HomeMy WebLinkAbout12-19-2024Item 8.C
Audited Audited Unaudited Revised
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Forecast Budget
2021-2022 2022-2023 2023-2024 2024-2025 2024-2025 2024-2025
Beginning Fund Balance 21,142,569$ 32,744,800$ 39,070,323$ 9,230,447$ 9,230,447$ 3,476,113$
Measure J Sales Tax Revenue ***22,202,207 21,942,491 21,490,339 4,051,184 21,500,000 23,405,226
Interest Income/Unrealized Gain/Loss (445,703) 348,226 1,083,475 500,000 250,000
Miscellaneous Revenue 13,955 436,028
Total Revenues 21,770,458 22,290,717 23,009,842 4,051,184 22,000,000 23,655,226
Existing Budget Obligations:
Multi-Year Projects:
Street Repairs 5,983,348 7,017,207 4,042,288 6,000,000 6,000,000
Community Initated Projects 13,275 484,592 516,574 6,000,000 6,000,000
Airport Reserve on Aviation Fuel Sales per FAA - - 516,594 16,768 500,000 500,000
Total Multi-Year Projects (Subtotal)5,996,622 7,501,799 5,075,456 16,768 12,500,000 12,500,000
Other Approved Projects and Expenses:
Debt Service (Downtown Revitalization Project)1,402,832 3,138,500 3,133,700 3,133,620 3,133,620
Downtown Maintenance, Landscaping & Security 599,309 607,727 683,698 72,443 400,000 400,000
Transfer Out to Other Funds (PD Radios & Plaza Theatre)- 2,000,000 -
Expenditures 2,169,464 - -
Adopted Capital Projects FY24-25 Expenditures -2,717,168 10,526,564 4,163,089 8,796,500 8,796,500
Cont Appropriations (Carryover) - Community Initiated Prjts - 1,998,834 68,651 -
Cont Appropriations (Carryover) - Capital Projects 31,423,034 4,173,891
Project Cost Over Runs 1,000,000 1,000,000
Parks and Recreation (Cap Prj Cost Over Runs)750,000 750,000
Project Completion Marketing and Communication 8,432 21,906 100,000 100,000
Total Expenditures 10,168,227 15,965,194 52,849,719 8,516,748 26,680,120 26,680,120
Surplus/Deficit 11,602,231 6,325,523 (29,839,876) (4,465,565) (4,680,120) (3,024,894)
Fund Balance Restricted for Measure J Capital 31,649,800 37,775,323 6,742,438 2,310,409 1,562,318 (1,543,781)
Fund Balance Restricted for Airport Projects 1,095,000 1,295,000 2,488,009 2,471,241 2,988,009 1,995,000
Total Fund Balance 32,744,800 39,070,323 9,230,447 4,781,650 4,550,327 451,219
* Note: Effective December 8, 2017, per a Federal Aviation Administration ruling, the City is required to set aside Measure J sales taxes collected on aviation fuel sales for airport project expenses.
City of Palm Springs
Summary of Measure J Funds
Budget
Page 1 of 4 MEASURE J OVERSIGHT COMMISSION MEETING OF DECEMBER 19, 2024
Item 8.C.
CITY OF PALM SPRINGS - Department of Finance
Measure J Summary
Project
Number Project Name Status Project Owner
Balance
06/30/24 FY24-25 Budget Transfers between
Projects
FY24-25
Expenditures
Remaining
Balance
16-08 MAIN LIBRARY RENOVATIONS/JC FREY BUILDING Contract Awarded - Under Design Engineering 8,168,416 1,000,000 188,581 8,979,835
18-06 VICTORIA RTHHRDY RESTROOMS Not Started Engineering 1,585,133 1,434 1,583,699
18-10 DOWNTOWN SFTY BOLLARD PH2 On Hold Engineering - 500,000 500,000
24-52 DOWNTOWN AMPITHEATRE Recommended to Ad Hoc Committee Parks and Rec 754,000 754,000
19-16 PD 911 CAD RMS RFP to be issued soon Police 2,750,000 35,934 2,714,066
19-23 KEYLESSS ENTRY PHASE 2 Scope Development/IT Dept-Complete by the end of year Information Technology 854,348 854,348
19-24 DEMUTH PARK ADA ACCESS PH2 Combined with 21-16 RFP Awarded under design Engineering 1,895,569 318 1,895,251
19-25 LIFE SAFETY IMPRV FIRE SPRKLR Scope Development Public Works 1,400,000 500,000 1,900,000
19-26 EMERGENCY GENERATORS CITYFAC Scope Development Public Works 1,977,500 1,977,500
19-27 HVAC CITY WATER TREATMENT PRGM Not Started/Public Works Public Works 789,750 789,750
19-28 RECREATIONAL LED LIGHTING UPGR
Under Construction completion in April 24 Engineering 1,134,134 193,903 940,231
20-03 PALM CYN INDIAN ROUNDABOUT
Under Design - 75% complete working on Right of way
acquisition Engineering - 249 (249)
20-04 SUNRISE PLAZA HVAC IMPROVEMENTS Not Started/Public Works Public Works 1,050,000 696,500 1,746,500
21-16 DEMUTH DOG PARK Under design (20% complete) Engineering 202,000 202,000
22-19 RELOCATE FIRE STATION 1
RFP being worked for site location Engineering with Fire Dept 416,076 3,600,000 (3,600,000) 15,289 400,787
N/A 260.2 DOWNTOWN MAINT. UNALLOCATED (NO PROJECT)Open Engineering 400,000 72,443 327,557
22-20 COMMUNITY INITIATED PROJECTS (detail on next page)
In Process Engineering 1,998,834 6,000,000 68,651 7,930,183
22-21 PEDESTRIAN STREETS MASTER PLAN Scope Development/will start being worked soon Engineering 980,248 500,000 59,643 1,420,604
22-24 PICKLEBALL COURTS Receiving Community Input Engineering/Parks and Rec 671,161 2,000,000 39,632 2,631,529
22-26 SAN RAFAEL DRIVE TURF CONVERSION
On Hold/sustainablility and public works Public Works with Sustainability 150,000 150,000
22-37-1 AIRP RES-FUEL FAA Open Airport 500,000 16,768 2,971,241
PAVING ANNUAL PAVING REHABILITATION
Bidding - Award in February for Construction Engineering 4,957,712 6,000,000 4,173,891 6,783,821
18-04 PLAZA THEATER Contract Awarded - Construction to begin soon Engineering 3,600,000 3,600,000 -
17-07 NPC PEDESTRIAN ENHANCEMENTS Ongoing Engineering 905,675 905,675
15-07 DOWNTOWN PARK PROJECT Completed - Settling Engineering 781,311 28,105 753,206
SUBTOTAL 33,421,868$ 21,696,500$ -$ 8,494,843$ 47,452,653$
Measure J Interfund Items
DEBT Measure J Debt Service (current year's figures only)N/A 3,133,620
SUBTOTAL 3,133,620$ -$ -$
TOTAL 24,830,120$ 8,494,843$ 47,452,653$
Page 2 of 4 MEASURE J OVERSIGHT COMMISSION MEETING OF DECEMBER 19, 2024
Item 8.C.
CITY OF PALM SPRINGS - DEPARTMENT OF FINANCE
Measure J Community Initiated Projects (Proj. 22-20)
Fiscal Year 2023-24 and Fiscal Year 2024-25 Budget
Number Name Status Project Owner
FY22-23
Budget
FY22-23
Expenditures
FY23-24
Expenditures
FY24-25
Expenditures
Remaining
Balance
2 Playground at Victoria Park In Construction Public Works 58,000 6,119 51,881
4 Add 4 New Pieces of Exercise Equipment at Desert Highland Park In Process Parks and Rec 71,775 71,775
5 Hiking Trail Maintenance and Trailhead Signage Planning Parks and Rec 145,000 145,000
6 Shade Structures at Animal Shelter In Construction Engineering 280,500 152,961 127,539
7 Demuth Dog Park Upgrades to address immediate needs Shade Structure Completed Engineering 362,500 77,484 111,662 40,144 133,210
8 Swim Center Locker Rooms & Fencing between Pool & Pavillion Design in Process Engineering 232,000 78,486 46,406 28,508 78,601
9 Palm Canyon Theatre Maintenance Repairs Scope Development Public Works 280,575 280,575
SUBTOTAL 1,758,975$ 484,592$ 516,574$ 68,651$ 888,581$
Page 3 of 4 MEASURE J OVERSIGHT COMMISSION MEETING OF DECEMBER 19, 2024
Item 8.C
Cash Received Sales Month 2022 2023 2024 2025 % Decrease
from FY24
% Decrease/Increase
from FY23
September July 1,822,150 1,540,230 1,487,482 1,467,451 -1.3% -4.7%
October August 1,581,219 1,377,998 1,328,321 1,289,672 -2.9% -6.4%
November September 1,168,760 1,605,136 1,346,698 1,294,060 -3.9% -19.4%
December October 1,647,727 1,859,813 1,817,484
January November 1,596,592 1,652,208 1,604,673
February December 2,427,595 2,243,210 1,905,261
March January 1,610,555 2,047,619 2,048,288
April February 1,470,266 1,634,560 2,175,885
May March 2,969,057 2,627,922 2,022,367
June April 1,876,707 1,826,741 1,952,939
Accrued May 1,835,468 1,874,810 1,808,378
Accrued June 2,196,109 1,652,244 1,859,058
Total 22,202,207 21,942,491 21,356,835 4,051,184 -4.0%
Note: Prior YTD 4,162,501
MEASURE J
Page 4 of 4 MEASURE J OVERSIGHT COMMISSION MEETING OF DECEMBER 19, 2024