TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Finance Director
Emy-Rose Hanna, Financial Services Manager
Alexis Motonaga, Budget & Financial Analyst
SUBJECT:Title
Presentation of the Fiscal Year 2027 Proposed Operating Budget and Consideration of CERT Funding Request (Continued) (Not Budgeted) (Finance Director Bretthauer).
(Estimated Time: 1 Hr.)
DISCUSS AND PROVIDE DIRECTION
Body
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RECOMMENDATION:
Staff recommends that the City Council receive this report on the Proposed Operating Budget for Fiscal Year (FY) 2027 and provide direction.
FISCAL IMPLICATIONS:
The Proposed Budget reflects a strategic and thoughtful approach to using accumulated General Fund reserves to address current needs and capital improvement goals. The long-term outlook for structural cost pressures warrants continued attention and proactive measures to ensure the City's outstanding municipal services are maintained while meeting other intensifying funding obligations for pension costs and insurance claims. After years of prudent fiscal decision-making, strong foundational policies and long-term forecasting practices, Manhattan Beach is well-positioned to navigate these budget challenges and mitigate any operational impacts.
The FY 2027 General Fund Proposed Budget has a projected structural budget surplus of $1,971,768 based on ongoing revenues of $118,965,764 exceeding ongoing expenditures of $116,993,996. When non-recurring expenditures (one-time costs and capital purchases) and net transfers to other funds are taken into account, the projected decrease in fund balance is $9,588,758.
On-going Revenue
$118,965,764
On-going Expenditures
$116,993,996
FY 2027 Structural Budget Surplus
$1,971,768
Non-recurring Equipment Replacements
($436,900)
Transfer Out to Street Lighting Fund
($270,376)
Transfer Out to Capital Improvement Fund
($5,000,000)
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