Item 26 - Early Direction for the Fiscal Year 2024-25 Budget

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Early Direction for the Fiscal Year 2024-25 Budget March 19, 2024 Page 8 4 1 3 1 Measure X sales tax increase would have on auto sales. This 5-year program is currently funded by the General Fund and the agreement is set to expire in March 2024. The dealerships have requested a 10-year extension of the program at $1 million per year. Actual program expenditures since inception and the current year budget follow. FY19-20 $937,500 FY20-21 $860,000 FY21-22 $649,500 FY22-23 $651,500 FY23-24 to date $606,000 FY23-24 budget $1,700,000 Staff does not recommend extending the program. As an alternative, City Council could consider an extension to March 31, 2029 (the last day of the 1.5% Measure X rate), with a smaller funding allocation. Shall staff prepare an extension of the program for City Council consideration and include a Vehicle Incentive Program allocation in the proposed FY 2024-25 budget? City Events The City Events budget for the current year includes a $1,581,640 allocation from recurring revenue and $900,000 from one-time resources. The FY 2024-25 draft proposed budget is $1,605,700 with no one-time allocations. This does not include Public Safety support for these events; which to date, has been absorbed by the Public Safety budgets using staff vacancy savings. Event Approximate Current Year Allocations Current Year One-Time Allocation Proposed FY24-25 Allocations Easter $35,000 $45,000 Juneteenth $55,000 $41,000 Movie Series $65,000 $70,000 Fourth of July $105,000 $100,000 Concert Series $60,000 $70,000 Birch Series $18,640 $0 Indigenous Peoples’ Day $30,000 $31,000 Chicano Heritage $145,000 $125,000 Fiestas Patrias $530,000 $475,000 Santa Ana Holidays $290,000 $900,000 $240,000 Mid-Autumn Festival $60,000 $75,000 Recreation Section Events $3,000 $117,700