCEMENT220,226176,103(44,123)79.91,214,4161,070,031(144,385)88.1
PLANNING390,474249,909(140,565)64.01,155,710990,812(164,898)85.7
POLICE-ADMINISTRATION268,584316,16047,576117.71,670,5101,864,759194,249111.6
POLICE-FIELDOPERATIONS3,643,6422,526,327(1,117,315)69.314,202,40813,911,426(290,982)97.9
POLICE-INVESTIGATIONS401,233560,569159,336139.72,493,9302,960,491466,561118.7
POLICE-SERVICESDIVISION363,228603,064239,836166.02,416,1902,532,848116,658104.8
POLICEINFORMATIONTECHNOLOGYSTAFF(7,606)109,604117,210441.0(25,012)165,178190,190660.3
POLICEGRANTS110,48829,240(81,248)26.4374,955467,88592,930124.7
ANIMALREGULATION77,42280,5623,140104.0464,532483,18218,650104.0
FIRE-ADMINISTRATION164,885142,495(22,390)86.4915,820922,2376,417100.7
FIRE-SUPPRESSION1,757,8942,735,930978,036155.610,529,61012,038,7741,509,164114.3
FIRE-PREVENTION99,376102,4383,062103.0618,536750,628132,092121.3
PUBLICWORKS-ENGINEERING123,797193,53869,741156.3741,163566,517(174,646)76.4
ENGINEERINGANDDESIGN17,27742,44025,163245.6107,892314,759206,867291.7
TRANSPORTATION/ENGINEERING(3,337)3723,70911.1(11,181)19,51830,699174.5
STREETS-GENERALANDADMINISTRATIVE396,422406,3849,962102.52,427,4542,022,881(404,573)83.3
STREETS-CONSTRUCTIONCAPITALOUTLAY2,178,764(1,170,547)(3,349,311)53.75,088,3845,900,586812,202115.9
PARKS2,417,166275,846(2,141,320)11.43,880,7522,396,046(1,484,706)61.7
RECREATION259,850132,313(127,537)50.91,351,6471,193,914(157,733)88.3
COMMUNITYSERVICESADMINISTRATIVEDIVISION70,98671,329343100.4383,992388,0774,085101.0
MIDTOWNMALL34414380217.62042,1051,90131.8
GENERALFUNDDEBTSERVICE7084,4693,761631.2900,053900,818765100.0____________________________________________________________________________
Total-GeneralGovernment16,802,9068,254,247(8,548,659)49.159,728,04658,769,174(958,872)98.3
============================================================================
EXR21413:10:071/09/2023
EXR58CITYOFREDDING13:10:301/09/23
FinanceDepartmentMONTHOFDEC.2022
ACTUALEXPENDITURESCOMPAREDTOBUDGETPAGE1
GENERALFUND
BudgetPriorYearCurrentYear-to-DateEncumbrancesUnencumbered%
_____________________________________________________________________________________________AsAmendedAppropriationsExpendituresExpendituresOutstandingBalanceObligated
CITYCOUNCIL179,630.00-14,115.5793,753.03-85,876.9752.1
CITYCLERK916,290.0052,320.0063,817.00443,839.43805.66523,964.9145.9
CITYMANAGER958,000.00770.0076,338.82539,091.42-419,678.5856.2
CITYTREASURER707,380.002,600.0047,764.70306,031.99-403,948.0143.1
CITYATTORNEY326,760.00-27,518.73213,241.31-113,518.6965.2
CODEENFORCEMENT847,440.0096,540.0052,634.47312,883.0675.06631,021.8833.1
FINANCEANDACCOUNTING1,676,520.0038,900.00143,834.61978,461.8614,920.47722,037.6757.9
NONDEPARTMENTAL4,403,520.006,125,110.0091,162.742,959,492.67153,115.347,416,021.9929.5
PURCHASING634,090.00-46,760.60301,754.63-332,335.3747.5
PERSONNEL623,300.00-52,104.76338,417.30-284,882.7054.2
PERMITCENTER777,550.004,420.0049,233.95418,736.37-363,233.6353.5
BUILDING&CODEENFORCEMENT2,423,560.00106,870.00176,103.141,070,030.7533,916.751,426,482.5043.6
PLANNING2,089,470.00844,190.00249,909.30990,811.55233,558.241,709,290.2141.7
POLICE-ADMINISTRATION3,419,930.00120,940.00316,160.421,864,759.3088,333.391,587,777.3155.1
POLICE-FIELDOPERATIONS25,984,220.003,524,870.002,526,327.4313,911,425.91239,744.9315,357,919.1647.9
POLICE-INVESTIGATIONS5,115,330.0061,070.00560,568.522,960,490.892,923.782,212,985.3357.2
POLICE-SERVICESDIVISION4,733,100.007,060.00603,063.892,532,847.76114.872,207,197.3753.4
POLICEI/TSTAFF(22,500.00)-109,603.98165,177.70-(187,677.70)0.0
POLICEGRANTS606,050.00376,430.0029,240.21467,885.0212,540.35502,054.6348.8
ANIMALREGULATION929,070.00-80,562.18483,181.58151,853.58294,034.8468.3
FIRE-ADMINISTRATION1,835,800.0049,100.00142,495.26922,236.7230,056.02932,607.2650.5
FIRE-SUPPRESSION21,567,980.00483,970.002,735,929.8412,038,773.76733,204.289,279,971.9657.9
FIRE-PREVENTION1,280,930.0022,660.00102,437.70750,628.0898.58552,863.3457.5
P/W-ENGINEERING1,628,620.00131,610.00193,537.72566,516.9677,299.061,116,413.9836.5
ENGINEERINGANDDESIGN211,580.00350.0042,439.58314,759.472,785.64(105,615.11)149.8
TRANSPORTATION/ENGINEERING(10,550.00)-372.2919,518.00-(30,068.00)0.0
STREETS-GENERAL&ADM4,439,710.00502,590.00406,383.902,022,881.44325,724.142,593,694.4247.5
STREETS-CONSTRUCTION7,016,530.009,403,560.00(1,170,546.97)5,900,585.613,428,839.107,090,665.2956.8
PARKS1,285,740.005,246,640.00275,845.612,396,045.81642,096.033,494,238.1646.5
RECREATION2,660,390.00121,100.00132,313.021,193,914.4715,468.211,572,107.3243.4
COMMUNITYSERVICESADMINDIV.766,690.0023,350.0071,329.43388,076.6822,703.27379,260.0551.9
MIDTOWNMALL410.00-413.732,105.17-(1,695.17)513.4
GENERALFUNDDEBTSERVICE2,621,130.00-4,469.36900,818.43-1,720,311.5734.3_________________________________________________________________________________________
Total-GeneralGovernment102,633,670.0027,347,020.008,254,245.4958,769,174.136,210,176.7565,001,339.1249.9
=========================================================================================
EXR5813:10:301/09/23
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2.5%
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–
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–
24 25 26 27 28 29
23 ------
-
Assumptions
FY 23FY 24FY 25FY 26FY 27FY 28
Thereafter
FY 22
Actual
Recommended
Prior
x
a
T
s
e
l
a
$45,000,000$40,000,000$35,000,000$30,000,000$25,000,000$20,000,000
S
3.0%
7.3%3.0% 3.0%
–
–––
23 24 25
---
Assumptions
FY 22FY 23FY 24
Thereafter
Actual
Recommended
x
a
Prior
T
y
t
r
e
p
o
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$35,000,000$33,000,000$31,000,000$29,000,000$27,000,000$25,000,000$23,000,000$21,000,000$19,000,000
P
4.0%
4.0% 4.0%
(8.9%)
–
––
–
24 25
23 --
-
Assumptions
FY 23FY 24
Thereafter
FY 22
x
a
T
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c
n
a
Actual
p
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$12,000,000$10,000,000
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4.0%
4.0% 4.0%
–
––
24 25
--
Assumptions
FY 23FY 24
Thereafter
s
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Other Taxes Actual
x
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Other Taxes Recommneded
t
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$500,000
$4,000,000$3,500,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000
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2031-32
a
2030-31
m
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u
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$95,000,000 $90,000,000 $85,000,000 $80,000,000 $75,000,000 $70,000,000 $65,000,000 $60,000,000 $55,000,000 $50,000,000
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10 Year loan w/ no payments for 2 yearsApproximately $475K per year for 8 yearsInterest using historical pooled cash ratesContinue with current financial plan paymentsOne Time PayInterest
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Balance at 6/30/22 15 Year loan w/ no payments for 4 yearsApproximately $400K per year for 11 yearsInterest using historical pooled cash ratesContinue with current financial plan paymentsOne
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Total $650KTotal $500K
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