Item 40 - Public Hearing Fiscal Year 2024-25 Budget

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Proposed Fiscal Year 2024-25 City Budget, Changes to the City's basic classification and compensation plan, Uniform Schedule of Miscellaneous Fees, and the Seven -Year Capital Improvement Program June 4, 2024 Page 3 Beginning Balance $ 127,208,578 $ 93,209,914 Revenue $ 397,776,999 $ 406,527,340 Expenditures $ (369,164,519) $ (375,665,770) Net Transfers $ (46,325,224) $ (32,800,290) Net Activity $ (17,712,744) $ (1,938,720) Pension Stabilization $ (16,285,920) $ (10,531,020 Estimated Ending Balance $ 93,209,914 $ 80,740,174 Reserve Requirement (18%)* $ 71,583,046 $ 73,174,921 *Excludes One -Time Revenues Based on City Council direction from the May 16 Budget Work Session, Staff has incorporated the following changes into the proposed General Fund budget: • Santa Ana Holidays (Winter Village) eliminated. • Increase Arts funding in the Community Development Agency's budget by $120,000. • Increase Senior Programming in the Parks, Recreation and Community Services Agency budget by $120,000. • Reduced funded Police Officers by two (2) based on County cancellation of the Civic Center Security MOU. The authorized sworn headcount of 400 does not change. • Remove the addition of a Fleet Services Technician to help rebalance the budget. • MET Program expenditures in the Police Department have been reallocated to other Police Department programs. In addition, the Third Quarter Budget Report on this agenda includes a recommended $4 million budget for the Dog Park. A full reconciliation of changes from the adjusted FY 2023-24 General Fund budget to the proposed FY 2024-25 General Fund budget is included in Exhibit 2. City Council policy requires a General Fund Reserve equivalent to 18% of recurring annual General Fund revenue. Staff estimates the General Fund Reserve at June 30, 2024 will be