City of Morgan Hill Fiscal Years 2020- 2022 Recommended Operating and CIP Budgets

General Fund Six-Year Forecast (continued)

18-19

19-20 YEP

20-21 REC

21-22

22-23

23-24

24-25

25-26

Actual

REC Forecast

Forecast 9,258,802 47,454,472 (50,236,408)

Forecast 6,476,866 48,668,221 (51,381,547)

Forecast 3,763,539 49,516,337 (52,693,926)

Beginning Balance

17,604,727 43,424,576 (40,921,543) 17,924,089

17,924,089 41,154,326 (43,843,030) 15,235,385

15,235,385 42,424,254 (45,826,075) 11,833,564

11,833,564 44,256,927 (47,323,608)

8,766,882 49,128,397 (48,636,478)

Revenues/Transfers In Expenses/Transfers Out

Ending Balance

8,766,882

9,258,802

6,476,866

3,763,539

585,951

GF Fund Balance/Reserves (%)

41.3%

37.0%

27.9%

19.8%

18.8%

13.6%

7.7%

1.2%

REVENUE DETAIL

18-19

19-20 YEP

20-21 REC

21-22

22-23

23-24

24-25

25-26

Actual

REC Forecast

Forecast 9,501,000 4,722,000 10,710,000 (300,000) (120,000) 3,400,000 2,492,000 589,000

Forecast 9,871,000 4,911,000 10,924,000 (300,000) (120,000) 3,468,000 2,554,000 613,000

Forecast 10,256,000 5,107,000 11,142,000 (300,000) (120,000) 3,537,000 2,616,000 638,000

Property Tax

8,412,989 3,916,899

9,415,800 4,239,485

8,819,000 4,451,000

8,569,000 4,451,000

9,145,000 4,540,000

VLF In-Lieu Property Tax

RDA Pass-Thru

431,688

529,000

555,000

555,000

566,000

Sales Tax

10,487,960 (145,000) (95,466) 2,893,133 2,322,186

8,957,731 (200,000) (100,000) 2,200,000 2,279,566

8,908,793 (200,000) (100,000) 2,500,000 2,351,000

9,439,601 (200,000) (120,000) 3,267,300 2,375,000

10,500,000 (300,000) (120,000) 3,333,000 2,433,000

Impact Fee Rebates (1) Sales Tax Rebates (2) Transient Occupancy Tax Franchise Fees - GF Public Safety Sales Tax Property Transfer Tax

404,135 549,247

385,000 515,000

383,075 541,000

399,000 541,000

419,000 563,000

427,000 586,000

436,000 609,000

445,000 633,000

Total Taxes

29,177,772

28,221,582

28,208,868

29,276,901

31,079,000

32,007,000

32,966,000

33,954,000

Business License Other Permits

201,762 46,736 248,498 70,186 102,694 172,880 21,366 911,983 89,449

150,000 41,185 191,185

154,500 70,124 224,624

159,135 80,045 239,180 18,571 75,854 94,425 26,026 383,238 54,555 463,820 6,712,433 1,015,931 1,825,440

162,318 81,646 243,963

165,564 83,278 248,843 19,321 78,919 98,239 27,078 398,721 58,345 484,144 6,948,501 1,056,975 1,899,188

168,875 84,944 253,819

172,253 86,643 258,896

Total Licenses/Permits

Parking Enforcement

95,506 70,000

18,079 73,645 91,724

18,942 77,371 96,313

19,707 80,497

20,101 82,107

Other Fines

Total Fines/Penalties

165,506

100,204

102,208

Motor Vehicle Fee

24,652 367,657 62,481 454,790

25,392 475,499 54,444 555,335

26,547 390,903 56,416 473,866 6,815,971 1,036,250 1,861,949

27,620 406,696 60,344 494,659 7,083,691 1,078,115 1,937,172

28,172 414,830 62,417 505,418

Law Enforcement Grants

Other

Total Other Agencies

1,022,799

City Recreation Programs

6,324,724

5,586,043

6,088,092

7,221,594 1,099,677 1,975,915

Facility Rentals

928,474

965,050

882,931

Gen Admin Overhd

1,706,112

1,795,198

1,780,917

Fire Fees

192,218 592,633

344,596 577,339

313,853 601,542

321,700 610,010

328,134 622,210

334,696 634,654

341,390 647,348

348,218 660,294

Other Charges

Total Current Services

9,744,161

9,268,226

9,667,335

10,485,514

10,664,514

10,874,015

11,087,715

11,305,698

Interest Earnings

313,142 205,828 885,932

290,148 244,757 470,474

246,626 569,736 374,894

251,558 571,879 383,095

256,589 579,834 388,046

261,721 587,947 390,289

266,956 596,224 394,068

272,295 604,665 397,964

Other Rentals Miscellaneous

Total Other Revenue

1,404,901

1,005,379

1,191,256

1,206,532

1,224,469

1,239,958

1,257,247

1,274,924

Transfer from Various Funds Transfer from Gas Taxes Transfer from Park Impact

-

180,000 738,968 75,000 703,690 150,000 -

180,000 746,238 75,000 650,000 708,875 125,000

180,000 746,238 75,000 650,000 714,318 125,000

180,000 746,238 75,000 650,000 720,034 125,000

180,000 746,238 75,000 650,000 726,036 125,000

180,000 746,238 75,000 650,000 732,338 125,000

180,000 746,238 75,000 250,000 738,955 125,000

738,968 75,000 698,760 140,836 -

Transfer From Park Maintaintenance

Transfer From Sewer/Water Transfer From Public Safety

Transfer from Development Services

-

-

-

-

2,850,000 5,346,272

-

-

-

Total Transfers In

1,653,564

1,847,658

2,485,113

2,490,556

2,502,274

2,508,576

2,115,193

TOTAL REVENUES

43,424,576

41,154,326

42,424,254

44,256,927

49,128,397

47,454,472

48,668,221

49,516,337

SPECIAL ANALYSIS 321