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HomeMy WebLinkAbout _ 3.1---Consider Approving the Preliminary Draft GF and ISF Budgets for 25-27 � � �' � � � � � � ' � �' � � ' � ` CITY OF REDDING REPORT TO THE CITY COUNCIL MEETING DATE: May 20,2025 FROM: Barry Tippin, City Manager ITEIVI NO. 3.1 ***APPROVED BY*** btippin@cityofredding.org "S' �p�an,�`:: i�r� � �,'['�1���� btippin@cityofredding.org SUBJECT: 3.1--Consider preliminary draft General Fund and Internal Service Fund budgets for Fiscal Years endin 2026-27. Recommendation Approve the preliminary draft General Fund and Internal Service Fund budgets for Fiscal Years ending 2026 and 202'7. Fiscal Impact The presented preliminary budget forecasts revenues in excess of expenses for the General Fund in Fiscal Year Ending (FYE) 2026 and expenses slightly over revenues in FYE 2027. Minor changes in these figures are expected as refinements are made to the final budget. Alte�native Action The City Council (Council) could provide alternative direction on how to balance the budget. Backg�ound/Analysis On May 6, 2025, the Council received a presentation regarding the proposed draft General Fund (GF) and Internal Service Fund (ISF) budgets. The GF budget presented was summarized in the following table: Tablc from 5/6/25 resentation , � � � �a3�� �"` ��ik+� s �, « , � .:� ,� � u �: � �, �. „ ' �:. , �' � '":� � '''" ..� t��u ���� �,> � fi ro � r �t� *,�� �-(,� ai�m>m :.... �„ �.., �'i, . ........ �. ..�..x.uz'ua..�{wn�tt� � , ts�.°��r�',��&��at.ta+�t�tt�+���aa�n'� ��iS�uv�:u�e,�^���ea�tr��a'"z�re��:r� .: .. . ..... � ..�p, , � _...... .,:;.� ..,. „ . ..;..... " � �:: ' • ffi�.d#'� $:�:� ` 8# 6�. $:.:m � # �:�8 8.�.. :� 4 $�:� ....., � .,.,. ...... . , .,. . p..... + :� .,.,,, , . ,f , . ..�i �.. , ...., . .. ,,, .;.. -.. .. . ,.,, d . . ,.. ,a . i � ,o��,�. � .,;:�. t��: w , (� 4. � �d.Y= 4�� 4 �#��� d k. #S � Y #:�. W �� ��:$�. r.„ vp�� �ui�� � ���� � µ . � �, , !i � ;�4; � o. k'� t �.��. ° 4::� � �.� .<,e �•:; � �#°: d :# R ��. Report to Redding City Council May 19,Z025 Re: 3.1---ConsiderApproving the Preliminary Draft GF and ISF Budgets for 25-2� Page 2 As shown, this proposed budget resulted in revenues exceeding expenditures by approximately $2 million in the first year and $200,000 in the second year of the budget. After considerable discussion, the Council directed staff to reduce revenue projections for sales tax by one-half of one percent in each of the FYE 2026 and 2027. The resulting budget is summarized in the following table: �Y � � � � � � � ; t k m � � ; a � 4, � �'�+ �s� � ���,. ���� x,, � �. c�s� a � �',' i ' � x } t, ., � _.V?�k� �� r. '� 3�„ , ��o su � ,,,.. a�.l?�A � �4�,tr �,'�Y���ht��St . ',t�8,�: '� :3 . ��� m �� .Q��':. ���.�. e . . :� � �:,; ,�.° ' �.�.�� � ��. .�.�`�.. �` � �:; .a i, �� @ .p �,,a � �, , . . � i.. ,, � � 1 � � s � Po�,m d s.' a '�8$ d ' i � �i �' �s �r�me' ,�� � # F a' 6 �#� .. s m e � � a �, �,, �yi ,.�. �, �o, � � y � :. � �r���� 1�� � �; 3��" �t �"� ���'�i !��� ° ��� ��Y 9'�, *,;�'F 9 4�I The change in revenue assumptions results in a surplus in year one of the budget of$1.9 million and a surplus of $61,000 in year two. In order to achieve these results some General Fund capital expenses were reduced and it is assumed that four officer positions will be eliminated through attrition due to the elimination of American Rescue Plan Act funding in December 2026. The Council also requested that the ten-year plan be presented in order for the Council to consider the future years projected reserve amounts should the budget as presented ultimately be approved. The ten-year plan is attached and the projected reserves for the first six years is shown below. It should be noted that the reserve amounts are based on the projected reserve cash available at the end of the current year and deviations from that are likely based on expenditures in the next month, the new financial system projection process and fmal revenues. It should also be noted that the bud�et only covers years 2025-26 and 2026-27 and the future years in the ten- year plan will change with any modifications to revenues and expenditures in the budgeted years. As can be seen the reserves are projected to be below ten percent in the second through sixth year of the ten-year plan and then it returns to ten percent or higher. In the out years, staff has forced the number to ten percent through assumed cost increases. Projectiv��s tosva�xcl Cc��i3�ci1 t�l�jectives Ending C'"�sh as Per�centage of Et��enclitii�•e.� io.11 9.8°t'o t�.�r°'o g,t�°i'u 8.8�, g.o1 Whi1e the ten-year plan is a good tool to forecast future fiscal conditions, it should not be construed to represent future budgets as those will be developed biennially considering all of the changes that occur over the two-year budget period. Whi1e the goal is always to have reserves projected to be more than ten percent in the future years, the reality is there are time when this may not be accomplished due to various financial conditions. The Council is advised to consider carefully the service levels provided in the budget years while determining any actions to correct future years where the reserve is less than ten percent. In other words, the Council should consider whether or not a reduction in current service levels, or an increase in risk liability, is a prudent decision to alter a future condition based on speculative information. Report to Redding City Council May 19,Z025 Re: 3.1---ConsiderApproving the Preliminary Draft GF and ISF Budgets for 25-2� Page 3 As shown, the reduction in the revenue in the first two years has created a need for some additional expense reduction to balance. It is likely that additional expenses will be adjusted as the final budget takes shape. However, should the Council wish to make modifications to the proposed draft budget there are a few things to keep in mind: • The percent reserves is different than cash as it will fluctuate based on expense and could be a higher or lower cash number dependent on various factors such as grants and other items included in expense. • Operations/Maintenance and Capital Budgets have been reduced to marginally acceptable limits already. More reductions could bring significant risk and/or unanticipated facility failures. • The ten-year plan assumes a reduction of an additional four police officers in 2027 due to grant reductions. Obviously, other changes (more grants or higher/lower revenues), will impact this future decision and should be dealt with in future budget discussions. • City of Redding (City) staff contacted labor units that are in current contracts and have impact on the General Fund. Staff inquired whether or not they were interested in negotiating concessions to assist with the budget difficulties. The respectful response from all units was consistent that they were not interested at this time. • There is an assumed increase in certain revenues for services provided by the City. These increases will only be realized should the Council approve the increased fees which will be presented to the Council in June at a public hearing. • In addition to the much discussed eight Police Officer and 12 Firefighter positions, seven more positions have been eliminated as well as $100,000 in temporary help for parks maintenance and$100,000 in funding far cadets in the Police Department; • Reductions in the Fire Department would be restricted to Administration and Prevention Divisions which would limit and reduce inspections, arson investigations, development plan check review, training, further reduction in administrative duties, and other functions; • Further reductions in the Police Department would be to non-sworn positions and would impact officer efficiency and productivity; • Should additional officer positions be returned to the budget the cost of each officer is approximately$180,500 per year when including the salary, benefits and equipment; • Other General Fund employees have lessor costs and they charge to other departments. As an example, the position that has been eliminated from Communications & 1Vlarketing costs, in total, $110,000 but the cost to the General Fund is �46,200 as only 42 percent of the cost is attributable to the General Fund. Therefore, you would need a reduction of three and one-half of these positions to retain one police officer position; and • Similarly, for the positions in Parks Maintenance Division that charge directly to the General Fund, the all-in cost is estimated at $90,000 reguiring two of these positions to be reduced to retain one officer. And for context, this group performs landscape maintenance at all City- owned buildings and facilities, maintenance of approximately 480 acres of community and neighborhood parks, 38 miles of trails, pool and equipment maintenance at the Redding Aquatic Center, Fantasy Fountain and seven commercial fountains, 24,000 street trees and 65,000 open space and park trees, 38 playgrounds, 800 acres of natural open space, 18 special purpose sites, and landscape design support to the Planning and Engineering Divisions, landscape maintenance support to Redding Electric Utility, Housing, Public Works, and more. Report to Redding City Council May 19,Z025 Re: 3.1---ConsiderApproving the Preliminary Draft GF and ISF Budgets for 25-2� Page 4 Tn conclusion, the preliminary General Fund Biennial Budget has been difficult to develop, not only because of the added expenses in 2022 and 2023 but because of the sluggish economy and the uncertain future resulting in conservative and uncertain revenue projections. However, staff absolutely has the ability to navigate the future and monitor and adjust the budget, as needed, with Council approval. The massive reductions during the Great Recession and the pension crisis of 2017 were strategically navigated and managed by staf£ Those periods of time exemp]ify, firsthand, that City staff have the ability to adjust budgets when needed and the fortitude to do it,rapidly if necessary. It is recommended that the City Council approve the preliminary draft General Fund and Internal Service budgets as recommended. Envi�^onmental Review This item is not a project as defined under the California Environmental Quality Act, and no further action is required. Council P�iority/City ManageN Goals • Budget and Financial Management — "Achieve balanced and stable 10-year Financial Plans for all funds." Attachments ^Budget Workshop 050625 Handouts ^Ten Year Plan 25-26 & 26-27 5.20.25 Draft • • �# ! • 4 O O 0 � 4� 3w � � �} � �� Y� Y �: �� � V�I' � � � Q. � � �. i'3, `G� � ci��. .-�. C O. �. O �. 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W . � £! � � t, p` '..� 4:: ��... �., �;. , ..�, r . 3 �d � �. t -��.... �� �-+ � i �e. . x k�' .<1 � �m `�, � � W ?^o-, (7� � :° tix K y s„ ✓ � �. ��r � ��,. u� a � � �. � � 3 �`,,� � � City of Redding General Fund Ten Year Plan (in thousands) Fiscal Year Ending 2026 &2027 Fiscal Year Adopted Adopted 2025-26 ao26-a� 2o2�-a8 Zoa8-29 2029-30 2ogo-31 Beginning Cash Balance 9,00o io,86g io,g2g io,565 io,552 io,624 Revenues l01,505 103,435 105,�03 1o8,8go 112,180 115,574 Net Transfers 7>992 8,044 8,286 8,534 8,790 9,054 Total Revenues 109,497 111,479 i13,g88 11�,424 12o,g�o 124,628 Personnel Costs (�6,482) (80,286) (81,908) (84,025) (86,521) (88,747) Operating Costs ��5>175) �25>753) �26�526) C�7,335) �z8�156) �29,oi4) CapitalOutlay �5,959) (6,io4) (6,28�) (6,476) (6,6�0) (6,8�0) Debt Service (1,965) (1,3i8) C1>314) (1,3r3) (1,310) (r>3o9) Savings 1,953 2,042 1,682 1,�i3 1,759 1,808 Net Expenditures (ro�,628) (11r,418) (1r4,353) (117>437) (12o,89g) (124>l32) Ending Cash Balance 10,869 10,929 10,565 10,552 10,624 r1,12o Projections toward Council Objectives Ending Cash as Percentage of Expenditures io.l% 9•g� 9•2� 9•0� g•g� 9•0� Projected Personnel Percentage 69.8% �0.8% �0.6% �0.5% �0.5% �0.5% City of Redding General Fund Ten Year Plan (in thousands) Fiscal Year Ending 2026 &2027 Fiscal Year 2031-32 2032-33 2033-34 2034-35 2035-36 Projected Cash Balance 11,120 12,660 13,218 13,563 i4,008 Projected Revenues 119,o�g i22,�o5 126,434 130�279 134�245 Projected Net Transfers 9,326 9>605 9,894 10,190 10,496 Total Projected Revenues 128,405 i32,3io 136,328 i4o�469 144>741 Projected Personnel Costs (90,512) (92,218) �93�472) �94�974) (96,511) Projected Operating Costs (29>824) �32>886) �35,924) �38>491) (41,08�) Projected Operating Costs (�,0�6) (�,289) �7,507) �7,732) �7,964) Projected Debt Service (r,311) (1,315) (1,132) (966) (g63) Projected Savings 1,85g 1,955 2>052 2,140 2,230 Net Projected Expenditures (r26,865) �131>752) �135>983) �l4o,O23) C144,295) Projected Ending Cash 12,660 13,218 13,563 14,008 14>455 Projections toward Council Objectives Ending Cash as Percentage of Expenditures io.o% io.o% io.o% io.o% io.o% Projected Personnei Percentage �0.3% 69.0% 6�.�% 66.8% 65•9�