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2 City of Pleasanton Operating Budget • FY 2023/24 - FY 2024/25
<br />FY 2023/24 and FY 2024/25 Citywide Operating Budget
<br />The FY 2023/24 expenditure budget totals $233.1 million including General Fund, Enterprise Funds,
<br />Special Revenue Funds, Internal Services Funds, and Trust Funds. The FY 2024/25 budget totals $234.3
<br />million.
<br />General Fund FY 2023/24 and FY 2024/25 Operating Revenues and Expenditures
<br />As presented in the table below, the General Fund budget is balanced in FY 2023/24 and FY 2024/25.
<br />Total General Fund revenues, including transfers from other funds, are estimated to be $150.2 million
<br />in FY 2023/24, an increase of $1.8 million or 1.2 percent from the FY 2022/23 Modified Budget. Revenues
<br />that are increasing include property taxes ($4.6 million), reimbursements ($0.8 million), recreation
<br />revenue ($0.7 million), plan check fees ($0.4 million), sales tax ($0.3 million), Transient Occupancy Tax
<br />($0.3 million), and other revenues ($1.2 million). These increases are offset by decreases in grants and
<br />subventions ($4.8 million), building permit fees ($0.4 million), fines and forfeitures ($0.1 million), and
<br />transfers in from other funds ($1.2 million).
<br />As described in the chart below, 82.0 percent of General Fund revenues is derived from taxes including
<br />property tax (58.9 percent), sales tax (16.9 percent), business license tax (3.3 percent), and Transient
<br />Occupancy Tax (TOT) (2.9 percent). The balance of General Fund revenues comes from fees for
<br />services, fines, interest earnings, inter-fund charges, and transfers in.
<br />Fund Category Actual
<br />FY 21/22
<br />Modified
<br />FY 22/23
<br />Projected
<br />FY 23/24 % of Budget
<br />Projected
<br />FY 24/25 % of Budget
<br />General Fund $120,540,274 $136,164,056 $147,653,132 63.3%$151,963,438 64.9%
<br />Internal Service Funds (1) (9,565,830) 18,731,630 18,875,380 8.1% 16,385,380 7.0%
<br />Enterprise Funds 49,784,757 58,496,750 61,002,232 26.2% 62,255,883 26.6%
<br />Special Revenue Funds 3,000,150 4,554,050 5,550,423 2.4% 3,646,604 1.6%
<br />Private-purpose Trust Funds 20,887 40,780 40,780 0.0% 40,780 0.0%
<br />Total Expenditures (2)$163,780,237 $217,987,266 $233,121,947 100.0%$234,292,085 100.0%
<br />(1) FY 2021/22 negative amount reflects reduction in expense/unfunded pension and other post-employment benefits liabilities due to higher investment earnings from FY 2020/21.
<br />(2) Transfers are excluded from the total.
<br />Actual
<br />FY 21/22
<br />Modified
<br />FY 22/23
<br />Projected
<br />FY 23/24
<br />Projected
<br />FY 24/25
<br /> Revenues $142,599,464 $143,443,624 $146,429,092 $151,442,025
<br /> Transfers In 899,497 4,969,540 3,743,780 3,771,780
<br />Total Revenues 143,498,961 148,413,164 150,172,872 155,213,805
<br />Use of Program Reserves - 394,000 760,000 30,000
<br /> Expenditures (120,540,274) (136,164,056) (147,653,132) (151,963,438)
<br /> Transfers Out (13,681,451) (10,108,025) (3,275,628) (3,275,628)
<br />Total Expenditures (134,221,724) (146,272,081) (150,928,760) (155,239,066)
<br />Net Surplus/ (Deficit)(1)$9,277,236 $2,535,083 $4,112 $4,739
<br />(1) FY 2021/22 surplus excludes GASB 31 fair value adjustments, a loss of $3,592,581. The adjusted net surplus for FY 2021/22, including this unrealized loss is $5,684,656.
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