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Home My WebLink Aboutagenda.council.worksession.20141007 CITY COUNCIL WORK SESSION October 07, 2014 4:00 PM, City Council Chambers MEETING AGENDA I. Budget Work Session - Kids First Fund, Parks and Open Space Fund, Golf Fund, Housing Development Fund, Wheeler Opera House Fund 2015 Proposed Budget October 7, 2014 P1 I. Agenda for Oct. 7 •Kids First Fund (152) •Parks and Open Space Fund (100) •Golf Fund (471) •Housing Developent Fund (150) •Wheeler Opera House Fund (120) 2 P2 I. Kids First Fund •Sales Tax forecast of 4.3% Historical average growth rate •Rents / Utilities for Yellow Brick Ops. 2019 reduction included in LRP •Additional $60,000 State grant in 2015 Corresponding expenditure increase mirrors these additional resources 55% of 0.45% Sales Tax $1,532,400 Other Revenues $109,300 Rents and Utilities $211,600 Revenues = $1,532,400 3 P3 I. Kids First Fund •Base Budget Increase: 2.8% Have had some turnover in the resource teacher position, and salary range adjustments •With Supplemental Increase: 6.3% Inclusion of the additional $60,000 State grant •Including Capital: 13.7% Entrances to Yellow Brick: $150,000 Kids First Operations $470,000 Overhead / Transfers, $194,100 Kids First Contributions $915,570 Capital $150,000 Yellow Brick Operations $196,070 Expenditures = $1,925,740 4 P4 I. Kids First Fund Net Change to Fund Balance: ($72,440) $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 Kids First Fund Long Range Plan 2011-2019 Fund Balance Revenues Expenditures Reserve (12.5% of Uses) 5 P5 I. Parks and Open Space Fund •Sales Tax forecast of 4.3% Historical average growth rate 0.5% tax sunsets December 2025 •Other Revenues and Transfers Includes $15,000 for outside floor rental Additional $21,420 transfer from GF 1.0% Sales Tax $6,192,400 0.5% Sales Tax $3,096,200 Other Revenues $873,020 Transfers $383,320 Revenues = $10,544,940 6 P6 I. Parks and Open Space Fund •Base Budget Increase: 5.9% Excluding capital labor shift: 3.1% •With Supplemental Increases: 9.9% Holiday Pay for Seasonals: $10,060 Seasonals to Full Time: $184,070 Re-use Water Utilities: $12,300 Event Flooring Storage: $30,000 With Capital and Transfers : 5.6% Golf Re-use Water Utilities: $37,300 Operations $5,820,440 Supplementals $236,430 Capital Projects, $1,783,000 Capital Maintenance $415,050 Debt Service / Transfers $3,744,920 Expenditures = $11,999,840 7 P7 I. Parks and Open Space Fund Net Change to Fund Balance: ($1,454,900) $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 Parks and Open Space Fund Long Range Plan 2011-2019 Fund Balance Revenues Expenditures Reserve (12.5% of Uses) 8 P8 I. Golf Course Fund •Rounds revenue forecast up 4.6% Shift from drop-in to passholder rounds Fee increase of 3%-5% included •Pro Shop holding steady Shifting revenue with additional pass sales Contractor for lessons growing the program Transfers and Leases Includes the $37,300 for re-use water utilities Rounds Revenue $1,030,800 Pro Shop $548,200 Lease Revenue $38,110 Transfers and Other $405,300 Revenues = $2,022,410 9 P9 I. Golf Course Fund •Base Budget Decrease: (0.5%) Head Golf Pro: $20,000 reduction Temporary Labor: $32,000 reduction •With Supplementals Increases: 2.3% Holiday Pay for Seasonals: $5,600 Reuse Water Utilities: $37,300 With Capital, Debt Service, Transfers : 4.3% Fleet Replacements: $64,500 Carpeting at Clubhouse: $15,500 Course Operations $850,550 Pro Shop Operations $533,130 Capital $124,300 Overhead $187,500 Debt Services $136,100 Transfers $140,900 Expenditures = $1,972,480 10 P1 0 I. Golf Course Fund Net Change to Fund Balance: $49,930 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 Golf Fund Long Range Plan 2011-2019 Fund Balance Revenues Expenditures Reserve (12.5% of Uses) 11 P1 1 I. Housing Development Fund •Sales Tax forecast of 4.3% Historical average growth rate •Transfer tax forecast conservative 2014 as of Sept. 30: $6.1 million •Burlingame Phase II Sales All units in buildings 5, 6, and 71.0% Real Estate Transfer Tax $6,300,000 45% of 0.45% Sales Tax $1,254,000 Affordable Housing Unit Sales $7,138,990 Other Revenue $882,100 Revenues = $15,575,090 12 P1 2 I. Housing Development Fund •Base Operating Increase: (5.6%) Labor costs reduced: ($58,000) Other operating decreased: ($2,300) •Two Large Capital Items for 2015 Four Single Family Units: $3,512,000 BG Phase I Parking Expansion: $500,000 •Transfers to Other Affordable Housing Funds Drainage Improvements: $1,000,000 Burlingame Single Family Units $3,512,000 Burlingame Parking Expansion $500,000 Truscott Subsidy $1,100,000 Housing Dev. Operations $196,500 Overhead $556,600 Other Expenses $269,890 Expenditures = $6,134,990 13 P1 3 I. Housing Development Fund Net Change to Fund Balance: $9,440,100 $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 Housing Development Fund Long Range Plan 2011-2019 Ending Balance Revenues Expenditures 14 P1 4 I. Wheeler Opera House Fund •Transfer tax forecast mirrors HRETT change 2014 as of Sept. 30: $3.3 million •Impact of 2nd Floor Remodel Commissions estimate lower for second year Theater rental and bar sales •Festival Tickets Reduced Singer Songwriter Festival Discontinued 0.5% Real Estate Transfer Tax $3,364,000 Rental / Lease Income $231,220 Ticket Sales / Commission, $517,800 Other Income $293,790 Revenues = $4,406,810 15 P1 5 I. Wheeler Opera House Fund •Base Budget Increase: (6.6%) Labor Costs: 2.2% Overhead Costs: 16.2% Programming: (23.5%) •With Capital and Transfers : 7.6% 2nd Floor Remodel: $3,000,000 Operating $1,532,950 Overhead $478,500 Professional Fees $923,670 Contributions $350,000 Capital $3,127,800 Expenditures = $6,412,920 16 P1 6 I. Wheeler Opera House Fund Net Change to Fund Balance: ($2,086,222) $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 Wheeler Opera House Fund Long Range Plan 2011-2019 Ending Balance Revenues Expenditures Reserve (25% of Uses) 17 P1 7 I.