CC SR 20250603 05 - FY 2025-26 Financial Model
CITY COUNCIL MEETING DATE: 06/03/2025
AGENDA REPORT AGENDA HEADING: Regular Business
AGENDA TITLE:
Consideration to receive the Fiscal Year 2025-26 Financial Model
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the Fiscal Year 2025-26 Financial Model for the General Fund
and all other Special Funds.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Robert Moya, Deputy Director of Finance RM
REVIEWED BY: Vina Ramos, Director of Finance VR
APPROVED BY: Ara Mihranian, AICP, City Manager
ATTACHED SUPPORTING DOCUMENTS:
A. Draft 10-Year General Fund Model (page A-1)
B. Draft 5-Year All Special Funds Model (page B-1)
BACKGROUND:
The 10-Year Financial Model is administered by the City’s Finance Department and
reviewed during the annual budget cycle in accordance with City Council Policy No. 18.
Each iteration of the model integrates historic and current year data with the latest
economic assumptions to produce a long-term forecast of revenues, expenditures, and
fund balances. In addition to establishing a baseline forecast, the model is relied upon to
support deliberations among decision makers and to validate the fiscal impact of various
programmatic or financial alternatives under consideration.
Since implementation, the model has become increasingly beneficial to the budget
process due to its various enhancements over time. In Fiscal Year (FY) 2021-22, the
original Five-Year Financial Model was expanded to 10 years and renamed accordingly
at the request of then-City Councilmember Eric Alegria. A post-pandemic economy
prompted the addition of a sensitivity analysis during the same span of time. Any
improvements or analyses requested by the City Council are integrated into the model
each year and presented for review during the June budget meetings.
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FY 2025-26 Model Format
In its latest iteration, the FY 2025-26 Financial Model (Model) uses the inputs and
assumptions developed during the annual budget cycle. The Model primarily focuses on
the General Fund, illustrates the City’s long-term financial position, and supports the
development of a structurally balanced operating budget. Special Revenue Funds and
budgetary figures from the Five-Year Capital Improvement Program are also included to
provide a complete picture of the City’s long-term financial outlook.
The baseline revenue and expenditure forecasts are established using the FY 2025-26
Preliminary Budget. Additional data within the model includes:
► Historic actuals and year-end fund balances for all City funds
► Key assumptions and various economic input factors
► FY 2024-25 year-end estimates and projected fund balances as of June 30, 2025
► A 10-year overview from FY 2024-25 to FY 2033-34
Major funds included in the Model are separated as follows:
► General Fund – The General Fund balance is separated by the 50% reserve policy
and the unrestricted balance.
► Funds restricted by City Council action – The balances of the Capital Infrastructure
Program Fund (CIP), Employee Pension Service Fund, and Equipment
Replacement Fund are restricted by City Council action for a specific purpose. The
funds were initiated with transfers from the General Fund and may be transferred
back to General Fund or used for other purposes upon City Council action.
► 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. This funding can only be used for the purpose
outlined by the terms and conditions set by legislation and voter ballot measures.
Lastly, the Model is organized and presented using the following reports:
► Draft 10-Year General Fund Model
► Draft 5-Year All Special Funds Model
In addition to the attached reports, an overview of the development process and analysis
of the 10-year forecast is detailed in the discussion section below.
DISCUSSION:
Model Development Process
At the start of the budget season, Finance Staff updated the Model to prepare for the
General Fund Budget Workshop. Mid-year revenues and expenditures were added to
analyze actual performance against the revised budget. Staff also reviewed historical data
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alongside industry trends and economic indicators to produce the General Fund budget
assumptions, FY 2024-25 year-end estimates, and the FY 2025-26 Proposed Budget.
For the preliminary budget meeting, actuals through March and the latest City Council-
approved changes to the FY 2024-25 estimates and FY 2025-26 budget have been
incorporated. Recent updates also included the 5-year Capital Improvement Program.
This process resulted in the FY 2025-26 Preliminary Budget, forming the Model’s baseline
forecast and long-term outlook for all City funds in advance of budget adoption.
Budget Assumptions
The assumptions listed in Table 1 highlight the long-term growth rates used to develop
the baseline forecast from FY 2025-26 through FY 2033-34. Staff reviews and updates
these rates annually based on historic data, current trends, and economic activity related
to the City’s major revenue and expenditure categories. Any significant changes to the
assumptions, if material, are discussed in greater detail in the sections below.
Table 1. Economic Model Input Factors
General Fund Revenue Assumptions
Property Tax
Property tax remains the primary and most stable source of revenue in the General Fund.
The FY 2025-26 proposed budget anticipates total property tax revenue of approximately
$18.2 million, reflecting a $580,000 (3.3%) increase over the FY 2024 -25 year-end
estimate of $17.6 million. This growth is driven by a combination of factors, including the
2.0% inflation adjustment under the California Consumer Price Index, ongoing property
sales and transfers adding $310 million in reassessed value, and continued re sidential
construction and improvements. The estimate incorporates Citywide trends and localized
impacts, including potential exposure to Proposition 8 reductions and the FEMA/CalOES -
funded voluntary property buyout program within the Portuguese Bend Lands lide
Complex. While higher mortgage rates have slowed transaction volumes, the City’s
strong housing market and regional demand, amplified by displacement from recent
2025E 2026B 2027F 2028F 2029F 2030F 2031F 2032F 2033F 2034F
REVENUES
PROPERTY TAX 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
TRANSIENT OCCUPACY TAXES 4.0% 4.3% 4.2% 4.2% 4.1% 4.1% 4.0% 4.0%
SALES TAX 2.5% 3.0% 2.5% 2.5% 2.5% 2.3% 2.3% 2.0%
FRANCHISE TAX 1.5% 1.5% 1.5% 1.5% 1.5% 1.5% 1.5% 1.5%
UTILITY USERS TAX 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
PERMIT REVENUES 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
INVESTMENT INTEREST 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
EXPENDITURES
NON-PERSONNEL EXPENDITURES 4.5% 4.4% 4.3% 4.0% 4.0% 4.0% 4.0% 4.0%
PERSONNEL EXPENDITURES 4.5% 4.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
HEALTH INSURANCE 1.5% 1.5% 1.5% 1.5% 1.5% 1.5% 1.5% 1.5%
PERS NORMAL COSTS 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5%
SHERIFF CONTRACT 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
FORCAST ASSUMPTIONS - 2025 FINANCIAL MODEL
FY 2024-25 YE EST.
AND FY 2025-26
BUDGET PREPARED
OUTSIDE OF THE
MODEL
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wildfires, support stable assessments. Based on current projections, Rancho Palos
Verdes is expected to see a 3.5% increase in overall assessed valuation in FY 2025 -26.
For purposes of long-range financial forecasting, property tax revenues are assumed to
grow at an average annual rate of 4.0%, aligning with the City’s long-term revenue trends
observed over both the past decade and the more recent five-year period.
Transient Occupancy Tax (TOT)
TOT remains the second-largest revenue source in the General Fund, with 98% of
collections generated by Terranea Resort. The FY 2025-26 proposed budget projects
TOT revenue at $7.0 million, a $300,000 (3.7%) increase over the FY 2024 -25 year-end
estimate of $6.7 million. This increase is based on Terranea’s projected room revenue of
$72.5 million for calendar year 2025, with a conservative downward adjustment of
approximately 4% to account for broader economic uncertainties and evolving travel
trends. While recent landslide activity near the Portuguese Bend area raised concerns,
there has been no material impact on resort operations, occupancy rates, or collections.
As tourism in Los Angeles County nears pre-pandemic levels, Rancho Palos Verdes
remains a strong coastal destination, supporting steady TOT performance. Looking
ahead, TOT revenue is projected to grow by 4% in 2027, with a temporary increase to
5% in 2028 in anticipation of heightened tourism activity surrounding the 2028 Olympic
Games. After that, the growth rate gradually tapers, settling at 4.3 % by 2034. This
tapering reflects a conservative long-term forecast that balances recent performance with
broader economic uncertainty, potential shifts in travel behavior, and the City's position
within a competitive regional hospitality market. While current trends remain strong, this
approach helps ensure the City plans responsibly for the future.
Sales Tax
Sales and Use Tax revenues are projected at $2.85 million for FY 2025 -26, reflecting a
slight decrease of $14,200 (0.5%) from the FY 2024 -25 year-end estimate of $2.87
million. This conservative forecast is based on local sales trends and analysis from the
City’s sales tax consultant, HdL. While the City’s taxable sales base remains relatively
stable, broader economic factors, including elevated interest rates, reduced discretionary
spending, and softening in key sectors like fuel, building materials, and d urable goods,
are expected to temper growth. Rancho Palos Verdes’ largely residential character and
limited commercial presence continue to constrain sales tax revenue when compared to
neighboring jurisdictions. Although Measure A, approved by Los Angeles County voters
in November 2024, increased the countywide sales tax rate, the proceeds are allocated
to the County and do not generate additional revenue for the City. For long-term financial
planning, sales tax revenue is forecasted to remain flat at 2.5 % annual growth, with a
temporary increase to 3% in 2028 in anticipation of heightened consumer spending and
regional activity tied to the Olympic Games. This cautious outlook provides room for
adjustments based on future market trends and statewide policy shifts, which staff will
continue to monitor closely.
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Permits and Fees
Permits and Fees revenues are projected to reach approximately $4.3 million in FY 2025 -
26, representing an increase of $194,000 (4.7%) over the FY 2024-25 year-end estimate.
This growth is primarily driven by sustained demand for building and safety permit s, plan
check services, and business licenses, reflecting a healthy pace of development and
compliance activity throughout the City. While revenues from categories such as animal
licenses and temporary permits remain relatively flat, the overall outlook si gnals a stable
environment. On April 17, 2025, during the Budget Workshop, the City Council approved
a Consumer Price Index (CPI) adjustment to the Master Fee Schedule, contributing
approximately $130,000 to the projected increase. The City Council is also scheduled to
consider the annual Master Fee Schedule at tonight’s meeting as a separate agenda item,
including whether to adopt an additional CPI adjustment for the upcoming fiscal year. Any
changes will be incorporated into the FY 2025 -26 budget as appropriate. For long-term
financial planning purposes, Permits and Fees revenues are assumed to grow at an
average annual rate of 3%, reflecting historical development activity and aligning with
past revenue performance trends.
Franchise Tax
Franchise Tax revenues are projected to remain flat at $2.4 million for FY 2025 -26,
consistent with the FY 2024-25 year-end estimate and reflecting a slight decline from FY
2023-24 actuals. These revenues are generated from payments made by franchisees
such as EDCO, Southern California Edison, Cox Communications, and Southern
California Gas Company for the use of the City’s public rights-of-way. Estimates are
based on historical trends, current industry performance, and existing franchise
agreements. Staff continues to m onitor regional utility activity and regulatory
developments that could affect future revenues. In alignment with the best regional
practices, the City is also reviewing its franchise agreements to ensure they reflect
infrastructure usage, evolving service demands, and long-term fiscal sustainability. For
forecasting purposes, Franchise Tax revenues are assumed to grow at an average
annual rate of 1.5% over the long term, based on historical performance and anticipated
adjustments to service agreements and utility infrastructure demand.
Utility Users Tax (UUT)
UUT revenues are projected at $2.5 million for FY 2025-26, reflecting a modest increase
of $17,200 (0.7%) over the FY 2024-25 year-end estimate, though still below FY 2023-24
actuals due to continued declines in utility consumption. Revenues are influenced by
factors such as weather patterns, energy market volatility, and consumption trends across
electricity, gas, and water services. The FY 2025-26 projection accounts for known
service disruptions caused by the ongoing landslide activity in the Portuguese Bend
Community Association, Portuguese Bend Beach Club, and Seaview neighborhoods,
where utility shutdowns have impacted approximately 245 homes and over 130 gas
service connections. These interruptions are estimated to reduce UUT collections by
roughly $100,000. Despite these impacts, the City Council approve d maintaining the
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current 3% UUT rate for FY 2025-26 at the April 17, 2025, Budget Workshop. In
accordance with RPV Municipal Code Section 3.30.190, the City Manager will continue
to submit annual analyses to determine if rate adjustments are necessary based on City
needs. For long-term planning purposes, UUT revenues are projected to grow at an
average annual rate of 2%, consistent with historical trends and supported by expected
stabilization in utility usage and rate structures over time. Staff will continue to monitor
energy consumption patterns and evolving conditions in impacted areas to update
revenue forecasts as new information becomes available.
Investment Interest
Interest earnings continue to perform strongly for the General Fund, supported by
sustained higher interest rates and prudent investment practices. The FY 2024 -25 year-
end estimate stands at approximately $1.4 million, reflecting favorable returns on the
City’s investment portfolio. In accordance with the City’s annual investment policy,
available cash is invested with a focus on safety, liquidity, and yield. While recent
performance has exceeded expectations, projections for future years remain
conservative, assuming a 2% growth rate over the long term to account for potential
market fluctuations and changing economic conditions.
In summary, General Fund operating revenues, including transfers, are projected to reach
$41.8 million FY 2025-26. Revenue assumptions for future years will continue to be
monitored and adjusted based on the annual analysis of financial indicators.
General Fund Expenditures
Non-Personnel Expenditures
Non-personnel expenditures are budgeted at approximately $12.8 million for FY 2025-
26. This category includes costs for public safety contracts, legal services, consulting,
maintenance, utilities, and other operational needs. The long -term forecast shows a
tapering trend in the growth rate, starting at 4.5% in FY 2026 and gradually declining to
4.0 percent by FY 2029. This reflects a conservative approach based on expectations
that spending will stabilize as temporary cost drivers ease. The higher growth rate in FY
2026 accounts for lingering operational demands and t he continued use of outside
professional services. As City staffing levels return to normal, reliance on external
consultants is expected to decrease. This shift supports the lower projected growth in
later years and helps bring expenditures more in line w ith historical spending patterns.
Over the past five years, non-personnel costs have grown by an average of 12.1% per
year. Most of this increase was tied to higher professional and technical service costs
during periods of key vacancies. With those positi ons now filled and one-time pressures
behind us, future spending in this category is expected to follow a steadier and more
manageable pace.
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Personnel Expenditures
Personnel costs are estimated at approximately $13.8 million in FY 2025-26, representing
37% of the proposed General Fund operating budget before transfers out. This marks an
increase of $0.6 million (4.2%) from the FY 2024-25 revised budget. The estimate
includes salaries and benefits for full-time and part-time staff, interns, and stipends for
City Council and Planning Commissioners. While one more labor agreement is still under
negotiation, the FY 2025-26 budget assumes the continuation of existing contract terms.
For long-range forecasting, personnel expenditures are projected to grow by 4.5 % in FY
2027 and 4.0% in FY 2028. These higher growth rates account for anticipated increases
tied to new labor agreements with employee groups. Beginning in FY 2029, personnel
cost growth is assumed to return to a more typical 3% annual increase, reflecting a
conservative outlook based on cost-of-living adjustments and historical compensation
trends. This approach provides flexibility to adjust for future labor negotiations while
maintaining fiscal stability in the long term.
Health Insurance
Health insurance costs are based on the City’s annual premiums for medical, dental, and
vision coverage. These costs are tracked separately in the forecast model to better
assess long-term benefit obligations. The forecast assumes a 1.5% annual growth rate,
which reflects historical trends and helps ensure more accurate long-range projections.
CalPERS Normal Cost
The California Public Employees' Retirement System (CalPERS) sets the employer
normal cost contribution rates for all participating employers. This category is calculated
based on current staffing levels and the estimated payroll to account for future bene fits.
The Model incorporates the data below to account for the normal costs based on the
latest pension valuation, which provides the estimated contribution for FY 2025-26. The
remaining years are forecasted at 2.5%, which aligns with previous expenditure growth
and the payroll assumption rate used by CalPERS.
Table 2. Model Data - Projected Future Employer Contributions (in dollars)
Normal Cost Rate - All Plans
2024-25 2025-26 2026-27 2027-28 2028-29
695,745 724,060 742,162 760,716 779,733
2029-30 2030-31 2031-32 2032-33 2033-34
799,227 819,207 839,688 860,680 882,197
Unfunded Accrued Liability
In addition to the employer’s normal cost contributions, the City of Rancho Palos Verdes
is required to make annual payments toward its Unfunded Accrued Liability (UAL). These
payments are determined by CalPERS’ amortization schedule and represent the City’s
obligation to pay down the unfunded portion of pension liabilities accumulated over prior
years.
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As of June 30, 2022, the City’s total UAL balance across all tiers (Tier 1, Tier 2, and
PEPRA/Tier 3) was $16.7 million, which reflects a 66% increase from the $10 million
reported the previous year. The significant increase is due to a combination of fact ors,
including lower-than-expected investment returns and updated actuarial assumptions.
CalPERS provides a projected UAL payment schedule based on a long -term expected
investment return of 6.8%. These projections assume no additional discretionary
payments are made and are shown below in Table 3.
Table 3. CalPERS Projected UAL Payments (Assumes 6.8% Return)
Benefit Plan FY 2025-26
Required
FY 2026-27
Projected
FY 2027-28
Projected
FY 2028-29
Projected
FY 2029-30
Projected
Tier 1 $1,448,658 $1,546,000 $1,626,000 $1,797,000 $1,839,000
Tier 2 $30,952 $41,000 $51,000 $61,000 $62,000
Tier 3 $31,007 $41,000 $52,000 $62,000 $63,000
Total $1,510,617 $1,628,000 $1,729,000 $1,920,000 $1,964,000
To provide a forecast aligned with official CalPERS projections, the City has updated its
pension model to reflect the latest available actuarial valuations based on a 6.8% discount
rate. These projections are derived from June 30, 2023 CalPERS reports for all three of
the City's miscellaneous pension tiers and incorporate CalPERS’ standard amortization
policies. Unlike prior models, this version does not adjust the UAL payment forecast
downward to reflect the temporary investment underperformance from 2023.
It is also worth noting that CalPERS reported a 9.3% preliminary net investment return
for FY 2023-24, which exceeds the long-term assumed rate of 6.8%. If this return is
finalized and sustained, it may contribute to improved funded status and slower growth in
UAL payments in future valuation cycles.
Table 4 below summarizes the anticipated UAL payments from FY 2024 -25 through FY
2033-34 based on current actuarial data and assumptions.
Table 4. Model Data - Projected UAL Payments
UAL Payments - All Plans
2024-25 2025-26 2026-27 2027-28 2028-29
$1,430,761 $1,510,617 $1,628,000 $1,729,000 $1,920,000
2029-30 2030-31 2031-32 2032-33 2033-34
$1,964,000 $2,001,000 $2,028,000 $2,016,000 $1,960,000
Lastly, it is worth noting that the previous assumption table in this report included
projected UAL payments. However, due to the City’s $900,000 cap on General Fund
contributions toward UAL, the year-over-year rate of increase was previously displayed
as 0%. For greater accuracy, this cap has been removed from the updated model, and
staff will continue to review how best to illustrate future UAL payment assumptions in
upcoming reports.
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Los Angeles County Sheriff’s Contract
The City’s contract with the Los Angeles County Sheriff’s Department (LASD) is budgeted
at approximately $8.6 million for FY 2025 -26. This accounts for roughly 23% of the
General Fund operating budget assumptions before transfers and supports the
continuation of the City’s current level of public safety services. The increase reflects the
finalized FY 2025-26 law enforcement cost model released by the Auditor -Controller,
which includes a 4.37% rate increase for a Deputy Sheriff Service Unit, 6.63% for a
Bonus-I Deputy, and 6.11% for a Sergeant. The model also includes costs related to the
department’s body-worn camera program. Additionally, the liability surcharge increased
from 12.5% to 13.0% following the latest actuarial review. Per the City’s five-year joint
agreement approved in June 2024, Rancho Palos Verdes is responsible for 68% of the
total contract, with 28% allocated to Rolling Hills Estates and 4% to Rolling Hills.
The long-term financial model assumes an average annual growth rate of 4% for LASD
contract costs, consistent with historical trends and cost drivers such as labor negotiations
and liability rates. Since FY 2017-18, the City has used actual TOT revenue net of LASD
cost increases to guide General Fund transfers to the Capital Improvement Program (CIP)
Fund. While no formal action was taken in FY 2024-25, the Finance Advisory Committee
(FAC) continues to monitor the long-term feasibility of using TOT revenue to offset rising
public safety costs.
In summary, FY 2025-26 General Fund operating expeditures, including transfers, are
projected to reach $41.8 million. As is the case with revenues, Staff will continue to
monitor trends and report any material updates if warranted.
10-Year Financial Forecast
General Fund
The following chart presents the 10-year outlook illustrating differences with transfers in
and out of the General Fund. As illustrated in Chart 1 on the next page, the General Fund
continues to have a structurally balanced budget with estimated operating revenues
exceeding expenditures through FY 2033-34, excluding transfers.
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Chart 1. General Fund 10-Year Forecast (Excluding Transfers)
The City’s operating fund balance is reduced by transfers to various other funds. The
largest transfer is TOT revenue from Terranea to the CIP, followed by additional transfers
to subsidize funds without regular revenue sources. Transfers Out from the General Fund
help to cover annual maintenance charges, maintain endowment requirements, and
support operations and are included in the Model as summarized in Table 5. As part of
the FY 2025-26 budget, an additional $546,650 was allocated to the CIP in accordance
with City Council direction during the April 17 budget workshop. This amount reflects the
difference between projected General Fund revenues and expenditures presented at that
time.
Table 5. FY 2025-26 General Fund Transfers Out
FY 2024-25
Year-End Estimate
FY 2025-26
Preliminary Budget
TRANSFER - CIP $12,320,650 $ 4,413,650
TRANSFER - HABITAT RESTORATION 150,000 170,000
TRANSFER - SUBREGION 1 MAINT 60,000 40,000
TRANSFER - ABALONE COVE SEWER 70,000 20,000
TRANSFER - IA PORTUGUESE BEND 15,000 --
*TRANSFER - EMPLOYEE PENSION 400,000 --
Total Transfers Out $13,015,650 $4,643,650
*FY 2024-25 includes transfers approved in prior year
Additional Transfers from Unallocated Fund Balance
Moreover, in accordance with the City Council Reserve Policy No. 41, the City may
transfer all or a percentage of the prior year’s unrestricted excess reserve from General
Fund. The City Council approved Staff’s recommendation to transfer $889,500 to the CIP
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Fund for the Ladera Linda Community Center loan payment and $400,000 to the
Employee Pension Service Fund (EPSF) at the budget workshop. However, since the
approved transfers are funded from the prior year’s unallocated fund balance, these
amounts are not included in the preliminary totals for FY 2025-26. The additional transfers
will be incorporated into an updated version of the model following adoption of the FY
2025-26 budget.
Under current assumptions, Chart 2 illustrates that baseline revenues can support
baseline expenditures after including the estimated transfers-out through FY 2033-34.
However, this gap is minimal, and it’s important to note that expenditures continue to
increase faster than revenues. Between fiscal years 2016 and 2024, operating revenues
and expenditures have grown at an average annual rate of 4% and 5.5%, respectively
and excluding transfers. As such, the model can be utilized to assess the fiscal impact of
additional programmatic changes.
Chart 2. General Fund 10-Year Forecast (Including Transfers)
Based on the Model, the estimated General Fund balance as of June 30, 2025, based on
the latest updates to revenues, expenditures, and transfers, is approximately $28.7
million. A 10-year overview of the General Fund Balance from the Model is provided in
Chart 3. According to the long-term outlook under current assumptions, the total fund
balance is conservatively forecasted to grow year-over-year by an average rate of about
1%, ending FY 2033-34 at approximately $39.0 million. While the restricted portion of the
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fund balance is projected to steadily increase, the unrestricted portion is expected to
gradually decline before steadily increasing later in the outlook period.
Chart 3. 2025 Model – General Fund Balance Forecast
General Fund Sensitivity Analysis
Following direction from the City Council, staff continue to use the Financial Model as a
tool to evaluate hypothetical scenarios that may impact the long -term financial condition
of the City. The sensitivity analysis helps inform the Council of potential risks and
outcomes should key economic variables change significantly. The scenario below is for
illustrative purposes only and does not reflect the City’s current forecast.
As recommended by the Finance Advisory Committee, the FY 2025 Model incorporates
a sensitivity analysis applying a -5% reduction in General Fund revenue and a +5%
increase in expenditures to simulate the potential impact of deteriorating baseline
conditions. This stress test assumes the City experiences slower-than-anticipated
revenue growth coupled with accelerated operating costs due to inflation, labor demands,
or new service needs.
As shown in Chart 5 on the following page, the results of this analysis highlight a structural
imbalance over the 10-year forecast period. Under this scenario, General Fund
expenditures are projected to reach approximately $56.7 million by FY 2033-34 compared
to the baseline forecast of $54.0 million. Meanwhile, revenues would only reach $51.9
million by FY 2033-34, falling short of the baseline projection of $54.7 million. On average,
expenditures outpaced revenues by approximately $4 million per year, with the gap
widening over time.
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Chart 5: Sensitivity Analysis: -5% Revenue / +5% Expenditure
This scenario reinforces the importance of long-term fiscal discipline and the risks
associated with adding fixed costs without a dedicated revenue source. While
hypothetical, this analysis underscores the need for prudent decision-making and ongoing
monitoring of economic trends when considering service expansions or staffing
increases.
Capital Infrastructure Program (CIP) Fund
The FY 2025-26 Preliminary Budget for all expenditures in the CIP Fund totals $17.5
million. This total includes $16.4 million in capital project costs, approximately $0.2 million
in personnel costs, about $0.9 million in loan payment. The forecast model for the CIP
and Special Revenue Funds is based on the City’s Five -Year CIP rather than a 10-year
projection, aligning with the five-year capital plan reviewed by the Infrastructure
Management Advisory Committee (IMAC), Planning Commission, and City Council to
ensure consistency across planning and oversight efforts.
The Model also provides a long-term forecast of revenues and expenditures for the CIP
Fund. This review highlights the status of the fund and the long -term implications on the
Fund Balance based on current assumptions. Table 6 on the following page shows
projected revenues alongside estimated expenditures. As seen in the table, expenditures
significantly outpace revenues through FY 20 25-26, after which the trend reverses and
expenditures remain below revenues through FY 2029-30.
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Table 6. CIP Revenue and Expenditure Forecast
The table above, as well as Chart 6 below, outlines projected revenues, expenditures,
and fund balances from FY 2024-25 through FY 2029-30. The beginning fund balance in
FY 2024-25 is $29.6 million, with estimated revenues totaling $15.7 million, driven by TOT
transfers, interest earnings, and one-time funds including $6.4 million for landslide
response and $1.2 million from the prior year’s unallocated balance. Expenditures in FY
2024-25 are estimated at $29.1 million due to major capital projects and loan
disbursements, then decline significantly over the forecast period. Revenues also taper
off to approximately $6.5 million by FY 2029-30 as grant funding and one-time transfers
phase out. Despite early high spending, the projected ending fund balance gradually
recovers, with the restricted balance increasing from $0.8 million in FY 2026-27 to $6.5
million by FY 2029-30.
CIP Fund FY 2025
YE Estimates FY 2026 FY 2027 FY 2028 FY 2029 FY 2030
Beginning Fund Balance 29,592,500 16,216,650 7,206,200 5,758,600 7,992,640 10,313,440
Revenues
Interest Earnings 1,200,000 250,000 200,000 190,000 195,700 201,600
Grants - LA County Supervisor Hahn 2,200,000 570,000 - - - -
Grants - LA County Flood Control - 2,000,000 - - - -
Loan Payments from Districts - 342,900 342,900 342,900 342,900 342,900
Transfers-In: General Fund
(Annual TOT minus public safety
cumulative increases)
3,852,500 3,867,000 4,003,600 3,959,440 3,863,900 3,852,800
Transfers-In: General Fund
(Additional - Ladera Loan)889,500 889,500 889,500 889,500 889,500 889,500
Transfers-In: General Fund
(Additional - Prior Year's
Unallocated Balance )
1,178,650 546,650 - - - -
Transfers-In: General Fund
(Additional - Approved 10/1/2024 for
Landslide)
6,400,000 - - - - -
Total Revenues (Estimates)15,720,650 8,466,050 5,436,000 5,381,840 5,292,000 5,286,800
CIP Fund FY 2025
YE Estimates FY 2026 FY 2027 FY 2028 FY 2029 FY 2030
Expenditures
Emergency Stabilization Measures
(Maintenance - Landslide)(18,910,000) (8,050,000) -
Stabilization Measures
(Capital - Landslide)(5,625,000)
Capital Projects (5,690,000) (2,682,000) (5,748,000) (1,995,000) (1,800,000) (2,870,000)
Loans to Districts (ACLAD and
KCLAD) (3,527,000) - - - - -
Personnel for Capital Programs (1) (80,000) (230,000) (246,100) (263,300) (281,700) (301,400)
Ladera Loan Payment (889,500) (889,500) (889,500) (889,500) (889,500) (889,500)
Total Expenditures (Estimates)(29,096,500) (17,476,500) (6,883,600) (3,147,800) (2,971,200) (4,060,900)
Projected Ending Fund Balance 16,216,650 7,206,200 5,758,600 7,992,640 10,313,440 11,539,340
City Council Restricted Fund
Balance
Less: Reserve Policy (5,000,000) (5,000,000) (5,000,000) (5,000,000) (5,000,000) (5,000,000)
Projected Restricted Balance 11,216,650 2,206,200 758,600 2,992,640 5,313,440 6,539,340
14
Chart 6: CIP Fund Balance Projection
It is important to note that as presented at the FY 2025-26 CIP Budget Workshop on April
29, 2025, Staff reported approximately $78.4 million of unfunded capital projects (see
table below). These projects are not included in the five -year program as the CIP Fund
does not have sufficient funding for the projects. Based on the report, landslide mitigation
efforts are not budgeted in Year 2 through Year 5 and shown as a funding gap. Staff
continues to search for grants and other funding opportunities from local and federal
governments.
Continued on Next Page
15
Table 7: CIP Funding Gap Summary for FY 2025-26 through FY 2029-30 (Presented at
April 29 CIP Budget Workshop)
Special Revenue Fund Balance Projections
The City’s major special revenue funds are Gas Tax, Proposition A, Proposition C,
American Rescue Act Plan (ARPA), Measure R, Measure M, and Measure W. Most of
the funding for special revenues is designated for street maintenance, public rights -of-
way maintenance, and transit-related expenses. Each year, Staff ensures special
revenue funds are utilized for qualified projects before CIP reserves are appropriated.
With respect to the Models forecast, it’s worth keeping in mind that some deficit balances
may result from the timing of grant reimbursements, available funding to be carried
forward, and projected revenues and expenditures that require ongoing review and
adjustments over the long-term. Based on the prior year’s review, the latest model has
programmed future anticipated transfers and adjusted revenues and expenditures to
reduce deficit fund balances. As a result, any notable deficits will be further analyze d and
adjusted to ensure that future expenditures do not exceed revenues.
CONCLUSION:
In conclusion, the FY 2025-26 Model serves as a crucial decision-making tool for the City,
offering a comprehensive long-term financial outlook for use by the City Council and staff.
Based on this information, Staff utilizes the Model regularly, anticipating future needs and
making fiscal adjustments to avoid projected deficits. Also, due to a cautious budgeting
approach, historically, the General Fund’s revenues have exceeded 5% of the proposed
budget, with a spending rate of 95% of the adopted budget. By consistently using these
strategies, the City has traditionally maintained financial stability.
Future operating revenues and expenditures for all funds will be monitored and adjusted
annually to ensure prudent spending and to minimize necessary subsidies from the
FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30
Total
Five-Years
8202 Abalone Cove Sanitary Sewer
Rehabilitation Program - - 1,000,000 1,000,000 1,000,000 3,000,000
8302 Palos Verdes Drive South Landslide Repair
Program - - 825,000 825,000 825,000 2,475,000
8304 Portuguese Bend Landslide Remediation - 19,995,000 2,500,000 2,000,000 1,500,000 25,995,000
8307 Portuguese Bend Landslide Remediation -
Emergency Stabilization Measures - 7,045,000 3,520,000 - - 10,565,000
8503 New Civic Center Campus Master Plan - 5,145,000 5,145,000 - 10,290,000
8701 Storm Drain Asset Management Program
& Master Plan Update - 500,000 500,000 500,000 500,000 2,000,000
8715
Stormwater Drainage Improvements -
Palos Verdes Drive South at Peppertree
Drive
- 320,000 3,005,000 - - 3,325,000
8840 Western Avenue Beautification (Long
Term)225,000 3,000,000 350,000 - - 3,575,000
8856 Roadway Asset Management Program -
Residential Streets 4,345,000 4,825,000 2,450,000 2,740,000 2,800,000 17,160,000
TOTAL 4,570,000 35,685,000 19,295,000 12,210,000 6,625,000 $78,385,000
CIP Funding Gap Summary
Projects
16
General Fund. While the General Fund will need to support several other funds, the
majority of restricted funds are expected to sustain annual operating expenses over the
next decade. These funds will be carefully monitored to ensure they maintain sufficient
funding levels.
While the General Fund is estimated to remain structurally balanced over the 10 -year
forecast based on projected prudent spending and conservative revenue projections, the
Capital Improvement Program (CIP) Fund balance has been significantly depleted.
Without new revenue sources, the City’s ability to fund future capital programs will be
limited, placing additional strain on already constrained General Fund transfers. With over
$78.4 million in unfunded capital projects, this remains a key financial challen ge for the
City.
17
10-Year General Fund Balance Summary and Details
FUND TYPE 2025E 2026B 2027F 2028F 2029F 2030F 2031F 2032F 2033F 2034F
101-GENERAL FUND 1-REVENUES 42,969,264 41,480,200 42,860,737 44,327,027 45,824,406 47,376,112 48,975,961 50,627,165 52,329,149 54,082,192
2-EXPENDITURES 38,545,588 37,156,550 38,910,039 40,480,647 41,901,436 43,381,290 45,064,930 46,660,354 48,463,874 50,183,651
OPERATING SURPLUS/(DEFICIT) 4,423,676 4,323,650 3,950,698 3,846,380 3,922,970 3,994,822 3,911,030 3,966,810 3,865,274 3,898,542
3-TRANSFERS-IN 250,000 320,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000
4-TRANSFERS-OUT 13,015,650 4,643,650 4,298,620 4,254,441 4,158,952 4,147,774 4,083,965 4,017,942 3,940,696 3,860,360
TRANSFERS NET (12,765,650) (4,323,650) (3,698,620) (3,654,441) (3,558,952) (3,547,774) (3,483,965) (3,417,942) (3,340,696) (3,260,360)
TOTAL OVER/(UNDER)(8,341,974) - 252,078 191,939 364,018 447,048 427,065 548,868 524,578 638,182
BALANCE 28,700,000 28,000,000 28,252,078 28,444,017 28,808,035 29,255,083 29,682,147 30,231,015 30,755,594 31,393,776
POLICY RESERVE (50% EXPS.) 16,800,000 17,000,000 17,510,000 18,035,300 18,576,359 19,133,650 19,707,659 20,298,889 20,907,856 21,535,091
EXCESS/(DEFICIENCY)11,900,000 11,000,000 10,742,078 10,408,717 10,231,676 10,121,433 9,974,488 9,932,126 9,847,738 9,858,684
A-1
City o Ranchos Palos Verdes
FY 2024-25 to FY 2029-2030 Draft 5-Year All Special Funds Model
FUND FY 2025 YE FY2026 FY2027 FY2028 FY2029 FY2030
202-GAS TAX (HUTA)BEGINNING BALANCE $1,429,146 $1,010,010 $756,524 $510,624 $272,824 $156,724
REVENUES & TRANSFERS 1,184,600 1,266,514 1,304,500 1,343,600 1,383,900 1,425,400
MAINTENANCE & OPERATIONS -1,603,736 -1,520,000 -1,550,400 -1,581,400 -1,500,000 -1,400,000
CAPITAL 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)(419,136)(253,486)(245,900)(237,800)(116,100)25,400
PROJECTED FUND BALANCE $1,010,010 $756,524 $510,624 $272,824 $156,724 $182,124
203-1972 ACT LANDSCAPE/LIGHT BEGINNING BALANCE $30,818 $31,718 $332,818 $333,940 $335,084 $336,252
REVENUES & TRANSFERS 900 301,100 1,122 1,144 1,167 1,191
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)900 301,100 1,122 1,144 1,167 1,191
PROJECTED FUND BALANCE $31,718 $332,818 $333,940 $335,084 $336,252 $337,442
204-GAS TAX (SB-1)BEGINNING BALANCE $2,177,208 $2,631,008 $3,058,536 $3,419,436 $2,628,736 $2,915,536
REVENUES & TRANSFERS 1,150,100 1,177,528 1,212,900 1,249,300 1,286,800 1,325,400
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
CAPITAL -696,300 -750,000 -852,000 -2,040,000 -1,000,000 -1,000,000
OPERATING SURPLUS/(DEFICIT)453,800 427,528 360,900 (790,700)286,800 325,400
PROJECTED FUND BALANCE $2,631,008 $3,058,536 $3,419,436 $2,628,736 $2,915,536 $3,240,936
209-EL PRADO LIGHTING DISTRICT BEGINNING BALANCE $57,181 $62,181 $67,481 $72,965 $78,641 $84,516
REVENUES & TRANSFERS 5,000 5,300 5,484 5,676 5,875 6,072
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)5,000 5,300 5,484 5,676 5,875 6,072
PROJECTED FUND BALANCE $62,181 $67,481 $72,965 $78,641 $84,516 $90,588
211-1911 ACT STREET LIGHTING BEGINNING BALANCE $2,918,462 $3,278,888 $3,715,188 $3,356,688 $3,893,788 $4,446,988
REVENUES & TRANSFERS 986,800 997,400 1,027,300 1,058,100 1,089,800 1,122,500
MAINTENANCE & OPERATIONS -579,825 -491,100 -505,800 -521,000 -536,600 -552,700
CAPITAL -46,549 -70,000 -880,000
OPERATING SURPLUS/(DEFICIT)360,426 436,300 (358,500)537,100 553,200 569,800
PROJECTED FUND BALANCE $3,278,888 $3,715,188 $3,356,688 $3,893,788 $4,446,988 $5,016,788
213-WASTE REDUCTION BEGINNING BALANCE $524,259 $446,929 $315,629 $180,429 $61,929 $2,329
REVENUES & TRANSFERS 214,700 216,100 222,600 250,000 320,000 400,000
MAINTENANCE & OPERATIONS -292,030 -347,400 -357,800 -368,500 -379,600 -391,000
OPERATING SURPLUS/(DEFICIT)(77,330)(131,300)(135,200)(118,500)(59,600)9,000
PROJECTED FUND BALANCE $446,929 $315,629 $180,429 $61,929 $2,329 $11,329
1 of 6 B-1
City o Ranchos Palos Verdes
FY 2024-25 to FY 2029-2030 Draft 5-Year All Special Funds Model
214-AIR QUALITY MANAGEMENT BEGINNING BALANCE $80,910 $123,210 $166,010 $208,866 $251,779 $294,751
REVENUES & TRANSFERS 42,300 42,800 42,856 42,913 42,971 43,031
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)42,300 42,800 42,856 42,913 42,971 43,031
PROJECTED FUND BALANCE $123,210 $166,010 $208,866 $251,779 $294,751 $337,781
215-PROPOSITION C BEGINNING BALANCE $481,802 $368,602 $113,978 $186,178 $86,078 $1,064,478
REVENUES & TRANSFERS 971,800 895,376 922,200 949,900 978,400 1,007,800
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
CAPITAL -1,085,000 -1,150,000 -850,000 -1,050,000 0 -1,395,000
OPERATING SURPLUS/(DEFICIT)(113,200)(254,624)72,200 (100,100)978,400 (387,200)
PROJECTED FUND BALANCE $368,602 $113,978 $186,178 $86,078 $1,064,478 $677,278
216-PROPOSITION A BEGINNING BALANCE $2,501,376 $2,824,576 $3,060,950 $3,304,350 $3,555,050 $3,813,250
REVENUES & TRANSFERS 1,228,600 1,141,774 1,176,000 1,211,300 1,247,600 1,285,000
MAINTENANCE & OPERATIONS -905,400 -905,400 -932,600 -960,600 -989,400 -1,019,100
OPERATING SURPLUS/(DEFICIT)323,200 236,374 243,400 250,700 258,200 265,900
PROJECTED FUND BALANCE $2,824,576 $3,060,950 $3,304,350 $3,555,050 $3,813,250 $4,079,150
217-PUBLIC SAFETY GRANTS BEGINNING BALANCE $42,739 $64,039 $86,739 $79,497 $72,314 $65,192
REVENUES & TRANSFERS 191,300 192,700 192,758 192,817 192,878 192,939
TRANSFERS OUT -170,000 -170,000 -200,000 -200,000 -200,000 -200,000
OPERATING SURPLUS/(DEFICIT)21,300 22,700 (7,242)(7,183)(7,122)(7,061)
PROJECTED FUND BALANCE $64,039 $86,739 $79,497 $72,314 $65,192 $58,131
220-MEASURE R BEGINNING BALANCE $3,088,902 $3,425,868 $1,664,650 $1,397,350 $584,550 $681,850
REVENUES & TRANSFERS 808,100 758,782 781,500 804,900 829,000 853,900
MAINTENANCE & OPERATIONS -88,430 -125,000 -128,800 -132,700 -136,700 -140,800
CAPITAL -382,704 -2,395,000 -920,000 -1,485,000 -595,000 -340,000
OPERATING SURPLUS/(DEFICIT)336,966 (1,761,218)(267,300)(812,800)97,300 373,100
PROJECTED FUND BALANCE $3,425,868 $1,664,650 $1,397,350 $584,550 $681,850 $1,054,950
221-MEASURE M & MEASURE M GRANTBEGINNING BALANCE $548,310 $433,116 $282,396 $127,996 $3,496 $53,496
REVENUES & TRANSFERS 831,000 2,417,780 2,791,700 850,000 950,000 978,500
MAINTENANCE & OPERATIONS -623,400 -918,500 -946,100 -974,500 -900,000 -890,000
CAPITAL -322,794 -1,650,000 -2,000,000 0 0 0
OPERATING SURPLUS/(DEFICIT)(115,194)(150,720)(154,400)(124,500)50,000 88,500
PROJECTED FUND BALANCE $433,116 $282,396 $127,996 $3,496 $53,496 $141,996
2 of 6 B-2
City o Ranchos Palos Verdes
FY 2024-25 to FY 2029-2030 Draft 5-Year All Special Funds Model
222-HABITAT RESTORATION BEGINNING BALANCE -$28,636 $26,264 $3,864 $3,864 $3,864 $3,863
REVENUES & TRANSFERS 250,900 174,600 202,910 208,997 215,267 221,725
MAINTENANCE & OPERATIONS -196,000 -197,000 -202,910 -208,997 -215,267 -221,725
OPERATING SURPLUS/(DEFICIT)54,900 (22,400)0 (0)(0)(0)
PROJECTED FUND BALANCE $26,264 $3,864 $3,864 $3,864 $3,863 $3,863
223-SUBREGION ONE MAINT BEGINNING BALANCE $798,288 $785,188 $770,088 $789,049 $808,939 $829,804
REVENUES & TRANSFERS 83,300 67,300 70,873 73,359 75,938 78,612
MAINTENANCE & OPERATIONS -96,400 -82,400 -51,912 -53,469 -55,073 -56,725
OPERATING SURPLUS/(DEFICIT)(13,100)(15,100)18,961 19,890 20,865 21,887
PROJECTED FUND BALANCE $785,188 $770,088 $789,049 $808,939 $829,804 $851,691
224-MEASURE A MAINTENANCE BEGINNING BALANCE $46,626 $13,226 $15,926 $180,726 $608,026 $1,048,126
REVENUES & TRANSFERS 26,600 662,700 682,600 703,100 724,200 745,900
MAINTENANCE & OPERATIONS -60,000 -260,000 -267,800 -275,800 -284,100 -292,600
CAPITAL 0 -400,000 -250,000 0 0 0
OPERATING SURPLUS/(DEFICIT)(33,400)2,700 164,800 427,300 440,100 453,300
PROJECTED FUND BALANCE $13,226 $15,926 $180,726 $608,026 $1,048,126 $1,501,426
225-ABALONE COVE SEWER DIST BEGINNING BALANCE $80,937 $86,964 $34,069 $34,710 $36,170 $38,324
REVENUES & TRANSFERS 132,700 82,405 140,000 145,000 150,000 153,000
MAINTENANCE & OPERATIONS -126,673 -135,300 -139,359 -143,540 -147,846 -152,281
OPERATING SURPLUS/(DEFICIT)6,027 (52,895)641 1,460 2,154 719
PROJECTED FUND BALANCE $86,964 $34,069 $34,710 $36,170 $38,324 $39,043
228-DONOR RESTRICT CONTRIB BEGINNING BALANCE $943,162 $978,562 $1,013,762 $1,049,340 $1,085,302 $1,121,653
REVENUES & TRANSFERS 95,400 52,200 52,758 53,327 53,908 54,500
MAINTENANCE & OPERATIONS -60,000 -17,000 -17,180 -17,365 -17,556 -17,753
OPERATING SURPLUS/(DEFICIT)35,400 35,200 35,578 35,962 36,351 36,747
PROJECTED FUND BALANCE $978,562 $1,013,762 $1,049,340 $1,085,302 $1,121,653 $1,158,400
285-IA PORTUGUESE BEND MAINT BEGINNING BALANCE $94,884 $60,684 $26,784 $26,784 $26,784 $26,784
REVENUES & TRANSFERS 16,800 17,100 51,000 51,000 51,000 51,000
MAINTENANCE & OPERATIONS -51,000 -51,000 -51,000 -51,000 -51,000 -51,000
OPERATING SURPLUS/(DEFICIT)(34,200)(33,900)0 0 0 0
PROJECTED FUND BALANCE $60,684 $26,784 $26,784 $26,784 $26,784 $26,784
3 of 6 B-3
City o Ranchos Palos Verdes
FY 2024-25 to FY 2029-2030 Draft 5-Year All Special Funds Model
310-CDBG BEGINNING BALANCE $27,851 $166,626 $166,626 $166,626 $166,626 $166,626
REVENUES & TRANSFERS 150,000 470,000 150,000 150,000 150,000 150,000
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
CAPITAL -11,225 -470,000 -150,000 -150,000 -150,000 -150,000
OPERATING SURPLUS/(DEFICIT)138,775 0 0 0 0 0
PROJECTED FUND BALANCE $166,626 $166,626 $166,626 $166,626 $166,626 $166,626
FUND FY 2025 YE FY2026 FY2027 FY2028 FY2029 FY2030
330-CIP BEGINNING BALANCE $29,592,500 $16,216,650 $7,206,200 $5,758,600 $7,992,640 $10,313,440
REVENUES & TRANSFERS 15,720,650 8,466,050 5,436,000 5,381,840 5,292,000 5,286,800
EMERGENCY STABILIZATION MEASURES -18,910,000 -13,675,000 0 0 0 0
CAPITAL -5,690,000 -2,682,000 -5,748,000 -1,995,000 -1,800,000 -2,870,000
OTHER -4,496,500 -1,119,500 -1,135,600 -1,152,800 -1,171,200 -1,190,900
OPERATING SURPLUS/(DEFICIT)(13,375,850)(9,010,450)(1,447,600)2,234,040 2,320,800 1,225,900
PROJECTED FUND BALANCE $16,216,650 $7,206,200 $5,758,600 $7,992,640 $10,313,440 $11,539,340
CITY COUNCIL RESERVE POLICY -5,000,000 -5,000,000 -5,000,000 -5,000,000 -5,000,000 -5,000,000
PROJECTED RESTRICTED BALANCE $11,216,650 $2,206,200 $758,600 $2,992,640 $5,313,440 $6,539,340
331-FEDERAL GRANT BEGINNING BALANCE $0 $0 $0 $0 $0 $0
REVENUES & TRANSFERS 50,000 2,574,900 0 0 0 0
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
CAPITAL -50,000 -2,574,900 0 0 0 0
OPERATING SURPLUS/(DEFICIT)0 0 0 0 0 0
PROJECTED FUND BALANCE $0 $0 $0 $0 $0 $0
332-STATE GRANT BEGINNING BALANCE $592,055 $1,349,620 $1,395,720 $1,395,720 $1,395,720 $1,395,720
REVENUES & TRANSFERS 959,377 1,883,100 0 0 0 0
MAINTENANCE & OPERATIONS 0 -342,000 0 0 0 0
CAPITAL -201,812 -1,495,000 0 0 0 0
OPERATING SURPLUS/(DEFICIT)757,565 46,100 0 0 0 0
PROJECTED FUND BALANCE $1,349,620 $1,395,720 $1,395,720 $1,395,720 $1,395,720 $1,395,720
333-FEDERAL GRANTS ARPA BEGINNING BALANCE $301,913 $301,913 $303,913 $303,913 $303,913 $303,913
REVENUES & TRANSFERS 3,419,856 2,000 0 0 0 0
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
CAPITAL -3,419,856 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)0 2,000 0 0 0 0
PROJECTED FUND BALANCE $301,913 $303,913 $303,913 $303,913 $303,913 $303,913
4 of 6 B-4
City o Ranchos Palos Verdes
FY 2024-25 to FY 2029-2030 Draft 5-Year All Special Funds Model
334-QUIMBY PARK DEVELOPMENT BEGINNING BALANCE $59,961 $3,741 $12,279 $20,816 $29,352 $37,887
REVENUES & TRANSFERS 3,740 8,538 8,537 8,536 8,535 8,534
MAINTENANCE & OPERATIONS -59,960 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)(56,220)8,538 8,537 8,536 8,535 8,534
PROJECTED FUND BALANCE $3,741 $12,279 $20,816 $29,352 $37,887 $46,421
336-LOW MODERATE INCOME BEGINNING BALANCE $444,018 $524,318 $575,518 $628,553 $683,500 $740,440
REVENUES & TRANSFERS 80,300 51,200 53,035 54,948 56,939 58,903
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)80,300 51,200 53,035 54,948 56,939 58,903
PROJECTED FUND BALANCE $524,318 $575,518 $628,553 $683,500 $740,440 $799,342
337-AFFORDABLE HOUSING PROJ BEGINNING BALANCE $936,238 $963,138 $996,038 $1,029,596 $1,063,825 $1,098,739
REVENUES & TRANSFERS 26,900 32,900 33,558 34,229 34,914 35,612
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)26,900 32,900 33,558 34,229 34,914 35,612
PROJECTED FUND BALANCE $963,138 $996,038 $1,029,596 $1,063,825 $1,098,739 $1,134,351
338-DEVELOP IMPACT MIT (EET)BEGINNING BALANCE $87,237 $93,839 $107,339 $120,909 $134,550 $148,265
REVENUES & TRANSFERS 6,602 13,500 13,570 13,641 13,714 13,789
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
OPERATING SURPLUS/(DEFICIT)6,602 13,500 13,570 13,641 13,714 13,789
PROJECTED FUND BALANCE $93,839 $107,339 $120,909 $134,550 $148,265 $162,053
340-BICYLE/PEDESTRIAN ACCESS BEGINNING BALANCE $0 $0 $32,693 $32,693 $32,693 $32,693
REVENUES & TRANSFERS 42,000 190,693 0 0 0 0
MAINTENANCE & OPERATIONS 0 0 0 0 0 0
CAPITAL -42,000 -158,000 0 0 0 0
OPERATING SURPLUS/(DEFICIT)0 32,693 0 0 0 0
PROJECTED FUND BALANCE $0 $32,693 $32,693 $32,693 $32,693 $32,693
343-MEASURE W BEGINNING BALANCE $1,322,716 $1,522,058 $414,258 $476,558 $540,758 $606,958
REVENUES & TRANSFERS 720,200 704,200 2,533,900 3,665,900 1,013,700 957,100
MAINTENANCE & OPERATIONS -403,000 -652,000 -671,600 -691,700 -712,500 -733,800
CAPITAL -117,858 -1,160,000 -1,800,000 -2,910,000 -235,000 -155,000
OPERATING SURPLUS/(DEFICIT)199,342 (1,107,800)62,300 64,200 66,200 68,300
PROJECTED FUND BALANCE $1,522,058 $414,258 $476,558 $540,758 $606,958 $675,258
5 of 6 B-5
City o Ranchos Palos Verdes
FY 2024-25 to FY 2029-2030 Draft 5-Year All Special Funds Model
681-EQUIPMENT REPLACEMENT BEGINNING BALANCE $3,373,683 $2,736,194 $2,265,065 $1,779,802 $1,279,981 $765,166
REVENUES & TRANSFERS 326,800 310,800 320,124 329,728 339,620 550,000
MAINTENANCE & OPERATIONS -964,289 -781,929 -805,387 -829,548 -854,435 -880,068
OPERATING SURPLUS/(DEFICIT)(637,489)(471,129)(485,263)(499,821)(514,815)(330,068)
PROJECTED FUND BALANCE $2,736,194 $2,265,065 $1,779,802 $1,279,981 $765,166 $435,098
682-EMPLOYEE PENSION PLAN BEGINNING BALANCE $1,042,347 $1,079,847 $854,947 $715,060 $559,174 $386,220
REVENUES & TRANSFERS 432,500 437,100 450,213 463,719 477,631 491,960
MAINTENANCE & OPERATIONS -395,000 -662,000 -590,100 -619,605 -650,585 -683,114
OPERATING SURPLUS/(DEFICIT)37,500 (224,900)(139,887)(155,886)(172,954)(191,154)
PROJECTED FUND BALANCE $1,079,847 $854,947 $715,060 $559,174 $386,220 $195,066
795-IA ABALONE COVE MAINT BEGINNING BALANCE $1,110,297 $1,128,933 $1,128,733 $1,128,067 $1,126,898 $1,125,187
REVENUES & TRANSFERS 20,700 22,800 23,484 24,189 24,914 25,662
MAINTENANCE & OPERATIONS -2,064 -23,000 -24,150 -25,358 -26,625 -27,957
OPERATING SURPLUS/(DEFICIT)18,636 (200)(666)(1,169)(1,711)(2,295)
PROJECTED FUND BALANCE $1,128,933 $1,128,733 $1,128,067 $1,126,898 $1,125,187 $1,122,892
6 of 6 B-6