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FY 2023-24 Third Quarter Budget Report and Proposed Appropriation Adjustments
<br />June 4, 2024
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<br />revenues collected for the third quarter were $3,755,757, representing only 53%
<br />of the annual budget estimate of $7,041,000. Therefore, staff has decreased the
<br />annual revenue for plan check by $2,777,860. When the building code changed
<br />in December 2022 there was a rush to get plans in under the old code. That FY
<br />2022-23 rush and the high interest rate environment has resulted in a slowdown
<br />of activity for FY 2023-24. The overall net revenue reduction is $1,318,960
<br />($1,458,900 increase + $2,777,860 decrease).
<br />•As reported previously, due to the PP-GEMT program of increased
<br />reimbursements for Medicare and Medi-Cal transports, Paramedic Service
<br />Charge revenue has increased. As a result, staff is recommending another
<br />increase of $4,173,785, which brings the revised budget to a total of
<br />$14,173,785.
<br />•The jail revenue continues to decline due to staffing challenges and deferred
<br />maintenance, which prevents the jail from operating at full capacity. Therefore,
<br />staff recommends a decrease of $4,200,000 in jail revenue, bringing the revised
<br />budget total to $12,950,000. While the City continues to develop a plan to
<br />improve hiring at the jail, the FY 2024-25 budget includes recommendations to
<br />improve maintenance. Both solutions will be necessary to generate additional
<br />revenue
<br />Summary of Changes to General Fund Revenue Estimates
<br />Sales Tax (Bradley-Burns)$(1,626,700)
<br />Sales Tax (Measure X)$(2,333,460)
<br />Gas Franchise Fee $247,465
<br />Electric Franchise Fee $417,090
<br />Utility User Tax – Electricity $500,000
<br />Earnings on Investments $1,000,000
<br />Building & Planning Revenues $(1,318,960)
<br />Paramedic Service Charges $4,173,785
<br />Jail Revenues $(4,200,000)
<br />Estimated Revenue Reduction $(3,140,780)
<br />Corresponding adjustment to 18% Reserve $565,340
<br />Net Impact of Revenue Adjustments $(2,575,440)
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<br />City Council 13 – 4 6/4/2024
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