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Home My WebLink About2024-17 CC ResolutionRESOLUTION NO.2024-17 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA, AMENDING THE FISCAL YEAR 2023-24 ANNUAL OPERATING BUDGET THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The purpose of this review is to conduct an analysis of revenues and expenditures to ensure that the City maintains a prudent and healthy fiscal position. Section 2. That each year a mid -year review is conducted of City operating budgets. Section 3. That the mid -year review has been completed and the recommended adjustments are reflected in the attached schedules for the City's General Fund, Special Revenue, Debt Service and Internal Services Funds. Section 4. That the Fiscal Year 2023-24 General Fund and Measure S Fund Annual Operating Budgets are hereby amended in accordance with the attached Exhibit A, General Fund Fiscal Year 2023-24 Mid -Year Budget. Section 5. That the Fiscal Year 2023-24 Special Revenue Funds Annual Operating Budgets are hereby amended in accordance with the attached Exhibit B — Special Revenue and Debt Service Funds Fiscal Year 2023-24 Mid -Year Budget. Section 6. That the Fiscal Year 2023-24 Internal Services Funds Annual Operating Budgets are hereby amended in accordance with the attached Exhibit C, Internal Services Funds Fiscal Year 2023-24 Mid -Year Budget. Section 9. The City Clerk shall certify adoption of the resolution. 1 PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula this 27t' day of February, 2024. James Stewart, Mayor ATTEST: Randi Joh , i Clerk [SEAL] 1 1 1 1 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the foregoing Resolution No. 2024-17 was duly and regularly adopted by the City Council of the City of Temecula at a meeting thereof held on the 27`h day of February, 2024, by the following vote: AYES: 4 COUNCIL MEMBERS: Alexander, Kalfus, Schwank, Stewart NOES: 0 COUNCIL MEMBERS: None ABSTAIN: 0 COUNCIL MEMBERS: None ABSENT: 0 COUNCIL MEMBERS: None Randi Johl, City Clerk 3 1 EXHIBIT A 1 General Fund & Measure S Fund 11 1 1 �,.,, ine near[ of Soui.hem Calif�mia Wine Country City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 001 - GENERAL FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Taxes and Franchises Property Tax 10,452,986 10,735,507 3,536,689 10,735,507 0 Sales Tax 48,776,216 50,281,000 11,486,348 48,781,000 (1,500,000) Sales Tax Sharing Agreement (1,348,016) (1,347,492) (355,372) (1,407,549) (60,057) Franchise Fees 4,299,244 4,396,972 1,326,724 4,396,972 0 Transient Occupancy Tax 4,679,141 4,442,549 1,947,042 5,142,549 700,000 Special Tax (Measure C) 1,908,127 1,916,505 18,249 1,916,505 0 Licenses, Permits and Service Charges Charges For Services 2,240 2,550 124 2,550 0 Business Licenses 284,420 275,400 132,995 275,400 0 Land Development 2,869,845 1,933,940 953,260 1,329,320 (604,620) Parks Maintenance 0 1,399 15,316 15,316 13,917 Building 3,453,890 3,080,400 1,565,877 3,005,275 (75,125) Planning 568,138 645,710 323,349 649,859 4,149 Police 213,631 164,807 48,432 73,324 (91,483) Fire 1,810,575 1,410,864 547,453 1,141,260 (269,604) Development Fees 165,487 173,369 53,840 140,090 (33,279) Fines and Forfeitures Fines & Forfeitures 580,203 530,451 219,402 403,390 (127,061) Use of Money and Property Investment Interest 749,599 0 42,994 85,958 85,958 Lease/Rental Income 216,246 222,255 131,186 222,255 0 Other 103,108 45,900 24,167 232,169 186,269 Intergovernmental Revenues Property Tax In Lieu Of VLF 9,897,474 10,440,844 0 10,549,227 108,383 Vehicle License Fees 112,676 122,400 0 122,400 0 Grants 13,045 0 17,133 42,000 42,000 Reimbursements Capital Improvement Program 3,046,862 3,248,971 0 3,248,971 0 Pechanga IGA 374,107 381,990 0 401,057 19,067 Other Reimbursements 1,161,683 1,048,187 233,459 1,022,234 (25,953) Operating Transfers In Operating Transfers In 15,331,107 10,417,675 0 10,255,187 (162,488) Contribution From Measure S 5,543,353 9,730,205 0 5,230,205 (4,500,000) Miscellaneous Miscellaneous 34,960 9,690 949,136 15,802 6,112 Total Revenues and Other Sources 115,300,348 114,312,048 23,217,801 108,028,233 (6,283,815) Expenditures by Category Salaries & Benefits 21,079,681 22,364,089 10,538,468 21,975,012 (389,077) Operations & Maintenance 59,751,752 65,317,467 19,852,805 65,358,045 40,578 Internal Service Fund Allocations 6,775,621 8,824,408 4,902,016 8,614,715 (209,693) Capital Outlay 463,576 488,410 285,022 478,410 (10,000) Transfers 36,953,675 25,338,979 0 22,001,505 (3,337,474) 0.0 % -3.0 % 4.5 % 0.0 % 15.8 % 0.0 % 0.0 % 0.0 % -31.3 % 994.8 % -2.4 % 0.6 % -55.5 % -19.1 % -19.2 % 24.0 % 100.0 % 0.0 % 405.8 % 1.0 % 0.0 % 100.0 % 0.0 % 5.0 % -2.5 % -1.6 % -46.2 % 63.1 % -5.5 % -1.7 % 0.1 % -2.4 % -2.0 % -13.2 % lAk ✓—� the Heat of so�th��n Calif --,Quarterly Wine C�umry City of Temecula Fiscal Year 2023-24 Budget Report FUND: 001 - GENERAL FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Total Expenditures and Other Financing Uses 125,024,306 122,333,354 35,578,312 118,427,688 (3,905,666) -3.2 % Excess of Revenues Over (Under) Expenditures (9,723,958) (8,021,306) (12,360,511) (10,399,455) (2,378,149) 29.6 % Fund Balance, Beginning of Year 56,026,337 46,302,379 46,302,379 Fund Balance, End of Year 46,302,379 38,281,073 35,902,924 Fund Description The General Fund is the main operating fund for the City of Temecula. It is used to account for all financial resources for the City that are not restricted to a special purpose and otherwise required to be accounted for in another fund. The General fund provides the resources necessary to sustain the day-to-day activities and pays for all administrative and operating expenditures. r- u J 1lAft] �-/ r City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 002 - MEASURE S FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Taxes and Franchises Transactions And Use Tax 38,311,796 39,971,000 9,383,974 39,418,000 (553,000) -1.4 % Use of Money and Property Investment Interest 781,117 71,788 176,005 423,800 352,012 490.3 % Total Revenues and Other Sources 39,092,913 40,042,788 9,559,979 39,841,800 (200,988) -0.5 % Expenditures by Category Transfers 27,776,347 74,890,577 0 69,267,468 (5,623,109) -7.5 % Total Expenditures and Other Financing Uses 27,776,347 74,890,577 0 69,267,468 (5,623,109) -7.5 % Excess of Revenues Over (Under) Expenditures 11,316,566 (34,847,789) 9,559,979 (29,425,668) 5,422,121 -15.6 % Fund Balance, Beginning of Year 34,675,773 45,992,339 45,992,339 Fund Balance, End of Year 45,992,339 11,144,550 16,566,671 Fund Description Measure 5, approved by the voters on November 8, 2016, established a one -cent Transactions and Use Tax for the City. The measure was approved based on the commitment to maintain 9-1-1 emergency response times, prevent cuts to local paramedic/police/fire protection, school safety patrols, youth/after-school, senior and disabled services; improve freeway interchanges/reduce traffic and provide for other general services. 1 1 EXHIBIT B 1 Special Revenue Funds and Debt Service Funds 1 1 J 1 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 006 - FIRE FACILITY ACQUISITION FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 29,523 0 11,559 23,119 23,119 100.0 % Operating Transfers In Operating Transfers In 1,500,000 1,500,000 0 1,500,000 0 0.0 % Total Revenues and Other Sources 1,529,523 1,500,000 11,559 1,523,119 23,119 Excess of Revenues Over (Under) Expenditures 1,529,523 1,500,000 11,559 1,523,119 23,119 Fund Balance, Beginning of Year 1,500,000 3,029,523 3,029,523 Fund Balance, End of Year 3,029,523 4,529,523 4,552,642 Fund Description This fund was established to accumulate resources necessary to acquire property for a future Fire Station, construct new Fire Station or refurbish existing Fire Stations. ((r]] rh" riea�t or so�the�n car�F� Vline Coun•.ry City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 100 - GAS TAX FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Taxes and Franchises Gas Tax 2,792,342 3,137,675 1,091,534 2,969,567 (168,108) -5.4 % Use of Money and Property Investment Interest 33,264 0 2,791 5,583 5,583 100.0 % Total Revenues and Other Sources 2,825,606 3,137,675 1,094,325 2,975,150 (162,525) -5.2 % Expenditures by Category Transfers 2,825,606 3,137,675 0 2,975,150 (162,525) -5.2 % Total Expenditures and Other Financing Uses 2,825,606 3,137,675 0 2,975,150 (162,525) -5.2 % Excess of Revenues Over (Under) Expenditures 0 0 1,094,325 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the tax per gallon on the purchase of motor vehicle fuel imposed by the State of California. A portion is allocated to the City of Temecula as specified in the California Streets and Highways Code (SHC) (Sections 2013, 2105, 2107 and 2107.5). Gas Tax monies are restricted to the repair, maintenance and upkeep of City streets and roads, and the purchase of equipment used to maintain roads. 1 1 1 (AMA] The Heart of Southern Cahfumle Wine Ccun�y City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 102 - ROAD MAINTENANCE REHABILITATION ACCOUNT (RMRA) FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Taxes and Franchises Gas Tax 2,428,080 2,717,382 923,715 2,629,273 (88,109) -3.2 % Use of Money and Property Investment Interest 54,376 0 4,864 9,728 9,728 100.0 % Total Revenues and Other Sources 2,482,456 2,717,382 928,579 2,639,001 (78,381) -2.9 % Expenditures by Category Transfers 3,005,103 3,408,732 0 3,408,732 0 0.0 % Total Expenditures and Other Financing Uses 3,005,103 3,408,732 0 3,408,732 0 0.0 % Excess of Revenues Over (Under) Expenditures (522,647) (691,350) 928,579 (769,731) (78,381) 11.3 % Fund Balance, Beginning of Year 1,561,337 1,038,689 1,038,689 Fund Balance, End of Year 1,038,689 347,339 268,958 Fund Description This fund is to account for gasoline and vehicle registration taxes pursuant to the Road Repair and Accountability Act of 2017 (SB1 Beall). Monies are collected by the State of California and allocated to local agencies for streets and roads projects and other transportation uses. 1 1 77 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 103 - STREET MAINTENANCE FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 117,536 0 14,990 29,981 29,981 Operating Transfers In Contribution From Measure 5 2,000,000 2,000,000 0 2,000,000 0 Total Revenues and Other Sources 2,117,536 2,000,000 14,990 2,029,981 29,981 Expenditures by Category Transfers 3,600,000 0 0 0 0 Total Expenditures and Other Financing Uses 3,600,000 0 0 0 0 Excess of Revenues Over (Under) Expenditures (1,482,464) 2,000,000 14,990 2,029,981 29,981 Fund Balance, Beginning of Year 5,424,001 3,941,537 3,941,537 Fund Balance, End of Year 3,941,537 5,941,537 5,971,518 Fund Description This fund was established to accumulate resources for the future replacement of streets and roads throughout the City. 0.0 % 0.0 % 1 1 1 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 105 - NPDES IN LIEU FEES FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Development Fees 599,063 883,456 0 0 (883,456) -100.0 % Use of Money and Property Investment Interest 2,012 0 2,302 4,605 4,605 100.0 % Total Revenues and Other Sources 601,076 883,456 2,302 4,605 (878,851) -99.5 % Expenditures by Category Capital Outlay 0 500,000 0 500,000 0 0.0 % Total Expenditures and Other Financing Uses 0 500,000 0 500,000 0 0.0 % Excess of Revenues Over (Under) Expenditures 601,076 383,456 2,302 (495,395) (878,851) -229.2 % Fund Balance, Beginning of Year 1,940 603,016 603,016 Fund Balance, End of Year 603,016 986,472 107,621 Fund Description This fund was established to account for the collection of In Lieu fees associated with the National Pollutant Discharge Elimination System (NPDES). (z,, ✓ The �aea« or so�the�� ca�,f, None Country City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 106 - UPTOWN TEMECULA NEW STREETS IN -LIEU FEES % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Development Impact Fees 0 417,315 424,218 664,482 247,167 59.2 % Use of Money and Property Investment Interest 16,999 0 4,240 8,481 8,481 100.0 % Total Revenues and Other Sources 16,999 417,315 428,458 672,963 255,648 61.3 % Expenditures by Category Transfers 0 500,857 0 500,857 0 0.0 % Total Expenditures and Other Financing Uses 0 500,857 0 500,857 0 0.0 % Excess of Revenues Over (Under) Expenditures 16,999 (83,542) 428,458 172,106 255,648 -306.0 % Fund Balance, Beginning of Year 888,761 905,760 905,760 Fund Balance, End of Year 905,760 822,218 1,077,866 Fund Description This fund was established in conjunction with the adoption of the Uptown Temecula Specific Plan New Streets In -Lieu Fee. The Specific Plan requires developers to dedicate right-of-way and construct new street improvements adjacent to or through their development sites. Developers within the Specific Plan who cannot contribute right-of-way and/or build new streets will be chargec a new streets in -lieu fee. 1 lAft the Heart nr so�ther„ Ca�,fn Wine Country City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 108 -ARPA % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Intergovernmental Revenues Grants 7,039,754 0 0 0 0 0.0 % Total Revenues and Other Sources 7,039,754 0 0 0 0 0.0 % Expenditures by Category Transfers 7,039,754 0 0 0 0 0.0 % Total Expenditures and Other Financing Uses 7,039,754 0 0 0 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 0 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the receipt of Federal 2021-22 American Rescue Plan Act (ARPA) funds. 1 Aft �y City of Temecula �-` Fiscal Year 2023-24 rhF tie� of so�the�n carf- Quarterly Budget Report wine Country FUND: 110 - COVID-19 PANDEMIC COMMUNITY REINVESTMENT PROGRAM % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 0 0 42,124 84,249 84,249 100.0 % Operating Transfers In Operating Transfers In 7,040,000 0 0 37,706 37,706 100.0 % Total Revenues and Other Sources 7,040,000 0 42,124 121,955 121,955 100.0 % Expenditures by Category Salaries & Benefits 30,205 15,239 2,394 15,239 0 0.0 % Operations & Maintenance 2,398,739 3,788,601 1,637,952 3,317,824 (470,777) -12.4 % Capital Outlay 0 0 0 0 0 0.0 % Transfers 500,000 5,925,000 0 6,425,000 500,000 8.4 % Total Expenditures and Other Financing Uses 2,928,944 9,728,840 1,640,346 9,758,063 29,223 0.3 % Excess of Revenues Over (Under) Expenditures 4,111,056 (9,728,840) (1,598,222) (9,636,108) 92,732 -1.0 % Fund Balance, Beginning of Year 7,034,894 11,145,950 11,145,950 Fund Balance, End of Year 11,145,950 1,417,111 1,509,843 Fund Description This fund was established in Fiscal Year 2021-22 to provide various community grants to support the local economy in its recovery from the COVID-19 global pandemic. Available General Fund balance was transferred into this fund to establish this new program. IJ Aft �--�" rhP }aeaof so��e� cauf City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 120 - DEVELOPMENT IMPACT FEES FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Development Impact Fees 8,057,121 7,526,621 2,558,560 6,283,683 (1,242,938) -16.5 % Quimby Fees 2,238,980 266,269 8,541 466,269 200,000 75.1 % Use of Money and Property Investment Interest 223,188 0 46,917 93,834 93,834 100.0 % Total Revenues and Other Sources 10,519,288 7,792,890 2,614,017 6,843,786 (949,104) -12.2 % Expenditures by Category Transfers 6,814,690 10,089,886 0 10,174,809 84,923 0.8 % Total Expenditures and Other Financing Uses 6,814,690 10,089,886 0 10,174,809 84,923 0.8 % Excess of Revenues Over (Under) Expenditures 3,704,598 (2,296,996) 2,614,017 (3,331,023) (1,034,027) 45.0 % Fund Balance, Beginning of Year 7,654,742 11,359,340 11,359,340 Fund Balance, End of Year 11,359,340 9,062,343 8,028,316 Fund Description This fund accounts for the development impact fees received as a result of development activity within the City. The fees are primarily used to fund Capital Improvement Projects designed to mitigate the impacts of development projects. 1 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 125 - PUBLIC EDUCATION & GOVERNMENT (PEG) FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Taxes and Franchises Peg Fees 175,292 179,000 39,041 179,000 0 0.0 % Use of Money and Property Investment Interest 15,254 0 3,310 6,620 6,620 100.0 % Total Revenues and Other Sources 190,546 179,000 42,351 185,620 6,620 3.7 % Expenditures by Category Capital Outlay 21,895 165,000 2,688 165,000 0 0.0 % Total Expenditures and Other Financing Uses 21,895 165,000 2,688 165,000 0 0.0 % Excess of Revenues Over (Under) Expenditures 168,652 14,000 39,663 20,620 6,620 47.3 % Fund Balance, Beginning of Year 710,672 879,324 879,324 Fund Balance, End of Year 879,324 893,324 899,944 Fund Description This fund was established to account for Public Education and Government (PEG) fees. Fees received from local cable operators for the sole purpose of supporting the access facilities and activities within the City. 1 1lAft, r1eHeart of o e ca r Wine C—wwry City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 140 - COMMUNITY DEV BLOCK GRANT FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Intergovernmental Revenues Community Development Block Grant 376,702 621,857 969,486 1,563,269 941,412 151.4 % CDBG - CV2 GRANTS 15,184 0 0 662,675 662,675 100.0 % Total Revenues and Other Sources 391,885 621,857 969,486 2,225,944 1,604,087 258.0 % Expenditures by Category Salaries & Benefits 38,179 42,724 18,241 42,724 0 0.0 % Operations & Maintenance 251,691 168,480 160,493 168,480 0 0.0 % Transfers 163,722 2,061,583 0 2,061,583 0 0.0 % Total Expenditures and Other Financing Uses 453,593 2,272,786 178,734 2,272,786 0 0.0 % Excess of Revenues Over (Under) Expenditures (61,707) (1,650,929) 790,752 (46,842) 1,604,087 -97.2 % Fund Balance, Beginning of Year 108,549 46,842 46,842 Fund Balance, End of Year 46,842 (1,604,087) 0 Fund Description This fund was established to account for grants received from the U.S. Department of Housing and Urban Development (HUD). The grants are used for the redevelopment of a viable community by providing decent housing, a suitable living environment, and for expanding opportunities, principally for persons of low and moderate income. 1 �_. City of Temecula - Fiscal Year 2023-24 Quarterly Budget Report `Nine Country FUND: 145 - TEMECULA ENERGY EFFICIENCY ASSET (TEAM) FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 16,572 0 2,795 5,592 5,592 100.0 % Total Revenues and Other Sources 16,572 0 2,795 5,592 5,592 100.0 % Expenditures by Category Transfers 115,807 683,122 0 683,122 0 0.0 % Total Expenditures and Other Financing Uses 115,807 683,122 0 683,122 0 0.0 % Excess of Revenues Over (Under) Expenditures (99,235) (683,122) 2,795 (677,530) 5,592 -0.8 % Fund Balance, Beginning of Year 833,528 734,293 734,293 Fund Balance, End of Year 734,293 51,171 56,763 Fund Description This fund was established to capture energy efficiency rebates and reimbursements as well as expenditure savings resulting from energy efficiency projects completed at various City facilities. Revenue collected in this fund will be utilized on future energy efficiency projects. 1 "t {cart �f Sj'j eff Cai.G>rnla Wine Canliy City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 150 - AB 2766 MOTOR VEHICLE SUBVENTION FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 6,371 0 1,428 2,857 2,857 100.0 % Intergovernmental Revenues AB2766 Motor Vehicle Subvention 182,197 142,977 0 142,977 0 0.0 % Operating Transfers In Operating Transfers In 0 0 0 10,000 10,000 100.0 % Total Revenues and Other Sources 188,568 142,977 1,428 155,834 12,857 9.0 % Expenditures by Category Operations & Maintenance 10,000 10,000 0 10,000 0 0.0 % Transfers 38,044 534,419 2,760 534,419 0 0.0 % Total Expenditures and Other Financing Uses 48,044 544,419 2,760 544,419 0 0.0 % Excess of Revenues Over (Under) Expenditures 140,524 (401,442) (1,332) (388,585) 12,857 -3.2 % Fund Balance, Beginning of Year 250,531 391,055 391,055 Fund Balance, End of Year 391,055 (10,387) 2,470 Fund Description This fund was established to account for subvention funds that are used to implement programs and projects that reduce air pollution from motor vehicles. AB2766 Funds are derived from a Motor Vehicle Registration fee surcharge. Local governments are allocated $1.60 for every eligible vehicle registered within the South Coast Air Quality Management District. Funds are disbursed based on the City's population as a percentage of the total population within the District. This fund is used for Capital projects and the City's share of WRCOG's Clean Cities Coalition. 1 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 160 - SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 2,722 0 18 37 37 100.0 % Intergovernmental Revenues SLESF Grant 282,541 280,000 25,000 280,000 0 0.0 % Total Revenues and Other Sources 285,263 280,000 25,018 280,037 37 0.0 % Expenditures by Category Transfers 285,263 280,000 0 280,037 37 0.0 % Total Expenditures and Other Financing Uses 285,263 280,000 0 280,037 37 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 25,018 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the Supplemental Law Enforcement Services grant monies from the State of California which are provided to assist cities in delivering front line law enforcement services. These monies supplement existing services and may not be used to supplant any existing funding for law enforcement services provided by the City. '--r ( City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 165 - AFFORDABLE HOUSING FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Taxes and Franchises Redevelopment Property Tax Fund 2,450,971 900,000 0 900,000 0 0.0 % Distribution Use of Money and Property Investment Interest 105,750 0 24,149 48,298 48,298 100.0 % Lease/Rental Income 12,600 0 37,800 44,100 44,100 100.0 % Other 6,153 0 12,674 12,674 12,674 100.0 % Intergovernmental Revenues Agency Trust Contribution 250,000 250,000 0 250,000 0 0.0 % Reimbursements Other Reimbursements 13,898 0 0 0 0 0.0 % Operating Transfers In Operating Transfers In 0 750,000 0 750,000 0 0.0 % Miscellaneous Miscellaneous Total Revenues and Other Sources 0 2,839,371 0 1,900,000 114,268 188,891 114,269 2,119,341 114,269 219,341 100.0 % 11.5 % Expenditures by Category Salaries & Benefits 223,488 363,126 171,915 363,126 0 0.0 % Operations & Maintenance 88,359 288,423 25,928 267,823 (20,600) -7.1 % Internal Service Fund Allocations 36,787 59,330 39,522 55,592 (3,738) -6.3 % Transfers 2,450,971 5,841,359 0 5,841,359 0 0.0 % Total Expenditures and Other Financing Uses 2,799,604 6,552,238 237,365 6,527,900 (24,338) -0.4 % Excess of Revenues Over (Under) Expenditures 39,767 (4,652,238) (48,474) (4,408,559) 243,679 -5.2 % Fund Balance, Beginning of Year 11,964,611 12,004,378 12,004,378 Fund Balance, End of Year 12,004,378 7,352,140 7,595,819 Fund Description The Affordable Housing fund contains the assets as well as loan and rental income which have been transferred to the City of Temecula from the former Redevelopment Agency. u 1 1 AI Ak the !-ieart of Southern California A— Country City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 170 - MEASURE A FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 166,036 0 27,934 55,868 55,868 100.0 % Intergovernmental Revenues Measure A 4,503,516 4,354,000 1,427,809 4,354,000 0 0.0 % Total Revenues and Other Sources 4,669,552 4,354,000 1,455,743 4,409,868 55,868 1.3 % Expenditures by Category Operations & Maintenance 2,729,188 2,941,169 2,468,454 2,941,169 0 0.0 % Transfers 3,907,518 5,218,512 1,000 5,818,512 600,000 11.5 % Total Expenditures and Other Financing Uses 6,636,706 8,159,681 2,469,454 8,759,681 600,000 7.4 % Excess of Revenues Over (Under) Expenditures (1,967,154) (3,805,681) (1,013,711) (4,349,813) (544,132) 14.3 % Fund Balance, Beginning of Year 9,063,242 7,096,089 7,096,089 Fund Balance, End of Year 7,096,089 3,290,407 2,746,275 Fund Description This fund was established to account for the City's allocation of the County of Riverside's additional one-half percent sales tax for transportation. These monies are restricted for use on local streets. In 2002, Measure A was extended by Riverside County voters. Measure A will continue to fund transportation improvements through 2039. 1 1 E ARA The Heart of Jou[hem Cafifomla Wine co-11 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 198 - PUBLIC ART FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Public Art 95,599 10,400 27,428 6,100 (4,300) -41.3 % Use of Money and Property Investment Interest 3,463 0 921 1,843 1,843 100.0 % Total Revenues and Other Sources 99,062 10,400 28,349 7,943 (2,457) -23.6 % Expenditures by Category Operations & Maintenance 4,630 25,370 0 80,370 55,000 216.8 % Total Expenditures and Other Financing Uses 4,630 25,370 0 80,370 55,000 216.8 % Excess of Revenues Over (Under) Expenditures 94,432 (14,970) 28,349 (72,427) (57,457) 383.8 % Fund Balance, Beginning of Year 131,995 226,427 226,427 Fund Balance, End of Year 226,427 211,457 154,000 Fund Description This fund was established pursuant to Temecula Municipal Code Section 5.08.040, whereby the fund serves a a depository for the fees paid in lieu of art as well as monetary donations for public art. The Public Art In Lieu fee is one -tenth of one percent of an eligible development project in excess of $100,000. Eligible uses of this fund include the design, acquisition, installation, improvement, maintenance and insurance of public artwork; offering of performing arts programs on City property for the community; and art education programs on City property for the community. AW -, City of Temecula C Fiscal Year 2023-24 Quarterly Budget Report rhE lea<<ef south— ca14 Wine Country FUND: 210 - CAPITAL IMPROVEMENT PROGRAM FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Development Impact Fees 4,319,145 6,279,323 0 6,364,246 84,923 1.4 % Quimby Fees 2,320,029 3,810,563 0 3,810,563 0 0.0 % Use of Money and Property Investment Interest 0 0 38,894 0 0 0.0 % Intergovernmental Revenues Grants 310,000 3,811,656 0 3,811,656 0 0.0 % Reimbursements Capital Improvement Program 14,356,352 153,135,216 18,744,928 153,164,796 29,580 0.0 % Pechanga IGA 1,700,000 1,400,000 0 1,400,000 0 0.0 % Other Reimbursements 1,725,490 0 0 0 0 0.0 % Operating Transfers In Operating Transfers In 4,237,944 35,454,306 3,760 36,554,306 1,100,000 3.1 % Contribution From Measure S 7,001,860 45,144,776 0 45,144,776 0 0.0 % Total Revenues and Other Sources 35,970,820 249,035,839 18,787,583 250,250,342 1,214,503 0.5 % Expenditures by Category CIP 40,651,364 253,852,271 0 255,066,774 1,214,503 0.5 % Total Expenditures and Other Financing Uses 40,651,364 253,852,271 0 255,066,774 1,214,503 0.5 % Excess of Revenues Over (Under) Expenditures (4,680,544) (4,816,432) 18,787,583 (4,816,432) 0 0.0 % Fund Balance, Beginning of Year 11,383,259 6,702,714 6,702,714 Fund Balance, End of Year 6,702,714 1,886,283 1,886,283 Fund Description This fund was established to account for the City's Capital Improvement Program revenues and expenditures. 1 A�� City of Temecula Fiscal Year 2023-24 Quarterly Budget Report of S, FUND: 395 - 2018 FINANCING LEASE (CIVIC CENTER) FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Operating Transfers In Operating Transfers In 13,425,327 0 0 0 0 0.0 % Total Revenues and Other Sources 13,425,327 0 0 0 0 0.0 % Expenditures by Category Operations & Maintenance 13,425,327 0 0 0 0 0.0 % Total Expenditures and Other Financing Uses 13,425,327 0 0 0 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 0 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the payment of interest and principal of the refunding of the 2001 and 2008 Certificates of Participation (COPS). The 2001 COPS were originally issued to finance the construction of the Community Recreation Center and the 2008 COPs were originally issued to finance the construction of the Civic Center. In Fiscal Year 2018-19, the terms of the lease were refinanced, lowering the interest rate from 3.75% to 3.42%. The term of the lease expires September 1, 2033. 1 llAk `'lo he F�ea�t of Southern car�ro Wine cou„«y City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 396 - 2018 FINANCING LEASE (MRC) FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Operating Transfers In Operating Transfers In 5,316,429 0 0 0 0 0.0 % Total Revenues and Other Sources 5,316,429 0 0 0 0 0.0 % Expenditures by Category Operations & Maintenance 5,316,429 0 0 0 0 0.0 % Total Expenditures and Other Financing Uses 5,316,429 0 0 0 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 0 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the payments of interest and principal related to the financing of the rehabilitation of the Margarita Recreation Center (MRC). The Lease Agreement, dated August 1, 2018, generated $6.5 million in proceeds at an interest rate of 3.42%. The Term of the lease expires September 1, 2033, L EXHIBIT C 1 Internal Service Funds 1-1 L llam. City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 300 - INSURANCE FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 1,944,246 2,328,809 2,513,948 2,328,809 0 0.0 % Use of Money and Property Investment Interest 28,392 0 1,636 3,273 3,273 100.0 % Total Revenues and Other Sources 1,972,638 2,328,809 2,515,584 2,332,082 3,273 0.1 % Expenditures by Category Salaries & Benefits 176,376 205,073 101,121 205,073 0 0.0 % Operations & Maintenance 1,850,294 2,123,736 2,436,774 2,723,736 600,000 28.3 % Total Expenditures and Other Financing Uses 2,026,669 2,328,809 2,537,895 2,928,809 600,000 25.8 % 213,116, 785 Excess of Revenues Over (Under) Expenditures (54,031) 0 (22,311) (596,727) (596,727) .7 % Fund Balance, Beginning of Year 810,122 756,091 756,091 Fund Balance, End of Year 756,091 756,091 159,364 Fund Description The Insurance Fund was established to account for the City's liability and property insurance costs. Fund Balance is a combination of both spendable and non spendable assets. These costs are allocated to each department based on the total number of Full Time Equivalent positions assigned to those departments. The City has a Self -Insured Retention (SIR) of $150,000 per incident, and strives to maintain a fund balance equal to three times the SIR. 1 7 1 1 T FUND: 305 - WORKERS' COMPENSATION FUND City of Temecula Fiscal Year 2023-24 Quarterly Budget Report % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 370,908 0 0 0 0 0.0 % Use of Money and Property Investment Interest 27,413 0 5,302 10,605 10,605 100.0 % Reimbursements Other Reimbursements 2,137 0 0 0 0 0.0 % Total Revenues and Other Sources 400,458 0 5,302 10,605 10,605 100.0 % Expenditures by Category Salaries & Benefits 176,375 205,583 101,120 205,583 0 0.0 % Operations & Maintenance 401,729 344,782 248,566 344,782 0 0.0 % Total Expenditures and Other Financing Uses 578,104 550,365 349,686 550,365 0 0.0 % Excess of Revenues Over (Under) Expenditures (177,646) (550,365) (344,384) (539,760) 10,605 -1.9 % Fund Balance, Beginning of Year 1,677,621 1,499,975 1,499,975 Fund Balance, End of Year 1,499,975 949,610 960,215 Fund Description The Workers' Compensation Fund was established in Fiscal Year 2014-15 as the City transitions to a self -insured status for Workers' Compensation liabilities. Departments are charged based on each position allocated on a Full Time Equivalent basis, with a cost assigned to each position based on job duties and potential for risk. The desired Net Position for this fund is $1.5 million, which represents three -times the City's Self -Insured Retention amount of $500,000. 1 1 1 r R. City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 310 - VEHICLES AND EQUIPMENT FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 348,495 467,241 213,016 467,241 0 0.0 % Use of Money and Property Investment Interest 62,796 0 12,918 25,838 25,838 100.0 % Operating Transfers In Contribution From Measure S 500,000 0 0 0 0 0.0 % Total Revenues and Other Sources 911,291 467,241 225,934 493,079 25,838 5.5 % Expenditures by Category Operations & Maintenance 380,695 0 0 0 0 0.0 % Capital Outlay 600 871,879 544,620 871,879 0 0.0 % Total Expenditures and Other Financing Uses 381,295 871,879 544,620 871,879 0 0.0 % Excess of Revenues Over (Under) Expenditures 529,997 (404,638) (318,686) (378,800) 25,838 -6.4 % Fund Balance, Beginning of Year 4,719,293 5,249,290 5,249,290 Fund Balance, End of Year 5,249,290 4,844,652 4,870,490 Fund Description The Vehicles and Equipment Fund was established to account for the depreciation of vehicles and capital equipment over their estimated useful lives, and to accumulate resources for the purchase of future replacement vehicles and equipment. Fund Balance is a combination of both spendable and non spendable assets. Departments are charged based on the replacement costs for each asset benefitting the department. 1 1 1 Ilt �1 (7 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 320 - INFORMATION TECHNOLOGY FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 4,812,964 6,137,244 2,815,108 6,137,244 0 0.0 % Use of Money and Property Investment Interest 31,691 0 3,974 7,950 7,950 100.0 % Operating Transfers In Contribution From Measure S 300,000 300,000 0 300,000 0 0.0 % Total Revenues and Other Sources 5,144,655 6,437,244 2,819,082 6,445,194 7,950 0.1 % Expenditures by Category Salaries & Benefits 2,633,369 2,940,212 1,341,113 2,905,041 (35,171) -1.2 % Operations & Maintenance 2,141,528 3,464,629 1,734,384 3,464,629 0 0.0 % Internal Service Fund Allocations 2,660 5,320 1,330 2,660 (2,660) -50.0 % Capital Outlay 23,360 125,000 84,024 125,000 0 0.0 % Total Expenditures and Other Financing Uses 4,800,917 6,535,162 3,160,851 6,497,331 (37,831) -0.6 % Excess of Revenues Over (Under) Expenditures 343,738 (97,918) (341,768) (52,137) 45,781 -46.8 % Fund Balance, Beginning of Year 1,449,014 1,792,752 1,792,752 Fund Balance, End of Year 1,792,752 1,694,834 1,740,615 Fund Description The Information Technology Fund was established to fund and account for computer and telephone system operating and maintenance expenses. Fund Balance is a combination of both spendable and non spendable assets. Adjustments are made to Fund Balance to include additional spendable resources available for expenditure. Departments are charged based on the number of electronic devices assigned. The Ronald H. Roberts Temecula Public Library facility is charged directly for all IT expenditures and personnel costs related to the facility. Ak J City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 325 - TECHNOLOGY REPLACEMENT FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 177,577 228,616 66,592 228,616 0 0.0 % Use of Money and Property Investment Interest 48,810 0 10,675 21,351 21,351 100.0 % Operating Transfers In Contribution From Measure S 500,000 500,000 0 0 (500,000) -100.0 % Total Revenues and Other Sources 726,387 728,616 77,267 249,967 (478,649) -65.7 % Expenditures by Category Operations & Maintenance 164,887 0 0 0 0 0.0 % Capital Outlay 6,061 680,000 456,510 680,000 0 0.0 % Transfers 0 763,534 0 763,534 0 0.0 % Total Expenditures and Other Financing Uses 170,949 1,443,534 456,510 1,443,534 0 0.0 % Excess of Revenues Over (Under) Expenditures 555,438 (714,918) (379,243) (1,193,567) (478,649) 67.0 % Fund Balance, Beginning of Year 2,471,172 3,026,610 3,026,610 Fund Balance, End of Year 3,026,610 2,311,692 1,833,043 Fund Description The Technology Replacement Fund was established in Fiscal Year 2014-15 in order to accumulate resources for computer and telephone equipment and software to fund future equipment replacement. Fund Balance is a combination of both spendable and non spendable assets. Contributions to this fund are made by departments utilizing the assets in an amount equivalent to the estimated cost to replace the item at the end of its useful life. 1 City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 330 - SUPPORT SERVICES FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 383,989 393,432 153,379 393,432 0 0.0 % Use of Money and Property Investment Interest 552 0 73 147 147 100.0 % Total Revenues and Other Sources 384,541 393,432 153,452 393,579 147 0.0 % Expenditures by Category Salaries & Benefits 269,472 279,388 125,833 279,388 0 0.0 % Operations & Maintenance 104,681 114,044 82,212 114,044 0 0.0 % Total Expenditures and Other Financing Uses 374,153 393,432 208,046 393,432 0 0.0 % Excess of Revenues Over (Under) Expenditures 10,389 0 (54,594) 147 147-49,000.0 % Fund Balance, Beginning of Year 3,422 13,811 13,811 Fund Balance, End of Year 13,811 13,811 13,958 Fund Description The Support Services Fund was established as a cost center for the City's central receptionist, duplicating, printing, and mailing activities. It is also used to depreciate all related copying and mailing equipment over their useful lives, and to accumulate resources for the purchase of future equipment. Fund Balance is a combination of both spendable and non spendable assets. Departments are charged based on a count of copies made in the previous fiscal year. 1 1 1 Ak T�.e lea.t of Southern CaGfo `Nme County City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 335 - SUPPORT SERVICES REPLACEMENT FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 41,424 25,529 16,551 25,529 0 0.0 % Use of Money and Property Investment Interest 6,718 0 1,284 2,568 2,568 100.0 % Lease/Rental Income 300 0 0 0 0 0.0 % Total Revenues and Other Sources 48,441 25,529 17,835 28,097 2,568 10.1 % Expenditures by Category Operations & Maintenance 58,943 0 0 0 0 0.0 % Capital Outlay 0 10,000 6,589 10,000 0 0.0 % Total Expenditures and Other Financing Uses 58,943 10,000 6,589 10,000 0 0.0 % Excess of Revenues Over (Under) Expenditures (10,502) 15,529 11,246 18,097 2,568 16.5 % Fund Balance, Beginning of Year 389,403 378,901 378,901 Fund Balance, End of Year 378,901 394,430 396,998 Fund Description The Support Services Replacement Fund was established to accumulate resources for the future replacement of the City's duplicating equipment. k n �I FUND: 340 - FACILITIES FUND City of Temecula Fiscal Year 2023-24 Quarterly Budget Report % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 1,634,859 1,953,364 812,156 1,953,364 0 0.0 % Use of Money and Property Investment Interest 10,391 0 2,109 4,219 4,219 100.0 % Reimbursements Other Reimbursements 0 0 24,000 24,000 24,000 100.0 % Total Revenues and Other Sources 1,645,250 1,953,364 838,265 1,981,583 28,219 1.4 % Expenditures by Category Salaries & Benefits 490,954 589,859 235,663 580,921 (8,938) -1.S % Operations & Maintenance 1,149,586 1,101,404 654,421 1,101,404 0 0.0 % Total Expenditures and Other Financing Uses 1,640,540 1,691,263 890,083 1,682,325 (8,938) -0.5 % Excess of Revenues Over (Under) Expenditures 4,709 262,101 (51,818) 299,258 37,157 14.2 % Fund Balance, Beginning of Year 577,617 582,326 582,326 Fund Balance, End of Year 582,326 844,428 881,585 Fund Description The Facilities Fund was established to account for the cost of the Civic Center, Former City Hall Facility, City Maintenance Facility, Field Operations Center, and Civic Center Parking Structure operations and maintenance. Fund Balance is a combination of both spendable and non spendable assets. Departments are charged based on square footage allotted as well as full time staff equivalents assigned. 1 Ak 01 / ✓ ( City of Temecula Fiscal Year 2023-24 Quarterly Budget Report FUND: 350 - FACILITY REPLACEMENT FUND % Change 2023-24 Year to Date 2023-24 Q2 from 2022-23 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2023 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 73,632 98,663 43,366 98,663 0 0.0 % Use of Money and Property Investment Interest 14,402 0 1,227 2,456 2,456 100.0 % Operating Transfers In Contribution From Measure S 660,000 2,050,000 0 2,550,000 500,000 24.4 % Total Revenues and Other Sources 748,034 2,148,663 44,593 2,651,119 502,456 23.4 % Expenditures by Category Operations & Maintenance 89,084 0 0 0 0 0.0 % Capital Outlay 0 158,125 0 158,125 0 0.0 % Transfers 752,924 1,527,128 0 1,527,128 0 0.0 % Total Expenditures and Other Financing Uses 842,008 1,685,253 0 1,685,253 0 0.0 % Excess of Revenues Over (Under) Expenditures (93,974) 463,410 44,593 965,866 502,456 108.4 % Fund Balance, Beginning of Year 746,107 652,133 652,133 Fund Balance, End of Year 652,133 1,115,543 1,617,999 Fund Description The Facility Replacement Fund was established to accumulate resources for the future replacement of equipment, systems and fixtures within City -owned facilities. 1