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 (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 for FY 2027 includes revenues and expenditures for all the City's Funds. The document includes sufficient funding for ongoing operations as well as scheduled projects in the Capital Improvements Plan (CIP).
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 of structural cost pressures deserves 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 on-going revenues of $118,965,764 exceeding ongoing expenditures of $116,993,996. When taking into account non-recurring expenditures (one-time costs and capital purchases) and net transfers to other funds, there is a projected decrease in fund balance of $9,588,758.
On-going Revenue
$118,965,764
On-going Expenditures
$...
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