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Attachment 2 - Baseline Five Year Forecast ATTACHMENT 2 Account Revenue Category 2021/22 Actuals 2022/23 Adjusted Budget 2022/23 Estimates 2023/24 Forecast 2024/25 Forecast 2025/26 Forecast 2026/27 Forecast 2027/28 Forecast 4100 Property Tax 16.9$ 16.6$ 17.0$ 16.3$ 16.8$ 17.3$ 17.8$ 18.4$ 4110 VLF Backfill Property Tax 4.2 4.4 4.6 4.5 4.6 4.8 4.9 5.1 4200 Sales & Use Tax 7.2 7.9 7.5 7.7 8.0 8.2 8.4 8.7 4200 Measure G District Sales Tax 1.3 1.3 1.3 1.3 1.3 1.3 1.4 1.4 4250 Franchise Fees 2.8 2.5 2.7 2.7 2.8 2.9 3.0 3.1 4251 Transient Occupancy Tax 1.9 1.6 2.0 2.1 2.2 2.2 2.3 2.4 4400 Business License Tax 1.5 1.4 2.4 2.5 2.5 2.6 2.6 2.7 4400 Licenses & Permits 4.8 2.8 2.9 2.9 3.0 3.1 3.2 3.3 4500 Intergovernmental 1.3 1.1 1.3 1.0 1.0 1.0 1.2 1.1 4600 Town Services 5.3 4.4 5.1 3.8 3.8 3.9 4.0 4.1 4700 Fines & Forfeitures 0.3 0.2 0.2 0.2 0.2 0.2 0.3 0.3 4800 Interest (1.4) 0.4 0.5 0.4 0.4 0.4 0.4 0.4 4850 Other Sources 7.0 3.2 2.5 2.2 2.2 2.2 2.3 2.2 4900 Fund Transfers In 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 53.7$ 48.3$ 50.5$ 48.1$ 49.3$ 50.6$ 52.3$ 53.7$ p p j Capital 0.6 2.4 2.4 0.8 0.8 0.8 0.8 0.8 Use of Pension/OPEB Reserve 0.3 0.3 0.3 - - - - - Use of Property Surplus Reserve 1.2 1.2 - - - - - - Use of Measure G Reserve 1.1 0.7 - - - - - - ARPA Replacement Revenue - 1.6 - - - - - - 56.9$ 54.5$ 53.2$ 48.9$ 50.1$ 51.4$ 53.1$ 54.5$ Account Expenditure Category 2021/22 Actuals 2022/23 Adjusted Budget 2022/23 Estimates 2023/24 Forecast 2024/25 Forecast 2025/26 Forecast 2026/27 Forecast 2027/28 Forecast 5110 Salary 20.0 23.3 22.0 23.1 23.6 24.1 24.6 25.2 5120 CalPERS Benefits 6.5 7.7 7.1 8.1 8.4 8.5 9.0 9.4 5200 All Other Benefits 3.7 4.6 3.9 4.4 4.5 4.6 4.7 4.8 6211 OPEB Pay as You Go 1.4 1.5 1.6 1.5 1.6 1.7 1.8 1.9 6000 Operating Expenditures 10.4 7.1 7.8 6.9 7.2 7.3 7.6 7.7 7200 Grants & Awards 1.8 0.2 0.6 0.2 0.2 0.2 0.2 0.3 7400 Utilities 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.7 8060 Internal Service Charges 2.6 2.7 2.4 2.9 3.1 3.3 3.7 3.8 8900 Debt Service 2.1 1.9 2.0 2.1 2.1 2.1 1.9 2.1 49.0$ 49.5$ 48.1$ 49.8$ 51.3$ 52.5$ 54.3$ 55.8$ GASB 45 Retiree Medical Actuarial 0.1 - - - - - - - Additional Discretionary Payment - Pension 0.7 0.4 0.7 0.4 0.4 0.4 0.4 0.4 49.8$ 49.9$ 48.8$ 50.2$ 51.7$ 52.9$ 54.7$ 56.2$ Capital Transfers Out to GFAR 1.2 2.3 2.4 0.8 0.8 0.8 0.8 0.8 1/2 of Measure G Proceeds to Capital 0.6 0.7 0.6 0.6 0.7 0.7 0.7 0.7 Fund - 0.4 0.7 - - - - - g Stabilization/Catastrophic 1.1 - - - - - - Allocate to Compensated Absences (0.2) - - - - - - - Allocate to Market Fluctuation (0.4) - - - - - - - Allocate to CalPERS/Pension 0.3 - - - - - - - Allocate from CalPERS/Pension (0.3) - - - - - - - Allocate to Authorized Carryforwards 0.03 - - - - - - - 52.1$ 53.3$ 52.5$ 51.6$ 53.2$ 54.4$ 56.2$ 57.7$ 4.7$ 1.2$ 0.7$ (2.7)$ (3.1)$ (3.0)$ (3.1)$ (3.2)$ * Due to rounding of individual categories FY 2022/23 Estimated Total Expenditures and Reserve Allocations includes $0.1 million. General Fund (111) Forecast does not include Pension Trusts activities. Town of Los Gatos General Fund 5-Year Forecast - Base Case (in $ million) NET REVENUES RESERVE TRANSFERS LESS EXPENDITURES & RESERVE ALLOCATIONS FOR FINAL ALLOCATION AFTER YEAR END CLOSE TOTAL REVENUES, TRANSFERS, AND USE OF RESERVES TOTAL EXPENDITURES & RESERVE ALLOCATIONS TOTAL OPERATING REVENUES & TRANSFERS* TOTAL OPERATING EXPENDITURES TOTAL OPERATING & DISCRETIONARY EXPENDITURES AMOUNTS AVAILABLE FOR RESERVE ALLOCATIONS