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2/4/13
<br />1
<br />Financial Overview and City Manager Report
<br />• Acknowledgements – Community, Council, Employees –
<br />Past and Present
<br />• General Fund focus – unfunded liabilities
<br />• Local Economic Conditions
<br />• Historical View – City budget, General Fund
<br />• Mid-year Status - General Fund
<br />• Forecast – General Fund projection through 2018-19
<br />• Services/Infrastructure Trends and Data (see handout)
<br />• Budget Considerations
<br />• Budget Calendar
<br />1
<br />General Fund Focus
<br />
<br />Estimated Short-term unfunded liabilities:
<br />
<br />2
<br />1. ICFG unbudgeted payment $400,000 1 year
<br />2. Fiber EDA grant match 560,000 1 year
<br />3. RDA legal fees not covered by ROPs 100,000 1 year
<br />4. General Plan/Housing Element update 1,000,000 2 years
<br />5. COPs grant expiration 900,000 1 year
<br />Total $2,960,000
<br />General Fund Focus
<br />
<br />Estimated Long-term unfunded liabilities:
<br />
<br />3
<br />1. Miscellaneous/Safety unfunded OPEB
<br />(ARC is $1,639,000)
<br /> $16,179,000
<br />2. Miscellaneous unfunded CalPERS
<br />(ARC is $4,893,478)
<br />36,625,000
<br />3. Safety unfunded CalPERS
<br />(ARC is $3,085,446)
<br />47,597,000
<br />
<br />4. Fire Department unfunded OPEB
<br />(ARC is $1,636,000)
<br />18,418,000
<br />
<br />Total $118,819,000
<br />General Fund Focus
<br />
<br />Estimated Project-based unfunded liabilities:
<br />
<br />4
<br />1. Burrell Field annual maintenance and field
<br />replacement costs (Scenario A)
<br />Annual cost $ 146,000*
<br />2. Marina Boulevard design improvements
<br />(Kaiser and Shoreline)
<br />Annual cost
<br />(for 2 years) 495,000
<br />3. Streets and Road improvements (PCI 70) On-going 80,000,000
<br />4. Capital Improvements Program (CIP) On-going 225,000,000
<br />5. Kaiser overlay plan One-time 250,000
<br />6. Community events Annual 100,000
<br />7. Historic preservation Annual 100,000
<br />8. Neighborhood beautification Annual 300,000
<br />* Annual costs paid by whom?
<br />Local Economic Conditions on
<br /> San Leandro’s Budget
<br />• Property tax
<br />– Assessed values increasing
<br />– Revenues rebounding, estimated to exceed 2008-09 high-point
<br />• Sales tax
<br />– Consumer confidence on the rise
<br />– Revenues increasing and exceeded 2006-07 high-point
<br />– Measure Z sales tax revenues to end March 31, 2018
<br />• Utility Users tax
<br />– Unemployment rates declining – customers paying bills
<br />– Revenues slowly edging back to the 2007-08 level
<br />• Continued fallout from RDA dissolution
<br />5
<br />Economic Conditions (cont.)
<br />• San Leandro overall property assessed values
<br />increasing 5%
<br />• Home Foreclosure rates for 2012 (Zillow.com):
<br />– San Leandro decreased to 99 from a high of 250/year in 2008
<br />– Alameda County decreased to 2,073 from a high of 4,604/year in
<br />2008
<br />• Unemployment rates for December 2012 (EDD):
<br />– San Leandro = 8.1%
<br />– Alameda County = 8.2%
<br />• Compensation increasing in 2014 by 3% and 2015
<br />increasing by 6.5%
<br />• Labor negotiations
<br />
<br />6
<br />7
<br />General Fund Reserves
<br />Historical Data, 2006-07 thru 2012-13
<br />8
<br />
10,498,000
10,033,000
<br />
7,694,184
<br />
3,796,473
3,796,473
<br />
5,935,049
5,796,000
<br />
5,000,000
5,000,000
<br />
5,000,000
<br />
5,000,000
5,000,000
<br />
5,000,000
5,000,000
<br />
-‐
<br />
2,000,000
<br />
4,000,000
<br />
6,000,000
<br />
8,000,000
<br />
10,000,000
<br />
12,000,000
<br />
14,000,000
<br />
16,000,000
<br />
18,000,000
<br />2006-‐07
2007-‐08
2008-‐09
2009-‐10
2010-‐11
2011-‐12
2012-‐13
<br />Economic
Uncertainty
Major
Emergencies
20%
of
OperaCng
Expenditures
<br /> 2012-13 Budget – Expenditures for All Funds
<br />9
<br />General
Fund
<br />$76,090,000
<br />64%
<br />Special
Revenue
Funds
<br />$8,972,000
7%
<br />Capital
Project
Funds
<br />$185,000
0%
<br />Debt
Service
Funds
<br />$2,915,000
2%
<br />Enterprise
Funds
<br />$13,850,000
<br />12%
<br />Internal
Service
Funds
<br />$11,509,000
<br />10%
<br />Successor
Agency
Funds
<br />$5,934,000
5%
<br />$119,455,000
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