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2/4/13
<br />3
<br />Public Employees Retirement System (PERS) Rates
<br />Historical Data, 1993-94 Thru 2015-16
<br /> 11.81
<br /> 11.81
<br /> 13.51
<br /> 0.01
<br /> 13.41
<br /> 1.47
<br /> - - - -
<br /> 5.67
<br /> 34.25
<br /> 40.04
<br /> 40.38
<br /> 42.31
<br /> 42.83
<br /> 41.56
<br /> 42.58
<br /> 46.68
<br /> 48.41
<br /> 49.88
<br /> 51.70
<br /> 53.60
<br /> 6.87 6.89 6.89
<br /> 6.71 10.17
<br /> 10.47
<br /> 1.64
<br /> - - -
<br /> 2.50
<br /> 9.36
<br /> 14.66
<br /> 13.25
<br /> 13.28
<br /> 13.46
<br /> 13.50
<br /> 13.22
<br /> 17.55
<br /> 21.78
<br /> 22.70
<br /> 25.10
<br /> 25.80
<br />
-‐
<br />
10
<br />
20
<br />
30
<br />
40
<br />
50
<br />
60
<br />93-94 94-95
<br />
<br />95-96
<br />
<br />96-97
<br />
<br />97-98
<br />
<br />98-99
<br />
<br />99-00
<br />
<br />00-01
<br />
<br />01-02
<br />
<br />02-03
<br />
<br />03-04 04-05
<br />
<br />05-06
<br />
<br />06-07
<br />
<br />07-08
<br />
<br />08-09
<br />
<br />09-10
<br />
<br />10-11
<br />
<br />11-12
<br />
<br />12-13
<br />
<br />13-14 14-15
<br />
<br />15-16
<br />
<br />Public
Safety
Miscellaneous
<br />2% @ 50 PS
<br />2% @ 60 Misc
<br />3% @50 PS
<br />IRR
<br />-24%
<br />IRR - Investment Rate of Return
<br />2.5% @55
<br />MISC
<br />19
<br />New Pension Reporting
<br />GASB 67and 68
<br />• New pension reporting requires governments
<br />providing defined benefit pensions to:
<br />1. Recognize long-term obligation as liabilities
<br />on balance sheet for the first time
<br />2. Measure annual pension benefit costs more
<br />comprehensively and comparably
<br />3. Enhance pension plans note disclosures and
<br />required supplementary information
<br />• GASB 67 implementation in 2013-14
<br />• GASB 68 implementation in 2014-15
<br />20
21
<br />2012-13 Financial Status Report
<br />As of December 31, 2012
<br />
<br />22
<br />Description Adopted Budget YTD 12/31/12
<br />% of
<br />Budget
<br />Revenues - Taxes:
<br />Property tax 17,004,000$ 8,860,000$ 52%
<br />Sales tax 20,073,000 8,499,000 42%
<br />Transaction & Use tax (Meas Z)3,819,000 1,548,000 41%
<br />Utility Users tax 10,100,000 3,879,000 38%
<br />Franchise Fees 4,141,000 1,029,000 25%
<br />Property Transfer tax 2,519,000 1,329,000 53%
<br />Emergency Communication Access tax (911)2,800,000 918,000 33%
<br />Business license tax 4,425,000 675,000 15%
<br />Other taxes 303,000 109,000 36%
<br /> Total Taxes 65,184,000$ 26,846,000$ 41%
<br />GENERAL FUND
<br />2012-13 Financial Status Report
<br />As of December 31, 2012 (cont.)
<br />23
<br />Description Adopted Budget YTD 12/31/12
<br />% of
<br />Budget
<br />Revenues - Other:
<br />Charges for services 2,661,000$ 1,238,000$ 47%
<br />Interest & Property income 1,051,000 330,000 31%
<br />Fines, Fees & Forfeitures 1,240,000 413,000 33%
<br />Intergovernmental 917,000 755,000 82%
<br />Licenses & Permits 1,596,000 782,000 49%
<br />Interdepartmental 2,002,000 1,001,000 50%
<br />Other/Transfers 447,000 178,000 40%
<br /> Total Other Revenues 9,914,000$ 4,697,000$ 47%
<br />Total Revenues 75,098,000$ 31,543,000$ 42%
<br />GENERAL FUND
<br />2012-13 Financial Status Report
<br />As of December 31, 2012 (cont.)
<br />24
<br />Description Adopted Budget YTD 12/31/12
<br />% of
<br />Budget
<br />Expenditures:
<br />General Administration (Council, Clerk, City
<br />Attorney, City Manager & Human Resources)
<br />3,871,000$ 1,742,000$ 45%
<br />Finance 2,299,000 1,097,000 48%
<br />Police 25,331,000 12,728,000 50%
<br />Fire 18,889,000 7,799,000 41%
<br />Recreation & Human Services 3,990,000 2,013,000 50%
<br />Engineering & Transportation 2,461,000 1,233,000 50%
<br />Library 4,680,000 2,217,000 47%
<br />Public Works 4,292,000 2,005,000 47%
<br />Community Development 3,851,000 1,645,000 43%
<br />Non-Departmental 1,302,000 649,000 50%
<br />Debt Service 4,866,000 2,119,000 44%
<br />Transfers 257,000 817,000 318%
<br />Total Expenditures 76,089,000$ 36,064,000$ 47%
<br />GENERAL FUND
<br />25
<br />General Fund Seven Year Forecast Assumptions
<br />2012-13 thru 2018-19
<br />26
<br />2012-13
<br />Projected
<br />2013-14
<br />Budget
<br />2014-15
<br />Budget
<br />2015-16
<br />Budget
<br />2016-17
<br />Budget
<br />2017-18
<br />Budget
<br />2018-19
<br />Budget Notes
<br />Sales tax 16,153 16,956 17,563 18,233 18,961 19,754 20,544 used MuniServices optimistic scenario
<br />Sales tax backfill 5,437 5,948 5,953 6,140 6,367 6,535 6,714 used MuniServices optimistic scenario
<br />Transaction tax 4,180 4,299 4,515 4,692 4,876 3,822 - ends 3/31/18; used optimistic scenario
<br />Property tax 5.0%3.0%3.0%2.0%2.0%2.0%2013-14 reflects increase in assessed values from
<br />2011-12 to 2012-13 published July 2012
<br />Utility user's tax 1.0%1.0%1.0%1.0%1.0%1.0%based on actual increases over the past 3 years
<br />Business License 3.0%2.0%2.0%2.0%2.0%2.0%CPI + businesses closing & opening
<br />All other revenues 1.0%1.0%1.0%1.0%1.0%1.0%conservative approach
<br />Description
<br />REVENUES
<br /> (in thousands)
<br />General Fund Seven Year Forecast Assumptions
<br />2012-13 thru 2018-19
<br />27
<br />EXPENDITURES
<br />2012-13
<br />Budget
<br />2013-14
<br />Budget
<br />2014-15
<br />Budget
<br />2015-16
<br />Budget
<br />2016-17
<br />Budget
<br />2017-18
<br />Budget
<br />2018-19
<br />Budget Notes
<br />Salary adjustments 0.5%0.5%0.5%2.5%2.5%2.5%2.5%step increases and possible adjustments
<br />Medical rates 5.0%10.0%10.0%10.0%10.0%10.0%10.0%estimated health care cost increases
<br />PERS rates:
<br />Safety (refinanced 2012)35.40%40.20%42.20%44.20%46.20%48.20%20.70%
<br />Miscellaneous 29.78%33.45%35.75%36.50%38.50%40.50%25.10%
<br />Retiree Medical *$900k $950k $1,000k $1,000k $1,000k $1,000k $1,000k increase in retiree's and medical costs
<br />Services and supplies 1.0%1.0%1.0%1.0%1.0%1.0%1.0%
<br />Consulting 2.0%2.0%2.0%2.0%2.0%2.0%
<br />Legal fees 3.0%2.8%3.0%3.0%3.0%3.0%3.0%CPI
<br />Fire service fees 3.8%3.0%3.0%3.0%3.0%3.0%3.0%CPI
<br />OPEB trust account *$250k $750k $750k $500k $500k $500k $500k increased trust account to average $500k per year
<br />Description
<br />based on 10/2012 CalPERS forecast;
<br />estimated 2017, 2018 & 2019. 1/1/18 50/50
<br />employees share EE portion
<br />* The ARC is $1,639,000 per year and is partially funded in the Retiree Medical and OPEB trust
<br />accounts.
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