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HomeMy WebLinkAbout5/18/2011 - STAFF REPORTS - 5.A. Fiscal Year 2011-12 Proposed Budget Redevelopment Agency May 18, 201 l ITEM NO. h.P . City of Palm Springs Table of Contents Community Redevelopment Agency Consolidated Project Area.............................. page 1 Summary Cash Projection................................ page 2 Merged Area 1................................................. page 3 Merged Area 2................................................. page 4 Housing..........................................................page 6 Capital Projects............................................... page 6 Community Redevelopment Agency Consolidation Project Area FY 10-11 FY 10-11 FY 11-12 Adopted Revised Proposed Cash Balance, beginning 15,996,997 4,646,462 Revenue Tax Increment 20,230,000 17,491,000 16,078,000 Reserve for Appeals (410,000) (410,000) (410,000) Pass Thru Desert Water 970,000 790,400 607,600 Interest/Other 503,000 62,000 60,500 Bond Proceeds 0 179,000 0 Intrafund Loans- In 2,011,785 2,011,785 2,011,785 Total Revenue 23,304,785 20,124,185 18,347,885 Appropriations Personnel Costs 387,868 387,868 400,540 Downtown Develop 144,000 144,000 144,000 Contract/Material 330,800 406,065 342,300 Administration 243,298 264,581 250,404 Capital Projects 500,000 10,625,721 800,000 Pass Thru 6,096,671 9,793,298 8,666,058 Housing Set-Aside 2,416,000 2,256,820 3,215,600 Debt Service 6,960,852 3,384,582 3,377,610 Convention Ctr Debt 1,600,000 1,600,000 1,600,000 Property Debt Service 5,025,000 600,000 0 Intrafund Loans- Out 2,011,785 2,011,785 2,011,785 Total Appropriations 25,716,274 31,474,720 20,808,297 Net Change (2,411,489) (11,350,535) (2,460,412) Estimated Cash Balance, end of year 4,646,462 2,186,050 Note: Project Area mergers are scheduled for Public Hearing on June 5, 2011. Second Reading is scheduled for July 15, 2011. Consolidated Project Area will be effective August 6, 2011 City of Palm Springs FY 2012 Proposed Budget Community Redevelopment Agency Summary Cash Projection Merged Area Merged Area Subtotal Merged #1 #2 Area#1 &#2 Housing Total Adjusted Cash 7/1/10 13,977,291 2,019,706 15,996,997 7,615,777 23,612,774 FY 10-11 Revenue 13,201,865 6,922,320 20,124,185 4,468,435 24,592,620 Appropriations (24,612,498) (6,862,222) (31,474,720) (6,658,496) (38,133,216) Estimated Cash 6130/11 2,566,658 2,079,804 4,646,462 5,425,716 10,072,178 FY 11-12 Revenues 11,955,745 6,392,140 18,347,885 4,313,959 22,661,844 Appropriations (13,764,770) (7,043,527) (20,808,297) (2,919,986) (23,728,283) Estimated Cash 6/30/12 757,633 1,428,417 23186,050 6,819,689 9,005,739 City of Palm Springs FY 2012 Proposed Budget Community Redevelopment Agency Merged Area #1 FY 10-11 FY 10-11 FY 11-12 Adopted Revised Proposed Cash Balance, beginning 13,977,291 2,566,658 Revenue Tax Increment 12,330,000 11,284,000 10,315,000 Reserve for Appeals (250,000) (250,000) (250,000) Pass Thru Desert Water 630,000 522,080 378,960 Other 411,000 0 45,000 Bond Proceeds 0 179,000 0 Intrafund Loans- In 1,466,785 1,466,785 1,466,785 Total Revenue 14,687,785 13,201,865 11,955,745 Appropriations Personnel Costs 195,633 195,633 200,270 Downtown Develop 144,000 144,000 144,000 Contract/Material 266,800 338,918 278,300 Administration 156,854 178,137 166,325 Capital Projects 500,000 9,079,438 400,000 Pass Thru 4,787,668 5,856,639 5,793,936 Housing Set-Aside 2,416,000 3,498,220 2,063,000 Debt Service 1,956,530 1,954,728 1,952,154 Convention Ctr Debt 1,300,000 1,300,000 1,300,000 Property Debt Service 2,520,000 600,000 0 Intrafund Loans-Out 1,466,785 1,466,785 1,466,785 Total Appropriations 15,710,270 24,612,498 13,764,770 Net Change (1,122,485) (11,410,633) (1,809,025) Estimated Cash Balance, end of year 2,566,668 757,633 Merged Area #1 Tax Increment 12,500,000 12,000,000 11,500,000 11,000,000 10,500,000 10,000,000 9,500,000 9,000,000 FY 10-11 Adopted FY 10-11 Revised FY 11-12 Proposed J City of Palm Springs FY 2012 Proposed Budget Community Redevelopment Agency Merged Area #2 FY 10-11 FY 10-11 FY 11-12 Adopted Revised Proposed Cash Balance, beginning of year 2,019,706 2,079,804 Revenue Tax Increment 7,900,000 6,207,000 5,763,000 Reserve for Appeals (160,000) (160,000) (160,000) Pass Thru Desert Water 340,000 268,320 228,640 Bond 0 0 0 Interest/Other 92,000 62,000 15,500 Intrafund Loans- In 545,000 545,000 545,000 Total Revenue 8,717,000 6,922,320 6,392,140 Appropriations Personnel Costs 192,235 192,235 200,270 Downtown Develop 0 0 0 Contract/Material 64,000 67,147 64,000 Administration 86,444 86,444 84,079 Capital Projects 0 1,546,283 400,000 Pass Thru 1,309,003 3,936,659 2,872,122 Set-Aside 0 (1,241,400) 1,152,600 Debt Service 5,004,322 1,429,854 1,425,456 Conv Ctr Debt 300,000 300,000 300,000 Property Debt Service 2,505,000 0 0 Intrafund Loans-Out 545,000 545,000 545,000 Total Appropriations 10,006,004 6,862,222 7,043,527 Net Change (1,289,004) 60,098 (651,387) Estimated Cash Balance, end of year 2,079,804 1,428,417 Merged Area #2 Tax Increment 9,000,000 . 8,000,000 7,000,000 q`k 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 FY 10-11 Adopted FY 10-11 Revised FY 11-12 Proposed CJ City of Palm Springs FY 2012 Proposed Budget Community Redevelopment Agency Low/Moderate Income Housing FY 10-11 FY 10-11 FY 11-12 Adopted Revised Proposed Cash Balance, beginning of year 7,615,777 5,425,716 Revenue Set-Aside 3,498,200 3,498,220 3,215,600 Other 130,000 130,000 85,000 ERAF Repayment 0 840,215 1,013,359 Total Revenue 3,628,200 4,468,435 4,313,959 Appropriations Personnel Costs 206,548 206,548 212,920 Materials 34,900 42,924 69,900 Administration 65,407 65,407 61,573 Debt Service 462,277 462,277 465,593 Capital Projects 1,914,927 5,015,621 2,110,000 Intrafund Loans-Out 4,204,921 865,719 0 Total Appropriations 6,888,980 6,658,496 2,919,986 Net Change (3,260,780) (2,190,061) 1,393,973 Estimated Cash Balance, end of year 5,425,716 6,819,689 Housing Set - Aside 3,550,000 3,500,000 3,450,000 3,400,000 ,¢ r a!a a- i aau°rd MG"Jti"4M„'� 3,350,000 rrs 3,300,000 3,250,000 3,200,000 G, 0' 3,150,000 3,100,0003,050,000 a . FY 10-11 Adopted FY 10-11 Revised FY 11-12 Proposed A City of Palm Springs FY 2012 Proposed Budget Community Redevelopment Agency Capital Protects FY 2012 Category Pro osed Fund 811 Merged Area 1 Undesignated 400,000 Total Merged Area 1 400,000 Fund 812 Merged Area 2 Undesignated 400,000 Total Merged Area 2 400,000 Fund 882 Low/Mod Housing Nightingale Manor/Sunset Palms Apts 2,110,000 Total Low/Mod Housing 2,110,000 Total CRA Capital Improvements 2,910,000 v City of Palm Springs FY 2012 Proposed Budget Fiscal Year 2011-12 Proposed Budget Special Distribution Fund May 18, 2011 3 City of Palm Springs Table of Contents Special Distribution Fund page 1 Special Distribution Fund FY 2010-11 FY 2011-12 Approved Proposed Indian Gaminq Special Distribution Fund(SDF) - Fund 122 � rurrwrrrnMnirr Revenue $0 $565,067 Expenses Firefighter/Paramedics $200,000 Casino Bicycle Officers 252,689 Downtown Experience Office 42,200 EMS Program Administration 25,000 Fire Apparatus 45,178 Total Expenses $992,073 $565,067 Surplus/(Deficit) ($992,073) $0 INDIAN GAMING SPECIAL DISTRIBUTION FUND INFORMATION Multi-.Year History: Revenues 2004-05 Actual $897,062 2005-06 Actual 896,259 2006-07 Actual 1,385,190 2007-08 Actual 1,097,544 2008-09 Actual 902,062 2009-10 Actual 0 2010-11 Actual 0 2011-12 Budget 565,067 2012-13 - Program Ended 0 GRAND TOTAL $5,743,184 FY 2011-12 Special Distribution Fund(SDF) Pagel 511212011 Fiscal Year 2011 -12 Proposed Budget Risk Management Funds VA M y 1;14 b"'. May 18, 2011 L� City of Palm Springs Table of Contents Risk Mangement Fund page 1 Employee Retirement Benefits Fund page 2 Retiree Health Insurance Fund page 2 i3 City of Palm Springs Table of Contents Risk Mangement Fund page 1 Employee Retirement Benefits Fund page 2 Retiree Health Insurance Fund page 2 Detail page 3 Risk Management Funds FY 2011 FY 2012 Approved Proposed % Change Risk Management- Fund 540 Revenue Total Risk Management Fund $11,011,989 $11,160,693 1.35% Expenditures Risk Management Personnel 185,468 168,874 -8.95% Materials, Supplies & Srvs 6,929,924 6,385,451 -7.86% Special Charges 11,238 11,616 3.36% Total Expenditures $7,126,630 $6,565,941 -7.87% Workers Compensation Personnel 239,282 221,456 -7.45% Materials, Supplies& Srvs 2,217,872 2,536,594 14.37% Special Charges 25,707 26,656 3.69% Total Expenditures $2,482,861 $2,784,706 12.16% Liability Insurance Personnel 3,794 298 -92.15% Materials, Supplies &Srvs 836,819 910,288 8.78% Special Charges 34,575 33,924 -1.88% Total Expenditures $875,188 $944,510 7.92% Property Insurance Materials, Supplies & Srvs 863,754 896,431 3.78% Total Expenditures $863,754 $896,431 3.78% Unemployment Materials, Supplies & Srvs 152,000 402,600 164.87% Total Expenditures $152,000 $402,600 164.87% Total Expenditures $11,500,433 $11,594,188 0.82% Operating Surplus/Deficit ($488,444) ($433,495) FY 2011-2012 Risk Mangement Fund Page 1 5/12/2011 Employee Retirement Benefits & Retiree Health Insurance Funds FY 2011 FY 2012 Approved Pro osed % Change Employee Retirement Benefits - Fund 530 Revenue 10,182,376 11,627,641 14.19% Total Revenue $10,182,376 $11,627,641 Expenditures Personnel 5,000 6,000 20.00% Materials, Supplies & Srvs 8,643,033 10,127,915 17.18% Debt Service 1,534,343 1,493,726 -2.65% Total Expenditures $10,182,376 $11,627,641 14.19% Operating Surplus/Deficit $0 $0 Retiree Health Insurance - Fund 541 Revenue 1,421,260 1,845,974 29.88% Total Revenue $1,421,260 $1,845,974 29.88% Expenditures Materials, Supplies & Srvs 1,421,260 1,845,974 29.88% Total Expenditures $1,421,260 $1,845,974 29.88% Operating Surplus/Deficit $0 $0 FY 2011-2012 Employee Retirement Lu Retiree Health Insurance Funds page 2 5/12/2011 Fiscal Year 2011-12 Proposed Budget Revised Golf Fund r4 May 18, 201 l City of Palm Springs Table of Contents Golf Courses page 1 ,5 G: Other Enterprise Funds FY 2011 FY 2012 Category Approved Proposed % Change Golf Courses Operations Account- Managed by Century Golf Beginning Operating Account Cash Balance as of April 2011 $2,113,000 Revenue Golf Revenues 4,747,405 4,817,970 1.49% Resident Cards 15,000 16,000 6.67% Total Revenue 4,762,405 4,833,970 1.50% Expenditures Materials, Supplies & Srvs 3,777,123 4,145,657 9.76% Management Fee 225,000 225,000 0.00% Special Charges 15,407 14,814 -3.85% Driving Range Rental 30,746 30,746 0.00% Capital Improvement Plan#2 400,000 275,000 -31.25% Total Expenditures 4,448,276 4,691,217 5.46% Operations Surplus/(Deficit) $314,129 $142,753 Projected Operating Account Ending Cash Balance as of June 30, 2012 $2,255,753 Note: Excludes debt service expenses 946,293 949,772 0.37% J FY 2011-12 Revised Proposed Golf Budget Page 1 511212011