The URL can be used to link to this page

CC SR 20170606 04 - 2018 5-yr. Model DraftRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 06/06/2017 AGENDA REPORT AGENDA HEADING: Regular Business AGENDA DESCRIPTION: Consideration and possible action to review and file the draft 2018 Five -Year Financial Model (2018 Model). RECOMMENDED ACTION: (1) Receive and file the draft 2018 Five -Year Financial Model (2018 Model). FISCAL IMPACT: None Amount Budgeted: N/A Additional Appropriation: N/A Account Number(s): N/A ORIGINATED BY: Allan Kaufman, Senior Administrative Analyst REVIEWED BY: Deborah Cullen, Director of Finance APPROVED BY: Doug Willmore, City Manager:' '4` ` ATTACHED SUPPORTING DOCUMENTS: A. 2018 Draft Five -Year Financial Model (page A-1) BACKGROUND AND DISCUSSION: The 2018 Draft Five -Year Financial Model (Model) is a financial schedule prepared by the Finance Department (Exhibits A through E) as required by City Council Policy. The 2018 Model includes all funds and its component unit, the Rancho Palos Verdes Improvement Authority. In FY 16-17, the City contracted with Government Finance Research Group to develop a more user-friendly and robust financial model, enabling Staff to perform advanced analytics and "what -if" scenarios in real-time to generate more accurate forecasting results. It is important to note that a financial model is ever-changing with numerous assumptions and estimates built into it. With that, future economic activity, legislation and policy decisions, as well as any other unforeseen circumstances could affect the City's revenue stream and expenditures during any of the years presented in the 2018 Model. The information contained in the draft 2018 Model is based on the preliminary budget presented to Council on May 16th and decisions made by the City Council during its Preliminary Budget deliberation. The draft 2018 Model reports the following financial information: 1 ► FY14-15 and FY15-16 actuals and ending fund balances for all funds; ► FY16-17 year-end estimated revenue, expenditures and encumbrances, and ending fund balances for all funds as of May 16, 2017; ► FY17-18 preliminary budget (Economic Assumptions described below); ► FY17-18 thru FY21-22 projected revenues, expenditures and fund balances for all funds. The draft 2018 Model includes the segregation of funds as follows: ► General Fund — The General Fund balance is separated by the 50% reserve policy and the unrestricted balance. ► Funds restricted by action of the City Council — The balances of these funds are restricted by City Council action for specific purpose. The funds were initiated with transfers from the General Fund. These funds may be transferred back to General Fund or used for other purposes (e.g. infrastructure projects) upon the action of the City Council. ► Funds restricted by law or external agencies — The balances of these funds are restricted by law or external agencies, such as the Federal Government, State of California, or Los Angeles County. These monies can only be used for the purpose outlined by the terms and conditions set by legislation and voter ballot measures. The 2018 Model includes several schedules organized as follows: Exhibit A One Page Fund Summary Exhibit B Assumptions applied into the Model Exhibit C Summary of the City's three (3) major funds - General, Gas Tax, and Capital Exhibit D Five -Year Fund Balance projection by Fund General Fund The draft 2018 Model indicates that the General Fund will continue to maintain the policy reserve of 50% of operating expenditures with the City Council direction to reduce the Terranea TOT to the Capital Improvement Fund by the same amount of increase in Public Safety Contract beginning in FY17-18. The City Council also directed Staff to bring back a cost allocation plan in the fall to properly allocated staff time and resources to various projects and funds once the new HR/Payroll programs are fully implemented. 2 General Fund Revenues and Expenditures 5 -Year Projection 40.0 35.0 30.0 c 25.0 20.0 15.0 10.0 5.0 0.0 FY17-18 FY18-19 FY19-20 FY20-21 FY21-22 Revenues 30.2 31.5 32.6 33.6 34.6 Expenditures 25.6 26.7 27.4 28.1 28.7 Revenues Expenditures 1972 Act Fund On May 1611, the City Council decided to suspend the annual supplemental property tax levy and assessments of the Citywide Landscaping and Lighting Maintenance District (LLMD) for FY17-18. Total estimated expenditures for the operation, maintenance, and servicing of median landscaping, street trees, street lighting, and traffic signals for FY17-18 are $696,762. Since the City will not receive the annual assessment of approximately $259,200, Staff is recommending these costs be funded from the new Measure M Fund. Water Quality/Flood Protection Fund The Water Quality/Flood Protection Fund is expected to have a zero beginning fund balance in FY17-18 if Council approves the Storm Deficiency Improvement Project by June 30, 2017. This fund is expected to be fully spent by the end of FY17-18. Gas Tax Fund The Gas Tax Fund will receive a new gas tax revenue effective November 2017. This new revenue source is expected to bring in an additional $273,000 in FY17-18. And in subsequent years, the additional revenue is estimated to be $700,000 annually. These funds are restricted and can only be used for established uses based on the State guidelines. 9 Caaital Improvements Proiect Fund The draft 2018 Model indicates that the CIP Reserve will maintain a Fund Balance between $22.3 million to $28.8 million as shown in the graph below. These amounts assume a General Fund transfer in of $4.5 million annually is performed in all five (5) years of the model. Staff presented the draft 5 -yr. Capital Improvement Plan (CIP), as part of the preliminary budget on May 16th, where $33.6 million in infrastructure projects and related funding were identified. However, with Water Flood Protection Fund spending all of its fund balance by June 30, 2018, the revised CIP plan is reduced to $26.2 million. Below is a summary of these infrastructure costs by type over the next five years. El CIP 5 -Year Projection CIP Project Expenditures and Fund Balance 35.0 30.0 25.0 Ln 0 20.0 15.0 10.0 5.0 0.0 FY17-18 FY18-19 FY19-20 FY20-21 FY21-22 Fund Balance 24.2 22.3 24.3 25.7 28.8 Capital Fund Expenditures 5.8 7.0 3.2 3.7 2.1 Fund Balance Capital Fund Expenditures Staff presented the draft 5 -yr. Capital Improvement Plan (CIP), as part of the preliminary budget on May 16th, where $33.6 million in infrastructure projects and related funding were identified. However, with Water Flood Protection Fund spending all of its fund balance by June 30, 2018, the revised CIP plan is reduced to $26.2 million. Below is a summary of these infrastructure costs by type over the next five years. El All Capital Funds Infrastructure Category FY17-18 FY18-19 FY19-20 FY20-21 FY21-22 Administration / Engineering $0.1 $0.2 $0.1 $0.1 $0.1 Streets 7.6 5.4 0.6 1.9 0.4 Parks & Trails 0.7 0.2 0.2 0.2 0.2 Storm Drains 0 0 0 0 0 Storm Water System 0.3 0 0 0 0 Public Buildings 1.1 0.2 0.1 0.2 0.1 Landslide 0.7 0.6 1.6 0.7 0.7 Abalone Cove Sewer System 0.2 0.3 0.5 0.4 0.5 TOTAL $10.8 $6.9 $3.1 $3.5 $2.0 For FY17-18, Staff has proposed $8.7 million in new City infrastructure projects and $2.1 million in continuing appropriation. The funding identified include the following: Restricted funding sources (grants, apportionments, and developer fees) of approximately $6.2 million; and General Fund revenue of approximately $5.7 million (for Terranea Transient Occupancy Tax only). This amount was adjusted in the final 5 -year model based on City Council direction on May 16tH Summary of Citv's infrastructure needs: ► Abalone Cove sewer rehabilitation totaling $1.9 million over the next five years; ► Landslide mitigation totaling approximately $4.3million over the next five years. Of this amount, $740,000 appropriation is being proposed for FY17-18; ► Residential street rehabilitation totaling $6.0 million over the next five years; ► Arterial street rehabilitation totaling $10.0 million over the next five years; ► Storm water quality compliance projects are expected to total approximately $0.3 million over the next five years; ► Park and trail improvement projects totaling over $1.5million over the next five years with the majority of funding going toward the Coastal Bluff Fence Replacement project; �� ► City -owned facility rehabilitation (minimum estimates totaling $1.7 million for Citywide ADA Program, Ladera Linda Master Plan, and PVIC Sunset Room Acoustical improvements). The City will continue the practice of re -budgeting capital projects that have not been encumbered rather than automatically continuing appropriations year -over -year. This enables the City Council to review and access projects annually and determine if priorities or funding has changed. All budgeted capital appropriations, including the amounts requested to be committed in the "FY2017E" column in Exhibit E of the Model. Therefore, in years 1 through 5 of the Model, estimated beginning fund balances were already reduced by the proposed project funds to be expended and committed. ASSUMPTIONS The Model is a forecasting tool that looks five (5) years out. As a result, it requires several revenue and expenditure assumptions be made and how these assumptions will impact the City's fund balances and determine its financial health over the next few years. The following assumptions were developed in preparation of the 2018 Model. Economic Assumptions (Grouped by Revenues then Expenditures REVENUES The City's property assessments are expected to see a 3.5% increase in FY17- 18. Property Tax is not only one of the City's most stable revenue sources, it is also the largest, making up around 40% of all General Fund revenues. Staff has assumed that property tax will grow at a rate of 3.7% annually for the remaining 4 years of the 2017 Model, based on information provided by HdL LLC., property tax consultant. 2. Transient Occupancy Tax (TOT) accounts for approximately 20.0% of the City's General Fund operating revenue. Per City Council Policy, the Terranea TOT amount is transferred to the CIP Fund each year to the extent possible to fund infrastructure improvements and to maintain a minimum $3 million reserve. However, for FY17-18 the City Council directed Staff to reduce this transfer by the same amount of increase in the Public Safety contract. The City receives most of its TOT revenue from the Terranea Resort, which opened in 2009. Terranea continues to sustain its strong business momentum by reinvesting $40 million in capital back into the resort and spending millions of dollars on an aggressive brand -building campaign. Based on industry information, Staff is assuming a 2.4% growth rate for TOT revenue in FY17-18 over FY16-17 year- end estimates. Al • 3. Sales tax revenue is expected to grow on average by 5.4% annually over the five year period outlined in the Model. This forecast is based upon information from MuniServices LLC, and highlights the strong growth in food service and restaurant receipts contributing to much of the future growth. 4. Permit fees are based on City's staff fully burdened hourly rate multiplied by the estimated time to provide the service, as the law requires that permit fees cannot exceed the City's cost. Although Staff expects that another cost based fee study will be completed during the next five years, Staff cannot predict the impact of that study or the resulting City Council action to set fee rates. Therefore, Staff has not included any assumed increases in permit fee rates for the 2018 Model. Permit revenue is also based on the volume of development activity in the City. Based upon the fact that the City is mostly built out and permit activity levels are unpredictable, Staff has not included any assumed increases or decreases in permit activity for the 2018 Model. 5. About 50% of the City's cash is invested with the state's Local Agency Investment Fund (LAIF), which is an actively managed portfolio. LAIF investment earnings rate have averaged 82 basis points (0.82%) year to date in FY16-17. Staff feels this is a conservative estimate and used this average for the model but will continue to monitor and update as needed. In addition to LAIF, the City began investing about 35% of its idle cash in Certificate of Deposits (CDs) in FY15-16 with various financial institutions through an agreement with Vining Sparks. These CD's have yielded a return of 116 basis points (1.16%) in FY16-17. Between LAIF and these CD's, the City's total investments are expected to yield a return of 0.95% annually over the next five years assuming there are no major changes in the economy. If investment returns are forecasted to change by a material amount in the future, Staff will update the Model accordingly. 6. Utility User Tax (UUT) is sensitive to many factors such as weather conditions, utility consumption and rate increases, which cannot be predicted over the long- term with any accuracy. Staff has assumed that UUT will increase by the CPI. Municipal Code Section 3.30.190 requires that the City Manager submit to the City Council an analysis of the revenues derived from the Utility User Tax (UUT) annually for City Council to decide if the fee is necessary. Based upon the operating and capital needs of the City, Staff recommended that the current UUT rate of 3% continue in FY17-18 and Council approved this continuation on May 16th. 7. Franchise Fees are based largely on utility, refuse, and cable service consumption along with utility rates. Staff is projecting Franchise Tax to decline slightly in FY17-18, based on FY16-17 actual remittances year to date. This tax is expected to turn around in FY18-19 and grow by CPI for this year and the 7 remaining three (3) years in the Model. Using the CPI is a conservative method of projecting these two revenue types in the future. EXPENDITURES Approximately 40% of General Fund operating expenditures are for employee compensation, salaries and benefits. Recently, a three-year tentative labor agreement was reached that will take effect July 1, 2017, if approved by the Council. Based on the terms of the agreement, the employees will receive an annual COLA with a floor of 1 % and a ceiling of 2.5% based on the CPI -U at the end of March each year. The COLA for 2017 that has been included in the model and in the FY 2017-18 budget is 2.5%. Additionally, the employees will receive annual merit increases based on performance evaluation. Staff has included an average of 3% merit adjustment for FY 2017-18. The average value of increase in the subsequent years factored for the annual COLA and merit combined is approximately 2.7%. Any changes to employee compensation beyond FY19-20 are subject to negotiation between the employee's association and the City. Therefore, the 2018 Model assumes that employee compensation for years 4 and 5 of the Model will increase only by CPI of 2.0%. 2. The City's employee pension plan includes three (3) tiers of benefits based upon local pension reform and state pension reform. CalPERS has set the employer normal cost contribution rates for FY17-18. Based upon additional information from CalPERS, the estimated employer contribution rates for the next five years are as follows: Blending the employer contribution rates for each Tier with estimated employee participation results in the following composite rates used for the 2018 Model. Composite Rate 1st Tier 2nd Tier 3rd Tier FY17-18 10.110% 7.200% 6.533% FY18-19 10.100% 7.200% 6.500% FY19-20 10.100% 7.200% 6.500% FY20-21 10.100% 7.200% 6.500% FY21-22 10.100% 7.200% 6.500% Blending the employer contribution rates for each Tier with estimated employee participation results in the following composite rates used for the 2018 Model. Composite Rate FY17-18 8.124% FY18-19 7.866% FY19-20 7.622% FY20-21 7.377% FY21-22 7.344% In addition to the normal cost contributions, the City is required to make a payment towards the unfunded liability for the Tier 1 plan; which was estimated by CalPERS to be $8.18 million at June 30, 2015. The actual FY17-18 payment is set, and payments for the following years are estimated. These payments are based on a 20 -year amortization schedule. Unfunded Liability Contribution FY17-18 $496,196 FY18-19 $616,071 FY19-20 $742,691 FY20-21 $819,431 FY21-22 $904,463 3. The Sheriff's contract continues to be the single largest expenditure in the General Fund. In FY17-18, three (3) Sheriff units dedicated to the City (two patrol and one detective) that were added to the contract at the "growth rate" in FY15- 16 will be charged at the standard rate. This rate change will see the Sheriff's contract increase by 14% in FY17-18. Furthermore, an increase in the contribution to the Liability Trust Fund from 9.5% to 10% of services is anticipated in FY17-18. For FY18-19 through FY21-22 (years 2 thru 5) of the Model, Staff has assumed a 4.0% average contract increase due mainly to the increase in the general liability contribution. Beginning with FY17-18, TOT transfers to CIP fund will be reduced by the same amount increased in Public Safety contract. 4. Aside from the Sheriff's contract and capital expenditures, Consumer Price Index (CPI) for urban consumers was applied to all non -personnel costs. In addition, if one-time expenditures were identified in a given year, they were removed in each subsequent year. Other assumptions specific to the 2018 Model Pursuant to state redevelopment dissolution law, on January 31, 2012, the Rancho Palos Verdes Redevelopment Agency (RDA) was dissolved. The City elected to serve as the Successor Agency to the former RDA. The City's General Fund loaned money to the former RDA for landslide mitigation projects and administration. As of June 30, 2017, the outstanding loan balance (including accrued interest) was $10.6 million. In FY16-17, Staff developed a County debt repayment plan that is expected to be formerly approved by the County in FY17-18. Built into the repayment plan is a condition where the City will receive a portion of available property tax increment from the Successor Agency for repayment of the City's consolidated loan. Upon approval of the repayment plan, the City expects to wind down the annual Recognized Obligation Payment Schedule (ROPS) process later in FY17-18 by submitting a "Last and Final" ROPS. Once a Last and Final ROPS is approved, the City's consolidated loan will grow to approximately $11.8 million as the interest rate will rise from the current rate of 3% to 9 4%. In addition to the higher interest rate, the approval of a Last and Final ROPS will amend the formula the Successor Agency will use to repay its City debt. When applying this new formula, the FY17-18 repayment is expected to be $223,700, of which 20% must be deposited into the City's low -moderate income housing fund. Based on the repayment schedule, Staff is expecting the City to receive the following amounts during the next five (5) years. -18 FY18-19 FY19-20 FY20-21 FY21-22 1pE:7 223,700 232,700 $242,100 $251,800 $261,900 Separately, as part of administering the Successor Agency and supporting the activities of the Oversight Board representing various taxing entities, the City receives reimbursement of administrative costs (Staff time, a share of general liability insurance, etc.). The annual reimbursement is currently estimated to be $50,000. Beginning in FY17-18, individual oversight boards will be consolidated into a single county -wide oversight board. Staff has assumed that the administrative reimbursement will no longer be available beginning in FY17-18. The General Fund provides subsidies to a number of funds, as the restricted funding sources for those activities are insufficient to provide for the current level of maintenance. A. The Improvement Authority's Portuguese Bend Fund will require an average annual General Fund subsidy of $241,500 in years 3 through 5. Interest earnings is this fund's only revenue source, which is not sufficient to cover the ongoing maintenance demands in the Portuguese Bend portion of the landslide area. B. The Improvement Authority's Abalone Cove Fund will continue to require an annual General Fund subsidy of $71,700 for all five years in the Model. The interest earnings on the $1 million non -spendable fund balance required by the Horan Agreement is not sufficient to pay for maintenance of dewatering wells in the Abalone Cove portion of the landslide area. The Horan Agreement is the 1987 settlement of a lawsuit related to the City's active landslide. C. As part of its development agreement with the City, the developer of the Subregion 1 tract (now Oceanfront Estates) was required to dedicate open space to the City and provide a $750,000 endowment for future maintenance of that open space. The estimated fund balance and interest earnings from the non -spendable endowment is not expected to cover the current level of maintenance and maintain the $750,000 endowment amount. As a result, an average annual General Fund subsidy of about $125,600 will be needed for all five years of the model. 10 Capital Spending Assumptions Staff has included projects recommended in the draft 2018 Five -Year Capital Improvement Plan to the City Council that would repair and improve the City's infrastructure over the course of the 2018 Model. City Council approves projects one year at a time with the annual budget process. Proposition A money will accumulate over the next 5 years (transit expenditures are less than the restricted revenue received). Staff is currently in the process of identifying street improvement projects to utilize this funding source. 11 CITY OF RANCHO PALOS VERDES 2018 FIVE-YEAR FINANCIAL MODEL EXHIBIT A Fund General Fund Balance Restricted Amount (Policy Reserve) GENERAL FUND Unrestricted Balance Restricted by Council Action BEAUTIFICATION FUND Fund Balance 6/30/2017 14,878,469 (12,805,138) 2,073,330 478,979 FY17-18 Estimated Resources Revenues Transfers In 30,252,800 230,000 30,252,800 230,000 2,900 - FY17-18 Estimated Appropriations Expenditures Transfers Out 25,544,400 4,772,000 25,544,400 4,772,000 475,000 - Fund Balance 6/30/2018 15,044,868 (12,772,200) 2,272,668 6,879 Fund Balance 6/30/2019 15,293,613 (13,358,564) 1,935,049 9,807 Fund Balance 6/30/2020 15,900,718 (13,703,244) 2,197,474 12,762 Fund Balance 6/30/2021 16,876,108 (14,028,966) 2,847,142 15,745 Fund Balance 6/30/2022 18,201,568 (14,362,643) 3,838,924 18,757 CIP 21,292,092 608,600 4,526,000 5,814,174 24,234,613 22,340,851 24,268,742 25,748,302 28,809,547 EQUIPMENT REPLACEMENT 2,691,463 300,900 - 1,844,300 1,148,063 1,448,963 1,749,863 2,050,763 2,351,663 BUILDING REPLACEMENT - - - - - - - - EMPLOYEE BENEFITS Subtotal Restricted by Law or External Agencies GAS TAX 53,328 24,515,862 519,186 - 912,400 1,261,200 - 4,526,000 - 8,133,474 1,599,100 53,328 25,442,883 181,286 53,328 23,852,948 359,584 53,328 26,084,695 498,661 53,328 27,868,138 548,374 53,328 31,233,295 556,957 1972 ACT 20,831 - 20,831 - - - - - EL PRADO LIGHTING 26,886 2,510 800 28,596 30,449 32,376 34,380 36,462 CDBG 117,530 139,300 139,300 117,530 117,530 117,530 117,530 117,530 1911 ACT 1,995,382 617,800 1,405,900 1,207,282 1,451,719 1,710,289 1,983,629 2,272,403 WASTE REDUCTION 378,729 209,900 282,000 306,629 237,464 161,540 79,146 (9,868) AIR QUALITY MANAGEMENT 107,560 50,600 50,000 108,160 107,566 105,748 102,679 98,326 PROPOSITION C 935,588 649,900 618,000 967,488 998,985 1,030,067 1,010,726 990,951 PROPOSITION A 2,224,860 778,100 628,300 2,374,660 2,509,410 2,628,749 2,732,306 2,819,703 PUBLIC SAFETY GRANTS 42,334 100,300 - 100,000 42,634 42,937 43,243 43,551 43,863 MEASURE R 1,574,773 493,200 650,000 - 1,417,973 1,661,274 1,904,676 2,148,181 2,391,790 HABITAT RESTORATION 1,182,392 5,000 174,300 1,013,092 839,656 661,985 479,976 293,523 SUBREGION 1 MAINTENANCE 748,548 4,800 44,800 708,548 667,518 625,434 582,268 537,995 MEASURE A 269 90,100 - - 90,000 369 470 572 675 779 ABALONE COVE SEWER DISTRICT 94,758 55,600 208,000 250,500 - 107,858 117,862 123,857 125,851 123,777 GINSBURG CULTURAL ARTS BUILDING 86,269 500 - - 86,769 87,274 87,783 88,298 88,817 DONOR RESTRICTED CONTRIBUTIONS 866,195 7,500 5,000 868,695 871,263 873,899 876,607 879,388 QUIMBY 2,081,260 65,400 650,000 1,496,660 1,563,472 1,631,729 1,701,464 1,772,714 LOW -MOD INCOME HOUSING 115,029 45,300 - 160,329 208,742 258,928 310,953 364,883 AFFORDABLE HOUSING IN LIEU 593,083 3,500 596,583 600,116 603,683 607,284 610,919 ENVIRONMENTAL EXCISE TAX 319,125 114,500 - 433,625 550,964 671,214 794,445 920,734 BIKEWAYS 82,500 82,500 82,500 82,500 165,000 247,500 330,000 412,500 WATER QUALITY/FLOOD PROTECTION 581,586 - - 581,586 581,586 581,586 581,586 581,586 IMPROV AUTH - PORTUGUESE BEND 168,352 1,800 - 114,900 55,252 (60,589) (179,236) (300,757) (425,221) IMPROV AUTH - ABALONE COVE Subtotal of Restricted Funds in Deficit Subtotal of Other Restricted Funds 1,025,007 - 15,888,032 6,700 38,000 74,600 995,107 - 13,939,211 963,480 (60,589) 14,734,322 930,084 (179,236) 15,531,135 894,876 (300,757) 16,174,784 857,811 (435,089) 16,773,411 GRAND TOTAL OF ALL FUNDS 55,282,363 31,165,200 4,756,0001 33,677,874 4,772,0001 54,426,962 53,820,295 57,337,312 60,618,274 65,773,185 Attachment A-1 CITY OF RANCHO PALOS VERDES FORECAST ASSUMPTIONS EXHIBIT B LEGEND (column headers) A = ACTUAL 2017E = FY 2016-17 YEAR-END ESTIMATE 2018B = FY 2017-18 PRELIMINARY BUDGET F = FORECASTED BUDGET Attachment A-2 FISCAL YEAR END > 2016A 2017E 20188 2019F 202OF 2021F 2022F • • • r • ' SOURCES NON -PERSONNEL EXPENDITURES CONSUMER PRICE INDEX (CPI) 2.3% 2.4% 2.4% 2.4% 2.4% PERSONNEL EXPENDITURES CITY/EMPLOYEEMOU AND CPI 2.5% 2.7% 2.7% 2.0% 2.0% CONSUMER PRICE INDEX CONGRESSIONAL BUDGET OFFICE 2.3% 2.4% 2.4% 2.4% 2.4% SALES TAX MUNISERVICES LLC (SALES AND USE TAX CONSULTANT) AND HISTORICAL ACTUALS 2,683,300 2,782,900 2,882,600 2,982,300 PROPERTY TAX -NET GF ESTIMATE HDL LLC (PROPERTY TAX CONSULTANT) AND HISTORICAL ACTUALS 7,948,464 8,242,442 8,547,142 8,862,981 PROPERTY TAX -IN LIEU OF VLF HDL LLC (PROPERTY TAX CONSULTANT) AND HISTORICAL ACTUALS 4,795,386 4,972,815 5,156,809 5,347,611 TRANSIENT OCCUPANCY TAXES HISTORICAL ACTUALS & INDUSTRY INFORMATION 6,350,000 6,650,000 6,900,000 7,125,000 GAS TAX CA DEPT. OF FINANCE 1,740,300 1,740,300 1,691,100 1,691,100 SHERIFF CONTRACT SHERIFF'S DEPARTMENT & STAFF ANALYSIS 14.0% 4.0% 4.0% 4.0% 4.0% PERMIT REVENUES HISTORICAL ACTUALS 0.0% 0.0% 0.0% 0.0% 0.0% INVESTMENT INTEREST LAIF, VINING SPARKS AND HISTORICAL ACTUALS 0.955. 0.95% 0.95% 0.95% 0.95% FRANCHISE TAXCPI, CONSUMPTIONPATTERNS, AND HISTORICAL ACTUALS 0.0% 2.4% 2.4% 2.4% 2.4% UTILITY USERS TAX CPI, CONSUMPTION PATTERNS, UTILITY RATES AND HISTORICAL ACTUALS 2.3% 2.4% 2.4% 2.4% 2.4% LEGEND (column headers) A = ACTUAL 2017E = FY 2016-17 YEAR-END ESTIMATE 2018B = FY 2017-18 PRELIMINARY BUDGET F = FORECASTED BUDGET Attachment A-2 CITY OF RANCHO PALOS VERDES EXHIBIT C FORECAST SUMMARY 101 -GENERAL FUND � REVENUES (BY ACCOUNT TYPE) 6,310,751 6,498,180 7,622,400 7,812,960 - - 597,399 846,700 01 -PROPERTY TAX -SECURED & OTHER 7,547,740 7,727,456 7,467,570 7,664,900 8,197,631 8,500,825 8,815,077 9,140,817 02 -PROPERTY TAX -TRANSFER TAX 344,357 486,659 404,255 457,400 489,191 507,284 526,036 545,475 03 -PROPERTY TAX -IN LIEU OF VLF 4,061,473 4,252,415 4,432,364 4,623,800 4,795,386 4,972,815 5,156,809 5,347,611 04 -SALES TAX 1,757,889 2,104,328 2,303,305 2,580,200 2,683,300 2,782,900 2,882,600 2,982,300 05 -TRANSIENT OCCUPANCY TAX 4,812,130 5,196,987 5,896,276 6,040,000 6,350,000 6,650,000 6,900,000 7,125,000 06 -UTILITY USERS TAX 1,972,671 1,865,682 1,818,591 1,871,100 1,916,006 1,961,991 2,009,078 2,057,296 07 -BUSINESS LICENSE TAX 808,668 811,417 829,796 814,400 834,760 855,629 877,020 898,945 08 -FRANCHISE TAX 2,044,398 2,044,650 2,158,179 2,092,200 2,142,413 2,193,831 2,246,483 2,300,398 09 -OTHER TAXES 411,362 367,881 383,000 370,400 379,660 389,152 398,880 408,852 SUBTOTAL -LOCAL TAXES 23,760,687 24,857,475 25,693,336 26,514,400 27,788,347 28,814,425 29,811,983 30,806,694 11-INTERGOVT-FEDERAL 17,025 - - - - - - - 12 -GAS TAX - - - 12-INTERGOVT-STATE 19,187 22,352 19,282 13-INTERGOVT-LOCAL - - - SUBTOTAL-INTERGOVT REVENUE 36,212 22,352 19,282 - - - - - 10 -LICENSES & PERMITS 2,514,572 2,382,743 2,293,955 2,321,100 2,321,100 2,321,100 2,321,100 2,321,100 14 -CHARGES FOR SERVICES -PW 38,122 28,014 2,800 10,700 10,968 11,242 11,523 11,811 15 -CHARGES FOR SERVICES -RECREATION 144,376 298,616 13,000 14,000 14,350 14,709 15,076 15,453 16 -FINES & FORFEITURES 135,056 179,658 110,500 113,000 115,825 118,721 121,689 124,731 17 -INTEREST EARNINGS 43,053 56,306 84,082 83,300 84,091 84,890 85,697 86,511 18 -LEASE & RENTAL INCOME 422,759 549,485 638,595 656,700 673,118 689,945 707,194 724,874 19 -DONATIONS & DEVL FEES 22,794 26,707 25,082 19,000 19,475 19,962 20,461 20,972 20 -CHARGES FOR SERVICES 187,111 174,295 205,800 205,800 205,800 205,800 205,800 205,800 21 -MISCELLANEOUS REVENUES 780,112 327,629 333,964 314,800 314,800 314,800 314,800 314,800 23 -OTHER SOURCES - - - - - - - - TOTAL REVENUES 28,084,853 28,903,281 29,420,396 30,252,800 31,547,874 32,595,594 33,615,323 34,632,746 %ANNUAL CHANGE EXPENDITURES (BY ACCOUNT TYPE) 01 -SALARY & WAGES 02 -HEALTH INSURANCE 03-FICA/MEDICARE 04 -PERS 05 -DEFERRED COMP CITY MATCH 06-H.S.A. 07-CALPERS UNFUNDED LIABILITIES 08 -WORKERS' COMP 09 -OTHER BENEFITS SUBTOTAL -PERSONNEL COSTS 10 -SHERIFF 24.7% 2.9% 1.8% 2.8% 4.3% 5,764,854 6,310,751 6,498,180 7,622,400 7,812,960 - - 597,399 846,700 867,868 1,145,003 1,167,903 - 109,400 112,135 233,029 237,689 499,416 567,600 1,095,172 383,668 40,449 - 250,400 256,660 135,884 138,601 151,706 221,800 227,345 - - 377,876 351,000 359,775 257,000 304,867 50,399 38,500 39,463 1,715,570 1,827,516 193,871 126,800 129,970 7,737,424 8,443,134 8,368,848 10,134,600 10,901,347 4,345,828 4,792,928 5,369,200 6,124,300 6,308,029 3.3% 3.1% 3.0% 8,008,284 8,168,450 8,331,819 889,564 907,355 925,503 114,938 117,237 119,582 1,122,552 1,145,003 1,167,903 263,077 268,338 273,705 233,029 237,689 242,443 368,769 376,145 383,668 40,449 41,258 42,083 133,219 135,884 138,601 11,173,881 11,397, 359 11,625,306 6,497,270 6,692,188 6,892,954 Attachment A-3 CITY OF RANCHO PALOS VERDES EXHIBIT C FORECAST SUMMARY 101 -GENERAL FUND � 11-PROF/TECH SERVICES -OTHER 2,912,133 3,299,739 4,122,221 4,349,200 4,453,581 4,560,467 4,669,918 4,781,996 12 -UTILITY SERVICES 401,401 283,480 321,100 337,900 346,010 354,314 362,817 371,525 13 -MAINTENANCE SERVICES 919,493 1,173,696 1,853,048 1,797,500 1,840,640 1,884,815 1,930,051 1,976,372 14 -OTHER SERVICES 664,539 702,718 2,634,130 923,850 946,022 968,727 991,976 1,015,784 15 -INSURANCE 396,292 589,646 685,000 807,100 826,470 846,306 866,617 887,416 16 -OPERATING SUPPLIES/ MINOR EQUIPMENT 440,227 591,564 2,011,430 743,950 761,805 780,088 798,810 817,982 17 -CAPITAL PROJECTS 71,798 72,126 - - - - - - 18-CAPITAL-EQUIPMENT/VEHICLES 3,046,887 - - 110,900 - - - - - 22-TRANSFERS-OUT-INTERFUND TOTAL EXPENDITURES, BY DEPARTMENT GROUP 8,574,614 10,352,274 4,189,750 4,772,000 4,772,000 4,772,000 4,772,000 4,772,000 24 -GRANTS TO OTHER ENTITIES 44,774 - - - - - - - 25-INTERFUND CHARGES 906,300 332,700 109,400 301,000 308,224 315,621 323,196 330,953 26 -OTHER USES - - 25,000 25,000 25,000 25,000 25,000 25,000 TOTAL EXPENDITURES, BY ACCOUNT GROUP 27,414,823 30,634,003 29,800,027 30,316,400 31,489,128 32,178,489 32,829,933 33,497,287 %ANNUAL CHANGE 2.0% 11.7% -2.7% 1.7% 3.9% 2.2% 2.0% 2.0% EXPENDITURES (BY DEPARTMENT GROUP) 01 -CITY ADMINISTRATION 4,162,498 5,135,225 4,344,830 4,685,100 4,903,878 5,023,776 5,135,306 5,249,332 02 -PUBLIC SAFETY 4,444,355 4,903,682 7,355,230 6,949,800 7,157,214 7,366,916 7,582,377 7,804,172 03 -FINANCE 1,208,680 1,243,420 1,228,366 1,407,300 1,503,823 1,541,157 1,573,049 1,605,605 04 -PUBLIC WORKS 4,063,754 3,984,821 4,766,247 5,193,900 5,425,382 5,557,745 5,682,299 5,809,666 05-PLANNING/BLDG/CODE ENF 2,951,608 2,734,385 2,972,676 3,513,100 3,745,497 3,838,243 3,918,660 4,000,773 06 -RECREATION & PARKS 1,818,846 2,042,417 2,275,897 2,693,200 2,853,436 2,924,233 2,984,926 3,046,887 07 -NON -DEPARTMENTAL 190,467 237,778 2,667,030 1,102,000 1,127,898 1,154,419 1,181,315 1,208,852 TOTAL EXPENDITURES, BY DEPARTMENT GROUP 18,840,209 20,281,730 25,610,277 25,544,400 26,717,128 27,406,489 28,057,933 28,725,287 CURRENT SURPLUS/(DEFICIT) - BEFORE TRANSFERS 9,244,644 8,621,551 3,810,120 4,708,400 4,830,745 5,189,105 5,557,390 5,907,460 %ANNUAL REVENUES & SOURCES 32.9% 29.8% 13.0% 15.6% 15.3% 15.9% 16.5% 17.1% TRANSFERS -IN 22 -TRANSFERS -IN 364,049 146,257 190,000 230,000 190,000 190,000 190,000 190,000 TRANSFERS -OUT 22-TRANSFERS-OUT-INTERFUND 8,574,614 10,352,274 4,189,750 4,772,000 4,772,000 4,772,000 4,772,000 4,772,000 TOTAL REVENUE & TRANSFERS -IN 28,448,902 29,049,538 29,610,396 30,482,800 31,737,874 32,785,594 33,805,323 34,822,746 TOTAL EXPENDITURES & TRANSFERS -OUT 27,414,823 30,634,003 29,800,027 30,316,400 31,489,128 32,178,489 32,829,933 33,497,287 TOTAL SURPLUS/(DEFICIT) 1,034,079 (1,584,466) (189,630) 166,400 248,745 607,105 975,390 1,325,460 FUND BALANCE -BEGINNING 15,618,485 16,652,564 15,068,099 14,878,468 15,044,868 15,293,613 15,900,718 16,876,108 FUND BALANCE -END 16,652,564 15,068,099 14,878,468 15,044,868 15,293,613 15,900,718 16,876,108 18,201,568 Attachment A-4 CITY OF RANCHO PALOS VERDES EXHIBIT C FORECAST SUMMARY 101 -GENERAL FUND r► LEGEND (column headers) A = ACTUAL 2017E = FY 2016-17 YEAR-END ESTIMATE 2018B = FY 2017-18 PRELIMINARY BUDGET F = FORECASTED BUDGET Attachment A-5 CITY OF RANCHO PALOS VERDES EXHIBIT C FORECAST SUMMARY 202 -GAS TAX vp REVENUES (BY ACCOUNT TYPE) 12 -GAS TAX 12-INTERGOVT-STATE SUBTOTAL-INTERGOVT REVENUE 10 -LICENSES & PERMITS 14 -CHARGES FOR SERVICES -PW 17 -INTEREST EARNINGS 21 -MISCELLANEOUS REVENUES 23 -OTHER SOURCES TOTAL REVENUES %ANNUAL CHANGE EXPENDITURES (BY ACCOUNT TYPE) 11-PROF/TECH SERVICES -OTHER 12 -UTILITY SERVICES 13 -MAINTENANCE SERVICES 16 -OPERATING SUPPLIES / MINOR EQUIPMENT 26 -OTHER USES 1,090,212 919,750 884,140 1,185,800 1,740,300 1,740,300 1,691,100 1,691,100 1,090,212 919,750 884,140 1,185,800 1,740,300 1,740,300 1,691,100 1,691,100 250 1,495 - - - - - - 2,472 5,783 8,120 8,100 8,177 8,255 8,333 8,412 25,649 27,460 18,105 67,300 67,300 67,300 67,300 67,300 1,118,583 954,488 910,365 1,261,200 1,815,777 1,815,855 1,766,733 1,766,812 -19.1% -14.7% -4.6% 38.5% 44.0% 0.0% -2.7% 0.0% 9,405 19,365 23,500 35,000 35,840 36,700 37,581 38,483 187,692 118,186 90,000 106,000 108,544 111,149 113,817 116,548 1,910,471 1,733,665 1,466,400 1,208,100 1,237,094 1,266,785 1,297,187 1,328,320 48,942 83,058 160,000 250,000 256,000 262,144 268,435 274,878 TOTAL EXPENDITURES, BY ACCOUNT GROUP 2,156,510 1,954,274 1,739,900 1,599,100 1,637,478 1,676,778 1,717,021 1,758,229 %ANNUAL CHANGE EXPENDITURES (BY DEPARTMENT GROUP) 04 -PUBLIC WORKS 3.2% 2,156,510 -9.4% 1,954,274 -11.0% 1,739,900 -8.1% 1,599,100 2.4% 1,637,478 2.4% 1,676,778 2.4% 1,717,021 2.4% 1,758,229 TOTAL EXPENDITURES, BY DEPARTMENT GROUP 2,156,510 1,954,274 1,739,900 1,599,100 1,637,478 1,676,778 1,717,021 1,758,229 (829,535) (337,900) 178,299 139,077 49,712 8,583 1,271,894 1,312,716 1,348,721 CURRENT SURPLUS/(DEFICIT) - BEFORE TRANSFERS (1,037,927) (999,786) (829,535) (337,900) 178,299 139,077 49,712 8,583 % ANNUAL REVENUES & SOURCES -92.8% -104.7% TRANSFERS -IN 22 -TRANSFERS -IN 1,078,749 1,035,791 TRANSFERS -OUT 22-TRANSFERS-OUT-INTERFUND TOTAL REVENUE & TRANSFERS -IN TOTAL EXPENDITURES & TRANSFERS -OUT TOTAL SURPLUS/(DEFICIT) FUND BALANCE -BEGINNING FUND BALANCE -END 91.1% -26.8% 9.8% 7.7% 2.8% 0.5% 2,197,332 1,990,279 910,365 1,261,200 1,815,777 1,815,855 1,766,733 1,766,812 2,156, 510 1,954,274 1,739,900 1,599,100 1,637,478 1,676,778 1,717,021 1,758,229 40,822 36,005 (829,535) (337,900) 178,299 139,077 49,712 8,583 1,271,894 1,312,716 1,348,721 519,186 181,286 359,585 498,661 548,374 1,312,716 1,348,721 519,186 181,286 359,585 498,661 548,374 556,957 Attachment A-6 LEGEND (column headers) A = ACTUAL 2017E = FY 2016-17 YEAR-END ESTIMATE 2018B = FY 2017-18 PRELIMINARY BUDGET F = FORECASTED BUDGET Attachment A-7 CITY OF RANCHO PALOS VERDES EXHIBIT C FORECAST SUMMARY 330-INFRASTRUCTUREIMPRVMNTS v REVENUES (BY ACCOUNT TYPE) 11-INTERGOVT-FEDERAL 312,272 45,866 150,000 150,000 150,000 150,000 150,000 150,000 12-INTERGOVT-STATE - - - - - - - - 13-INTE RGOVT-LOCAL - - 286,200 286,200 286,200 286,200 286,200 286,200 SUBTOTAL-INTERGOVT REVENUE 312,272 45,866 436,200 436,200 436,200 436,200 436,200 436,200 17 -INTEREST EARNINGS 36,014 87,808 172,378 172,400 174,038 175,691 177,360 179,045 TOTAL REVENUES 348,286 133,674 608,578 608,600 610,238 611,891 613,560 615,245 %ANNUAL CHANGE -79.7% -61.6% 355.3% 0.0% 0.3% 0.3% 0.3% 0.3% EXPENDITURES (BY ACCOUNT TYPE) 11-PROF/TECH SERVICES -OTHER 99,427 82,525 538,787 300,000 180,000 130,000 130,000 130,000 14 -OTHER SERVICES - 4,789 - - - - - - 17 -CAPITAL PROJECTS 8,597,182 1,257,038 8,807,700 5,514,471 6,850,000 3,080,000 3,530,000 1,950,000 22-TRANSFERS-OUT-INTERFUND 969,422 - - - - - - - 26 -OTHER USES - - - - - - - - TOTAL EXPENDITURES, BY ACCOUNT GROUP 9,666,031 1,344,353 9,346,487 5,814,471 7,030,000 3,210,000 3,660,000 2,080,000 %ANNUAL CHANGE 135.0% -86.1% 595.2% -37.8% 20.9% -54.3% 14.0% -43.2% EXPENDITURES (BY DEPARTMENT GROUP) 01 -CITY ADMINISTRATION - - - - 02 -PUBLIC SAFETY 03 -FINANCE - - - - - - - - 04 -PUBLIC WORKS 8,696,609 1,344,353 9,346,487 5,814,471 7,030,000 3,210,000 3,660,000 2,080,000 TOTAL EXPENDITURES, BY DEPARTMENT GROUP 8,696,609 1,344,353 9,346,487 5,814,471 7,030,000 3,210,000 3,660,000 2,080,000 CURRENT SURPLUS/(DEFICIT) - BEFORE TRANSFERS (8,348,323) (1,210,679) (8,737,909) (5,205,871) (6,419,762) (2,598,109) (3,046,440) (1,464,755) ANNUAL REVENUES & SOURCES -2397.0% -905.7% -1435.8% -855.4% -1052.0% -424.6% -496.5% -238.1% TRANSFERS -IN 22 -TRANSFERS -IN 11,753,919 10,471,894 3,943,750 4,526,000 4,526,000 4,526,000 4,526,000 4,526,000 TRANSFERS -OUT 22-TRANSFERS-OUT-1NTERFUND 969,422 - - - - - TOTAL REVENUE & TRANSFERS -IN 12,102,205 10,605,567 4,552,328 5,134,600 5,136,238 5,137,891 5,139,560 5,141,245 TOTAL EXPENDITURES & TRANSFERS -OUT 9,666,031 1,344,353 9,346,487 5,814,471 7,030,000 3,210,000 3,660,000 2,080,000 TOTAL SURPLUS/(DEFICIT) 2,436,174 9,261,215 (4,794,159) (679,871) (1,893,762) 1,927,891 1,479,560 3,061,245 FUND BALANCE -BEGINNING 18,011,254 20,447,428 29,708,643 24,914,484 24,234,613 22,340,851 24,268,742 25,748,302 FUND BALANCE -END 20,447,428 29,708,643 24,914,484 24,234,613 22,340,851 24,268,742 25,748,302 28,809,547 Attachment A-8 LEGEND (column headers) A = ACTUAL 2017E = FY 2016-17 YEAR-END ESTIMATE 2018B = FY 2017-18 PRELIMINARY BUDGET F = FORECASTED BUDGET Attachment A-9 CITY OF RANCHO PALOS VERDES 184,540 184,628 (11,000) (20,831) 3 -TRANSFERS -IN - - EXHIBIT D FUND SUMMARY 200,000 200,000 TRANSFERS NET (200,000) (200,000) TOTAL OVER/(UNDER) TYPE 2015A 2016A 2017E 2018B 2019F 202OF 202A;, - - - - - 101 -GENERAL FUND 1 -REVENUES 28,084,853 28,903,281 29,420,396 30,252,800 31,547,874 32,595,594 33,615,323 34,632,746 2 -EXPENDITURES 2 -EXPENDITURES 18,840,209 20,281,730 25,610,277 25,544,400 26,717,128 27,406,489 28,057,933 28,725,287 3 -TRANSFERS -IN OPERATING SURPLUS/(DEFICIT) 9,244,644 8,621,551 3,810,120 4,708,400 4,830,745 5,189,105 5,557,390 5,907,460 3 -TRANSFERS -IN 364,049 146,257 190,000 230,000 190,000 190,000 190,000 190,000 4 -TRANSFERS -OUT 8,574,614 10,352,274 4,189,750 4,772,000 4,772,000 4,772,000 4,772,000 4,772,000 TRANSFERS NET (8,210,565) (10,206,017) (3,999,750) (4,542,000) (4,582,000) (4,582,000) (4,582,000) (4,582,000) TOTAL OVER/(UNDER) 1,034,079 (1,584,466) (189,630) 166,400 248,745 607,105 975,390 1,325,460 BALANCE 16,652,564 15,068,099 14,878,469 15,044,869 15,293,614 15,900,719 16,876,108 18,201,568 POLICY RESERVE (50% EXPS.) 9,420,105 10,140,865 12,805,138 12,772,200 13,358,564 13,703,244 14,028,966 14,362,643 EXCESS/(DEFICIENCY) 7,232,460 4,927,234 2,073,330 2,272,669 1,935,049 2,197,474 2,847,142 3,838,924 202 -GAS TAX 1 -REVENUES 1,118,583 954,488 910,365 1,261,200 1,815,777 1,815,855 1,766,733 1,766,812 2 -EXPENDITURES 2,156,510 1,954,274 1,739,900 1,599,100 1,637,478 1,676,778 1,717,021 1,758,229 OPERATING SURPLUS/(DEFICIT) (1,037,927) (999,786) (829,535) (337,900) 178,299 139,077 49,712 8,583 3 -TRANSFERS -IN 1,078,749 1,035,791 - - - - 4 -TRANSFERS -OUT - - TRANSFERS NET 1,078,749 1,035,791 - - - - TOTAL OVER/(UNDER) 40,822 36,005 (829,535) (337,900) 178,299 139,077 49,712 8,583 BALANCE 1,312,716 1,348,721 519,186 181,286 359,584 498,661 548,374 556,957 203-1972 ACT LANDSCAPE/LIGHT 1 -REVENUES 259,877 259,964 262,800 - - - - - 2 -EXPENDITURES 75,337 75,335 273,800 20,831 OPERATING SURPLUS/(DEFICIT) 184,540 184,628 (11,000) (20,831) 3 -TRANSFERS -IN - - 4 -TRANSFERS -OUT 200,000 200,000 TRANSFERS NET (200,000) (200,000) TOTAL OVER/(UNDER) (15,460) (15,372) (11,000) (20,831) BALANCE 47,203 31,831 20,831 - - - - - 209 -EL PRADO LIGHTING DIST 1 -REVENUES 2,318 2,446 2,461 2,510 2,672 2,766 2,862 2,963 2 -EXPENDITURES 689 31 800 800 819 839 859 880 OPERATING SURPLUS/(DEFICIT) 1,630 2,415 1,661 1,710 1,853 1,927 2,003 2,083 3 -TRANSFERS -IN - - - - - - - - 4 -TRANSFERS -OUT TRANSFERS NET - - - - - - - - TOTAL OVER/(UNDER) 1,630 2,415 1,661 1,710 1,853 1,927 2,003 2,083 BALANCE 22,810 25,225 26,886 28,596 30,449 32,376 34,380 36,462 Attachment A-10 CITY OF RANCHO PALOS VERDES 1,935 2,052 2,862 (472,100) 2,928 2,955 2,983 3,012 EXHIBIT D FUND SUMMARY - - - - - - 4 -TRANSFERS -OUT 224,000 97,791 TYPE 2015A 2016A 2017E 2018B TRANSFERS NET (224,000) (97,791) 211-1911 ACT STREET LIGHTING 1 -REVENUES 584,878 612,793 617,804 617,800 660,079 684,187 709,171 735,067 (472,100) 2 -EXPENDITURES 447,688 426,065 487,000 1,405,900 415,642 425,617 435,832 446,292 9,807 OPERATING SURPLUS/(DEFICIT) 137,190 186,728 130,804 (788,100) 244,437 258,570 273,340 288,775 3 -TRANSFERS -IN - - - 217,241 - - - - 209,981 4 -TRANSFERS -OUT 99,000 117,000 148,484 294,791 282,000 279,091 285,877 292,375 299,022 TRANSFERS NET (99,000) (117,000) - (72,100) - - - - 3 -TRANSFERS -IN TOTAL OVER/(UNDER) 38,190 69,728 130,804 (788,100) 244,437 258,570 273,340 288,775 40,000 BALANCE 1,794,849 1,864,578 1,995,382 1,207,282 1,451,719 1,710,289 1,983,629 2,272,403 212 -BEAUTIFICATION 1 -REVENUES 1,935 2,052 2,862 2,900 2,928 2,955 2,983 3,012 2 -EXPENDITURES - - - 475,000 - - - - OPERATING SURPLUS/(DEFICIT) 1,935 2,052 2,862 (472,100) 2,928 2,955 2,983 3,012 3 -TRANSFERS -IN - - - - - - - 4 -TRANSFERS -OUT 224,000 97,791 TRANSFERS NET (224,000) (97,791) - - - - - TOTAL OVER/(UNDER) (222,065) (95,739) 2,862 (472,100) 2,928 2,955 2,983 3,012 BALANCE 571,856 476,117 478,979 6,879 9,807 12,762 15,745 18,757 213 -WASTE REDUCTION 1 -REVENUES 249,442 217,241 209,842 209,900 209,927 209,953 209,981 210,008 2 -EXPENDITURES 114,321 148,484 294,791 282,000 279,091 285,877 292,375 299,022 OPERATING SURPLUS/(DEFICIT) 135,121 68,757 (84,949) (72,100) (69,164) (75,924) (82,395) (89,014) 3 -TRANSFERS -IN - - 4 -TRANSFERS -OUT 40,000 98,000 TRANSFERS NET (40,000) (98,000) TOTAL OVER/(UNDER) 95,121 (29,243) (84,949) (72,100) (69,164) (75,924) (82,395) (89,014) BALANCE 492,920 463,678 378,729 306,629 237,464 161,540 79,146 (9,868) 214 -AIR QUALITY MANAGEMENT 1 -REVENUES 2 -EXPENDITURES 66,325 54,422 50,536 50,600 50,606 50,611 50,617 50,623 50,000 50,000 50,000 50,000 51,200 52,429 53,687 54,976 OPERATING SURPLUS/(DEFICIT) 16,325 4,422 536 600 (594) (1,817) (3,070) (4,352) 3 -TRANSFERS -IN - - - - - 4 -TRANSFERS -OUT TRANSFERS NET TOTAL OVER/(UNDER) 16,325 4,422 536 600 (594) (1,817) (3,070) (4,352) BALANCE 102,602 107,024 107,560 108,160 107,566 105,748 102,679 98,326 Attachment A-11 CITY OF RANCHO PALOS VERDES 106,442 114,896 100,426 100,300 100,303 100,306 100,309 100,312 EXHIBIT D FUND SUMMARY - - - - - - - OPERATING SURPLUS/(DEFICIT) 106,442 114,896 TYPE 2015A 2016A 2017E 100,309 100,312 3 -TRANSFERS -IN - - 215 -PROPOSITION C 1 -REVENUES 622,664 636,682 649,916 649,900 649,929 649,957 649,986 650,016 100,000 2 -EXPENDITURES - - 18,000 618,000 618,432 618,874 669,327 669,791 (100,000) OPERATING SURPLUS/(DEFICIT) 622,664 636,682 631,916 31,900 31,497 31,083 (19,341) (19,776) 306 3 -TRANSFERS -IN - - - - - - 42,937 43,243 43,551 4 -TRANSFERS -OUT 1,747,468 526,000 TRANSFERS NET (1,747,468) (526,000) - - - - TOTAL OVER/(UNDER) (1,124,804) 110,682 631,916 31,900 31,497 31,083 (19,341) (19,776) BALANCE 192,990 303,672 935,588 967,488 998,985 1,030,067 1,010,726 990,951 1 YR. PAVEMENT MGMT EXP. 518,749 526,000 575,000 575,000 575,000 575,000 575,000 575,000 EXCESS/(DEFICIENCY) (325,759) (222,328) 360,588 392,488 423,985 455,067 435,726 415,951 216 -PROPOSITION A 1 -REVENUES 746,001 765,926 2,453,068 778,100 778,129 778,159 778,189 778,219 2 -EXPENDITURES 640,567 611,907 618,300 628,300 643,379 658,820 674,632 690,823 OPERATING SURPLUS/(DEFICIT) 105,434 154,019 1,834,768 149,800 134,750 119,339 103,557 87,396 3 -TRANSFERS -IN - - - - - - - - 4 -TRANSFERS -OUT 310,886 TRANSFERS NET (310,886) - - - - - - - TOTAL OVER/(UNDER) (205,452) 154,019 1,834,768 149,800 134,750 119,339 103,557 87,396 BALANCE 236,073 390,092 2,224,860 2,374,660 2,509,410 2,628,749 2,732,306 2,819,703 217 -PUBLIC SAFETY GRANTS 1 -REVENUES 106,442 114,896 100,426 100,300 100,303 100,306 100,309 100,312 2 -EXPENDITURES - - - - - - - - OPERATING SURPLUS/(DEFICIT) 106,442 114,896 100,426 100,300 100,303 100,306 100,309 100,312 3 -TRANSFERS -IN - - - - - - - - 4 -TRANSFERS -OUT 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 TRANSFERS NET (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) TOTAL OVER/(UNDER) 6,442 14,896 426 300 303 306 309 312 BALANCE 27,012 41,908 42,334 42,634 42,937 43,243 43,551 43,863 220 -MEASURE R 1 -REVENUES 466,966 481,350 493,200 493,200 493,301 493,402 493,505 493,609 2 -EXPENDITURES - - 553,000 650,000 250,000 250,000 250,000 250,000 OPERATING SURPLUS/(DEFICIT) 466,966 481,350 (59,800) (156,800) 243,301 243,402 243,505 243,609 3 -TRANSFERS -IN - - - - - - 4 -TRANSFERS -OUT 564,000 TRANSFERS NET (564,000) - - - - - TOTAL OVER/(UNDER) (97,034) 481,350 (59,800) (156,800) 243,301 243,402 243,505 243,609 BALANCE 1,153,223 1,634,573 1,574,773 1,417,973 1,661,274 1,904,676 2,148,181 2,391,790 Attachment A-12 CITY OF RANCHO PALOS VERDES EXHIBIT D FUND SUMMARY TYPE 2015A 2016A 2017E 2018B 2019F 02O 222-HABITAT RESTORATION 1-REVENUES 5,300 5,843 12,690 5,000 5,048 5,095 5,144 5,193 2-EXPENDITURES 136,059 139,344 166,500 174,300 178,483 182,767 187,153 191,645 OPERATING SURPLUS/(DEFICIT) (130,759) (133,501) (153,810) (169,300) (173,436) (177,671) (182,009) (186,452) 3-TRANSFERS-IN 157,000 4-TRANSFERS-OUT - TRANSFERS NET 157,000 TOTAL OVER/(UNDER) 26,241 (133,501) (153,810) (169,300) (173,436) (177,671) (182,009) (186,452) BALANCE 1,469,702 1,336,202 1,182,392 1,013,092 839,656 661,985 479,976 293,523 EMERGENCY PROJECTS RESERVE 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 EXCESS/(DEFICIENCY) 1,419,702 1,286,202 1,132,392 963,092 789,656 611,985 429,976 243,523 223-SUBREGION ONE MAINTENANCE 1-REVENUES 1,946 3,080 4,718 4,800 4,846 4,892 4,938 4,985 2-EXPENDITURES 51,319 35,046 42,800 44,800 45,875 46,976 48,104 49,258 OPERATING SURPLUS/(DEFICIT) (49,373) (31,966) (38,082) (40,000) (41,030) (42,085) (43,166) (44,273) 3-TRANSFERS-IN 46,000 4-TRANSFERS-OUT - TRANSFERS NET 46,000 TOTAL OVER/(UNDER) (3,373) (31,966) (38,082) (40,000) (41,030) (42,085) (43,166) (44,273) BALANCE 818,596 786,630 748,548 708,548 667,518 625,434 582,268 537,995 NON-SPENDABLE ENDOWMENT 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 EXCESS/(DEFICIENCY) 68,596 36,630 (1,452) (41,452) (82,482) (124,566) (167,732) (212,005) 224-MEASURE A MAINTENANCE 1-REVENUES 261,380 90,396 390,098 90,100 90,101 90,102 90,103 90,104 2-EXPENDITURES - - 300,000 - - - - - OPERATING SURPLUS/(DEFICIT) 261,380 90,396 90,098 90,100 90,101 90,102 90,103 90,104 3-TRANSFERS-IN - - - - - - - - 4-TRANSFERS-OUT 261,049 42,923 90,000 90,000 90,000 90,000 90,000 90,000 TRANSFERS NET (261,049) (42,923) (90,000) (90,000) (90,000) (90,000) (90,000) (90,000) TOTAL OVER/(UNDER) 331 47,473 98 100 101 102 103 104 BALANCE (47,302) 171 269 369 470 572 675 779 225-ABALONE COVE SEWER DIST 1-REVENUES 57,762 56,006 55,596 55,600 59,434 61,619 63,883 66,229 2-EXPENDITURES 112,145 110,713 249,383 250,500 257,430 263,624 269,889 276,303 OPERATING SURPLUS/(DEFICIT) (54,384) (54,707) (193,787) (194,900) (197,996) (202,005) (206,006) (210,074) 3-TRANSFERS-IN 50,700 80,700 208,000 208,000 208,000 208,000 208,000 208,000 4-TRANSFERS-OUT - - - - - - - - TRANSFERS NET 50,700 80,700 208,000 208,000 208,000 208,000 208,000 208,000 TOTAL OVER/(UNDER) (3,684) 25,993 14,213 13,100 10,004 5,995 1,994 (2,074) BALANCE 54,552 80,545 94,758 107,858 117,862 123,857 125,851 123,777 Attachment A-13 CITY OF RANCHO PALOS VERDES EXHIBIT D FUND SUMMARY TYPE 2015A 2016A 2017E 2018B 2019F 202OF 202 227-GINSBURG CULTURAL ART BLD 1 -REVENUES 258 338 512 500 505 510 514 519 2 -EXPENDITURES 18,000 16,000 - - - - - - OPERATING SURPLUS/(DEFICIT) (17,742) (15,662) 512 500 505 510 514 519 3 -TRANSFERS -IN - - - - - - 4 -TRANSFERS -OUT TRANSFERS NET - - - - - - TOTAL OVER/(UNDER) (17,742) (15,662) 512 500 505 510 514 519 BALANCE 101,419 85,757 86,269 86,769 87,274 87,783 88,298 88,817 228 -DONOR RESTRICTED CONTRIB 1 -REVENUES 27,579 18,274 14,148 7,500 7,688 7,880 8,077 8,279 2 -EXPENDITURES 22,519 11,742 25,225 5,000 5,120 5,243 5,369 5,498 OPERATING SURPLUS/(DEFICIT) 5,060 6,532 (11,077) 2,500 2,568 2,637 2,708 2,781 3 -TRANSFERS -IN - - - - - - - 4 -TRANSFERS -OUT TRANSFERS NET - - - - - - - TOTAL OVER/(UNDER) 5,060 6,532 (11,077) 2,500 2,568 2,637 2,708 2,781 BALANCE 870,741 877,272 866,195 868,695 871,263 873,899 876,607 879,388 285 -IA PORTUGUESE BEND MAINT 1 -REVENUES 84 1,422 1,762 1,800 1,817 1,834 1,852 1,869 2 -EXPENDITURES 69,352 53,121 114,900 114,900 117,658 120,481 123,373 126,334 OPERATING SURPLUS/(DEFICIT) (69,268) (51,699) (113,138) (113,100) (115,841) (118,647) (121,521) (124,465) 3 -TRANSFERS -IN 40,000 4 -TRANSFERS -OUT - TRANSFERS NET 40,000 TOTAL OVER/(UNDER) (29,268) (51,699) (113,138) (113,100) (115,841) (118,647) (121,521) (124,465) BALANCE 333,188 281,490 168,352 55,252 (60,589) (179,236) (300,757) (425,221) 310-CDBG 1 -REVENUES 83,217 297,593 142,100 139,300 2 -EXPENDITURES 26,170 298,649 24,570 139,300 OPERATING SURPLUS/(DEFICIT) 57,047 (1,056) 117,530 - 3 -TRANSFERS -IN - 12,680 - 4 -TRANSFERS -OUT - TRANSFERS NET - 12,680 - TOTAL OVER/(UNDER) 57,047 11,624 117,530 - - - - - BALANCE (11,624) - 117,530 117,530 117,530 117,530 117,530 117,530 Attachment A-14 CITY OF RANCHO PALOS VERDES 22,421 24,308 22,632 45,300 48,412 50,186 52,025 53,930 EXHIBIT D FUND SUMMARY - - - - - - - OPERATING SURPLUS/(DEFICIT) 22,421 24,308 TYPE 2015A 2016A 2017E 2018B 2019F 202OF 202_1.j, - 330 -INFRASTRUCTURE IMPRVMNTS 1 -REVENUES 348,286 133,674 608,578 608,600 610,238 611,891 613,560 615,245 2 -EXPENDITURES 8,696,609 1,344,353 9,346,487 5,814,471 7,030,000 3,210,000 3,660,000 2,080,000 - OPERATING SURPLUS/(DEFICIT) (8,348,323) (1,210,679) (8,737,909) (5,205,871) (6,419,762) (2,598,109) (3,046,440) (1,464,755) 50,186 3 -TRANSFERS -IN 11,753,919 10,471,894 3,943,750 4,526,000 4,526,000 4,526,000 4,526,000 4,526,000 310,953 4 -TRANSFERS -OUT 969,422 - - - - - - - 3,635 TRANSFERS NET 10,784,497 10,471,894 3,943,750 4,526,000 4,526,000 4,526,000 4,526,000 4,526,000 OPERATING SURPLUS/(DEFICIT) TOTAL OVER/(UNDER) 2,436,174 9,261,215 (4,794,159) (679,871) (1,893,762) 1,927,891 1,479,560 3,061,245 - BALANCE 20,447,428 29,708,642 24,914,483 24,234,612 22,340,850 24,268,741 25,748,301 28,809,546 EMERGENCY PROJECTS RESERVE 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 - EXCESS/(DEFICIENCY) 17,447,428 26,708,642 21,914,483 21,234,612 19,340,850 21,268,741 22,748,301 25,809,546 334-QUIMBY PARK DEVELOPMENT 1 -REVENUES 1,279,648 1,082,197 65,253 65,400 66,812 68,257 69,736 71,250 600,116 2 -EXPENDITURES - - 353,700 650,000 - - - - OPERATING SURPLUS/(DEFICIT) 1,279,648 1,082,197 (288,447) (584,600) 66,812 68,257 69,736 71,250 3 -TRANSFERS -IN - - - - - - 4 -TRANSFERS -OUT 50,000 TRANSFERS NET - (50,000) - - - - TOTAL OVER/(UNDER) 1,279,648 1,032,197 (288,447) (584,600) 66,812 68,257 69,736 71,250 BALANCE 1,337,510 2,369,707 2,081,260 1,496,660 1,563,472 1,631,729 1,701,464 1,772,714 336 -LOW -MODERATE INCOME HOUSI 1 -REVENUES 22,421 24,308 22,632 45,300 48,412 50,186 52,025 53,930 2 -EXPENDITURES - - - - - - - - OPERATING SURPLUS/(DEFICIT) 22,421 24,308 22,632 45,300 48,412 50,186 52,025 53,930 3 -TRANSFERS -IN - - - - - - - - 4 -TRANSFERS -OUT TRANSFERS NET - - - - - - - - TOTAL OVER/(UNDER) 22,421 24,308 22,632 45,300 48,412 50,186 52,025 53,930 BALANCE 45,941 92,397 115,029 160,329 208,742 258,928 310,953 364,883 337 -AFFORDABLE HOUSING PROJ 1 -REVENUES 84,694 4,945 3,516 3,500 3,533 3,567 3,601 3,635 2 -EXPENDITURES - - - - - - - - OPERATING SURPLUS/(DEFICIT) 84,694 4,945 3,516 3,500 3,533 3,567 3,601 3,635 3 -TRANSFERS -IN - - - - - - - - 4 -TRANSFERS -OUT TRANSFERS NET - - - - - - - - TOTAL OVER/(UNDER) 84,694 4,945 3,516 3,500 3,533 3,567 3,601 3,635 BALANCE 584,622 589,567 593,083 596,583 600,116 603,683 607,284 610,919 Attachment A-15 CITY OF RANCHO PALOS VERDES EXHIBIT D FUND SUMMARY TYPE 2015A 2016A 2017E 2018B 2019F 202OF 202_U, J�� 338 -DEVELOP IMPACT MIT (EET) 1 -REVENUES 21,013 67,611 114,516 114,500 117,339 120,249 123,232 126,289 2 -EXPENDITURES - - - - - - - - OPERATING SURPLUS/(DEFICIT) 21,013 67,611 114,516 114,500 117,339 120,249 123,232 126,289 3 -TRANSFERS -IN - - - - - - - - 4 -TRANSFERS -OUT 97,199 200,000 TRANSFERS NET (97,199) (200,000) - - - - - - TOTAL OVER/(UNDER) (76,186) (132,389) 114,516 114,500 117,339 120,249 123,232 126,289 BALANCE 336,998 204,609 319,125 433,625 550,964 671,214 794,445 920,734 340-BICYCLE/PEDESTRIAN ACCESS 1 -REVENUES 25 - 82,500 82,500 82,500 82,500 82,500 82,500 2 -EXPENDITURES - 97 - 82,500 - - - - OPERATING SURPLUS/(DEFICIT) 25 (97) 82,500 - 82,500 82,500 82,500 82,500 3 -TRANSFERS -IN - - - - - - 4 -TRANSFERS -OUT TRANSFERS NET - - - - - - - TOTAL OVER/(UNDER) 25 (97) 82,500 - 82,500 82,500 82,500 82,500 BALANCE 97 - 82,500 82,500 165,000 247,500 330,000 412,500 501-WQ FLOOD PROTECTION 1 -REVENUES 2,591,823 1,405,559 40,297 - - - - - 2 -EXPENDITURES 1,422,428 646,433 5,056,874 OPERATING SURPLUS/(DEFICIT) 1,169,395 759,126 (5,016,577) 3 -TRANSFERS -IN 820,000 - 4 -TRANSFERS -OUT 362,360 TRANSFERS NET 457,640 - TOTAL OVER/(UNDER) 1,627,035 759,126 (5,016,577) - - - - - BALANCE 5,333,829 5,598,163 581,586 581,586 581,586 581,586 581,586 581,586 681 -EQUIPMENT REPLACEMENT 1 -REVENUES 913,337 344,334 135,300 300,900 300,900 300,900 300,900 300,900 2 -EXPENDITURES 709,537 604,815 1,244,000 1,844,300 - - - - OPERATING SURPLUS/(DEFICIT) 203,800 (260,481) (1,108,700) (1,543,400) 300,900 300,900 300,900 300,900 3 -TRANSFERS -IN 149,422 - - - - 4 -TRANSFERS -OUT - TRANSFERS NET 149,422 - - - - TOTAL OVER/(UNDER) 353,222 (260,481) (1,108,700) (1,543,400) 300,900 300,900 300,900 300,900 BALANCE 4,038,262 3,800,163 2,691,463 1,148,063 1,448,963 1,749,863 2,050,763 2,351,663 685 -EMPLOYEE BENEFITS 1 -REVENUES 2,031,550 2,169,254 - - - - - - 2 -EXPENDITURES 2,049,468 2,247,354 OPERATING SURPLUS/(DEFICIT) (17,918) (78,100) 3 -TRANSFERS -IN 4 -TRANSFERS -OUT TRANSFERS NET TOTAL OVER/(UNDER) (17,918) (78,100) - - - - - - BALANCE 131,429 53,328 53,328 53,328 53,328 53,328 53,328 53,328 Attachment A-16 CITY OF RANCHO PALOS VERDES TOTAL OVER/(UNDER) (22,043) (4,572) (29,926) (29,900) (31,627) (33,396) (35,208) EXHIBIT D FUND SUMMARY BALANCE 1,059,506 1,054,933 1,025,007 995,107 963,480 930,084 894,876 857,811 TYPE 2015A 2016A 2017E 2018B 2019F 02O 1,000,000 1,000,000 686-BUILDING REPLACEMENT 1-REVENUES 2,232 334 25,007 (4,893) (36,520) (69,916) (105,124) (142,189) LEGEND (column headers) 2-EXPENDITURES - - A = ACTUAL OPERATING SURPLUS/(DEFICIT) 2,232 334 2017E = FY 2016-17 YEAR-END ESTIMATE 3-TRANSFERS-IN - - 2018B = FY 2017-18 PRELIMINARY BUDGET 4-TRANSFERS-OUT 944,841 334 F = FORECASTED BUDGET TRANSFERS NET (944,841) (334) TOTAL OVER/(UNDER) (942,609) - BALANCE - - - - - - - - 795-IA ABALONE COVE MAINT 1-REVENUES 263 4,115 6,674 6,700 6,764 6,828 6,893 6,958 2-EXPENDITURES 57,306 45,688 74,600 74,600 76,390 78,224 80,101 82,024 OPERATING SURPLUS/(DEFICIT) (57,043) (41,572) (67,926) (67,900) (69,627) (71,396) (73,208) (75,065) 3-TRANSFERS-IN 35,000 37,000 38,000 38,000 38,000 38,000 38,000 38,000 4-TRANSFERS-OUT - - - - - - - - TRANSFERS NET 35,000 37,000 38,000 38,000 38,000 38,000 38,000 38,000 Attachment A-17 TOTAL OVER/(UNDER) (22,043) (4,572) (29,926) (29,900) (31,627) (33,396) (35,208) (37,065) BALANCE 1,059,506 1,054,933 1,025,007 995,107 963,480 930,084 894,876 857,811 NON -SPENDABLE ENDOWMENT 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 EXCESS/(DEFICIENCY) 59,506 54,933 25,007 (4,893) (36,520) (69,916) (105,124) (142,189) LEGEND (column headers) A = ACTUAL 2017E = FY 2016-17 YEAR-END ESTIMATE 2018B = FY 2017-18 PRELIMINARY BUDGET F = FORECASTED BUDGET Attachment A-17