CC - Item 7A - Adoption of the Fiscal Year Operating and Capital Improvement BudgetROSEMEAD CITY COUNCIL
STAFF REPORT.
TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: GLORIA MOLLEDA, CITY MANAGER
DATE: JUNE 11, 2019
SUBJECT: ADOPTION OF ,THE FISCAL YEAR 2019-20 OPERATING AND
CAPITAL IMPROVEMENT BUDGET
SUMMARY
The City Council will consider the. adoption of the City's Fiscal Year (FY) 2019-20 Operating
and Capital Improvement Budget, which provides for total appropriations of $38,873,700. The
General Fund operating budget of $23,891,700, is balanced with a surplus for, the upcoming year.
Consequently, a full scope of services to residents will be continued without service reductions,
ANALYSIS
Two budget workshops were held with the
The General Fund operating budget has
estimated surplus of $160,667 and stateg
changes were made to the draft budget a
changes are snmmari ,ed below:
City Council on May 14, 2019 and May 28, 2019.
r surplus of $971,200; the surplus comprises of
ant reimbursements of $810,533. Some financial
presented at the last workshop. The significant
1. During the 2°a budget workshop, staff, reduced the Parks and Recreation budget request
by $160,600. Staff decided to withdraw the initial. request of adding a Parks and
Recreation _ Manager position and will reevaluate the need in the future. Staff also
reduced part-time hours request after reevaluating. staffing hoursrequired for special.
events and programs:
2. During the 211Lbudget workshop, City Council approved the addition of the Garvey Park
Main Office Renovation to the FY 2019-20 Capital Improvement Budget. This project is
funded by the General Fund in the amount of $200,000.
Capital Improvement Projects (CII')',
The FY 2019-20, proposed budget, commits. $4,500,800 for CIP-projects. This total includes
$445,000 from the General Fund, $800,000 from the Gas Tax Fund; $914,800 from the RMRA
S134 Fund, $133,000 from the Local Transportation Grant Fund, $500,000 from the Proposition
AGENDA ITEM NO: 7.A
City Council Meeting
June 11,2019
Page 2 of 2
C Fund, $692,000 from the Measure R Fund, $700,000 from the Measure M Fund, and $316,000
from CDBG Fund.
The FY 2019-20 Proposed Budget has CIP carryovers of$6,768,890 that remain unexpended as
of June 30, 2019. These commitments were approved by the City Council in prior years and will
be re-appropriated to the 2019/20 Fiscal Year.
General Fund Balance Policy
The FY 2019-20 General Fund revenues are projected to be $24,862,900 and General Fund
expenditures are $23,891,700. The unassigned fund balance at the end of FY 2019-20 is
projected to be $12.5 million, which represents 50% of operating revenues. The City also
maintains the required 31% of operating revenues as Committed Fund Balance.
STAFF RECOMMENDATION
It is recommended that the City Council take the following actions:
1. Adopt Resolution No. 2019-29 approving the City of Rosemead's Operating and Capital
Improvement Budget for the 2019-20 Fiscal Year.
2. Adopt Resolution No. 2019-04 approving the Housing Development Corporation's
Operating and Capital Improvement Budget for the 2019-20 Fiscal Year.
FISCAL IMPACT
The FY 2019-20, total revenues are $40,323,100 and total appropriations are $38,873,700. This
total includes $4,500,800 toward Capital Improvement Projects.
STRATEGIC PLAN IMPACT—None
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Prepared by:
Pearl Lieu, Finance Director
Attachment A: Resolution No. 2019-29
Attachment B: Resolution No. 2019-04 RHDC
Attachment C: Proposed FY 2019-20 Operating and Capital Improvement Budget
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Attachment A
Resolution No. 2019-29
RESOLUTION NO.2019-29
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD, CALIFORNIA, ADOPTING THE ANNUAL
OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR THE
2019-20 FISCAL YEAR
WHEREAS,a proposed annual budget for the City of Rosemead, California for the Fiscal
Year commencing July 1,2019 and ending June 30,2020 was submitted to the City Council for its
review and consideration and the proposed annual budget is on file in the City Clerk's office; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMEAD, DOES
HEREBY RESOLVE, DECLARE,DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1.The 2019-20 Annual Operating and Capital Improvement Program Budget is
hereby adopted in the amount of$38,873,700.
SECTION 2. There is hereby appropriated to each account group set forth in the "Detail
Budget"of said budget attached hereto, and made a part hereof as though fully set forth herein,the
sum shown for such account groups in the 2019-20 Adopted Column.
SECTION 3.The City Clerk shall certify to the adoption of this resolution and hereafter the
same shall be in full force and effect.
PASSED, APPROVED, AND ADOPTED this 11th day of June, 2019.
Margaret Clark, Mayor
APPROVED AS TO FORM: ATTEST:
Rachel Richman, City Attorney Ericka Hernandez, City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) §
CITY OF ROSEMEAD )
I,Ericka Hernandez,City Clerk of the City Council of the City of Rosemead,California,do hereby
certify that the foregoing City Council Resolution, No. 2019-29, was duly adopted by the City
Council of the City of Rosemead, California, at a regular meeting thereof held on the 11th day of
June, 2019,by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
Ericka Hernandez, City Clerk
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Attachment B
Rosemead Housing Development Corporation
Resolution No. 2019-04 RHDC
RESOLUTION NO. 2019-04 RHDC
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION ADOPTING THE ANNUAL OPERATING AND
CAPITAL IMPROVEMENT BUDGET FOR THE 2019-20 FISCAL
YEAR
WHEREAS, a proposed annual budget for the Rosemead Housing Development
Corporation for the Fiscal Year commencing July 1,2019 and ending June 30,2020 was submitted
to the Housing Development Corporation Board of Directors for its review and consideration and the
proposed annual budget is on file in the Corporation Secretary's office; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMEAD, DOES
HEREBY RESOLVE, DECLARE, DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1.The 2019-20 Annual Operating and Capital Improvement Program Budget is
hereby adopted in the amount of$910,400.
SECTION 2. There is hereby appropriated to each account group set forth in the "Detail
Budget"of said budget attached hereto,and made a part hereof as though fully set forth herein,the
sum shown for such account groups in the 2019-20 Adopted Column.
SECTION 3.The Corporation Secretary shall certify to the adoption of this resolution and
hereafter the same shall be in full force and effect.
PASSED, APPROVED, AND ADOPTED this 11th day of June, 2019.
Margaret Clark, Mayor
APPROVED AS TO FORM: ATTEST:
Rachel Richman, City Attorney Ericka Hernandez, City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) §
CITY OF ROSEMEAD )
I,Ericka Hernandez,City Clerk of the City Council of the City of Rosemead,California,do hereby
certify that the foregoing City Council Resolution, No. 2019-04 RHDC, was duly adopted by the
City Council of the City of Rosemead,California,at a regular meeting thereof held on the 11th day
of June, 2019,by the following vote,to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
Ericka Hernandez, City Clerk