2024 05 08 FAC.— {a ey-ibe F-- ERL —
Financial Advisory Commission agendas and
staff reports are now available on the City's
web page: www.laquintaca.gov
FINANCIAL ADVISORY COMMISSION
AGENDA
CITY HALL COUNCIL CHAMBER
78495 Calle Tampico, La Quinta
WEDNESDAY, MAY 8, 2024, AT 4:00 P.M.
******************************
Members of the public may listen to this meeting by tuning -in live via
httD://Iaauinta.12milesout.com/video/live.
CALL TO ORDER
ROLL CALL: Commissioners: Anderson, Batavick, Kiehl, Mast, Mills, Way and Chair Dorsey
PLEDGE OF ALLEGIANCE
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
At this time, members of the public may address the Commission on any matter not listed on the agenda
pursuant to the "Public Comments — Instructions" listed at the end of the agenda. The Commission
values your comments; however, in accordance with State law, no action shall be taken on any item
not appearing on the agenda unless it is an emergency item authorized by the Brown Act [Government
Code § 54954.2(b)].
CONFIRMATION OF AGENDA
ANNOUNCEMENTS. PRESENTATIONS AND WRITTEN COMMUNICATIONS — None
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1. APPROVE MEETING MINUTES DATED APRIL 3, 2024
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED FEBRUARY 29, 2024
BUSINESS SESSION
APPROVE THE FISCAL YEAR 2024/25 MEETING DATES
FINANCIAL ADVISORY COMMISSION AGENDA Page 1 of 4 MAY 8, 2024
STUDY SESSION
1. DISCUSS THE FISCAL YEAR 2024/25 INVESTMENT POLICY
2. DISCUSS THE FISCAL YEAR 2024/25 PRELIMINARY PROPOSED BUDGET
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
2. FOURTH QUARTER 2023 (OCTOBER-DECEMBER) SALES TAX UPDATE FOR THE CITY
OF LA QUINTA
COMMISSIONERS' ITEMS
ADJOURNMENT
The La Quinta Financial Advisory Commission will hold a special meeting on June 5, 2024, commencing
at 4:00 p.m. at the La Quinta City Hall Council Chamber, 78495 Calle Tampico, La Quinta, CA 92253
DECLARATION OF POSTING
I, Jessica Delgado, Secretary of the Financial Advisory Commission of the City of La Quinta, do hereby
declare that the foregoing Agenda for the Commission meeting of May 8, 2024, was posted on the City's
website, near the entrance to the Council Chamber at 78495 Calle Tampico and the bulletin board at
51321 Avenida Bermudas, on May 3, 2024.
DATED: May 3, 2024
Jessica Delgado, Commission Secretary
City of La Quinta, California
Public Notices
Agenda packet materials are available for public inspection: 1) at the Clerk's Office at La Quinta
City Hall, located at 78495 Calle Tampico, La Quinta, California 92253; and 2) on the City's website
at https://www.laguintaca.gov/our-city/city-qovernment/boards-and-commissions/financial-
advisory-commission, in accordance with the Brown Act [Government Code § 54957.5; AB 2647
(Stats. 2022, Ch. 971)].
The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed
for the hearing impaired, please contact Commission Secretary at (760) 777-7150, 24-hours in
advance of the meeting and accommodations will be made.
If background material is to be presented to the Commission during a Commission meeting, please
be advised that 15 copies of all documents, exhibits, etc., must be supplied to the Commission
Secretary for distribution. It is requested that this takes place prior to the beginning of the
meeting.
FINANCIAL ADVISORY COMMISSION AGENDA Page 2 of 4 MAY 8, 2024
PUBLIC COMMENTS — INSTRUCTIONS
Members of the public may address the Commission on any matter listed or not listed on the agenda
as follows:
WRITTEN PUBLIC COMMENTS can be provided either in -person during the meeting by submitting 15
copies to the Commission Secretary, it is requested that this takes place prior to the beginning of the
meeting; or can be emailed in advance to JDelgado(a)_LaQuintaCA.gov, no later than 12:00 p.m., on the
day of the meeting. Written public comments will be distributed to the Commission, made public, and
will be incorporated into the public record of the meeting, but will not be read during the meeting unless,
upon the request of the Chair, a brief summary of public comments is asked to be reported.
If written public comments are emailed, the email subject line must clearly state "Written Comments"
and should include: 1) full name, 2) city of residence, and 3) subject matter.
VERBAL PUBLIC COMMENTS can be provided in -person during the meeting by completing a "Request
to Speak" form and submitting it to the Commission Secretary; it is requested that this takes place prior
to the beginning of the meeting. Please limit your comments to three (3) minutes (or approximately 350
words). Members of the public shall be called upon to speak by the Chair.
In accordance with City Council Resolution No. 2022-028, a one-time additional speaker time donation
of three (3) minutes per individual is permitted; please note that the member of the public donating time
must: 1) submit this in writing to the Commission Secretary by completing a "Request to Speak" form
noting the name of the person to whom time is being donated to, and 2) be present at the time the
speaker provides verbal comments.
Verbal public comments are defined as comments provided in the speakers' own voice and may not
include video or sound recordings of the speaker or of other individuals or entities, unless permitted by
the Chair.
Public speakers may elect to use printed presentation materials to aid their comments; 15 copies of
such printed materials shall be provided to the Commission Secretary to be disseminated to the
Commission, made public, and incorporated into the public record of the meeting; it is requested that
the printed materials are provided prior to the beginning of the meeting. There shall be no use of
Chamber resources and technology to display visual or audible presentations during public comments,
unless permitted by the Chair.
All writings or documents, including but not limited to emails and attachments to emails, submitted to
the City regarding any item(s) listed or not listed on this agenda are public records. All information in
such writings and documents is subject to disclosure as being in the public domain and subject to search
and review by electronic means, including but not limited to the City's Internet Web site and any other
Internet Web -based platform or other Web -based form of communication. All information in such
writings and documents similarly is subject to disclosure pursuant to the California Public Records Act
[Government Code § 7920.000 et seq.].
TELECONFERENCE ACCESSIBILITY — INSTRUCTIONS
Teleconference accessibility may be triggered in accordance with AB 2449 (Stats. 2022, Ch. 285),
codified in the Brown Act [Government Code § 54953], if a member of the Commission requests to
attend and participate in this meeting remotely due to `just cause" or "emergency circumstances," as
FINANCIAL ADVISORY COMMISSION AGENDA Page 3 of 4 MAY 8, 2024
defined, and only if the request is approved. In such instances, remote public accessibility and
participation will be facilitated via Zoom Webinar as detailed at the end of this Agenda.
*** TELECONFERENCE PROCEDURES — PURSUANT TO AB 2449***
APPLICABLE ONLY WHEN TELECONFERENCE ACCESSIBILITY IS IN EFFECT
Verbal public comments via Teleconference — members of the public may attend and participate
in this meeting by teleconference via Zoom and use the "raise your hand" feature when public
comments are prompted by the Chair; the City will facilitate the ability for a member of the public to be
audible to the Commission and general public and allow him/her/they to speak on the item(s) requested.
Please note — members of the public must unmute themselves when prompted upon being
recognized by the Chair, in order to become audible to the Commission and the public.
Only one person at a time may speak by teleconference and only after being recognized by the Chair.
ZOOM LINK: https://us06web.zoom.us/m/82853067939
Meeting ID: 898 3998 4651
Or join by phone: (253) 215 — 8782
Written public comments — can be provided in person during the meeting or emailed to
JDelgado(a)LaQuintaCA.gov any time prior to the adjournment of the meeting, and will be distributed to
the Commission, made public, incorporated into the public record of the meeting, and will not be read
during the meeting unless, upon the request of the Chair, a brief summary of any public comment is
asked to be read, to the extent the Committee can accommodate such request.
FINANCIAL ADVISORY COMMISSION AGENDA Page 4 of 4 MAY 8, 2024
CONSENT CALENDAR ITEM NO. 1
FINANCIAL ADVISORY COMMISSION
iPECIAL MEETIr'
MINUTES
WEDNESDAY, APRIL 3, 2024
CALL TO ORDER
A special meeting of the La Quinta Financial Advisory Commission (Commission) was
called to order at 4:07 p.m. by Chair Dorsey.
PRESENT: Commissioners Anderson, Batavick, Kiehl, Mast, Way and Chair Dorsey
ABSENT: Commissioner Mills
PLEDGE OF ALLEGIANCE
Commissioner Anderson led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA — None
CONFIRMATION OF AGENDA
Staff requested that Study Session Item No. 1 regarding the City's five-year Capital
Improvement Program be moved up on the agenda and considered before the Consent
Calendar. The Commission concurred.
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
1. SALES TAX TRENDS PRESENTATION BY HDL COMPANIES DIRECTOR OF
CLIENT SERVICES BOBBY YOUNG
City Consultant and Director of Client Services of HDL Companies Bobby Young shared his
experience with working with the government sector; provided a breakdown of statewide
and local sales tax trends; online sales tax allocation; the difference between City/County
General Fund (Bradley -Burns) and La Quinta Measure G sales tax; and types of businesses
included as major industry and business groups.
Finance Director Martinez and Mr. Young provided an overview of how sales tax data is
used to create the City's budget and to update sales tax forecast with HDL Companies.
Further discussion followed on sales tax allocation for auto sales for La Quinta residents,
consumer and federal spending, and changes in Measure G sales tax revenue.
STUDY SESSION >>> taken out of Agenda order
FINANCIAL ADVISORY COMMISSION MINUTES Page 1 of 4 APRIL 3, 2024
SPECIAL MEETING
1. DISCUSS PROJECTS TO BE INCLUDED IN FISCAL YEARS 2024125 THROUGH
2028/29 CAPITAL IMPROVEMENT PROGRAM (CIP)
Management Analyst Mignogna and Public Works Director/City Engineer McKinney
presented the staff report, which is on file in the Finance Department.
The Commission and staff discussed CIP transportation projects; funding allocation and
improvements for the cultural campus project; Senate Bill 1 transportation funding; amenities
to be included in the Fritz Burns (FB) park project; types of grants available and process for
applying for a grant; and budgeting for other funding sources.
Commissioner Batavick recommended the following changes to the 5-year CIP:
• Using $2 million more of Measure G funding for the Pavement Management Plan
(PMP) Transportation projects.
• Funding FB park improvements and the Maintenance and Operations Yard project
100% with Measure G funds.
• Consideration of moving the Public Safety Camera System project from fiscal year
2025/26 to fiscal year 2024/25.
Staff said that recommendations would be shared with Council for their consideration and
that a percentage of funding for PMP must be from the General Fund, but an increase in
Measure G funding may be considered.
The Commission and staff discussed the City's procurement process for obtaining bids and
completing projects and the Avenue 50 widening improvements.
The Commission gave their farewells to Management Analyst Mignogna and wished her the
best of luck in her new endeavor.
CONSENT CALENDAR ITEMS
1. APPROVE MEETING MINUTES DATED FEBRUARY 7, 2024
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
DECEMBER 31, 2023
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
JANUARY 31, 2024
Motion — A motion was made and seconded by Commissioners Way/Mast to approve the
Consent Calendar as submitted. Motion passed: ayes — 6, noes — 0, abstain — 0, absent
— 1 (Mills).
BUSINESS SESSION
FINANCIAL ADVISORY COMMISSION MINUTES Page 2 of 4 APRIL 3, 2024
SPECIAL MEETING
1. RECEIVE AND FILE SECOND QUARTER FISCAL YEAR 2023/24 TREASURY
REPORTS FOR OCTOBER, NOVEMBER, AND DECEMBER 2023
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
Motion — A motion was made and seconded by Commissioners Mast/Batavick to receive
and file second quarter fiscal year 2023/24 treasury reports for October, November, and
December 2023. Motion passed: ayes — 6, noes — 0, abstain — 0, absent — 1 (Mills).
2. RECEIVE AND FILE FISCAL YEAR 2023/24 BUDGET UPDATE REPORT
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
The Commission and staff discussed in further detail the required transfer fees paid out by
the Signature at PGA West residential development pursuant to their Development
Agreement with the City to mitigate the loss of transient occupancy tax, as the property was
developed as a residential development in place of a hotel as it was originally contemplated
and zoned for zoning.
Motion — A motion was made and seconded by Commissioners Anderson/Mast to receive
and file fiscal year 2023/24 budget update report. Motion passed: ayes — 6, noes — 0,
abstain — 0, absent — 1 (Mills).
COMMISSIONER WAY LEFT THE MEETING AT 6.00 P.M.
STUDY SESSION — Continued
2. DISCUSS THE 2024 ANNUAL COMMUNITY WORKSHOP AND 2024/25
BUDGET PROCESS
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
The Commission and staff discussed the two additional sessions for strategic planning
mentioned at the City's 2024 Community Workshop, which dates for both sessions are
still to be decided. Mrs. Martinez said that as soon as dates are set, they would be shared
with the Commission.
DEPARTMENTAL REPORTS — All reports are on file in the Finance Department.
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Commissioner Batavick suggested meetings for the 10-year projection task force,
consisting of Commissioners Anderson, Batavick, and Dorsey, not take place until the
FINANCIAL ADVISORY COMMISSION MINUTES Page 3 of 4 APRIL 3, 2024
SPECIAL MEETING
City's fiscal year 2024/25 budget has been finalized. Finance Director Martinez said that
holding a meeting in May or June would be a great starting point to gather ideas on how
the financial projections would be presented.
COMMISSIONERS' ITEMS
The Commission discussed creating a list of CIP project recommendations for Council's
consideration. Commissioner Batavick said he could meet with staff to create the list of
recommendations for the Commission's discussion and review at the May 8 Commission
meeting. The Commission concurred.
Further discussion followed on the City's historical practices when funding for a CIP
project has been over or underestimated.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Batavick/Mast to adjourn this meeting at 6:20 p.m. Motion passed: ayes — 5, noes — 0,
abstain — 0, absent — 2 (Mills and Way).
Respectfully submitted,
Jessica Delgado, Administrative Technician/Commission Secretary
City of La Quinta, California
FINANCIAL ADVISORY COMMISSION MINUTES Page 4 of 4 APRIL 3, 2024
SPECIAL MEETING
CONSENT CALENDAR ITEM NO. 2
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING' May 8, 2024
STAFF REPORT
4GENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
FEBRUARY 29, 2024
RECOMMENDATION
Receive and file revenue and expenditure report dated February 29, 2024.
EXECUTIVE SUMMARY
• The report summarizes the City's year-to-date (YTD) revenues and period
expenditures for February 2024 (Attachment 1).
• These reports are also reviewed by the City Council.
FISCAL IMPACT — None
BACKGROUND/ANALYSIS
Below is a summary of the column headers used on the Revenue and Expenditure Summary
Reports:
Original Total Budqet — represents revenue and expenditure budgets the Council
adopted in June 2023 for fiscal year (FY) 2023/24.
Current Total Budqet — represents original adopted budgets plus any Council
approved budget amendments from throughout the year, including carryovers from
the prior fiscal year.
Period Activity— represents actual revenues received and expenditures outlaid in the
reporting month.
Fiscal Activity — represents actual revenues received and expenditures outlaid YTD.
Variance Favorable/(Unfavorable) - represents the dollar difference between YTD
collections/expenditures and the current budgeted amount.
Percent Used— represents the percentage activity as compared to budget.
Top Five Revenue/Income Sources for Februa
General Fund
Non -General Fund
Property Tax in lieu of Vehicle License Fees
$
2,815,553
CVAG (Dune Palms Construction Reimbursement)
$
840,502
Measure G Sales Tax
$
1,677,790
SilverRock Green Fees
$
635,799
Sales Tax
$
1,273,172
Allocated Interest
$
557,553
Transient Occupancy (Hotel) Tax
$
1,181,654
Gas Tax
$
174,883
Franchise Tax- Cable Television
$
157,004
Citizens' O tion for Pubic Safe COPS Grant
$
94,492
Top Five Expenditures/Outlays for Februa
General Fund
Non -General Fund
Sheriff Contract (October-Novemberr)
$
1,066,806
Capital Improvement Program - Construction(t)
$
956,221
X-Park Programming (January -March)
$
101,020
Machinery & Equipment - Golf Carts (SRR)
$
914,605
Equipment (Wellness Center)
$
98,369
SilverRock Maintenance
$
212,343
Parks Landscape Maintenance
$
67,311
Capital Improvement Program-Design(2)
$
83,794
Golf Tournament
$
57,838
Lighting & Landscape Maintenance
$
74,798
(')CIP Construction: XPark, Cove Trails parking lot improvements, Dune Palms bridge.
(Z)CIP Design: Consulting expenses associated with multiple ongoing capital improvement projects such as Fritz Burns Park, Dune Palms low
water crossing, Cultural Campus.
February 2024 Revenues
Comparison to 2023
Percent of
Percent of
MTD
YTD
Budget
YTD
Budget
General Fund (GF)
$7,722,185
$37,678,968
48.01 %
$36,229,873
49.26%
All Funds
$10,303,573
$75,505,132
38.32%
$61,719,635
33.44%
February 2024 Expenditures
Comparison to 2023
Percent of
Percent of
MTD
YTD
Budget
YTD
Budget
General Fund
$3,023,879
$30,147,734
30.45%
$23,239,930
22.44%
Payroll (GF)
$1,186,517
$7,945,338
59.34%
$8,319,986
60.29%
All Funds
$6,195,369
$78,437,411
34.37%
$55,198,808
24.99%
The revenue report includes revenues and transfers into funds from other funds (income
items). Revenues are not received uniformly throughout the year, resulting in peaks and
valleys. For example, large property tax payments are usually received in December and
May. Similarly, Redevelopment Property Tax Trust Fund payments are typically received in
January and June. Any timing imbalance of revenue receipts versus expenditures is funded
from the City's cash flow reserve.
The expenditure report includes expenditures and transfers out to other funds. Unlike
revenues, expenditures are more likely to be consistent from month to month. However,
large debt service payments or CIP expenditures can cause swings.
Prepared by: Rosemary Hallick, Principal Management Analyst
Approved by: Claudia Martinez, Finance Director
Attachment: 1. Revenue and Expenditure Report for February 29, 2024
ATTACHMENT 1
'd 10XNIA
Fund
101-GENERAL FUND
105 - DISASTER RECOVERY FUND
201- GAS TAX FUND
202 - LIBRARY & MUSEUM FUND
203 - PUBLIC SAFETY FUND (MEAS
210 - FEDERAL ASSISTANCE FUND
212 - SLESA (COPS) FUND
215 - LIGHTING & LANDSCAPING F
220 - QUIMBY FUND
221- AB 939 - CALRECYCLE FUND
223 - MEASURE A FUND
225 - INFRASTRUCTURE FUND
226 - EMERGENCY MANAGEMENT
227 - STATE HOMELAND SECURIT)
230 - CASp FUND, AB 1379
231- SUCCESSOR AGCY PA 1 RORF
235 - SO COAST AIR QUALITY FUN
237 - SUCCESSOR AGCY PA 1 ADM
241- HOUSING AUTHORITY
243 - RDA LOW -MOD HOUSING FL
247 - ECONOMIC DEVELOPMENT 1
249 - SA 2011 LOW/MOD BOND FI
250-TRANSPORTATION DIF FUNC
251- PARKS & REC DIF FUND
252 - CIVIC CENTER DIF FUND
253 - LIBRARY DEVELOPMENT DIF
254 - COMMUNITY & CULTURAL C
255 - STREET FACILITY DIF FUND
256 - PARK FACILITY DIF FUND
257 - FIRE PROTECTION DIF
259 - MAINTENANCE FACILITIES D
270 - ART IN PUBLIC PLACES FUNC
275 - LQ PUBLIC SAFETY OFFICER
299 - INTEREST ALLOCATION FUN[
310 - LQ FINANCE AUTHORITY DEE
401- CAPITAL IMPROVEMENT PR(
405 - SA PA 1 CAPITAL IMPRV FUN
501- FACILITY & FLEET REPLACEM
502 - INFORMATION TECHNOLOG'
503 - PARK EQUIP & FACILITY FUN
504 - INSURANCE FUND
601- SILVERROCK RESORT
602 - SILVERROCK GOLF RESERVE
760 -SUPPLEMENTAL PENSION PL
761- CERBT OPEB TRUST
762 - PARS PENSION TRUST
Report Total:
For Fiscal: 2023/24 Period Ending: 02/29/2024
Revenue Summary
Variance
Original
Current
Period
Fiscal
Favorable
Percent
Total Budget
Total Budget
Activity
Activity
(Unfavorable)
Used
78,478,100
78,478,100
7,722,185
37,678,968
-40,799,132
48.01%
15,000
15,000
0
-8,794
-23,794
58.63%
2,458,600
2,458,600
174,883
1,603,313
-855,287
65.21%
2,922,000
2,922,000
307
206,311
-2,715,689
7.06%
2,500
2,500
0
-179
-2,679
7.17%
156,000
336,349
0
180,347
-156,002
53.62%
101,500
101,500
94,492
127,398
25,898
125.52%
2,992,000
2,992,000
0
2,542,766
-449,234
84.99%
50,000
50,000
0
0
-50,000
0.00%
70,000
70,000
278
22,534
-47,466
32.19%
2,028,000
2,028,000
0
765,905
-1,262,095
37.77%
500
500
0
-17
-517
3.41%
12,500
12,500
0
0
-12,500
0.00%
5,000
5,000
0
0
-5,000
0.00%
20,500
20,500
1,592
10,751
-9,749
52.45%
0
0
57
5,153,032
5,153,032
0.00%
55,000
55,000
0
13,431
-41,569
24.42%
0
0
0
-165
-165
0.00%
1,401,500
1,401,500
88,216
1,196,406
-205,094
85.37%
30,000
30,000
0
-3,375
-33,375
11.25%
20,000
20,000
1,130
52,149
32,149
260.75%
36,000
1,423,009
0
38,877
-1,384,132
2.73%
1,520,000
1,520,000
41,943
158,441
-1,361,559
10.42%
751,500
751,500
21,060
155,397
-596,103
20.68%
501,500
501,500
12,420
44,403
-457,097
8.85%
100,000
100,000
3,970
13,498
-86,502
13.50%
252,500
252,500
9,560
31,636
-220,864
12.53%
1,000
1,000
0
-71
-1,071
7.10%
100
100
0
-7
-107
6.69%
151,500
151,500
3,725
13,193
-138,307
8.71%
101,000
101,000
3,236
11,969
-89,031
11.85%
154,000
154,000
5,938
81,566
-72,434
52.97%
2,500
2,500
0
1,953
-547
78.12%
0
0
557,553
4,438,019
4,438,019
0.00%
1,100
1,100
0
0
-1,100
0.00%
17,950,700
89,820,762
840,502
13,109,281
-76,711,481
14.59%
1,500
1,500
0
-5
-1,505
0.36%
1,685,000
1,685,000
0
775,064
-909,936
46.00%
2,256,708
2,256,708
2,952
1,545,253
-711,455
68.47%
470,000
470,000
0
496,660
26,660
105.67%
1,362,230
1,362,230
0
680,073
-682,157
49.92%
5,277,950
5,277,950
695,426
3,929,237
-1,348,713
74.45%
87,000
87,000
0
81,446
-5,554
93.62%
6,000
6,000
0
4,931
-1,069
82.18%
20,000
20,000
0
100,758
80,758
503.79%
100,000
100,000
22,146
252,776
152,776
252.78%
123,608,488
197,045,908
10,303,573
75,505,132
-121,540,776
38.32%
Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best resource for all final audited numbers.
Page 1 of 3
For Fiscal: 2023/24 Period Ending: 02/29/2024
Expenditure Summary
Variance
Original
Current
Period
Fiscal
Favorable
Percent
Fund
Total Budget
Total Budget
Activity
Activity
(Unfavorable)
Used
101- GENERAL FUND
72,828,750
99,002,131
3,023,879
30,147,734
68,854,397
30.45%
201- GAS TAX FUND
2,802,400
4,811,461
93,806
1,835,421
2,976,040
38.15%
202 - LIBRARY & MUSEUM FUND
2,240,160
4,934,483
20,374
619,874
4,314,609
12.56%
203 - PUBLIC SAFETY FUND (MEAS
0
41,687
0
9,687
32,000
23.24%
210 - FEDERAL ASSISTANCE FUND
156,300
336,649
0
180,349
156,300
53.57%
212 - SLESA (COPS) FUND
100,000
100,000
6,560
28,790
71,210
28.79%
215 - LIGHTING & LANDSCAPING F
3,186,915
3,353,915
190,677
1,528,163
1,825,752
45.56%
220 - QUIMBY FUND
0
445,176
0
0
445,176
0.00%
221- AB 939 - CALRECYCLE FUND
150,000
150,000
18,507
111,659
38,341
74.44%
223 - MEASURE A FUND
1,865,000
4,810,319
0
2,602,239
2,208,080
54.10%
226 - EMERGENCY MANAGEMENT
12,000
12,000
0
9,950
2,050
82.92%
227 - STATE HOMELAND SECURIT)
5,000
5,000
0
0
5,000
0.00%
230 - CASp FUND, AB 1379
5,500
5,500
0
0
5,500
0.00%
231- SUCCESSOR AGCY PA 1 RORF
0
0
0
15,000,437
-15,000,437
0.00%
235 - SO COAST AIR QUALITY FUN
54,000
54,000
0
25,316
28,684
46.88%
237 - SUCCESSOR AGCY PA 1 ADM
0
0
0
5,850
-5,850
0.00%
241- HOUSING AUTHORITY
1,596,340
1,996,340
111,825
1,255,007
741,333
62.87%
243 - RDA LOW -MOD HOUSING FL
250,000
300,000
0
0
300,000
0.00%
247 - ECONOMIC DEVELOPMENT 1
31,500
31,500
1,600
22,005
9,495
69.86%
249 - SA 2011 LOW/MOD BOND FI
250,000
3,824,192
0
3,582,426
241,766
93.68%
250- TRANSPORTATION DIF FUNC
550,000
1,669,775
0
401,335
1,268,440
24.04%
251- PARKS & REC DIF FUND
650,000
1,121,285
0
7,715
1,113,570
0.69%
252 - CIVIC CENTER DIF FUND
0
249,925
0
0
249,925
0.00%
253 - LIBRARY DEVELOPMENT DIF
15,000
15,000
0
0
15,000
0.00%
254 - COMMUNITY & CULTURAL C
0
125,000
0
0
125,000
0.00%
259 - MAINTENANCE FACILITIES D
180,000
180,000
0
0
180,000
0.00%
270 - ART IN PUBLIC PLACES FUNC
233,000
742,711
14,652
75,425
667,287
10.16%
310 - LQ FINANCE AUTHORITY DEE
1,100
1,100
0
0
1,100
0.00%
401- CAPITAL IMPROVEMENT PR(
17,950,700
84,998,963
1,083,967
13,141,675
71,857,288
15.46%
501- FACILITY & FLEET REPLACEM
1,448,750
2,331,044
41,282
328,349
2,002,694
14.09%
502 - INFORMATION TECHNOLOG'
3,082,620
3,277,620
100,393
1,347,822
1,929,798
41.12%
503 - PARK EQUIP & FACILITY FUN
2,242,200
3,092,200
8,594
683,017
2,409,183
22.09%
504 - INSURANCE FUND
1,118,000
1,118,000
1,143
1,107,755
10,245
99.08%
601- SILVERROCK RESORT
5,034,993
5,034,993
1,475,432
4,345,139
689,854
86.30%
760 -SUPPLEMENTAL PENSION PL
12,850
12,850
0
12,833
17
99.87%
761- CERBT OPEB TRUST
1,800
1,800
0
782
1,018
43.46%
762 - PARS PENSION TRUST
30,000
30,000
2,678
20,657
9,343
68.86%
Report Total:
118,084,878
228,216,619
6,195,369
78,437,411
149,779,208
34.37%
Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best resource for all final audited numbers.
Page 2 of 3
Fund Descriptions
Fund #
Name
Notes
101
General Fund
The primary fund of the City used to account for all revenue and expenditures of the City; a broad range of municipal
activities are provided through this fund.
105
Disaster Recovery Fund
Accounts for use of one-time federal funding designed to deliver relief to American workers and aid in the economic
recovery iin the wake of COVID-19. The American Rescue Plan Act (ARPA) was passed by Congress in 2021 to
provide fiscal recovery funds to state and local governments.
201
Gas Tax Fund
Gasoline sales tax allocations received from the State which are restricted to street -related expenditures.
202
Library and Museum Fund
Revenues from property taxes and related expenditures for library and museum services.
203
Public Safety Fund
General Fund Measure G sales tax revenue set aside for public safety expenditures.
210
Federal Assistance Fund
Community Development Block Grant (CDBG) received from the federal government and the expenditures of those
resources.
212
SLESF (COPS) Fund
Supplemental Law Enforcement Services Funds (SLESF) received from the State for law enforcement activities.
Also known as Citizen's Option for Public Safety (COPS).
215
Lighting & Landscaping Fund
Special assessments levied on real property for city-wide lighting and landscape maintenance/improvements and the
expenditures of those resources.
220
Quimby Fund
Developer fees received under the provisions of the Quimby Act for park development and improvements.
221
AB939 Fund/Cal Recycle
Franchise fees collected from the city waste hauler that are used to reduce waste sent to landfills through recycling
efforts. Assembly Bill (AB) 939.
223
Measure A Fund
County sales tax allocations which are restricted to street -related expenditures.
224
TUMF Fund
Developer -paid Transportation Uniform Mitigation Fees (TUMF) utilized for traffic projects in Riverside County.
225
Infrastructure Fund
Developer fees for the acquisition, construction or improvement of the City's infrastructure as defined by Resolution
226
Emergency Mgmt. Performance Grant (EMPG)
Federal Emergency Management Agency (FEMA) grant for emergency preparedness.
227
State Homeland Security Programs (SHSP)
Federal Emergency Management Agency (FEMA) grant for emergency preparedness.
230
CASP Fund, AB1379 / SB1186
Certified Access Specialist (CASp) program fees for ADA Accessibility Improvements; derived from Business
License renewals. Assembly Bill (AB) 1379 and Senate Bill (SB) 1186.
231
Successor Agency PA 1 RORF Fund
Successor Agency (SA) Project Area (PA) 1 Redevelopment Obligation Retirement Fund (RORF) for Redevelopment
Property Tax Trust Fund (RPTTF) taxes received for debt service payments on recognized obligations of the former
Redevelopment Agency (RDA).
235
SO Coast Air Quality Fund (AB2766, PM10)
Contributions from the South Coast Air Quality Management District. Uses are limited to the reduction and control of
airborne pollutants. Assembly Bill (AB) 2766.
237
Successor Agency PA 1 Admin Fund
Successor Agency (SA) Project Area (PA) 1 for administration of the Recognized Obligation Payment Schedule
(ROPS) associated with the former Redevelopment Agency (RDA).
241
Housing Authority
Activities of the Housinq Authority which is to promote and provide quality affordable housinq.
243
RDA Low -Moderate Housing Fund
Activities of the Housing Authority which is to promote and provide quality affordable housing. Accounts for RDA loan
repayments (20 /o for Housinq) and housinq proqrams,.
244
Housing Grants
Activites related Local Early Action Planning (LEAP) and SB2 grants for housing planning and development.
247
Economic Development Fund
Proceeds from sale of City -owned land and transfers from General Fund for future economic development.
249
SA 2011 Low/Mod Bond Fund
Successor Agency (SA) low/moderate housing fund; 2011 bonds refinanced in 2016.
250
Transportation DIF Fund
Developer impact fees collected for specific public improvements - transportation related.
251
Parks & Rec. DIF Fund
Developer impact fees collected for specific public improvements - parks and recreation.
252
Civic Center DIF Fund
Developer impact fees collected for specific public improvements - Civic Center.
253
Library Development DIF Fund
Developer impact fees collected for specific public improvements - library.
254
Community Center DIF Fund
Developer impact fees collected for specific public improvements - community center.
255
Street Facility DIF Fund
Developer impact fees collected for specific public improvements - streets.
256
Park Facility DIF Fund
Developer impact fees collected for specific public improvements - parks.
257
Fire Protection DIF Fund
Developer impact fees collected for specific public improvements - fire protection.
259
Maintenance Facilities DIF Fund
Developer impact fees collected for specific public improvements - maintenance facilities.
270
Art In Public Places Fund
Developer fees collected in lieu of art placement; utilized for acquisition, installation and maintenance of public
artworks.
275
LQ Public Safety Officer Fund
Annual transfer in from General Fund; distributed to public safety officers disabled or killed in the line of duty.
299
Interest Allocation Fund
Interest earned on investments.
310
LQ Finance Authority Debt Service Fund
Accounted for the debt service the Financing Authority's outstanding debt and any related reporting requirements.
This bond was fully paid in October 2018.
401
Capital Improvement Program Fund
Planning, design, and construction of various capital projects throughout the City.
405
SA PA 1 Capital Improvement Fund
Successor Agency (SA) Project Area (PA) 1 bond proceeds restricted by the bond indenture covenants. Used for
SilverRock infrastructure improvements.
501
Equipment Replacement Fund
Internal Service Fund for vehicles, heavy equipment, and related facilities.
502
Information Technology Fund
Internal Service Fund for computer hardware and software and phone systems.
503
Park Equipment & Facility Fund
Internal Service Fund for park equipment and facilities.
504
Insurance Fund
Internal Service Fund for city-wide insurance coverages.
601
SilverRock Resort Fund
Enterprise Fund for activities of the city -owned golf course.
602
SilverRock Golf Reserve Fund
Enterprise Fund for golf course reserves for capital improvements.
760
Supplemental Pension Plan (PARS Account)
Supplemental pension savings plan for excess retiree benefits to general employees of the City.
761
Other Post Benefit Obligation Trust (OPEB)
For retiree medical benefits and unfunded liabilities.
762
Pension Trust Benefit (PARS Account)
I For all pension -related benefits and unfunded liabilities.
Page 3 of 3
BUSINESS SESSION ITEM NO. 1
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: May 8, 2024
STAFF REPORT
AGENDA TITLE: APPROVE THE FISCAL YEAR 2024/25 MEETING DATES
RECOMMENDATION
Approve the fiscal year 2024/25 meeting dates.
EXECUTIVE SUMMARY
• Annually the Financial Advisory Commission (FAC) and staff discuss and select meeting dates
for the following fiscal year.
The FAC shall meet quarterly with the ability to schedule special meetings as needed
throughout the year.
FISCAL IMPACT
FAC members are eligible to receive $75 per member per meeting attended. The proposed 2024/25
budget will be $3,700 for four regularly scheduled quarterly meetings plus an allowance for three
special meetings per year for a seven -member Commission.
DAUKUKUUNWANALYSIS
The FAC shall meet quarterly and may schedule additional special meetings as needed.
Meeting dates for the current fiscal year 2023/24 are as follows:
August 9, 2023 — Wednesday
October 4, 2023 — Wednesday, proposed special meeting
November 8, 2023 — Wednesday
December 20, 2023 — Wednesday, proposed special meeting
February 7, 2024 — Wednesday
April 3, 2024 — Wednesday, proposed special meeting
May 8, 2024 — Wednesday
June 5, 2024 — Wednesday, proposed special meeting
Proposed Meeting dates for the next fiscal year 2024/25 are as follows:
August 14, 2024 — Wednesday
October 2, 2024 — Wednesday, proposed special meeting
November 13, 2024 — Wednesday
December 4, 2024 — Wednesday, proposed special meeting
February 12, 2025 — Wednesday
April 9, 2025 — Wednesday, proposed special meeting
May 7, 2025 — Wednesday
June 11, 2025 — Wednesday, proposed special meeting
ALTERNATIVES -
The FAC may amend the proposed meeting dates.
Prepared by: Claudia Martinez, Finance Director
STUDY SESSION ITEM NO. 1
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING May 8, 2024
STAFF REPORT
AGENDA TITLE: DISCUSS THE FISCAL YEAR 2024/25 INVESTMENT POLICY
'COMMENDATION
Discuss the Fiscal Year 2024/25 Investment Policy.
EXECUTIVE SUMMARY
• As part of their work plan, and as stated in Section XVIII of the City's Investment
Policy (the Policy), the Financial Advisory Commission (FAC) is asked to review
the Policy annually.
• Recommended revisions are also reviewed by the City Manager and City Attorney.
• By City Code, City Council must adopt the policy by the end of June of each year.
FISCAL IMPAC i -None.
BACKGROUND
The City has been awarded the Investment Policy Certificate of Excellence from the
Association of Public Treasurers of the United States and Canada (APT US&C), and the
policy has been certified by the California Municipal Treasurers Association (CMTA). With
these recognitions the City believes the policy is sound and generally not in need of major
revisions. In addition, there were no new regulatory changes in FY 2023/24 that impacted
the City's policy and would need to be noted. Therefore, staff recommends only
operational changes to the current policy that still remain within the legal bounds of
California government code, protect the safety and liquidity of the portfolio, and allow staff
to maximize yield when prudent. The following edits, along with punctuation or format
changes and updates to the dates, are identified as red -lined in Attachment 1:
• Section V Maximum Maturities: Added the ability to go up to 30 days past the 5-
year maximum in order to allow for purchases of certain investments that have
maturity dates more than five years beyond the settlement date. For example, if a
5-year Certificate of Deposit published in May 2024 with a maturity date of May
26, 2029, and settlement of May 24, 2024, technically the City would not
currently be able to buy it as this is a 5-year plus 2-day timeframe.
• Section X Permissible Deposits and Investments: Staff is recommending that the
annual limit for Government Agency Securities be raised from $20 million to $30
million per issuer. In order to allow for diversification, and to be able to purchase
securities that offer the best yield for the City at any particular moment in time,
the City needs additional purchasing power in these agency bonds. The City's
portfolio has grown from approximately $163 million in 2019 to $222 million in
2024, and currently is at max in two of the four allowed agencies. This hinders
staff's ability to select the best investment offered. There is no limit on this
investment class in the California Government Code §53601(f).
• Edit to Appendix D-Approved Financial Institutions: Bank of the West was acquired
by BMO and transition to the new name was completed in the Fall of 2023; BMO
Commercial Bank was added to the list for 2023/24, and now Bank of the West is
being removed. In addition, during 2023/24 the City transitioned its investment
holdings from BNY Mellon to US Bank Trust Company, which was already an
approved custodial bank for the City. BNY Mellon is being removed from the list.
• Edit Appendix C-Segregation of Major Investment Responsibilities: Aligned a job
title to match City Authorized Positions list — changed Accounting Manager to
Finance Manager.
4LTERNATIVES
The policy has been recognized by APT US&C and CMTA as being comprehensive as
written, and therefore no alternatives are recommended at this time.
Prepared by: Rosemary Hallick, Principal Management Analyst
Approved by: Claudia Martinez, Finance Director
Attachment: 1. Draft Investment Policy for Fiscal Year 2024/25 (red -lined)
Fiscal Year 2023-2024
2024/2025 Table of
Contents
Section Topic
Page
Executive Summary
1
I
General Purpose
2
II
Investment Policy
2
III
Scope
2
IV
Objectives
3
V
Maximum Maturities
5
VI
Prudence
5
VII
Authority
5
VIII
Ethics and Conflicts of Interest
6
IX
Authorized Financial Dealers and Institutions
6
X
Permissible Deposits and Investments
7
XI
Investment Pools
10
XII
Payment and Custody
10
XIII
Interest Earning Distribution Policy
11
XIV
Internal Controls and Independent Auditors
11
XV
Reporting Standards
12
XVI
Review of Investment Portfolio
13
XVII
Financial Advisory Commission — City of La Quinta
13
XIII
Investment Policy Adoption
13
Appendices Top i c
Page
A
Municipal Code Ordinance 2.70 — Financial Advisory Commission
14
B
Municipal Code Ordinance 3.08 — Investment of Moneys and Funds
16
C
Segregation of Major Investment Responsibilities
18
D
Listing of Approved Financial Institutions
19
E
Investment Management Process and Risk
20
F
Glossary
22
CITY OF LA QUINTA
Investment Policy Fiscal
Year 2023/2024 2024/2025
EXECUTIVE SUMMARY
The general purpose of this Investment Policy is to provide the rules and standards that must be
followed in administering the City of La Quinta's (the "City") deposits and investments.
The City's Investment Policy conforms to all state and local statutes and applies to all deposits
and investments of the City, with the exception of bond proceeds and those noted in section III
herein.
It is the City's policy to deposit and invest public funds in a manner that shall provide safety of
principal, liquidity to meet the City's obligations and requirements that may be reasonably
anticipated, and a risk -based market rate of return.
Authority to manage the City's investment portfolio is derived from the City Municipal Code.
Management responsibility for the investment program is delegated to the City Treasurer, who
shall establish and implement written procedures for the operation of the City's investment
program consistent with the Investment Policy.
The City Manager, City Treasurer, and City employees involved in the City's banking and
investment process shall conduct the City's business in an ethical manner and refrain from any
activity or relationship that may be, or have the appearance of, a conflict of interest.
The Investment Policy shall be adopted by resolution of the La Quinta City Council on an annual
basis, before the end of each fiscal year (June).
Page 1 of 27
City of La Quinta
Statement of Investment Policy July 1, 2023 4 through June 30, 2024 5 Adopted by the
City Council on June 20, 2023 18, 2024
I. GENERAL PURPOSE
The general purpose of this document is to provide the rules and standards that must be followed
in administering the City of La Quinta's deposits and investments.
II. INVESTMENT POLICY
It is the policy of the City of La Quinta to deposit and invest public funds in a manner that shall
conform to all State and local statutes governing the investment of public funds and set forth the
permissible deposits and investments of the City's funds and the limitations thereon.
III. SCOPE
Except noted below, this Investment Policy applies to all deposits and investments of the City of
La Quinta, the Successor Agency to the City of La Quinta Redevelopment Agency, and the City
of La Quinta Financing and Housing Authorities. These funds are reported in the City's Annual
Comprehensive Financial Report (ACFR) and include all funds within the following fund types:
➢ General
➢ Special Revenue
➢ Capital Projects
➢ Debt Service
➢ Enterprise
➢ Internal Service
➢ Trust and Agency
➢ Any new fund types and fund(s) that may be created.
Financial assets and investment activity not subject to this policy
The City's Investment Policy does not apply to the following:
➢ Cash and Investments raised from Conduit Debt Financing;
➢ Funds held in trust in the City's name in pension or other post -retirement benefit
programs;
➢ Cash and Investments held in lieu of retention by banks or other financial institutions for
construction projects;
➢ Short or long-term loans made to other entities by the City or Agency;
➢ Short term (Due to/from) or long term (Advances from/to) obligations made either
between the City and its funds or between the City and Agency; and
➢ Investment of bond proceeds. The City's Investment Policy shall not govern bond
proceeds and bond reserve fund investments. California Code Section
Page 2 of 27
5922(d) governs the investment of bond proceeds and reserve funds in accordance with
bond indenture provisions.
Arbitrage Requirement - The US Tax Reform Act of 1986 requires the City to perform
arbitrage calculations and return excess earnings to the US Treasury from investments of
proceeds of bond issues sold after the effective date of this law. These arbitrage calculations
may be contracted with an outside source to provide the necessary technical assistance to
comply with this regulation. Investable funds subject to the 1986 Tax Reform Act will be kept
segregated from other funds and records will be kept in a fashion to facilitate the
calculations.
The City's investment position relative to the arbitrage restrictions is to continue pursuing the
maximum yield on applicable investments while ensuring the safety of capital and liquidity,
and to rebate excess earnings, if necessary.
M OBJECTIVES
The objectives of the City's investment activity, in order of priority and importance, are:
A. Safety of Principal
Safety of principal is the foremost objective of the City's investment program. Investments shall
be undertaken in a manner that seeks to ensure the preservation of principal of the overall
portfolio in accordance with the permissible deposits and investments.
The City shall endeavor to preserve its investment principal by making only permissible deposits
and investments, undertaken in a controlled manner to minimize the possibility of loss or
misappropriation through malfeasance or otherwise. Investments not backed by the full faith and
credit of the United States Government shall be diversified by allocating assets between
different types of permissible investments, maturities, and issuers as a means to mitigate credit
risk and interest rate risk. Investment in any single security type or single financial institution shall
be limited to the maximum percentages and/or dollar amounts as noted in Section X.
1. Credit Risk is the risk of loss from the failure of the security issuer or backer. Credit risk
may be mitigated by:
• Limiting investments to investment grade securities as permitted in Section X;
and
• Diversification- reducing concentration risk by limiting the totalamount invested in
individual issuers of securities in the investment portfolio so that potential losses
due to issuer failure or securities downgrades may be minimized.
2. Interest Rate Risk is the risk that market values of securities in the portfolio will decline
due to changes in general interest rates. Interest rate risk may be mitigated by:
Page 3 of 27
• Structuring the investment portfolio so that securities mature to meet cash
requirements for ongoing operations, thereby avoiding the need to sell securities
on the open market prior to maturity; and
• Investing operating funds primarily in shorter -term securities.
3. Liquidity Risk is the risk that a security cannot be liquidated because of its unique
features or structure or because it is thinly traded. Liquidity risk is not a material issue for
the City's portfolio because of the permissible deposits and investments (see Section X). A
discussion of the City's investment process and risk is presented in Appendix E.
B. Provide Liquidity
The investment portfolio shall remain sufficiently liquid to meet all of the City's cash needs that
may be reasonably anticipated. This is accomplished by structuring the portfolio so that
sufficient liquid funds are available to meet anticipated demands. Furthermore, since all
possible cash needs cannot be anticipated the portfolio should be diversified and consist of
securities with active secondary or resale markets.
The City's policy is to generally hold securities and other investments to maturity. However,
securities may be sold prior to maturity under certain circumstances as follows:
• A security with declining credit quality can be sold early to minimize loss of principal.
• Unanticipated liquidity needs of the portfolio require that one or more securities be sold.
• When a sale/repurchase is fiscally advantageous based on market conditions and fits
the needs of the portfolio
C. Yield a Risk -Based Market Rate of Return
The City's investment portfolio shall be structured with the objective of yielding a risk -based
market rate of return throughout budgetary and economic cycles. Return on investment is less
important than the safety and liquidity objectives described above.
The City's Investment Policy does not specify a single benchmark as a goal ortarget yield for a
rate of return on its investment portfolio. The portfolio's rates of return will be influenced by
several factors, including actions by the Federal Reserve Board, the marketplace, and overall
economic perceptions and conditions.
Performance Standards: As a basis for comparison only, the Treasurer's quarterly reports will
display the rates of return on the three-month Bill, six-month Bill, the one and two-year U.S.
Treasury Note, and the yield for the State Treasurer's Local Agency Investment Fund (LAIF).
The Treasurer may use these or any other published rates of return that the Treasurer deems
appropriate for comparison to the return on the City's investment portfolio.
Page 4 of 27
The investment portfolio shall be designed with the objective of obtaining a market rate of return
throughout budgetary and economic cycles, commensurate with the investment risk constraints
and the cash flow needs.
V. MAXIMUM MATURITIES
It is the City's policy to generally hold securities and other investments until maturity. This buy -and -
hold policy shall not prevent the sale of a security as listed in section IV.B
The general buy -and -hold strategy requires that the City's investment portfolio be structured so
that sufficient liquid funds are available from maturing investments and other sources to meet all
reasonably anticipated cash needs.
The City shall follow Title 5 of the California Government Code §53601 (the "State Code")
regarding maximum maturities, in that "no investment shall be made in any security... that at the
time of the investment has a term remaining to maturity in excess of five years, unless the
legislative body has granted express authority to make that investment either specifically or as
part of an investment program approved by the legislative body no less that three months prior
to the investments". In order to accommodate the occasional occurence of settlement dates
slightly exceeding five (5) years to final maturity, the City may invest in any security that has a
maturity of five (5) years plus up to thirty (30) days from settlement date.
VI. PRUDENCE and FIDUCIARY DUTY
The City shall follow the State Code §53600.3 regarding fiduciary duty and the Prudent
Investor Standard as follows:
Except as provided in subdivision (a) of §27000.3, all governing bodies of local agencies
or persons authorized to make investment decisions on behalf of those local agencies
investing public funds pursuant to this chapter are trustees and therefore fiduciaries subject to
the prudent investor standard. When investing, reinvesting, purchasing, acquiring,
exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence,
and diligence under the circumstances then prevailing, including, but not limited to, the general
economic conditions and the anticipated needs of the agency, that a prudent person
acting in a like capacity and familiarity with those matters would use in the conduct of funds
of a like character and with like aims, to safeguard the principal and maintain the liquidity
needs of the agency. Within the limitations of this section and considering individual
investments as part of an overall strategy, investments may be acquired as authorized by law.
VII. AUTHORITY
Authority to manage the City's investment portfolio is derived from Chapter 3.08 of the City's
Municipal Code. Management responsibility for the investment program is delegated to the
City Treasurer for a period of one year pursuant to the City Council's annual adoption of
the Investment Policy.
The City Treasurer shall establish written procedures for the operation of the
investment program consistent with the Investment Policy. Procedures should include
reference to safekeeping, wire transfer agreements, banking service contracts, and
collateral/depository agreements. Such procedures shall include explicit delegation of
authority to persons responsible for investment transactions. No person may
Page 5 of 27
engage in an investment transaction except as provided under the terms of this Investment
Policy (see Appendix C) and the procedures established by the City Treasurer. The City
Treasurer shall be responsible for all transactions undertaken and shall establish a system
of controls to regulate the activities of subordinate officials.
VIII. ETHICS AND CONFLICTS OF INTEREST
The City Manager, City Treasurer, and City employees involved in the City's banking and
investment process shall conduct the City's business in an ethical manner and refrain from any
activity or relationship that may be, or have the appearance of, a conflict of interest. The City will
maintain compliance with the procedures set forth in the Conflicts of Interest and Acceptance of
Gifts and other Gratuities section of the City of La Quinta Personnel Manual and the City's
Municipal Code Chapter 2.60 Conflicts of Interest. Any questionable activity or relationship shall
be reported immediately; reporting must be made in accordance with the personnel policies of
the City and, until resolved, the officer or employee shall refrain from participating in the City's
business related to the matter.
The City Manager, City Treasurer, and City employees may conduct personal business with
banks, brokers, and other financial institutions that are authorized to conduct business with
the City provided that the terms of the activity to the account holder with the City are the
same as those that are available to the public in general, or to all employees as a result
of contract negotiations.
IX. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
The City Treasurer maintains a listing of financial institutions which are approved for direct
investment purposes, as well as a list of approved broker/dealers.
1. Broker/Dealers who desire to become bidders for offer direct investment
transactions must supply the City with the following:
• Current audited financial statements;
• Proof of Financial Industry Regulatory Authority (FINRA) Certification;
• Proof of State of California registration;
• Resume of financial broker; and
• Completion of the City of La Quinta Broker/Dealer Questionnaire, which contains
a certification of having read the City's Investment Policy.
The City Treasurer or designee shall evaluate the documentation submitted by the
broker/dealer and independently verify existing reports on file for any firm and/or
individual(s) conducting investment related business.
The City Treasurer or designee may also contact the following agencies during the
verification process:
• Financial Industry Regulatory Authority (FINRA) Public Disclosure Report File (1-
800-289-9999).
Page 6 of 27
• State of California Department of Financial Protection and Innovation (1- 866-275-
2677).
A professional investment manager or management firm, if engaged by the City
pursuant to Section X of this policy, may utilize their own list ofapproved broker/dealers
on the condition that any such list is provided to the City upon request.
All Broker/Dealers and financial institutions that provide investment services will be
subject to City Council approval.
An annual review of the financial condition and registrations of approved broker/dealers
will be conducted by the City Treasurer or designee. Current audited financial
statements and/or System and Organizational Controls (SOC-1 and/or SOC-2)
internal control reports may be maintained on file for each financial institution and
broker/dealer with which the City conducts business. Each mutual fund shall
provide a prospectus and statement of additional information.
2. Financial Institutions will be required to meet the following criteria in order to receive
City funds for deposit or investment (see Appendix D, "Listing of Approved Financial
Institutions"):
• Insurance - Public Funds shall be deposited only in financial institutions having
accounts insured by the Federal Deposit Insurance Corporation (FDIC) or the
National Credit Union Share Insurance Fund (NCUSIF).
• Disclosure - Each financial institution maintaining invested funds in excess of the
FDIC insured amount shall furnish the City a copy of the most recent Call Report
(Consolidated Reports of Condition and Income) if requested. These reports can
also be found at: https://cdr.ffiec.gov/public/ManageFacsimiles.aspx
The City shall not invest or deposit in excess of the FDIC insured amount in banking
institutions which do not disclose to the city a current listing of securities pledged for
collateral ization in public monies.
2L PERMISSIBLE DEPOSITS AND INVESTMENTS
It is the City's policy to follow Title 5 of the California Government Code (the "State Code") in
regard to allowable securities, and to be sufficiently diversified with regard to security type
and issuer. Permissible deposits and investments, as allowed by Chapter 4, Part 1, Division
2, Title 5 (hereinafter cited by §), include, but are not limited to, the following list. The State
Code can be directly referenced at https:Hleginfo.legislature.ca.gov/
Page 7 of 27
Checking. Savings. and Sweep Accounts - The City will only maintain checking and savings
accounts with state or national banks, savings associations, federal associations, and/or
credit unions in accordance with §53635.2.
• Collateralization: The amount of the City's deposits or investments not insured by the
FDIC shall be collateralized by securities in accordance with
§53652. The Treasurer may invest in an interest -bearing active deposit account as
approved in §53632. The deposit account must be collateralized with securities that are
in accordance with §53632.5. In addition, the market value of the collateralized
securities must be maintained in accordance with
§53652 and be held by a custodian in accordance with the requirements of
§53656. The proportion of the City's share of the deposit account shall be determined in
accordance with §53658.
Certificates of Deposit (Negotiable and Non-negotiable) — As authorized in
§53601(i), the City may invest in Non -Negotiable and Negotiable Certificates of Deposits
(CD) up to 30% of the overall portfolio. In no instance shall a CD or combined CDs with a
single issuer exceed the FDIC or NCUSIF insurance limit of
$250,000.
U.S. Treasury Bills, Notes, and Bonds — As authorized in §53601(b), the City may invest
in U.S. Treasury bills, notes, and bonds directly issued and backed by the full faith and credit
of the U.S. Government. The City's Investment Policy provides for investments in U.S.
Treasury issues of 100% of the portfolio.
U.S. Government Agency Securities and Federal Government Securities — As
authorized in §53601(f), the City may invest in securities issued by U.S. Government
instrumentalities and agencies (commonly referred to as government sponsored enterprises
or LSE's). These securities may not be backed by the full faith and credit of the U.S.
Government (with the exception of Government National Mortgage Association (GNMA)
securities). Examples of LSE's include Federal National Mortgage Association (FNMA),
Federal Home Loan Mortgage Corporation (FHLMC), Federal Home Loan Bank (FHLB),
Federal Farm Credit Banks Funding Corporation (FFCB), Federal Agricultural Mortgage
Corporation (FAMC), Tennessee Valley Authority (TVA), and GNMA securities.
The City's Investment Policy allows investment only in securities of GNMA, FNMA, FHLMC,
FHLB, and FFCB. For Fiscal Year 2022-23 2024/25, the maximum face amount per issuer
is $20 30 million and the maximum face amount per purchase is $10 million.
Prime Commercial Paper — As authorized in §53601(h), a portion of the City's portfolio may
be invested in commercial paper of the highest rating as provided for by a nationally
recognized statistical rating organization (NRSRO) such as Moody's, Fitch, or Standard &
Poor's (S&P). There are a number of other qualifications regarding investments in
commercial paper based on the financial strength and size of the corporation and the size of
the investment. The City limits on prime commercial paper are as defined in the State Code.
Page 8 of 27
Local Agency Investment Fund (LAIF) —As authorized in §16429.1 and by LAIF policies,
local government agencies are each authorized to invest up to the deposit limit as
designated by the California State Treasurer. The City Treasurer may not invest more than
the maximum amount per account as allowed byLAIF.
Money Market Mutual Funds — As authorized in §53601(1), local agencies are authorized to
invest in shares of beneficial interest issued by diversified management companies (mutual
funds) in an amount not to exceed 20% of the agency's portfolio. There are a number of
other qualifications and restrictions regarding allowable investments in corporate notes and
shares of beneficial interest issued by mutual funds which include (1) attaining the highest
ranking or the highest letter and numerical rating provided by not less than two of thethree
largest nationally recognized rating services, or (2) having an investment advisor registered
with the Securities and Exchange Commission with not less than five years' experience
investing in the securities and obligations and with assets under management in excess of
five hundred million dollars ($500,000,000).
Corporate Notes — As authorized in §53601(k), local agencies may invest in corporate
notes. The notes must be issued by corporations organized and operating in the United
States or by depository institutions licensed by the United States or any other state and
operating in the United States. The City's Investment Policy allows investment in corporate
notes authorized by the Government Code with the following limitations:
• Maximum 30% of the portfolio;
• Maturities shall not exceed five years from date of purchase;
• Eligible notes shall be regularly quoted and traded in the marketplace;
• Eligible notes shall be in a rating category of "AX or better by an NRSRO;
• The maximum aggregate investment in each issuer shall not exceed $5 million (PAR
value), or no more than 10% of the total investment assets in the commercial paper and
the medium -term notes of any single issuer.
Professionally Managed Account(s) — The City Treasurer may place up to 50% of the
portfolio with a professional portfolio management/investment management firm (firm). The
firm will be approved by the City Council based upon the City Treasurer's recommendation
pursuant to completion of a public request for proposal (RFP). The firm shall have:
• An established professional reputation for asset or investment management;
• Knowledge and working familiarity with State and Federal laws governing and restricting
the investment of public funds;
• Substantial experience providing investment management services to local public
agencies whose investment policies and portfolio size are similar to those of the City;
• Professional liability (errors and omissions) insurance and fidelity bonding in such
amounts as are required by the City; and
Page 9 of 27
• Registration with the Securities and Exchange Commission under the
Investment Advisers Act of 1940
Before engagement by the City and except as may be specifically waived or revised, the firm
shall commit to adhere to the provisions of the City's Investment Policy with the following
exceptions:
• The firm may be granted the discretion to purchase and sell investment securities in
accordance with this Investment Policy;
• The firm is not required to adhere to a buy -and -hold policy; and
• The firm does not need City Manager or City Treasurer approval to make permissible
investments.
Local Agency Bonds and California Local Agency Obligations — As authorized in
§53601(a) and §53601(e), the City may invest in California local agency obligations.
§53601(a) pertains to investing in bonds issued by a local agency, or by the department,
board, agency or authority of the local agency.
§53601(e) pertains to investing in bonds and other defined indebtedness of any local
agency, or department, board, agency or authority of the local agency within the State of
California. The Agency obligations must be invested in the long-term rating category of A or
better by an NRSRO.
In the case of an initial public offering, including refinancings, the Treasurer may purchase
directly from the Bond Underwriter. In the case of secondary issues, the Treasurer will rely on
the approved Broker/Dealers.
L-4411►11*1dIVi1=1►ki1O107I.I
There are three (3) types of investment pools:
• State -run pools (e.g., LAIF);
• Pools that are operated by a political subdivision where allowed by law and the political
subdivision is the trustee (e.g., County Pools, and Joint Powers Authorities such as the
California Asset Management Program (CAMP)); and
• Pools that are operated for profit by third parties (e.g. money market funds).
The City's Investment Policy permits investment in pools and money market funds as authorized
by State Code §16429.1, §53601(1) and §53601(p).
The City shall engage qualified third -party custodians to act in a fiduciary capacity to maintain
appropriate evidence of the City's ownership of securities and other eligible investments. Such
custodians shall disburse funds received from the City for a purchase to the broker, dealer or
seller only after receiving evidence that the City has legal, record ownership of the securities.
Page 10 of 27
Even though ownership is evidenced in book -entry form rather than by actual certificates, this
procedure is commonly referred to as the delivery versus payment (DVP) method for the
transfer of securities.
XIII. INTEREST EARNING DISTRIBUTION POLICY
Interest earnings are generated from pooled investments and specific investments. The
following provisions apply to the calculation and distribution of interest earnings.
1. Pooled Investments — It is the general policy of the City to pool all available operating
cash of the City of La Quinta, Successor Agency to the City of La Quinta Redevelopment
Agency, La Quinta Financing Authority, and La Quinta Housing Authority, and to allocate
interest earnings as a payment to each fund of an amount based on the month -end cash
balance included in the common portfolio for the earning period.
2. Specific Investments — Specific investments purchased by a fund shall incur all
earnings and expenses to that particular fund.
XIV. INTERNAL CONTROLS AND INDEPENDENT AUDITOR
The City Treasurer shall establish a system of internal controls to accomplish the following
objectives:
• Safeguard assets;
• The orderly and efficient conduct of its business, including adherence to management
policies;
• Prevention or detection of errors and fraud;
• The accuracy and completeness of accounting records; and
• Timely preparation of reliable financial information.
While no internal control system, however elaborate, can guarantee absolute assurance that the
City's assets are safeguarded, it is the intent of the City's internal control to provide a reasonable
assurance that management of the investment function meets the City's objectives.
The internal controls shall address the following:
• Control of collusion. Collusion is a situation where two or more employees are working in
conjunction to defraud their employer.
• Separation of transaction authority from accounting and record keeping. By separating
the person who authorizes or performs the transaction from the people who record or
otherwise account for the transaction, a separation of duties is achieved.
• Custodial safekeeping. Securities purchased from any bank or dealer including
appropriate collateral (as defined by State Law) shall be placed with an independent
third party for custodial safekeeping.
• Avoidance of physical delivery securities. Book entry securities are much easier to transfer
and account for since actual delivery of a document never takes
Page 11 of 27
place. Delivered securities must be properly safeguarded against loss or destruction.
The potential for fraud and loss increases with physically delivered securities.
• Clear delegation of authority to subordinate staff members. Subordinate staff members
must have a clear understanding of their authority and responsibilities to avoid improper
actions. Clear delegation of authority also preserves the internal control structure that is
contingent on the various staff positions and their respective responsibilities as outlined
in the Segregation of Major Investment Responsibilities (Appendix C).
• Written confirmation of telephone transactions for investments and wire transfers. Due to
the potential for error and improprieties arising from telephone transactions, all telephone
transactions shall be supported by written communications or electronic confirmations
and approved by the appropriate person. Written communications may be via fax or
email if on letterhead and the safekeeping institution has a list of authorized signatures.
Fax correspondence must be supported by evidence of verbal or written follow- up.
• Development of a wire transfer agreement with the City's bank and third -party custodian.
This agreement should outline the various controls, security provisions, and delineate
responsibilities of each party making and receiving wire transfers.
The system of internal controls developed by the City shall be reviewed annually by the
independent auditor in connection with the annual audit of the City's Financial Statements. The
independent auditor's letter on internal control over financial reporting and compliance as it
pertains to cash and investments, if any, shall be directed to the City Manager who will direct
the City Treasurer to provide a written response to the independent auditor's letter. The auditor's
letter, as it pertains to cash and investment activities, and the City Treasurer's response shall be
provided to the City's Financial Advisory Commission for their consideration. Following the
completion of each annual audit, the independent auditor shall meet with the Financial Advisory
Commission and discuss the auditing procedures performed and the review of internal controls
for cash and investment activities. See Appendix C, "Segregation of Major Investment
Responsibilities."
A 9 1 [ 1
The City Treasurer shall submit a quarterly Treasurer's Report to the City Council and the
Financial Advisory Commission that includes all cash and investments under the authority of the
Treasurer. In addition, the City Treasurer or designee shall ensure all investment transactions
are reported on a monthly basis as they occur throughout the quarter. The Treasurer's Report
shall summarize cash and investment activity and changes in balances and include the
following:
• A certification by the City Treasurer;
• A listing of purchases and sales/maturities of investments;
Page 12 of 27
• Cash and Investments categorized by authorized investments; LAIF will also be provided
quarterly and show yield and maturity;
• Comparison of month -end actual holdings to Investment Policy limitations;
• A two-year list of historical interest rates.
The securities held by the City must be in compliance with this Policy at the time of purchase.
Due to market conditions, some securities may no longer comply subsequent to the date of
purchase, therefore a quarterly review of the portfolio will be conducted to identify any securities
which may have fallen out of compliance. Any major incidences of noncompliance identified
during such review will be reported to the Financial Advisory Commission for confirmation of
staff course of action.
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The Financial Advisory Commission (FAC) is composed of seven members from the public that
are appointed by the City Council. The FAC's membership, qualifications, and powers and duties
are prescribed in Chapter 2.70 of the La Quinta Municipal Code and included in this policy as
Appendix A.
On an annual basis, in conjunction with the Political Reform Act disclosure statutes, or at any
time if a change in circumstances warrants, each commissioner will provide the City Council with
a disclosure statement which identifies any matters that have a bearing on the appropriateness
of that member's service on the FAC. All commissioners shall report annually to the City Clerk
on Form 700, Statement of Economic Interests, any activities, interests, or relationships that
may be, or have the appearance of, a conflict of interest.
XV111, INVESTMENT POLICY ADOPTION
The City's Investment Policy will be reviewed annually by the City's Financial Advisory
Commission and the City Treasurer. The Financial Advisory Commission will forward the
Investment Policy with any revisions to the City Manager and City Attorney for their review and
comment. A joint meeting will be held with the Financial Advisory Commission, City Manager,
City Attorney, and City Treasurer to review the Investment Policy and any comments prior to
submission to the City Council for their consideration. The Investment Policy shall be adopted by
resolution of the City Council annually before the end of June of each year.
Page 13 of 27
APPENDIX A
City of La Quinta Municipal Code Chapter 2.70
FINANCIAL ADVISORY COMMISSION
2.70.010 General rules regarding the financial advisory commission. Except
as set out below, see Chapter 2.06 for general provisions.
2.70.020 Number of members.
The financial advisory commission ("FAC") shall initially consist of seven members appointed
by, and serving at the will of, the city council. The city council may increase or decrease the
number of members from time to time but in no event shall the membership exceed nine
members or be less than five members.
2.70.30 Qualifications of members.
A. In addition to the qualification requirements set forth in Section 2.06.040 of this code,
a minimum of three of the members shall be finance professionals and shall have a
verifiable background in finance and/or securities, preferably with knowledge and/or
experience in markets, financial controls and accounting for securities.
B. For those applying for the professional position, background information will be
requested, and potential candidates must agree to a background check and verification
by the city manager or designee.
2.70.040 Powers and duties.
A. The principal functions of the FAC are:
1. Review at least annually the city's investment policy and recommend
appropriate changes;
2. Review at least quarterly the treasury report and note compliance with the
investment policy and adequacy of cash and investments for anticipated
obligations;
3. Receive and consider other reports provided by the city treasurer;
4. Meet with the independent auditor after completion of the annual audit of the
city's financial statements, and receive and consider the auditor's comments on
auditing procedures, internal controls, and findings for cash and investment
activities;
5. Review at least annually the revenue derived from the one percent (1 %)
transactions and use tax instituted by voters in November 2016 to ensure these
funds are used to provide services, programs and capital projects in the city of La
Quinta.
Page 14 of 27
6. Serve as a resource for the city treasurer on matters such as proposed
investments, internal controls, use of or change of financial institutions,
custodians, brokers and dealers.
B. The FAC will report to the city council after each meeting either in person or through
correspondence at a regular city council meeting. (Ord. 556 § 1, 2017)
2.70.050 References to the Investment Advisory Board.
If any other chapter(s) or section(s) in this code refers to the Investment Advisory Board, that
chapter(s) or section(s) shall be deemed to refer to the Financial Advisory Commission
established by the ordinance amending chapter 2.70 of this code.
Page 15 of 27
APPENDIX B
City of La Quinta Municipal Code Chapter 3.08
INVESTMENT OF MONEYS AND FUNDS
3.08.010 Investment of city moneys and deposit of securities.
Pursuant to, and in accordance with, and to the extent allowed by Sections 53607 and 53608 of
the California Government Code, the authority to invest and reinvest moneys of the city, to sell
or exchange securities, and to deposit them and provide for their safekeeping, is delegated to
the city treasurer, which, for purposes of this chapter, is defined in Section 2.12.010 of this code.
(Ord. 529 § 1, 2015; Ord. 2 § 1,
1982)
3.08.020 Authorized investments.
Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to
purchase, at their original sale or after they have been issued, securities which are permissible
investments under the city council adopted city investment policy and any provision of state law
relating to the investing of general city funds, including, but not limited to, Sections 53601 and
53635 of the California Government Code, as said sections now read or may hereafter be
amended, from moneys in the city treasurer's custody which are not required for the immediate
necessities of the city and as he or she may deem wise and expedient, and to sell or exchange for
other eligible securities and reinvest the proceeds of the securities so purchased. (Ord. 529
§ 1, 2015; Ord. 2 § 1, 1982)
3.08.030 Sales of Securities.
From time to time the city treasurer shall sell the securities in which city moneys have been
invested pursuant to this chapter, so that the proceeds may, as appropriate, be applied to the
purchase for which the original purchase money may have been designated or placed in the city
treasury. (Ord.2 § 1 1982)
3.08.040 City bonds.
Bonds issued by the city and purchased pursuant to this chapter may be cancelled either in
satisfaction of sinking fund obligations or otherwise if proper and appropriate; provided,
however, that the bonds may be held uncancelled and while so held may be resold. (Ord. 2 § 1
(part), 1982)
3.08.050 Reports.
The city treasurer shall make a quarterly report to the city council of all investments made
pursuant to the authority delegated in this chapter and as permitted by Section 53646(b)(1) of the
Government Code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982)
Page 16 of 27
3.08.060 Deposits of securities.
Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to
deposit for safekeeping, the securities in which city moneys have been invested pursuant to this
chapter, in any institution or depository authorized by the city council adopted investment policy
and terms of any state law, including, but not limited to, Section 53608 of the Government Code,
as it now reads or may hereafter be amended. In accordance with said section, the city treasurer
shall take from the institution or depository a receipt for the securities so deposited and shall not
be responsible for the securities delivered to and receipted for by the institution or depository
until they are withdrawn therefrom by the city treasurer. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982)
3.08.070 Trust fund administration.
Any departmental trust fund established by the city council pursuant to Section 36523 of the
Government Code shall be administered by the city treasurer in accordance with Section 36523
and 36524 of the Government Code and any other applicable provisions of law. (Ord. 2 § 1,
1982)
Page 17 of 27
APPENDIX C
SEGREGATION OF MAJOR INVESTMENT RESPONSIBILITIES
Function
Responsible Parties
Develop and recommend modifications to the City's City Treasurer, Principal Management Analyst, and
formal Investment Policy Financial Advisory Commission
Review City's Investment Policy and recommend
City Council action
Adopt formal Investment Policy
Implement formal Investment Policy
Review financial institutions and select investments
Acknowledge investment selections
Execute investment transactions
Confirm wires
City Manager and City Attorney
City Council
City Treasurer
City Treasurer or Principal Management -Analyst
City Manager or his/her designee
City Manager, City Treasurer, or Principal
Management Analyst
Finance
Aeee --At i gManager, Senior Accountant, or
Administrative Technician
Record investment transactions in City's accounting Finance
records Aeeaunt+ng Manager or Senior Accountant
Investment cerification- match broker confirmation
to City's investment records City Treasurer or Principal Management Analyst
Reconcile investment records to accounting records
and bank statements Principal Management Analyst
Finance
Reconcile investment records to treasurer's report City Treasurer, ; Manager, or Principal
of investments Management Analyst
Finance
Security of investments at City Manager or Administrative Technician
Security of investments outside of City Third Party Custodian
Review internal control procedures External Auditor
Page 18 of 27
APPENDIX D
Listing of Approved Financial Institutions
Banking Services
Custodian Services
Deferred Compensation
Broker/Dealer Services
Government/Joint Powers Authority Pools
Trustee Services
Other Post Employment Benefits (OPEB) Trust
Pension Trust - Administration
-Bank of the West, San Francisco, CA (Banking Services)
-Sunwest Bank, Irvine, CA (Banking Services - Dune Palms
Mobile Estates)
-BMO Commercial Bank
-The Bank of New York Mellon/Pershing LLC U.S. Bank Trust Company, N.A.
-Stifel
-International City/County Management Association Retirement
Corporation (ICMA-RC) dba MissionSquare Retirement
-Stifel, Nicholaus, & Company, Inc.
-Higgins Capital Management, Inc.
-Great Pacific Securities
-State of California Local Agency Investment Fund (LAIF)
-California Asset Management Program (CAMP)
-County of Riverside Pooled Investment Fund)
-U.S. Bank Trust Company, NA(2)
-California Employers' Retirement Benefits Trust
(CERBT)/CalPERS
-Public Agency Retirement Services (PARS)
(')The County of Riverside Treasurer maintains one Pooled Investment Fund for all local jurisdictions having funds on
deposit in the County Treasury. The City's fire funds, which are property taxes collected to fund fire services in the City, are
kept in reserve with the County to be used as expenses are incurred.
(2) U.S. Bank is the fiscal agent for all of the following bonds: 2013 (refunded in 2021), 2014 (refunded in 2021), 2016, and
2021 Successor Agency to the La Quinta Redevelopment Agency (RDA) Bonds. As of March 2024, U.S. Bank is the
custodian for the City's investment portfolio. U.S. Bank is also the trustee and asset custodian for the PARS pension trust. As
of January 29, 2022, U.S. Bank, National Association transitioned its Global Corporate Trust business to wholly owned
subsidiary U.S. Bank Trust Company, National Association.
Page 19 of 27
APPENDIX E
INVESTMENT MANAGEMENT PROCESS AND RISK
Except as provided for in Section 27000.3, Government Code Section 53600.3 declares as a
trustee each person, treasurer, or governing body authorized to make investment decisions on
behalf of local agencies. Trustees are subject to the prudent investor standard. These persons
shall act with care, skill, prudence, and diligence under the circumstances then prevailing when
investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing funds. Section
53600.5 further stipulates that the primary objective of any person investing public funds is to
safeguard principal; secondly, to meet liquidity needs of the depositor; and lastly, to achieve a
return or yield on invested funds (Government Code Section 27000.5 specifies the same
objectives for county treasurers and board of supervisors).
Risk is inherent throughout the investment process. There is investment risk associated with
any investment activity and opportunity risk related to inactivity. Market risk is derived from
exposure to overall changes in the general level of interest rates while credit risk is the risk of loss
due to the failure of the insurer of a security. The market value of a security varies inversely with
the level of interest rates. If an investor is required to sell an investment with a five percent yield
in a comparable seven percent rate environment, that security will be sold at a loss. The
magnitude of that loss will depend on the amount of time until maturity.
Purchasing certain allowable securities with a maturity of greater than five years requires
approval of the governing board (see Government Code Section 53601). Part of that approval
process involves assessing and disclosing the risk and possible volatility of longer -term
investments
Another element of risk is liquidity risk. Instruments with call features or special structures, or
those issued by little known companies, are examples of "story bonds" and are often thinly
traded. Their uniqueness often makes finding prospective buyers in a secondary market more
difficult and, consequently, the securities' marketability and price are discounted. However,
under certain market conditions, gains are also possible with these types of securities.
Default risk represents the possibility that the borrower may be unable to repay the obligation as
scheduled. Generally, securities issued by the federal government and its agencies are
considered the most secure, while securities issued by private corporations or negotiable
certificates of deposit issued by commercial banks have a greater degree of risk. Securities with
additional credit enhancements, such as bankers acceptances, collateralized repurchase
agreements and collateralized bank deposits are somewhere between the two on the risk
spectrum.
The vast majority of portfolios are managed within a buy and hold policy. Investments are
purchased with the intent and capacity to hold that security until maturity. At times, market
forces or operations may dictate swapping one security for anotheror
Page 20 of 27
selling a security before maturity. Continuous analysis and fine tuning of the investment portfolio
are considered prudent investment management.
The Government Code contains specific provisions regarding the types of investments and
practices permitted after considering the broad requirement of preserving principal and
maintaining liquidity before seeking yield. These provisions are intended to promote the use of
reliable, diverse, and safe investment instruments to better ensure a prudently managed
portfolio worthy of public trust.
Source: Chapter II. Fund Management from the Local Agency Investment Guidelines Issued by
California Debt and Investment Advisory Commission
Page 21 of 27
APPENDIX F
GLOSSARY
(Adopted from the Municipal Treasurers Association)
The purpose of this glossary is to provide the reader of the City of La Quinta investment policies
with a better understanding of financial terms used in municipal investing.
AGENCIES: Federal agency securities and/or Government -sponsored enterprises.
ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR): The official annual report for the
City of La Quinta. It includes combined statements for each individual fund and account group
prepared in conformity with GAAP. It also includes supporting schedules necessary to
demonstrate compliance with finance -related legal and contractual provisions, extensive
introductory material, and a detailed Statistical Section.
ASKED: The price at which securities are offered.
BANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust
company. The accepting institution guarantees payment of the bill, as well as the issuer.
)gyp: The price offered by a buyer of securities. (When you are selling securities, you ask for a
bid.) See Offer.
BROKER: A broker brings buyers and sellers together for a commission.
CERTIFICATE OF DEPOSIT (CDC: A time deposit with a specific maturity evidenced by a
certificate. Large- denomination CD's are typically negotiable.
COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to
secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of
public monies.
COMMERCIAL PAPER: Short-term unsecured promissory notes issued by a corporation to
raise working capital. These negotiable instruments are purchased at a discount to par value or at
par value with interest bearing. Commercial paper is issued by corporations such as General
Motors Acceptance Corporation, IBM, Bank America, etc.
CONDUIT FINANCING: A form of Financing in which a government or a government agency
lends its name to a bond issue, although it is acting only as a conduit between a specific project
and bond holders. The bond holders can look only to the revenues from the project being
financed for repayment and not to the government or agency whose name appears on the bond.
COUPON: (a) The annual rate of interest that a bond's issuer promises to pay the bondholder
on the bond's face value. (b) A certificate attached to a bond evidencing interest due on a
payment date.
DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and
selling for his own account.
DEBENTURE: A bond secured only by the general credit of the issuer.
Page 22 of 27
DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery
versus payment and delivery versus receipt. Delivery versus payment is delivery of securities
with an exchange of money for the securities. Delivery versus receipt is delivery of securities
with an exchange of a signed receipt for the securities.
DERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the
movement of one or more underlying index or security, and may include a leveraging factor, or
(2) financial contracts based upon notional amounts whose value is derived from an underlying
index or security (interest rates, foreign exchange rates, equities or commodities).
DISCOUNT: The difference between the cost price of a security and its maturity when quoted at
lower than face value. A security selling below original offering price shortly after sale also is
considered to be at a discount.
DISCOUNT SECURITIES: Non -interest -bearing money market instruments that are issued at
discount and redeemed at maturity for full face value
DIVERSIFICATION: Dividing investment funds among a variety of securities offering
independent returns.
GOVERNMENT SPONSORED ENTERPRISES (GSEs): Privately held corporations with public
purposes created by the U.S. Congress to reduce the cost of capital for certain borrowing
sectors of the economy. Securities issues by GSEs carry the implicit backing of the U.S.
Government, but they are not direct obligations of the U.S. Government. Typically referred to as
'Agency Bonds' or 'Agencies'.
FNMAs or Fannie Mae (Federal National Mortgage Association) - Like GNMA was chartered
under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation
working under the auspices of the Department of Housing and Urban Development (HUD). It is
the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the
corporation is called, is a private stockholder -owned corporation. The corporation's purchases
include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages.
FNMA's securities are also highly liquid and are widely accepted. FNMA assumes and
guarantees that all security holders will receive timely payment of principal and interest.
FHLBs (Federal Home Loan Bank) - Issued by the Federal Home Loan Bank System to help
finance the housing industry. The notes and bonds provide liquidity and home mortgage credit
to savings and loan associations, mutual savings banks, cooperative banks, insurance
companies, and mortgage -lending institutions. They are issued irregularly for various maturities.
The minimum denomination is $5,000. The notes are issued with maturities of less than one
year and interest is paid at maturity.
FFCBs (Federal Farm Credit Bank) — Debt instruments used to finance the short and
intermediate term needs of farmers and the national agricultural industry. They are issued
monthly with three- and six-month maturities. The FFCB issues larger issues (one to ten year) on
a periodic basis. These issues are highly liquid.
Page 23 of 27
FHLMCs or Freddie Mac (Federal Home Loan Mortgage Corporation) - a government
sponsored entity established in 1970 to provide a secondary market for conventional home
mortgages. Mortgages are purchased solely from the Federal Home Loan Bank System
member lending institutions whose deposits are insured by agencies of the United States
Government. They are issued for various maturities and in minimum denominations of $10,000.
Principal and interest is paid monthly.
FAMCs or Farmer Mac (Federal Agricultural Mortgage Corporation) - FAMC increases the
availability and affordability of credit for the benefit of American agriculture and rural
communities. They are the nation's premier secondary market for agricultural credit, providing
financial solutions to a broad spectrum of the agricultural community, including agricultural
lenders, agribusinesses, and other institutions that can benefit from access to flexible, low-cost
financing and risk management tools. FAMC is regulated by the Farm Credit Administration.
Other federal agency issues are Small Business Administration notes (SBA's), Government
National Mortgage Association notes (GNMA's), and Tennessee Valley Authority notes (TVA's).
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that
insures bank deposits, currently up to $250,000 per deposit per entity.
FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is
currently pegged by the Federal Reserve through open- market operations.
FEDERAL OPEN MARKET COMMITTEE (FOMQ: Consists of seven members of the Federal
Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the
New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a
rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding
purchases and sales of Government Securities in the open market as a means of influencing
the volume of bank credit and money.
FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and
consisting of a seven -member Board of Governors in Washington, D.C., 12 regional banks and
about 3,000 commercial banks that are members of the system.
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae):
Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage
bankers, commercial banks, savings and loan associations, and other institutions. Security
holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are
backed by the FHA, VA or FMHM mortgages. The term "pass-throughs" is often used to
describe Ginnie Maes.
LAIF (Local Agency Investment Fund: - A special fund in the State Treasury which local
agencies may use to deposit funds for investment. There is no minimum investment period, the
minimum transaction is $5,000 and the City follows the state guidance for maximum total
balance. The City is restricted to a maximum of ten transactions per month. It offers high liquidity
because deposits can be converted to cash in 24 hours and no interest is lost. All interest is
distributed to those agencies participating on a proportionate share basis determined by the
amounts deposited and the length of time
Page 24 of 27
they are deposited. Interest is paid quarterly. The State retains an amount for reasonable costs of
making the investments, not to exceed one-half of one percent of the earnings.
LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a
substantial loss of value. In the money market, a security is said to be liquid if the spread
between bid and asked prices is narrow and reasonable size can be done at those quotes.
LOCAL GOVERNMENT INVESTMENT POOL (LGIP): The aggregate of all funds from political
subdivisions that are placed in the custody of the State Treasurer for investment and
reinvestment
MARKET VALUE: The price at which a security is trading and could presumably be purchased
or sold.
MASTER REPURCHASE AGREEMENT: A written contract covering all future transactions
between the parties to repurchase -reverse repurchase agreements that establish each party's
rights in the transactions. A master agreement will often specify, among other things, the right of
the buyer- lender to liquidate the underlying securities in the event of default by the seller -
borrower.
MATURITY: The date upon which the principal or stated value of an investment becomes due and
payable.
MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper,
bankers' acceptances, etc.) are issued and traded.
NRSRO (NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATIONu: A
credit rating agency recognized by the Securities and Exchange Commission (SEC). Examples
include Fitch Ratings, Inc., Moody's Investor's Services, Inc., and S&P Global Ratings, among
others.
FFER: The price asked by a seller of securities. (When you are buying securities, you ask for
an offer.) See Asked and Bid.
OPEN MARKET OPERATIONS: Purchases and sales of government and certain other
securities in the open market by the New York Federal Reserve Bank as directed by the FOMC
in order to influence the volume of money and credit in the economy. Purchases inject reserves
into the bank system and stimulate growth of money and credit; sales have the opposite effect.
Open market operations are the Federal Reserve's most important and most flexible monetary
policy tool.
PORTFOLIO: Collection of all cash and securities under the direction of the City Treasurer,
including Bond Proceeds.
PRIMARY DEALER: A group of government securities dealers who submit daily reports of
market activity and positions and monthly financial statements to the Federal Reserve Bank of
New York and are subject to its informal oversight. Primary dealers include Securities and
Exchange Commission (SEC) registered securities broker -dealers, banks and a few
unregulated firms.
Page 25 of 27
QUALIFIED PUBLIC DEPOSITORIES: A financial institution which does not claim exemption
from the payment of any sales or compensating use or ad valorem taxes under the laws of this
state, which has segregated for the benefit of the commission eligible collateral having a value
of not less than its maximum liability and which has been approved by the Public Deposit
Protection Commission to hold public deposits.
RATE OF RETURN: The yield obtainable on a security based on its purchase price or its
current market price. This may be the amortized yield to maturity on a bond the current income
return.
REPURCHASE AGREEMENT (RP OR REPO) and REVERSE REPURCHASE
AGREEMENTS (RRP or RevRelo): A holder of securities sells these securities to an investor
with an agreement to repurchase them at a fixed price on a fixed date. The security "buyer" in
effect lends the "seller" money for the period of the agreement, and the terms of the agreement
are structured to compensate him for this. Dealers use RP extensively to finance their positions.
Exception: When the Fed is said to be doing RP, it is lending money that is increasing bank
reserves.
SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and
valuables of all types and descriptions are held in the bank's vaults for protection.
SECONDARY MARKET: A market made for the purchase and sale of outstanding issues
following the initial distribution.
SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors
in securities transactions by administering securities legislation.
SEC RULE 15C3-1: See Uniform Net Capital Rule.
SSAE 16: The Statement on Standards for Attestation Engagements No. 16 (SSAE 16) is a set
of auditing standards and guidance on using the standards, published by the Auditing Standards
Board (ASB) of the American Institute of Certified Public Accountants (AICPA) for redefining and
updating how service companies report on compliance controls. The Service Organizational
Control report (SOC-1) contains internal controls over financial reporting and is used by auditors
and office controllers.
STRUCTURED NOTES: Notes issued by Government Sponsored Enterprises (FHLB, FNMA,
SLMA, etc.) and Corporations which have imbedded options (e.g., call features, step-up
coupons, floating rate coupons, and derivative -based returns) into their debt structure. Their
market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded
options and shifts in the shape of the yield curve.
SURPLUS FUNDS: Section 53601 of the California Government Code defines surplus funds as
any money not required for immediate necessities of the local agency. The City has defined
immediate necessities to be payment due within one week.
TREASURY BILLS: A non -interest- bearing discount security issued by the U.S. Treasury to
finance the national debt. Most bills are issued to mature in three months, six months or one
year.
Page 26 of 27
TREASURY BONDS: Long-term coupon -bearing U.S. Treasury securities issued as direct
obligations of the U.S. Government and having initial maturities of more than 10years.
TREASURY NOTES: Medium -term coupon -bearing U.S. Treasury securities issued as direct
obligations of the U.S. Government and having initial maturities from two to 10 years.
UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that
member firms as well as nonmember broker -dealers in securities maintain a maximum ratio of
indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio.
Indebtedness covers all money owed to a firm, including margin loans and commitments to
purchase securities, one reason new public issues are spread among members of underwriting
syndicates. Liquid capital includes cash and assets easily converted into cash.
UNIFORM PRUDENT INVESTOR ACT: The State of California has adopted this Act. The Act
contains the following sections: duty of care, diversification, review of assets, costs, compliance
determinations, delegation of investments, terms of prudent investor rule, and application.
YIELD: The rate of annual return on an investment, expressed as a percentage. (a) INCOME
YIELD is obtained by dividing the current dollar income by the current market price for the
security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any
premium above par or plus any discount from par in purchase price, with the adjustment spread
over the period from the date of purchase to the date of maturity of the bond.
Page 27 of 27
City of La Quinta
STUDY SESSION ITEM NO. 2
FINANCIAL ADVISORY COMMISSION MEETING May 8, 2024
STAFF REPORT
AGENDA TITLE: DISCUSS THE FISCAL YEAR 2024/25 PRELIMINARY PROPOSED
BUDGET
RECOMMENDATION
Discuss the fiscal year 2024/25 preliminary proposed budget.
EXECUTIVE SUMMARY
• This first budget study session focuses on the General Fund and Internal Service
Funds. This information will be presented to the City Council on May 21, 2024.
• A second budget study session will be presented to the City Council on June 4,
2024 will cover Special Revenue Funds, Capital Funds, and Enterprise Funds of the
City.
• A second budget study session will be presented to the Financial Advisory
Commission (FAC) on June 5, 2024, and will include all funds of the City.
• All departments evaluated budget needs based on the City's priorities and
operational needs when preparing their 2024/25 budgets.
• Final budget adoption is scheduled for June 18, 2024.
FISCAL IMPACT
The preliminary General Fund budget projects a deficit of $538,365 with projected General
Fund revenues of $80,714,300 (including Measure G sales tax) and proposed operational
and capital expenditures of $81,252,665, with no unappropriated Measure G sales tax
revenue assigned to reserves.
BACKGROUND/ANALYSIS
The goal of the first budget study session is to provide an overview of the General Fund
and Internal Service Funds and review the use of Measure G sales tax revenues. Each
department section contains notes to explain changes from 2022/23 actuals, changes in
2023/24, and projections for 2024/25.
The annual budget outlines the City's financial resources and plan for the City's operations
and services for the upcoming year. Community input is a crucial component to the budget
process and helps the City develop a budget that reflects the priorities and values of La
Quinta residents and businesses. The Financial Advisory Commission provides oversight of
Measure G funds and assists with reviewing the 2024/25 operating and capital
improvement budgets.
To encourage citizen participation in public meetings, the 2024/25 budget schedule is
available online at:
https://www.laguintaca.gov/our-city/city-departments/finance/budqet/proposed-budget-
2024-25-timeline
PUBLIC MEETING DATES
FISCAL YEAR 2024/25 BUDGET
Annual Community Workshop
2/22/2024
City Council Meeting
4/2/2024
Proposed Capital Improvement Program CIP Study Session
Financial Advisory Commission Meeting
4/3/2024
Proposed Capital Improvement Program CIP Study Session
Financial Advisory Commission Meeting
5/8/2024
Preliminary General Fund Revenue & Expense Projections
City Council Meeting
5/21 /2024
Budget Study Session #1 (General Fund and Internal Service
Funds focus
City Council Meeting
6/4/2024
Budget Study Session #2 (All Appropriations- General Fund,
Internal Service Funds, Enterprise, and Special Revenue Funds)
6/4/2024
Housing Authority Meeting
Budget Study Session #1 Housin-q Funds Only)
Financial Advisory Commission Meeting
6/5/2024
Final review of proposed Measure G sales tax uses
Housing Commission Meeting
6/12/2024
Final Review of proposed Housing AuthoritV Budget
City Council Meeting
6/18/2024
O eratin and CIP Budget Adoption
Housing Authority Meeting
6/18/2024
Budget Adoption
Attachment 1 provides a narrative of General Fund revenues and expenses, Internal
Service Funds, and the Redevelopment Agency loan repayment to the City. Line item
details for these revenues and expenses are located in Exhibit A of the Attachment.
ALTERNATIVES
The Commission may wish to request further information regarding specific items. Per
State code the budget must be adopted prior to June 30.
Prepared by: Claudia Martinez, Finance Director
Attachment: 1. Fiscal Year 2024/25 Proposed Budget Overview
ATTACHMENT
2024125 PROPOSED BUDGET
STUDY SESSION #1
ta Qa�fra
CALIFORNIA
The first budget study session is designed to provide an overview of the General Fund and four
Internal Service Funds (ISF's). Special Revenue, Capital, and Enterprise Funds will be
presented on June 4, 2024. Exhibit A includes proposed revenue and expenditure details for all
General Fund and Internal Service Funds.
While there is continued uncertainty ahead, the FY 2024/25 Proposed Budget offers the Council,
City Staff and the community a sense of optimism as we look forward to 2025. This budget
invests in community priorities and continues robust City services that the community expects
through balanced conservative fiscal strategies. This budget makes solid progress towards
major capital improvement projects and utilizes reserve funds to continue making significant
investments in road improvements, landscape and median improvements, and public amenities.
The FY 2024/25 proposed budget was developed using a moderate approach to revenue
projections, is responsive to community needs, and continues to fund and enhance services
which are most important to our residents. The City will continue to focus on infrastructure
investments and community priorities, while monitoring the state of the economy in order to shift
resources if necessary.
The proposed General Fund budget has a projected deficit of $538,365 as a result of
conservative increases to revenue estimates along with expenditure projections that meet
departmental needs for daily operations.
Revenues * $
Less Operating/CIP Expenses
Preliminary Budget Surplus
Less Measure G Reserves
80,714,300
81,252,665
(538,365)
The budget provides resources for public safety, daily operations, and capital improvements for
the upcoming fiscal year. Projections are anticipated to change prior to budget adoption. The
final proposed budget will be structurally balanced.
REVENUES
The City's revenue estimates for FY 2024/25 represent a $2,236,200 increase over the revised
FY 2023/24 projections, revenues by category are summarized below:
General Fund Revenues
Taxes
License & Permits
Intergovernmental
Charges for Services
Fines & Assessment
Other/Misc.
Total Revenues
2023/24
2023/24
2024/25
Original
Current &
Proposed
62,630,000
62,630,000
63,270,000
2,521,300
2,521,300
2,386,500
9,178,000
9,178,000
11,253,000
963,200
963,200
1,028,700
465,500
465,500
341,000
2,720,100
2,720,100
2,435,100
78.478.100
78.478.100
80.714.300
Change
Current v.
Proposed
640,000
(134,800)
2,075,000
65,500
(124,500)
(285,000)
2.236.200
The FY 2024/25 projected revenue outlook for the City is conservative, but takes into account
how the economy has impacted the original estimates when the FY 2023/24 budget was adopted
in June 2023. Responsible financial management and strong sales tax growth have put the City
in a positive financial position, as this growth is needed to cover the increasing cost of existing
service delivery.
Major general revenues, such as property taxes, sales taxes, franchise fees, and transient
occupancy taxes are projected by the Finance Department based on prior history, growth and
inflation projections, and economic climate. Subject -matter experts such as the City's sales tax
consultant, the County Assessor, and regional and local economic forecasts also assist in the
projection of revenues.
Taxes - The City's top three revenue sources for the General Fund total $54,590,000 (or 68% of
the total $80,714,300) and continue to be:
• Sales Taxes $27,500,000
• Transient Occupancy Taxes (TOT) $15,340,000
• Property Taxes $11,750,000
Sales tax revenue is highly sensitive to economic conditions, and reflects the factors that drive
taxable sales, including levels of unemployment, consumer confidence, per -capita income, and
business investment. Based on the current fiscal year budget, sales tax is anticipated to
decrease by $700,000 and Measure G by $200,000.
Property Tax revenues are based on a 1.0% levy on the assessed value of all real property.
Under the terms of Proposition 13, approved in California in 1978, annual increases in the
assessed value are capped at a maximum of 2% per year unless there is a change in ownership
or new construction. Annual increases in assessed value are limited by either the California
Consumer Price Index (CPI) or the 2% cap, whichever is less. Increased home values and sales
have driven assessed valuations higher than the 2% cap.
The City of La Quinta imposes a Transient Occupancy Tax (TOT) upon all hotel stays within
the City boundaries at a rate of 11 % and short-term vacation rentals (STVR) at 10%. Major
economic drivers for TOT revenue include room rates, average occupancy rates, and seasonal
and non -seasonal tourism. The projected increase over the current year remains steady and is
based on current trends and an increase in room rates.
Licenses & Permits - Development -related permit fees largely account for the decrease of
$134,800 in this category when compared to the current FY 2023/24 budget. While the economy
continues to expand, we are beginning to see a slowdown in new projects due to construction
costs and uncertainty about future economic trends; therefore, a flat projection is anticipated.
Intergovernmental - The majority of the revenues in this category are derived from fire service
property taxes restricted for fire services, which accounts for an increase of $2 million compared
to last fiscal year largely due to an increase in Redevelopment Property Tax Trust Fund or
RPTTF, and overall assessed valuations of property values. The revenue is recognized as
current year collections or use of reserves; we are not anticipating using reserves based on
current estimates provided by the County, similar to the prior fiscal year.
Charges for Services - Leisure activities, wellness center memberships, and recreational sports
fees have been increased due to current fiscal year activity and anticipated growth. In addition,
services related to building and public works plan checks have been slightly decreased due to
anticipated slower growth due to costs.
Fines & Assessments - A overall decrease of $124,500 is anticipated for administrative citations
due to increased compliance and enforcement measures with the STVR program and parking
violations reflective of FY 2023/24 year-to-date activity.
Use of Money & Property/Miscellaneous — The proposed budget for investment interest earnings
recognizes the fluctuating interest rate environment generating higher expected yields, a
moderate decrease is anticipated to account for the uncertainty of rates. At the close of the
second quarter of FY 2023/24, the average portfolio rate of return was 3.35%, as compared to
1.98% the prior year.
EXPENSES
City staff and management have been prudent in their spending to ensure budgets are in line to
end the current fiscal year with savings. While there is continued uncertainty ahead, the
proposed budget reflects prudent investments in staffing and programs to reflect community
needs and support Council's priority initiatives. This ensures the continued support and stability
of our workforce, the key to delivering all of our City's programs and services, and ensuring that
they are delivered efficiently and effectively.
A summary of expenses by department is provided in the chart below, along with an explanation
of major variances specific to departments. Overall increases affecting all departments include
salary and benefits (annual step increases and CaIPERS rates), annual contract rates, utility
rates, and inflationary impacts on goods and services.
2023/24
2023/24
2024/25
Change
General Fund Expenditures
Original
Current
Proposed
Current v.
Proposed
City Council
317,900
317,900
346,400
28,500
City Manager Department
1,588,360
1,588,360
1,641,100
52,740
Marketing & Community Relations
1,814,660
1,814,660
1,932,600
117,940
City Attorney
800,000
800,000
800,000
-
City Clerk Department
1,169,670
1,169,670
1,406,570
236,900
Human Resources
651,800
701,300
745,900
44,600
Police
18,583,800
18,618,300
19,643,300
1,025,000
Fire
9,889,120
10,247,120
10,547,110
299,990
Community Services Admin.
888,160
1,038,160
716,400
(321,760)
Wellness Center Operations
837,870
837,870
683,600
(154,270)
Recreational Programs & Events
1,578,150
1,578,150
1,956,000
377,850
Code Compliance/Animal Control
1,713,340
1,713,340
1,821,340
108,000
Public SafetyAdmin
322,300
322,300
269,890
(52,410)
Parks Maintenance
4,144,950
4,219,450
4,649,300
429,850
Public Buildings
1,715,750
1,715,750
1,875,750
160,000
Public Works Administration
821,900
821,900
835,797
13,897
Public Works Dev. Services
532,900
532,900
539,383
6,483
Streets Department- Traffic
885,750
885,750
1,036,550
150,800
Engineering Services
1,007,600
1,404,100
1,234,400
(169,700)
Design & Development Admin.
811,600
811,600
826,800
15,200
Planning
707,400
707,400
856,900
149,500
Building
1,398,700
1,398,700
1,513,600
114,900
The Hub
1,341,700
1,341,700
1,499,875
158,175
Finance
1,957,270
1,957,270
2,103,500
146,230
Centralized Services
17,348,100
44,253,481
21,770,600
(22,482,881)
Total Expenditures
72,828,750
100,797,131
81,252,665
(19,544,466)
Significant department adjustments include:
Police and Fire: Police and fire contract expenses are incorporated using estimates from the
County of Riverside, final numbers will be reflective of rates once contracts are approved. These
combined budgets are a total of $30,190,410 or 37% of the proposed General Fund budget.
Recreational Programs and Events: Increase in contract services for operations of the Fritz
Burns pool and X Park due to annual salary and benefit increases.
Parks Maintenance: Increase is due to the citywide landscape maintenance contract and
utilities, ongoing maintenance costs for parks.
Centralized Services_- This department budget captures citywide expenses. Annually this
division's budget fluctuates most because it captures large one-time expenses such as pension
and OPEB (Other Post -Employment Benefits) trust contributions, building improvements, land
acquisition, and capital improvement carryovers for multi -year projects.
The FY 2024/25 annual pension liability contribution of $200,000, which is a $730,000 decrease
from the prior year and covers the Classic Tier, Tier 2 and PEPRA. In FY 2023/24, the City
approved an additional discretionary payment of $10.2 million to pay down the current balance
of the City's unfunded pension obligations, which has impacted the upcoming year's annual
payment. This action places the City in a secure financial position as we navigate through the
changing economic climate. In June, Staff will present additional options to pay down pension
obligations during the FY 2023/24 budget update report by utilizing budget surplus.
To continue the City's efforts of staff development and succession planning, managing CalPERS
rate increases, responding to labor market adjustments, and to address staffing needs, an
increase of $500,000 is recommended to execute these principles.
INTERNAL SERVICE FUNDS (ISF)
ISF are used to account for activities involved in rendering services to departments within the
City. Costs of materials and services used are accumulated in these funds and charged to user
departments based on personnel and large equipment assigned to each. The following is a
summary of expenses by ISF:
INTERNAL SERVICE FUNDS SUMMARY
Current
Proposed
Fund
FY 23/24
FY 24/25
Variance
Equipment Replacement
2,331,044
1,358,750
(972,294)
Information Technology
3,277,620
3,217,945
(59,675)
Park Equipment
3,092,200
2,000,000
(1,092,200)
Insurance Fund
1,118,000
1,058,000
(60,000)
9,818,864
7,634,695
(2,184,169)
Equipment Replacement Fund — The decrease in this fund is due to a reduction in vehicle lease
costs due to the City's vehicle purchase program and major equipment purchases in FY 2023/24
that are not anticipated in the upcoming year.
Information Technology Fund — An slight decrease in software implementation is to account for
the Public Works asset management software that was accounted for in FY 2023/24.
Park Equipment Fund — The increase of $1,092,200 is mainly attributed to one-time playground
enhancements in FY 2023/24 which included shade canopy replacements, benches, drinking
fountains, and upgraded playground and fitness equipment.
Insurance Fund — An overall decrease of $60,000 is due to the estimated insurance premiums
provided by California Joint Powers Authority (CJPIA), final projections will be provided at budget
adoption.
MEASURE G SALES TAX
Measure G sales tax revenue is anticipated to be $15,500,000 and is allocated as presented
below in the proposed budget. The Financial Advisory Commission will be reviewing the
proposed uses of Measure G revenues at the June 5t" meeting.
Measure G Sales Tax Revenue $ 15,500,000
Police Services (7,300,000)
Capital Improvements (8,200,000)
REDEVELOPMENT LOAN REPAYMENT
The City's Last and Final Recognized Obligation Payment Schedule (ROPS) for the Successor
Agency (former Redevelopment Agency) includes an annual loan repayment. For 2024/25 the
total loan repayment is $3,505,817 which is allocated 80% to the General Fund ($2,804,654)
and 20% ($701,163) to the Housing Authority Fund. These revenues will be recognized in
unassigned reserves in each fund and are not allocated to current expenses. The final loan
repayment is scheduled for FY 2029/30. Remaining outstanding loan repayments after 2024/25
total $18,173,918.
PUBLIC PARTICIPATION
The annual budget outlines the City's financial resources and plan for the City's operations and
services for the upcoming year. Community input is a crucial component to the budget process
and helps the City develop a budget that reflects the priorities and values of La Quinta residents
and businesses.
To encourage citizen participation in public meetings, the 2024/25 budget schedule is available
on the City's website and is noted below:
https://www.laguintaca.gov/our-city/city-departments/finance/budget/proposed-budget-2024-
25-timPlinP
PUBLIC MEETING DATES
FISCAL YEAR 2024/25 BUDGET
2/22/2024
Annual Community Workshop
City Council Meeting
4/2/2024
Proposed Capital Improvement Program CIP Study Session
4/3/2024
Financial Advisory Commission Meeting
Proposed Capital Improvement Program CIP Study Session
Financial Advisory Commission Meeting
5/8/2024
Preliminary General Fund Revenue & Expense Projections
City Council Meeting
5/21/2024
Budget Study Session #1 (General Fund and Internal Service
Funds focus
City Council Meeting
6/4/2024
Budget Study Session #2 (All Appropriations- General Fund,
Internal Service Funds, Enterprise, and Special Revenue Funds)
Housing Authority Meeting
6/4/2024
Budget Study Session #1(Housing Funds Only)
6/5/2024
Financial Advisory Commission Meeting
Final review of proposed Measure G sales tax uses
Housing Commission Meeting
6/12/2024
Final Review of proposed Housing AuthoritV Budget
City Council Meeting
6/18/2024
Operating and CIP Budget Adoption
Housing Authority Meeting
6/18/2024
Budget Adoption
MEASURE G REVENUE AND USES SUMMARY
MEASURE G REVENUES AND USES SUMMARY
=fiscal Year FY)
>_016/17 Actual
$ 1462650
t017/18 Actual
9:967:657
W18/19 Actual
10,958,118
Z019/20 Actual
10,310,526
2020/21 Actual
12,594,389
>021/22 Actual
15,615,802
2022/23 Actual
16,088,087
>_023/24 Budget (Current)
15,700,000
M24/25 Budget (Proposed)
15,500,000
TOTAL $108,197,229
Year Earned
Project Description
Operational
Capital
Reserves Total by Year
2016/17
Eisenhower Dr. Retention Basin
750,000
Washington St. Connector to Art& Music Line
712,650
-
1,462,650
2017/18
Public Safety Fund
300,000
North La Quinta Landscape Improvements
1,802,576
Citywide Drainage Enhancements
2,407,373
La Quinta Village Road Diet Project
1,972,158
X-Park Funding
147,350
Alongi Building Improvements
800,000
SilverRock Event Site
321,900
SilverRock Event Site
244,700
Alongi Building at SilverRock Event Site
160,000
SilverRock Event Site
290,000
SilverRock Event Site Retention Basin
10,000
SilverRock Event Site Retention Basin
427,250
Measure G Reserves 17/18
1,084,350
9,967,657
2018119
Public Safety Fund
850,000
Public Safety Contract Services
2,100,000
Citywide Drainage Enhancements
194,730
North La Quinta Landscape Improvements
2,129,613
SilverRock Event Site
1,300,000
Measure G Reserves 18/19
4,383,775
10,958,118
2019/20
Public Safety Contract Services
2,750,000
Corporate Yard Administration/Crew Quarters
411,013
Highway 111 Corridor Improvements
1,000,000
North La Quints Landscape Improvements
3,703,369
Village Art Plaza Promenade
310,000
Measure G Reserves 19/20
2,136,144
10,310,526
2020/21
Public Safety Contract Services
4,545,000
X-Park Landscaping
275,000
Highway 111 Corridor Improvements
250,000
Measure G Reserves 2020/21
7,524,389
12,594,389
2021/22
Public Safety Contract Services
5,163,000
Landscape Renovation Improvements
1,408,356
Highway 111 Corridor Improvements
1,000,000
Fritz Bums Park Improvements
350,000
Allocate Bridge Funding
7,468,061
Measure G Reserves 2021/22
226,385
15,615,802
2022/23
Public Safety Contract Services
5,100,000
Landscape Renovation Improvements
500,000
Sports Complex Lighting
300,000
Village Underground Utilities Feasibility
100,000
ADA Transition Plan Update
150,000
Village Parking Lot
500,000
Phase II Public Safety Camera System
1,797,000
Smart Infrastructure Feasibility
250,000
Highway 111 Corridor Improvements
1,000,000
Dune Palms Bridge Advance Funding Reimbursement
(7,468,061)
Measure G Reserves 2022/23
13,859,148
16,088,087
2023/24
Public Safety Contract Services
5,100,000
Highway 111 Corridor Improvements
1,000,000
Avenue 48 Art and Music Line
2,400,000
Fritz Bums Park Improvements
1,500,000
Highway 111 Event Site
500,000
Washington St. Connector to Art& Music Line
1,200,000
Measure G Reserves 2023/24
4,000,000
15,700,000
2024/25
Public Safety Contract Services
7,300,000
Maintenance & Operations Yard
400,000
Cultural Campus
1,000,000
Highway 111 Corridor Area Plan Implementation
3,050,000
Fritz Bums Park Improvements
2,500,000
Citywide Dog Park Improvements
500,000
Welcome Center Improvements
750,000
Measure G Reserves 2024/25
-
15,500,000
$ 92,497,229
TOTAL $ 25,908,000 $ 41,775,038 $
33,214,191
26%
41%
33%
EXHIBIT A
CITY OF
LA QUINTA
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Proposed Budget
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THIS PAGE INTENTIONALLY LEFT BLANK
CITY OF LA QUINTA
FY 2024/25 PROPOSED BUDGET
The annual budget process coordinates the allocation of city revenues for essential
services such as police and fire, community programs and events, and capital improvement
projects.
The City invites you to participate and/or track public meetings regarding the fiscal year
2024/25 budget. Proposed public meeting dates are summarized below and as meetings
occur budget information presented will be available online on a dedicated City webpage
within the Finance Department at:
https://www.laquintaca.gov/our-city/city-departments/finance/budget/proposed-budget-2024-
25-timeline
Questions regarding the fiscal year 2024/25 budget may be directed to
finance@laquintaca.gov or by calling 760-777-7055.
2/22/2024
Annual Community Workshop
4/2/2024
City Council Meeting
Proposed Capital Improvement Program (CIP) Study Session
4/3/2024
Financial wavisory commission ivieeti%
Proposed Capital Improvement Program (CIP) Study Session
5/8/2024
Financial Advisory Commission ivieeimb
Preliminary General Fund Revenue & Expense Projections
City Council Meeting
5/21/2024
Budget Study Session #1 (General Fund and Internal Service Funds
focus
City Council Meeting
6/4/2024
Budget Study Session #2 (All Appropriations- General Fund, Internal
Service Funds, Enterprise, and Special Revenue Funds)
6/4/2024
Housina Authoritv Meetincf
Budget Study Session #1(Housing Funds Only)
6/5/2024
Financial Advisory Commission Meetina
Final review of proposed Measure G sales tax uses
6/12/2024
Housing Commission Meetinc
Final Review of proposed Housing Authority Budget
6/18/2024
City Council Meeting
Operating and CIP Budget Adoption
6/18/2024
Housing Authority Meeting
Budget Adoption
CITY OF LA QUINTA
FY 2024/25 PROPOSED BUDGET
ESTIMATED CURRENT RESOURCES:
REVENUES:
TAXES
$
63,270,000
LICENSES & PERMITS
2,386,500
INTERGOVERNMENTAL
11,253,000
CHARGES FOR SERVICES
1,028,700
FINES & ASSESSMENTS
341,000
OTHER/MISCELLANEOUS
2,435,100
TOTAL•
ESTIMATED CURRENT REQUIREMENTS:
EXPENDITURES:
CITY COUNCIL
$
346,400
CITY MANAGER DEPARTMENT
4,319,600
CITY MANAGER'S DIVISION
1,641,100
HUMAN RESOURCES
745,900
MARKETING/COMMUNITY RELATIONS
1,932,600
CITY ATTORNEY
800,000
CITY CLERK DEPARTMENT
1,406,570
COMMUNITY SERVICES
3,356,000
CS ADMINISTRATION
716,400
WELLNESS CENTER OPERATIONS
683,600
RECREATION PROGRAMS/SPECIAL EVENTS
1,956,000
PUBLIC SAFETY
32,281,640
POLICE
19,643,300
FIRE
10,547,110
CODE COMPLIANCE/ANIMAL CONTROL
1,821,340
PUBLIC SAFETYADMINISTRATION
269,890
PUBLIC WORKS
10,171,180
PARKS MAINTENANCE
4,649,300
PUBLIC BUILDINGS
1,875,750
PUBLIC WORKS ADMINISTRATION
835,797
DEVELOPMENT SERVICES
539,383
STREETS- TRAFFIC
1,036,550
ENGINEERING SERVICES
1,234,400
DESIGN & DEVELOPMENT
4,697,175
D&D ADMINISTRATION
826,800
PLANNING
856,900
BUILDING
1,513,600
THE HUB
1,499,875
FISCAL SERVICES
23,874,100
FINANCE
2,103,500
CENTRAL SERVICES (Includes CIP)
21,770,600
TOTAL•
PRELIMINARY BUDGET SURPLUS
$
(538,365)
LESS MEASURE G SALES TAX RESERVES
-
61
CITY OF LA QUINTA
GENERAL FUND REVENUE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed
Current 23/24
in Budget
310 - Tax Revenues
101-0000-40310
Property Tax Revenue
3,098,566
3,200,000
3,200,000
2,057,955
3,400,000
200,000
6%
101-0000-40311
No -Low City Property Ta>
5,388,267
4,985,000
4,985,000
3,110,841
5,300,000
315,000
6%
101-0000-40315
RPTTF Pass Through
2,736,932
2,860,000
2,860,000
1,651,168
3,050,000
190,000
7%
101-0000-41320
State Sales Tax
12,799,992
12,700,000
12,700,000
6,999,166
12,000,000
(700,000)
-6%
101-0000-41326
Measure G Sales Tax
16,088,087
15,700,000
15,700,000
8,954,840
15,500,000
(200,000)
-1%
101-0000-41327
Document Transfer Tax
926,743
650,000
650,000
536,885
720,000
70,000
11%
101-0000-41400
TOT - Hotels
9,772,760
8,700,000
8,700,000
6,451,893
9,370,000
670,000
8%
101-0000-41401
TOT - Short Term Vac. Ri
6,415,354
5,800,000
5,800,000
3,525,574
5,500,000
(300,000)
-5%
101-0000-41402
TOT - Bed and Breakfast
103,272
90,000
90,000
60,884
100,000
10,000
11%
101-0000-41416
TOT - Resort Fees
396,342
375,000
375,000
274,671
370,000
(5,000)
-1%
101-0000-41505
Franchise Taxes - Burrtec
1,188,773
1,050,000
1,050,000
813,314
1,130,000
80,000
8%
101-0000-41508
Southern California Gas F
246,641
200,000
200,000
0
190,000
(10,000)
-5%
101-0000-41509
Cable Television Franchis
677,929
675,000
675,000
312,523
620,000
(55,000)
-8%
101-0000-41510
Communications Franchi<
195,772
200,000
200,000
85,216
170,000
(30,000)
-15%
101-0000-41800
Property Tax in Lieu of VI
5,110,569
5,445,000
5,445,000
2,815,553
5,850,000
405,000
7%
310 - Tax Revenues Totals:
65,145,998
62,630,000
62,630,000
37,650,481
63,270,000
640,000
10/0
320 - Licenses &
Permits
101-0000-41411
STVR Inspection Fee
2,275
2,000
2,000
1,300
2,000
0
0%
101-0000-41415
STVR Registration Fee
962,500
940,000
940,000
781,000
900,000
(40,000)
-4%
101-0000-41600
Business Licenses
431,498
350,000
350,000
271,599
355,000
5,000
1%
101-0000-41602
STVR Business Licenses
51,582
60,000
60,000
44,170
60,000
0
0%
101-0000-41610
Film Permits
1,091
1,500
1,500
1,175
1,500
0
0%
101-0000-42400
Building Permits
1,009,315
315,000
315,000
374,391
335,000
20,000
6%
101-0000-42401
Plumbing Permits
175,858
72,000
72,000
42,452
50,000
(22,000)
-31%
101-0000-42402
Mechanical Permits
175,576
81,000
81,000
55,897
65,000
(16,000)
-20%
101-0000-42403
Electrical Permits
154,126
61,000
61,000
46,336
50,000
(11,000)
-18%
101-0000-42404
Miscellaneous Permits
340,078
170,000
170,000
167,169
160,000
(10,000)
-6%
101-0000-42405
Garage Sale Permits
4,540
5,000
5,000
4,410
5,000
0
0%
101-0000-42408
Grading Permits
58,539
20,000
20,000
6,440
10,000
(10,000)
-50%
101-0000-42420
Fire Plan Review Fee
69,618
65,000
65,000
97,341
85,000
20,000
31%
101-0000-42421
Fire Inspection Fee
142,218
100,000
100,000
49,301
100,000
0
0%
101-0000-42430
Transportation Permits
578
2,000
2,000
976
1,000
(1,000)
-50%
101-0000-42431
Conditional Use Permits
63,591
21,000
21,000
12,769
10,000
(11,000)
-52%
101-0000-42433
Minor Use Permit
2,668
3,000
3,000
0
1,000
(2,000)
-67%
101-0000-42434
Sign Permit
26,076
17,000
17,000
11,792
12,000
(5,000)
-29%
101-0000-42435
Site Development Permit
76,941
55,000
55,000
51,158
55,000
0
0%
101-0000-42436
Final Landscaping Plans
17,296
10,000
10,000
11,270
10,000
0
0%
101-0000-42437
Development Agreement
3,446
6,800
6,800
8,225
6,000
(800)
-12%
101-0000-42439
Temporary Use Permit
1,656
3,000
3,000
6,580
3,000
0
0%
101-0000-43632
Public Works Permits
212,483
150,000
150,000
78,539
100,000
(50,000)
-33%
101-0000-43638
NPDES Inspections
11,365
11,000
11,000
6,711
10,000
(1,000)
-9%
2,386,500
(134,800)
-5%
320 - Licenses
& Permits Totals:
3,994,913
2,521,300
2,521,300
2,131,001
330 - Intergovernmental
101-0000-41710
State Gov't Revenue
203,682
0
0
0
0
0
0%
101-0000-42500
Fire Service Credit
9,473,316
9,000,000
9,000,000
6,288,398
11,000,000
2,000,000
22%
3
CITY OF LA QUINTA
101-0000-43100 FEMA
101-0000-43633 CSA 152 Assessments
101-0000-43650 Contributions from Other
330 - Intergovernmental Totals:
340 - Charges for Services
2022/23
GENERAL FUND REVENUE DETAILS FY 2024/25 PROPOSED BUDGET
2023/24 2023/24 2023/24 2024/25 24/25 vs. % Change
i inal Budget Current Budget YTD Activity* Proposed Current 23 24 in Bud et
33,247
0
0
0
0
0
0%
275,816
175,000
175,000
520,573
250,000
75,000
43%
3,000
3,000
3,000
0
3,000
0
0%
9,989,060
9,178,000
9,178,000
6,808,970
11,253,000
2,075,000
23%
101-0000-42200
Leisure Enrichment
13,313
11,000
11,000
6,490
11,000
0
0%
101-0000-42210
Youth Sports
45,710
40,000
40,000
32,310
40,000
0
0%
101-0000-42211
Adult Sports
8,207
5,000
5,000
1,220
5,000
0
0%
101-0000-42212
Facility Rentals
7,959
10,000
10,000
12,766
10,000
0
0%
101-0000-42213
Special Events
0
5,000
5,000
350
5,000
0
0%
101-0000-42214
Wellness Center Leisure 1
16,556
10,000
10,000
20,404
15,000
5,000
50%
101-0000-42216
Wellness Center Special 1
0
1,000
1,000
648
1,000
0
0%
101-0000-42218
Wellness Center Member:
88,602
50,000
50,000
83,170
80,000
30,000
60%
101-0000-42300
Cash Over/Short
0
0
0
1,009
0
0
0%
101-0000-42303
NSF Charges
75
100
100
135
100
0
0%
101-0000-42412
Minor Adjustment, Plan C
33,360
20,000
20,000
10,813
10,000
(10,000)
-50%
101-0000-42415
Tentative Tract Map
33,124
20,000
20,000
23,788
20,000
0
0%
101-0000-42416
Digitization/Records Man,
54,190
30,000
30,000
32,546
20,000
(10,000)
-33%
101-0000-42417
Modification by Applicant
1,975
2,500
2,500
2,275
2,500
0
0%
101-0000-42440
Appeals - Permits, Licens
750
1,500
1,500
250
1,000
(500)
-33%
101-0000-42441
Planning Compliance Rev
838
500
500
922
500
0
0%
101-0000-42443
Zone Change
1,702
10,500
10,500
13,552
11,000
500
5%
101-0000-42445
Environmental Assessme
12,254
7,000
7,000
3,158
5,000
(2,000)
-29%
101-0000-42446
General Plan Amendment
11,379
11,000
11,000
11,899
12,000
1,000
9%
101-0000-42447
Home Occupations
6,658
7,000
7,000
6,617
7,000
0
0%
101-0000-42448
Tentative Parcel Map
14,238
10,000
10,000
11,221
11,000
1,000
10%
101-0000-42451
Specific Plan
5,194
12,000
12,000
12,736
12,000
0
0%
101-0000-42456
Lot Exemption Fee
0
0
0
3,000
0
0
0%
101-0000-42460
Pre -Application Review
6,069
8,000
8,000
7,577
8,000
0
0%
101-0000-42600
Building Plan Check Fees
933,046
500,000
500,000
470,344
550,000
50,000
10%
101-0000-42610
SMIP Fees
1,409
500
500
177
500
0
0%
101-0000-42615
CBSC Administrative Fee:
1,409
600
600
0
600
0
0%
101-0000-42810
Public Works Dev. Plan C
223,062
160,000
160,000
311,884
160,000
0
0%
101-0000-43631
CVMSHCP Admin Fee
5,911
2,500
2,500
697
2,500
0
0%
101-0000-43635
VGPS TBID Admin Fee
31,868
27,500
27,500
8,954
28,000
500
2%
340 - Charges
for Services Totals:
1,558,859
963,200
963,200
1,090,911
1,028,700
65,500
7%
350 - Fines, Forfeitures & Abatements
101-0000-42700
Administrative Citations
339,246
240,000
240,000
119,338
120,000
(120,000)
-50%
101-0000-42701
Lot Abatement
931
5,000
5,000
6,789
5,500
500
10%
101-0000-42702
Vehicle Abatement
42,773
35,000
35,000
30,315
35,000
0
0%
101-0000-42703
Vehicle Impound Fee
55,457
65,000
65,000
40,350
65,000
0
0%
101-0000-42705
Motor Vehicle Code Fines
69,488
60,000
60,000
27,995
60,000
0
0%
101-0000-42706
Parking Violations
22,702
35,000
35,000
7,759
15,000
(20,000)
-57%
101-0000-42707
Misc Fines
1,221
1,500
1,500
284
1,500
0
0%
101-0000-42708
Graffiti Removal
8,071
9,000
9,000
0
9,000
0
0%
4
CITY OF LA QUINTA
101-0000-42709 False Alarm Fees - Police
101-0000-42710 False Alarm Fees - Fire
- Fines, Forfeitures & Abatements Totals;
360 - Use of Money & Property
GENERAL FUND REVENUE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
0/b Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed
Current 23 24
in Bud et
19,222
10,000
10,000
30,726
25,000
15,000
150%
4,383
5,000
5,000
(93)
5,000
0
0%
563,495
465,500
465,500
263,463
341,000
(124,500)
-27%
101-0000-41900 Allocated Interest
2,865,841
1,700,000
1,700,000
(126,588)
1,500,000
(200,000)
-12%
101-0000-41910 GASB 31 Interest
(893,437)
0
0
0
0
0
0%
101-0000-41930 Interest Revenue
45,221
0
0
0
40,000
40,000
0%
101-0000-42120 Lease Revenue
143,553
160,000
160,000
108,769
150,000
(10,000)
-6%
360 - Use of Money & Property Totals:
2,161,178
1,860,000
1,860,000
(17,819)
1,690,000
(170,000)
-90/0
370 - Miscellaneous
101-0000-41410 Zoning Change Mitigatior
101-0000-41504 AMR Compliance
101-0000-41507 Burrtec Admin Cost Reim
101-0000-41920 Memorial Tree Revenue
101-0000-42000 Insurance Recoveries
101-0000-42140 Sales of Publications & M
101-0000-42301 Miscellaneous Revenue
101-0000-42305 Miscellaneous Reimburse
101-0000-43505 Credit Card Fee Revenue
101-0000-45000 Sale of Other Assets
101-0000-48500 Extraordinary Gain
370 - Miscellaneous Totals:
1,612,340
550,000
550,000
798,037
0
20,000
20,000
104,381
66,614
110,000
110,000
135,146
1,000
0
0
500
46,299
5,000
5,000
912
640
100
100
0
113,339
60,000
60,000
37,440
168,735
75,000
75,000
189,237
59,589
40,000
40,000
53,083
29,994
0
0
2,227
381,192
0
0
0
450,000
(100,000)
-18%
50,000
30,000
150%
125,000
15,000
14%
0
0
0%
5,000
0
0%
100
0
0%
25,000
(35,000)
-58%
50,000
(25,000)
-33%
40,000
0
0%
0
0
0%
0
0
0%
2,479,742 860,100 860,100 1,320,964 745,100 (115,000) -13%
380 - Transfers In
101-0000-49500 Transfers In 5,000,000 0 0 0 I 0 0 0%
380 - Transfers In Totals: 5,000,000 0 0 0 0 0 00/0
90,893,246 78,478,100 78,478,100 49,247,972 1 80,714,300 2,236,200 3%
5
CITY OF LA QUINTA GENERAL FUND REVENUE NOTES FY 2024/25 PROPOSED BUDGET
Fund: 101 - GENERAL FUND
101-0000-40310 = Property Tax Revenue
3,400,000.00
Property tax estimates are provided by HdL consulting services.
Actual valuation changes due to the annual 2% Proposition 13
increase, as well as transfers of ownership are included, but
completed new construction is not (unless the property was
completed and sold in 2023). The City participates in the
Teeter Droaram, therefore no delinauencies are assumed.
101-0000-41320 State Sales Tax 12,000,000.00
Bradley Burns (local share of state sales tax) is 1% of the
current sales tax rate (8.75%). HdL consulting services budget
estimates are factored into projections along with reviews of
industry and economic reports and local trends.
101-0000-41326 Measure G Sales Tax 15,500,000.00
Transaction and use sales tax is 1% of the current sales tax
rate (8.75%) and is also known as Measure G. Online
transactions, as well as big -ticket consumer goods delivered to
local addresses drive this number.
101-0000-41400 TOT - Hotels 9,370,000.00
Transient occupancy tax for hotels is 11%. Leisure and
hospitality make up 25% of the employment sector in the
Coachella Valley and is anticipated to remain strong in the
upcoming year due to increased events valleywide.
101-0000-41401 TOT - Short Term Vac. Rentals 5,500,000.00
Transient occupancy tax for short-term vacation rentals (STVR)
is 10%. Consumer demand for STVRs continues to be strong.
101-0000-41402 TOT - Bed and Breakfast 100,000.00
CITY OF LA QUINTA GENERAL FUND REVENUE NOTES FY 2024/25 PROPOSED BUDGET
101-0000-41410
101-0000-41415
101-0000-41416
101-0000-41505
101-0000-41507
Transient occupancy tax for bed and breakfast is 10%.
Zoning Change Mitigation Fees 450,000.00
Fees are charged based on development agreements, whereby
former commercial property was converted to housing
developments and mitigation fees cover lost revenue from the
change in development type.
STVR Registration Fee
900,000.00
Short-term vacation rental registration fees are updated
annually with the City's Master Fee Schedule update.
TOT - Resort Fees
370,000.00
TOT levied on resort fees which are charged by some hotels.
The City provides an annual incentive rebate program for
hotels collecting TOT on resort fees. Rebate programs are
budgeted in Centralized Services.
Franchise Taxes - Burrtec
1,130,000.00
Burrtec Franchise Fee is based on an agreement with the City
and is adjusted annually on January 1st per a consumer price
index.
Burrtec Admin Cost Reimburse 125,000.00
Base amount of $108,000 adjusted annually on January 1 by
the change in the Consumer Price Index (CPI) and ending on
6/30/2037.
101-0000-41800 Property Tax in Lieu of VLF 5,850,000.00
Property tax in lieu of vehicle license fee (VLF) is derived from
the 2004 property tax swap whereby cities receive property tax
allocation in lieu of VLF's. The VLF allocation can change
annually based on the percent increase in property valuations.
CITY OF LA QUINTA GENERAL FUND REVENUE NOTES
FY 2024/25 PROPOSED BUDGET
101-0000-41900 Allocated Interest 1,500,000.00
Interest rates are anticipated to level off into FY 2023/24 as
the Federal Reserve has raised rates in an attempt to curb
inflation in the current year. Maturing securities will be
reinvested at potentially higher rates and the Local Agency
Investment Fund (LAIF) vield will rise as well.
101-0000-42200 Leisure Enrichment 11,000.00
Various leisure enrichment activity revenues were budgeted
with no increase, based on FY 23/24 actual amounts. The City
continues working on building addtional programming.
101-0000-42218 Wellness Center Memberships 80,000.00
The Wellness Center continues to work on increasing
memberships and has expanded services to seven-day
operations. Membership fees are limited to new members.
101-0000-42420 Fire Plan Review Fee 85,000.00
Fire Plan Reviews are conducted in-house by Riverside County
Fire Inspectors.
101-0000-42421 Fire Inspection Fee 100,000.00
Fire Inspections are conducted in-house by Riverside County
Fire Inspectors.
101-0000-42440 Appeals - Permits, Licenses, Pr 1,000.00
Appeals for permits, licenses, and violations are captured in
this revenue line item.
101-0000-42500 Fire Service Credit 11,000,000.00
Property tax revenue restricted for fire services.
101-0000-42709 False Alarm Fees - Police 25,000.00
8
CITY OF LA QUINTA GENERAL FUND REVENUE NOTES FY 2024/25 PROPOSED BUDGET
101-0000-43633
False alarm fees are expected to increase due to City's
enforcement efforts in collection of fees for Sheriff's responses
to false alarms.
CSA 152 Assessments
250,000.00
Annual revenue generated through property tax collection and
held by the County until reimbursements for qualified
expenditures are submitted by the City.
101-0000-43650 Contributions from Other Agen 3,000.00
The approved Last and Final Recognized Obligation Payment
Schedule (ROPS) includes an annual administrative fee
reimbursement for the City to perform the wind down activities
associated with the former Redevelopment Agency.
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
1001 - City Council
50 - Salaries and Benefits
101-1001-50108
Salaries - Council Membe
144,494
144,000
144,000
116,308
144,000
0
0%
101-1001-50150
Other Compensation
2,427
2,400
2,400
1,900
2,400
0
0%
101-1001-50200
PERS-City Portion
9,467
10,800
10,800
8,645
10,900
100
1%
101-1001-50221
Medical Insurance
69,990
95,700
95,700
63,468
109,100
13,400
11%
101-1001-50222
Vision Insurance
589
0
0
499
0
0
0%
101-1001-50223
Dental Insurance
2,416
0
0
1,720
0
0
0%
101-1001-50224
Life Insurance
327
0
0
261
0
0
0%
101-1001-50230
Workers Comp Insurance
10,500
23,900
23,900
17,925
23,900
0
0%
101-1001-50240
Social Security -Medicare
2,095
5,600
5,600
1,686
5,600
0
0%
101-1001-50241
Social Security -FICA
3,432
0
0
2,764
0
0
0%
50 - Salaries and Benefits Totals:
245,737
282,400
282,400
215,176
295,900
13,500
50/0
62 - Maintenance & Operations
101-1001-60137 Community Special Eveni
42,406
20,000
20,000
14,346
20,000
0
0%
101-1001-60320 Travel & Training
24,206
15,000
15,000
24,581
30,000
15,000
100%
101-1001-60420 Operating Supplies
322
500
500
272
500
0
0%
62 - Maintenance & Operations Totals:
66,934
35,500
35,500
39,199
50,500
15,000
27%
1001 - City Council Totals: 312,671 317,900 317,900 254,375 346,400 28,500 80/b
ill
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 1001 - City Council
101-1001-60137 Community Special Events
Annual City open house
State of the City
101-1001-60320 Travel & Training
20,000.00
30,000.00
League of CA Cities- Annual conference, legislative action days,
and other trainings.
Council meeting expenses
if
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
1002 - City Manager
50 - Salaries and Benefits
101-1002-50101
Permanent Full Time
557,291
607,800
607,800
426,930
618,300
10,500
2%
101-1002-50105
Salaries - Overtime
0
0
0
14
0
0
0%
101-1002-50150
Other Compensation
1,047
900
900
684
900
0
0%
101-1002-50200
PERS-City Portion
40,309
57,700
57,700
33,793
57,700
0
0%
101-1002-50215
Other Fringe Benefits
20,580
36,760
36,760
27,255
29,200
(7,560)
-61%
101-1002-50221
Medical Insurance
81,955
114,800
114,800
60,989
125,500
10,700
13%
101-1002-50222
Vision Insurance
759
0
0
515
0
0
0%
101-1002-50223
Dental Insurance
4,743
0
0
3,182
0
0
0%
101-1002-50224
Life Insurance
281
0
0
197
0
0
0%
101-1002-50225
Long Term Disability
3,070
3,900
3,900
2,334
3,900
0
0%
101-1002-50230
Workers Comp Insurance
7,100
23,900
23,900
17,925
23,900
0
0%
101-1002-50240
Social Security -Medicare
8,197
8,900
8,900
6,594
9,000
100
2%
101-1002-50241
Social Security -FICA
0
0
0
1,724
0
0
0%
101-1002-50251
Temporary
0
0
0
27,807
35,000
35,000
0%
50 - Salaries and Benefits Totals:
725,331
854,660
854,660
609,943
903,400
48,740
7%
60 - Contract Services
101-1002-60101 Contract Services - Admi 69,671 125,000 125,000 83,000 125,000 0 0%
101-1002-60103 Professional Services 38,406 45,000 45,000 757 45,000 0 0%
60 - Contract Services Totals: 108,078 170,000 170,000 83,757 170,000 0 00/0
62 - Maintenance & Operations
101-1002-60320 Travel & Training
5,993
6,000
6,000
3,355
10,000
4,000
67%
101-1002-60351 Membership Dues
102,314
105,000
105,000
105,594
105,000
0
0%
101-1002-60352 Subscriptions & Publicati<
850
2,000
2,000
850
2,000
0
0%
101-1002-60400 Office Supplies
1,718
1,500
1,500
1,696
1,500
0
0%
101-1002-60420 Operating Supplies
1,606
0
0
0
0
0
0%
62 - Maintenance & Operations Totals:
112,481
114,500
114,500
111,495
118,500
4,000
3%
64 - Other Expenses
101-1002-60510 Contingency for Operatio 58,927 300,000 300,000 11,890 I 300,000 0 0%
64 - Other Expenses Totals: 58,927 300,000 300,000 11,890 300,000 0 00/0
69 - Internal Service Charges
101-1002-98110 Information Tech Charge 78,200 149,200 149,200 111,900 I 149,200 0 0%
69 - Internal Service Charges Totals: 78,200 149,200 149,200 111,900 149,200 0 00/0
1002 - City Manager Totals: 1,083,016 1,588,360 1,588,360 928,985 1,641,100 52,740 4%
12
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 1002 - City Manager
101-1002-50101 Permanent Full Time 618,300.00
80% - City Manager (20% Housing Fund)
60% - Director- Business Unit/Housing Development (40%
Housing Fund)
100% - Executive Specialist
100% - Marketing & Communications Specialist
100% - Management Specialist
20% - Administrative Technician (80% Housing Fund)
101-1002-60101 Contract Services - Administra 125,000.00
Legislative lobbying services
Economic development services
101-1002-60103 Professional Services 45,000.00
Title and appraisal services and property surveys
Waste management for special events
101-1002-60320 Travel & Training 10,000.00
League of California Cities (LCC)
Regional meetings & miscellaneous training such as:
Coachella Valley Association of Governments (CVAG),
California Cities/Counties Mgmt Foundation (CCMF), and
Southern CA Association of Governments (SCAG1
101-1002-60351 Membership Dues
105,000.00
International City/County Mgmt Association (ICMA)
League of CA Cities (LCC) - Riverside
California Cities/Counties Mgmt Foundation (CCMF)
Coachella Valley Association of Governments (CVAG)
National League of Cities (NLC)
Southern CA Association of Governments (SCAG1
13
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
101-1002-60352
101-1002-60510
Subscriptions & Publications
Property analysis and grant solutions
Contingency for Operations
2,000.00
300,000.00
14
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
1004 - Human Resources
50 - Salaries and Benefits
101-1004-50101
Permanent Full Time
166,423
257,000
257,000
146,768
265,100
8,100
5%
101-1004-50102
Salaries - Part Time
109
0
0
0
0
0
0%
101-1004-50150
Other Compensation
1
0
0
0
0
0
0%
101-1004-50200
PERS-City Portion
12,163
19,700
19,700
10,756
20,900
1,200
10%
101-1004-50215
Other Fringe Benefits
2,600
3,900
3,900
2,100
3,900
0
0%
101-1004-50221
Medical Insurance
29,851
71,800
71,800
24,471
82,000
10,200
21%
101-1004-50222
Vision Insurance
461
0
0
364
0
0
0%
101-1004-50223
Dental Insurance
2,891
0
0
2,244
0
0
0%
101-1004-50224
Life Insurance
129
0
0
104
0
0
0%
101-1004-50225
Long Term Disability
1,019
1,700
1,700
882
1,700
0
0%
101-1004-50230
Workers Comp Insurance
4,200
14,300
14,300
10,725
14,300
0
0%
101-1004-50240
Social Security -Medicare
2,460
3,800
3,800
2,410
3,900
100
4%
101-1004-50241
Social Security -FICA
130
0
0
1,058
0
0
0%
101-1004-50251
Temporary
111
25,000
25,000
17,059
50,000
25,000
0%
101-1004-50252
Annual Wellness Dollar R
10,835
18,000
18,000
5,569
18,000
0
0%
50 - Salaries and Benefits Totals:
233,383
415,200
415,200
224,511
459,800
44,600
17%
60 - Contract Services
101-1004-60103 Professional Services
101-1004-60104 Consultants/Employee SE
101-1004-60125 Temporary Agency Servii
60 - Contract Services Totals:
62 - Maintenance & Operations
101-1004-60129
Recruiting/Pre-EmploymE
101-1004-60320
Travel & Training
101-1004-60322
Training & Education/MOi
101-1004-60340
Employee Recognition Ev
101-1004-60351
Membership Dues
101-1004-60352
Subscriptions & Publicati<
101-1004-60400
Office Supplies
101-1004-60420
Operating Supplies
62 - Maintenance
& Operations Totals:
93,797 5,000 34,500
18,517 25,000 45,000
0 0 0
409
39,626
34,500 0 0%
45,000 0 0%
0 0 0%
112,314 30,000 79,500 41,401 79,500 0 00/0
9,608
15,000
15,000
3,264
15,000
0
0%
(144)
10,000
10,000
8,066
10,000
0
0%
5,763
52,000
52,000
2,357
52,000
0
0%
23,981
30,000
30,000
16,150
30,000
0
0%
6,375
10,000
10,000
6,375
10,000
0
0%
779
1,500
1,500
702
1,500
0
0%
463
500
500
152
500
0
0%
508
1,000
1,000
313
1,000
0
0%
47,333
120,000
120,000
37,379
120,000
0
00/0
69 - Internal Service Charges
101-1004-98110 Information Tech Charge 46,000 86,600 86,600 64,950 I 86,600 0 0%
69 - Internal Service Charges Totals: 46,000 86,600 86,600 64,950 86,600 0 00/0
1004 - Human Resources Totals: 439,030 651,800 701,300 368,242 745,900 44,600 8%
15
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 1004 - Human Resources
101-1004-50101 Permanent Full Time
100% - Human Resources Manager
100% - Human ResourcesTechnician (2)
265,100.00
101-1004-60103 Professional Services 34,500.00
Citywide employee development programs
101-1004-60104 Consultants/Employee Service 45,000.00
Employee Assistance Program (EAP)- Wellness Works
CaIPERS- Monthly medical premium and administration fees
TAG/AMS DOT random screenings
DMV medical exams (Class B)
Bilingual testing
101-1004-60129 Recruiting/Pre-Employment 15,000.00
Interview panel costs
Fingerprinting
Physicals and drug screenings
Background checks
101-1004-60320 Travel & Training 10,000.00
Liebert Cassidy Whitmore (LCW)- law & labor relations
Educational forums and miscellaneous training
101-1004-60351 Membership Dues 10,000.00
ill
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Society of HR Management (SHRM)
Professionals in HR Association (PIHRA)
International Public Management Association for HR (IPMA-HR),
World at Work (WOW)
CV Employment Relations Consortium (LCW)
CA Public Emolovers Labor Relations Assoc. (CaIPELRAI
101-1004-60352 Subscriptions & Publications 1,500.00
Labor law compliance posters
17
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
3007 - Marketing
& Community Relations
50 - Salaries and Benefits
101-3007-50101
Permanent Full Time
120,557
144,100
144,100
153,090
216,600
72,500
37%
101-3007-50200
PERS-City Portion
8,757
11,100
11,100
11,325
17,100
6,000
42%
101-3007-50215
Other Fringe Benefits
1,300
1,560
1,560
1,050
2,600
1,040
83%
101-3007-50221
Medical Insurance
21,407
28,700
28,700
36,160
54,600
25,900
52%
101-3007-50222
Vision Insurance
181
0
0
311
0
0
0%
101-3007-50223
Dental Insurance
1,594
0
0
2,230
0
0
0%
101-3007-50224
Life Insurance
66
0
0
94
0
0
0%
101-3007-50225
Long Term Disability
736
1,000
1,000
927
1,400
400
31%
101-3007-50230
Workers Comp Insurance
4,200
5,800
5,800
4,350
5,800
0
0%
101-3007-50240
Social Security -Medicare
1,748
2,100
2,100
2,220
3,200
1,100
39%
50 - Salaries and Benefits Totals:
160,546
194,360
194,360
211,756
301,300
106,940
40%
60 - Contract Services
101-3007-60134 Promotional Items
101-3007-60137 Community Engagement
101-3007-60151 VGPS - Visit Greater Paln
60 - Contract Services Totals:
62 - Maintenance & Operations
101-3007-60320
Travel & Training
101-3007-60351
Membership Dues
101-3007-60410
Printing
101-3007-60420
Operating Supplies
101-3007-60450
Sponsorships/Advertising
101-3007-60461
Marketing & Tourism Proi
62 - Maintenance
& Operations Totals:
67,941 90,000
6,368 7,000
06,711 390,000
90,000
7,000
390,000
24,969
14,903
18.271
90,000 0 0%
10,000 3,000 28%
395,000 5,000 1%
481,020 487,000 487,000 458,143 495,000 8,000 2%
2,836
12,000
12,000
15,428
15,000
3,000
38%
8,846
10,000
10,000
12,579
10,000
0
0%
18,979
30,000
30,000
8,367
30,000
0
0%
1,647
1,600
1,600
1,358
1,600
0
0%
36,095
75,000
75,000
52,006
75,000
0
0%
92,094
970,000
970,000
675,401
970,000
0
0%
960,497 1,098,600 1,098,600 765,139 1,101,600 3,000 00/0
69 - Internal Service Charges
101-3007-98110 Information Tech Charge 46,000 34,700 34,700 26,025 I 34,700 0 0%
69 - Internal Service Charges Totals: 46,000 34,700 34,700 26,025 34,700 0 00/0
Marketing & Community Relations Totals: 1,648,064 1,814,660 1,814,660 1,461,063 1,932,600 117,940 6%
18
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 3007 - Marketing & Community Relations
101-3007-50101 Permanent Full Time
100% - Marketing Manager
100% - Marketing & Communications Specialist
101-3007-60134 Promotional Items
For community engagement and special events
101-3007-60137 Community Engagement
Community workshop and City events
101-3007-60151 VGPS - Visit Greater Palm Spri
216,600.00
90,000.00
10,000.00
395,000.00
Payment of transient occupancy tax (TOT) to Visit Greater Palm
Springs (VGPS) for a percentage all TOT revenue collected to
jointly encourage, promote, and attract visitors to the
Coachella Valley.
.0015 of gross rental revenue for non -convention TOT
.0035 of aross rental revenue for convention TOT
101-3007-60320 Travel & Training 15,000.00
Visit CA - travel destination conference
CalTravel - travel destination conference
101-3007-60351 Membership Dues 10,000.00
19
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Coachella Valley Economic Partnership (CVEP), CA Association
of Public Information Officers (CAPIO), Cal Travel, Public
Relations Society of America (PRSA), Mail Chimp, and Ragan
Communications
101-3007-60410 Printing 30,000.00
Citywide business cards, event signs, and banners
101-3007-60450 Sponsorships/Advertising 75,000.00
Various sponsorships including CVEP Summit, Modernism
Week, National Date Festival
101-3007-60461 Marketing & Tourism Promotio 970,000.00
Photography, Chamber of Commerce Contract, Video,
Commercials, Marketing Contracts, Marketing Efforts, Music
Licensing, Palm Springs Life Vision, and State of the City
20
CITY OF LA QUINTA GENERAL FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23 2023/24 2023/24 2023/24 2024/25 24/25 vs. % Change
Actuals Original Budget Current Budget YTD Activity* Proposed Budget Current 23/24 in Budget
1003 - City Attorney
60 - Contract Services
101-1003-60153 Attorney 318,475 650,000 650,000 208,038 650,000 0 0%
101-1003-60154 Attorney/Litigation 39,714 150,000 150,000 60,851 150,000 0 0%
60 - Contract Services Totals: 358,188 800,000 800,000 268,889 800,000 0 0%
1003 - City Attorney Totals: 358,188 800,000 800,000 268,889 800,000 0 0%
21
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
1005 - City Clerk
50 - Salaries and Benefits
101-1005-50101
Permanent Full Time
419,353
483,200
483,200
383,828
524,900
41,700
9%
101-1005-50105
Salaries - Overtime
0
5,000
5,000
0
5,000
0
0%
101-1005-50150
Other Compensation
823
500
500
622
500
0
0%
101-1005-50200
PERS-City Portion
37,884
46,500
46,500
36,291
51,600
5,100
13%
101-1005-50215
Other Fringe Benefits
6,500
7,670
7,670
5,695
7,670
0
0%
101-1005-50221
Medical Insurance
88,428
141,000
141,000
80,389
160,900
19,900
14%
101-1005-50222
Vision Insurance
818
0
0
711
0
0
0%
101-1005-50223
Dental Insurance
3,892
0
0
3,307
0
0
0%
101-1005-50224
Life Insurance
350
0
0
7,792
0
0
0%
101-1005-50225
Long Term Disability
2,542
3,100
3,100
2,309
3,400
300
11%
101-1005-50230
Workers Comp Insurance
12,300
28,100
28,100
21,075
28,100
0
0%
101-1005-50240
Social Security -Medicare
6,287
7,000
7,000
5,873
7,600
600
9%
101-1005-50241
Social Security -FICA
487
0
0
907
0
0
0%
101-1005-50251
Temporary
11,207
15,000
15,000
18,799
15,000
0
0%
50 - Salaries and Benefits Totals:
590,870
737,070
737,070
567,597
804,670
67,600
100/0
60 - Contract Services
101-1005-60103 Professional Services 242,931 200,000 200,000 111,849 365,000 165,000 48%
101-1005-60125 Temporary Agency Servi( 0 25,000 25,000 0 25,000 0 0%
60 - Contract Services Totals: 242,931 225,000 225,000 111,849 390,000 165,000 43%
62 - Maintenance & Operations
101-1005-60320
Travel & Training
101-1005-60351
Membership Dues
101-1005-60400
Office Supplies
101-1005-60410
Printing
101-1005-60420
Operating Supplies
101-1005-60450
Advertising
62 - Maintenance
& Operations Totals
8,511
15,000
15,000
5,105
15,000
0
0%
1,350
3,000
3,000
1,546
3,000
0
0%
2,012
2,500
2,500
2,083
3,500
1,000
40%
7,278
10,000
10,000
7,201
10,000
0
0%
943
1,200
1,200
1,091
2,000
800
67%
8,454
5,500
5,500
1,454
8,000
2,500
63%
28,548
37,200
37,200
18,479
41,500
4,300
12%
69 - Internal Service Charges
101-1005-98110 Information Tech Charge 134,608 170,400 170,400 127,800 I 170,400 0 0%
69 - Internal Service Charges Totals: 134,608 170,400 170,400 127,800 170,400 0 00/0
1005 - City Clerk Totals: 996,957 1,169,670 1,169,670 825,725 1,406,570 236,900 19%
22
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 1005 - City Clerk
101-1005-50101 �ermanent Full Time
90% - City Clerk (10% Housing)
100% - Deputy City Clerk
100% - Sr. Permit Technician
100% - Permit Technician
100% - Administrative Technician (2)
524,900.00
101-1005-60103 Professional Services 365,000.00
Municipal Code text and online updates
Imaging scanning services
For The Record tech support (DSS Corp)
DigiCert electronic signatures
Ctiywide fee study updates
Insurance compliance
Records legislation, requirements, minute writing services, and
retention updates
STVR Programming Compliance, Analytics & Permitting
C(lff-\A/Li ra
101-1005-60125 Temporary Agency Services 25,000.00
101-1005-60320 Travel & Training 15,000.00
CA City Clerks Association annual conference & seminars
Municipal Clerks certifications and training
101-1005-60351 Membership Dues 3,000.00
California City Clerks Association (CCAC)- 4 employees
National Notary Association Errors and Omission insurance
(E&O)- 3 employees
International Institute of Municipal Clerks (IIMC) membership
101-1005-60410 Printing
101-1005-60450 Advertising
10,000.00
8,000.00
23
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Public hearing notices, Commission and Board vacancies
24
CITY OF LA QUINTA GENERAL FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
3001 - Community Services Administration
50 - Salaries and Benefits
101-3001-50101
Permanent Full Time
345,319
308,000
308,000
250,743
140,000
(168,000)
-41%
101-3001-50110
Commissions & Boards
2,550
4,500
4,500
1,200
6,300
1,800
40%
101-3001-50150
Other Compensation
385
400
400
304
0
(400)
-100%
101-3001-50200
PERS-City Portion
25,697
27,500
27,500
21,863
27,500
0
0%
101-3001-50215
Other Fringe Benefits
3,640
5,460
5,460
2,940
1,600
(3,860)
-110%
101-3001-50221
Medical Insurance
53,654
100,400
100,400
44,953
100,400
0
0%
101-3001-50222
Vision Insurance
562
0
0
445
0
0
0%
101-3001-50223
Dental Insurance
2,523
0
0
1,879
0
0
0%
101-3001-50224
Life Insurance
191
0
0
146
0
0
0%
101-3001-50225
Long Term Disability
1,906
1,600
1,600
1,532
900
(700)
-88%
101-3001-50230
Workers Comp Insurance
7,300
20,000
20,000
15,000
20,000
0
0%
101-3001-50240
Social Security -Medicare
5,044
4,500
4,500
3,653
2,100
(2,400)
-41%
101-3001-50241
Social Security -FICA
158
0
0
74
0
0
0%
50 -
Salaries and Benefits Totals:
448,931
472,360
472,360
344,734
298,800
(173,560)
-32%
60 - Contract Services
101-3001-60101 Contract Services
25,000
25,000
25,000
25,000
25,000
0 0%
101-3001-60122 Credit Card Fees
6,803
7,000
7,000
4,866
7,000
0 0%
101-3001-60135 Boys & Girls Club
40,000
60,000
60,000
40,000
60,000
0 0%
60 - Contract Services Totals:
71,803
92,000
92,000
69,866
92,000
0 00/0
62 - Maintenance & Operations
101-3001-60157
Rent Expense
101-3001-60320
Travel & Training
101-3001-60351
Membership Dues
101-3001-60400
Office Supplies
101-3001-60510
Grants & Economic Devel
101-3001-60527
2-1-1 Hotline
101-3001-60531
Homeless Bus Passes
62 - Maintenance
& Operations Totals:
0
3,000
3,000
0
3,000
0
0%
141
4,000
4,000
0
4,000
0
0%
0
1,000
1,000
0
1,000
0
0%
1,577
1,500
1,500
1,947
3,300
1,800
120%
135,000
175,000
325,000
246,450
175,000
(150,000)
-111%
0
15,000
15,000
0
15,000
0
0%
3,000
3,000
3,000
3,000
3,000
0
0%
139,718 202,500 352,500 251,397 204,300 (148,200) -92%
69 - Internal Service Charges
101-3001-98110 Information Tech Charge 80,500 121,300 121,300 90,975 I 121,300 0 0%
69 - Internal Service Charges Totals: 80,500 121,300 121,300 90,975 121,300 0 00/0
Community Services Administration Totals: 740,952 888,160 1,038,160 756,972 716,400 (321,760) -36%
25
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 3001 - Community Services Administration
101-3001-50101 Permanent Full Time 140,000.00
40% - Community Services Deputy Director (40% Wellness
Center, 20% Library & Museum Fund)
80% - Management Analystr (20% Library & Museum Fund)
101-3001-60101 Contract Services 25,000.00
Old Towne Artisan Studio wellness west partnership
101-3001-60157 Rent Expense 3,000.00
DSUSD Facility Use rental
101-3001-60320 Travel & Training 4,000.00
Leadership training
101-3001-60351 Membership Dues 1,000.00
Engaging Local Government Leaders (ELGL)
International City/County Management Association (ICMA)
Americans for the Arts
California Parks & Recreation Society (CPRS)
National Recreation & Park Association NRPA
101-3001-60510 Grants & Economic Developme 175,000.00
$100,000 for Community Services Grants are administered per
City Policy and selected via a Grant Ad Hoc Commitee.$75,000
for food distribution and other social service programs.
26
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
3002 - Wellness Center Operations
50 - Salaries and Benefits
101-3002-50101
Permanent Full Time
259,735
280,100
280,100
227,055
233,300
(46,800)
-19%
101-3002-50102
Salaries - Part Time
152,992
71,250
71,250
119,531
82,500
11,250
8%
101-3002-50105
Salaries - Overtime
0
5,000
5,000
480
5,000
0
0%
101-3002-50150
Other Compensation
963
1,000
1,000
760
1,000
0
0%
101-3002-50200
PERS-City Portion
33,152
30,800
30,800
29,294
27,900
(2,900)
-9%
101-3002-50215
Other Fringe Benefits
4,420
4,420
4,420
3,570
3,200
(1,220)
-29%
101-3002-50221
Medical Insurance
62,512
81,300
81,300
51,240
65,500
(15,800)
-19%
101-3002-50222
Vision Insurance
909
0
0
718
0
0
0%
101-3002-50223
Dental Insurance
5,389
0
0
4,103
0
0
0%
101-3002-50224
Life Insurance
225
0
0
178
0
0
0%
101-3002-50225
Long Term Disability
1,601
1,800
1,800
1,393
1,500
(300)
-23%
101-3002-50230
Workers Comp Insurance
7,100
16,200
16,200
12,150
16,200
0
0%
101-3002-50240
Social Security -Medicare
6,298
4,100
4,100
5,068
3,400
(700)
-12%
101-3002-50241
Social Security -FICA
5,601
0
0
3,449
0
0
0%
101-3002-50251
Temporary
18,582
0
0
53
0
0
0%
50 - Salaries and Benefits Totals:
559,481
495,970
495,970
459,042
439,500
(56,470)
-10%
60 - Contract Services
101-3002-60103 Professional Services
0
5,000
5,000
0
5,000
0
0%
101-3002-60107 Instructors
21,849
20,000
20,000
31,010
30,000
10,000
25%
101-3002-60108 Technical
3,000
5,000
5,000
4,000
1,000
(4,000)
-133%
60 - Contract Services Totals:
24,849
30,000
30,000
35,010
36,000
6,000
13%
62 - Maintenance & Operations
101-3002-60157
Rental Expense
101-3002-60320
Travel & Training
101-3002-60351
Membership Dues
101-3002-60352
Subscriptions & Publicati<
101-3002-60400
Office Supplies
101-3002-60420
Operating Supplies
101-3002-60432
Tools/Equipment
62 - Maintenance
& Operations Totals:
53
3,000
3,000
0
3,000
0
0%
0
1,000
1,000
31
1,000
0
0%
1,040
5,000
5,000
1,046
5,000
0
0%
0
1,200
1,200
437
2,400
1,200
171%
829
3,000
3,000
232
3,000
0
0%
31,796
50,000
50,000
29,152
50,000
0
0%
0
1,000
1,000
0
1,000
0
0%
33,718
64,200
64,200
30,898
65,400
1,200
2%
68 - Capital Expenses
101-3002-80101 Machinery & Equipment 0 130,000 130,000 120,432 I 25,000 (105,000) 0%
68 - Capital Expenses Totals: 0 130,000 130,000 120,432 25,000 (105,000) 00/0
69 - Internal Service Charges
101-3002-98110 Information Tech Charge 78,200 98,200 98,200 73,650 98,200 0 0%
101-3002-98140 Facility &Fleet Maintenar 21,700 19,500 19,500 14,625 19,500 0 0%
69 - Internal Service Charges Totals: 99,900 117,700 117,700 88,275 117,700 0 00/0
1002 - Wellness Center Operations Totals: 717,948 837,870 837,870 733,658 683,600 (154,270) -20%
27
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 3002 - Wellness Center Operations
101-3002-50101 Permanent Full Time 233,300.00
40% - Community Services Deputy Director (40% Community
Services Administration, 20% Library & Museum Fund)
100% - Sr. Community Services Specialist
100% - Community Services Specialist
101-3002-50102 Salaries - Part Time 82,500.00
50% Senior Recreation Leader (2) (50% Recreation Programs
& Special Events)
50% Recreation Leader (8) (50% Recreation Programs &
Special Events)
101-3002-60103 Professional Services 5,000.00
Retired senior volunteer program, annual volunteer
sponsorships to Watercolors of La Quinta, Boys & Girls Club of
La Quinta, and the California Highway Patrol
101-3002-60107 Instructors 30,000.00
Instructors for fitness classes and programming
101-3002-60108 Technical 1,000.00
Annual sponsorship for the Riverside County Senior Inspiration
Awards
101-3002-60157 Rental Expense 3,000.00
General insurances and security guards for facility rentals
101-3002-60320 Travel & Training 1,000.00
28
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Park and recreational activity program training and certification
101-3002-60351 Membership Dues 5,000.00
Amount
Motion Picture Licensinq Corporation (MPLC) 500
National Council on Aqinq (NCOA) 100
TechnoGym apps 4,400
101-3002-60352 Subscriptions & Publications 2,400.00
Amount
Desert Sun newspaper 1,600
Wellness publications 800
101-3002-80101 Machinery & Equipment 25,000.00
Purchase of new weighted and stretch fitness equipment, and
related accessories for Wellness Center
29
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
3003 - Recreation Programs & Special Eve
50 - Salaries and Benefits
101-3003-50101
Permanent Full Time
47,781
78,800
78,800
105,741
317,400
238,600
413%
101-3003-50102
Salaries - Part Time
34,970
71,250
71,250
23,314
82,500
11,250
11%
101-3003-50105
Salaries - Overtime
0
1,000
1,000
20
5,000
4,000
0%
101-3003-50200
PERS-City Portion
9,054
17,100
17,100
10,863
32,700
15,600
154%
101-3003-50215
Other Fringe Benefits
1,300
1,300
1,300
2,150
6,500
5,200
416%
101-3003-50221
Medical Insurance
30,020
24,000
24,000
26,018
136,300
112,300
342%
101-3003-50222
Vision Insurance
430
0
0
312
0
0
0%
101-3003-50223
Dental Insurance
3,109
0
0
2,100
0
0
0%
101-3003-50224
Life Insurance
58
0
0
116
0
0
0%
101-3003-50225
Long Term Disability
298
1,000
1,000
659
2,000
1,000
250%
101-3003-50230
Workers Comp Insurance
2,100
4,800
4,800
3,600
4,800
0
0%
101-3003-50240
Social Security -Medicare
2,174
8,500
8,500
2,163
11,400
2,900
25%
101-3003-50241
Social Security -FICA
1,787
0
0
350
0
0
0%
101-3003-50251
Temporary
67,243
0
0
19,502
0
0
0%
50 - Salaries and Benefits Totals:
200,323
207,750
207,750
196,908
598,600
390,850
136%
60 - Contract Services
101-3003-60107 Instructors
101-3003-60184 Fritz Burns Pool Programi
101-3003-60190 X Park Programming
60 - Contract Services Totals:
62 - Maintenance & Operations
101-3003-60149
Community Experiences
101-3003-60157
Rental Expense
101-3003-60320
Travel & Training
101-3003-60351
Membership Dues
101-3003-60420
Operating Supplies
101-3003-60512
LQ Art Event
62 - Maintenance
& Operations Totals
(2,070) 0 0 (17,940) 0 0 0%
191,225 220,000 220,000 121,687 245,000 25,000 13%
285,388 420,000 420,000 404,078 420,000 0 0%
474,543 640,000 640,000 507,825 665,000 25,000 50/0
375,280
580,000
580,000
270,390
580,000
0
0%
81
5,000
5,000
174
5,000
0
0%
0
1,000
1,000
20
1,000
0
0%
0
0
0
0
2,000
2,000
400%
1,182
6,000
6,000
2,874
6,000
0
0%
3,121
90,000
90,000
6,500
50,000
(40,000)
-44%
379,664 682,000 682,000 279,957 644,000 (38,000) -60/o
69 - Internal Service Charges
101-3003-98110 Information Tech Charge 23,000 28,900 28,900 21,675 28,900 0 0%
101-3003-98140 Facility & Fleet Maintenar 21,700 19,500 19,500 14,625 19,500 0 0%
69 - Internal Service Charges Totals: 44,700 48,400 48,400 36,300 48,400 0 0%
reation Programs & Special Events Totals: 1,099,230 1,578,150 1,578,150 1,020,990 1,956,000 377,850 25%
30
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 3003 - Recreation Programs & Special Events
101-3003-50101 Permanent Full Time 317,400.00
100% - Administrative Technician (5)
101-3003-50102 Salaries - Part Time 82,500.00
50% Senior Recreation Leader (2) (50% Wellness Center
Operations)
50% Recreation Leader (8) (50% Wellness Center Operations)
101-3003-60149
Community Experiences 580,000.00
Anticipated events include 9/11 Vigil, Veteran's Day
Celebration, Tree Lighting, Ironman, City Picnic, Art on Main,
Summer Golf, Mission LQ Rocket Launch, Pillars of the
Community, Egg Hunt, Concerts in the Park, and other commu
101-3003-60157
Rental Expense 5,000.00
Special event insurances and security guards for events
101-3003-60184
Fritz Burns Pool Programming 245,000.00
Pool operating contract services
101-3003-60320
Travel & Training 1,000.00
Park and recreation program training and certifications
101-3003-60351
Membership Dues 2,000.00
Americans for Art
California Parks and Recreation Society (CPRS)
31
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23 2023/24 2023/24 2023/24 2024/25 24/25 vs. % Change
Actuals Original Budget Current Budget YTD Activity* Proposed Budget Current 23/24 in Budget
2001 - Police
60 - Contract Services
101-2001-60103 Professional Services
101-2001-60109 LQ Police Volunteers
101-2001-60161 Sheriff Patrol
101-2001-60162 Police Overtime
101-2001-60163 Target Team
101-2001-60164 Community Services Offii
101-2001-60165 Special Enforcement/City
101-2001-60166 Gang Task Force
101-2001-60167 Narcotics Task Force
101-2001-60168 School Officer
101-2001-60169 Motor Officer
101-2001-60170 Dedicated Sargeants
101-2001-60171 Dedicated Lieutenant
101-2001-60172 Sheriff - Mileage
101-2001-60173 Booking Fees
101-2001-60174 Blood/Alcohol Testing
101-2001-60175 Special Enforcement Funi
101-2001-60176 Sheriff - Other
101-2001-60193 Sexual Assault Exam Fee
60 - Contract Services Totals:
27,835
50,000
50,000
0
0
(50,000)
-100%
7,076
12,000
12,000
6,997
12,000
0
0%
8,997,669
10,230,000
10,230,000
5,658,091
10,600,000
370,000
4%
305,816
400,000
400,000
328,655
400,000
0
0%
1,773,066
1,927,000
1,927,000
1,183,776
2,025,000
98,000
5%
750,961
805,000
805,000
531,505
850,000
45,000
5%
104,099
100,000
100,000
1,807
100,000
0
0%
221,883
231,000
231,000
152,210
245,000
14,000
7%
208,056
231,000
231,000
141,491
245,000
14,000
7%
180,334
240,000
240,000
79,879
280,000
40,000
17%
1,617,054
1,940,000
1,940,000
988,710
2,400,000
460,000
24%
560,823
615,000
615,000
396,528
650,000
35,000
6%
331,448
343,000
343,000
220,859
360,000
17,000
5%
425,455
450,000
450,000
298,195
450,000
0
0%
0
0
0
0
0
0
0%
33,052
36,000
36,000
21,811
38,000
2,000
7%
76,191
95,000
113,500
30,361
113,500
0
0%
449,822
587,000
587,000
47,097
680,000
93,000
17%
6,400
10,000
10,000
6,862
10,500
500
6%
16,077,040
18,302,000
18,320,500
10,094,835
19,459,000
1,138,500
6%
62 - Maintenance & Operations
101-2001-60320 Travel & Training 1,350 5,000 5,000 39 5,000 0 0%
101-2001-60420 Operating Supplies 6,339 10,000 10,000 3,394 10,000 0 0%
62 - Maintenance & Operations Totals: 7,689 15,000 15,000 3,433 15,000 0 00/0
65 - Repair & Maintenance
101-2001-60692 Public Safety Camera Sys 60,540 172,500 172,500 151,513 I 40,000 (132,500) -217%
65 - Repair & Maintenance Totals: 60,540 172,500 172,500 151,513 40,000 (132,500) -217%
66 - Utilities
101-2001-61300 Telephone - Utilities 11,046 17,000 17,000 8,008 17,000 0 0%
101-2001-61400 Cable/Internet -Utilities 6,778 9,000 9,000 5,341 9,000 0 0%
66 - Utilities Totals: 17,823 26,000 26,000 13,348 26,000 0 00/0
68 - Capital Expenses
101-2001-71031 Vehicles 6,519 0 16,000 65,435 I 35,000 19,000 83%
68 - Capital Expenses Totals: 6,519 0 16,000 65,435 35,000 19,000 83%
69 - Internal Service Charges
101-2001-98110 Information Tech Charge 10,000 10,000 10,000 7,500 10,000 0 0%
101-2001-98140 Facility &Fleet Maintenar 64,900 58,300 58,300 43,725 58,300 0 0%
69 - Internal Service Charges Totals: 74,900 68,300 68,300 51,225 68,300 0 00/0
2001 - Police Totals: 16,244,512 18,583,800 18,618,300 10,379,789 19,643,300 1,025,000 6%
32
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 2001 - Police
101-2001-60161 Sheriff Patrol 10,600,000.00
101-2001-60320
Increases for Police services in FY 2024/25 are attributed to
rising labor and pension costs. Daily patrol hours (130) and
service levels are incorporated. The contract funds the
following positions: 1 Lieutenant, 2 Sergeants, 3 Motor Traffic
Officers, 2 Traffic Officers, 5 Special Enforcement Team
Officers, 2 Deputy Sheriff Officers, and 6 Community Service Of
Travel & Training
5,000.00
Crime prevention officers will provide training to the Citizens on
Patrol.
101-2001-71031 Vehicles 35,000.00
Motorcycle replacement
33
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
2002 - Fire
50 - Salaries and Benefits
101-2002-50101
Permanent Full Time
142,625
118,200
118,200
69,331
178,300
60,100
30%
101-2002-50105
Salaries - Overtime
437
4,000
4,000
845
4,000
0
0%
101-2002-50150
Other Compensation
96
100
100
246
100
0
0%
101-2002-50200
PERS-City Portion
9,444
9,100
9,100
5,965
14,000
4,900
33%
101-2002-50215
Other Fringe Benefits
1,820
1,820
1,820
1,065
3,510
1,690
97%
101-2002-50221
Medical Insurance
33,426
33,500
33,500
15,335
52,100
18,600
29%
101-2002-50222
Vision Insurance
197
0
0
163
0
0
0%
101-2002-50223
Dental Insurance
1,158
0
0
648
0
0
0%
101-2002-50224
Life Insurance
135
0
0
54
0
0
0%
101-2002-50225
Long Term Disability
785
800
800
431
1,200
400
16%
101-2002-50230
Workers Comp Insurance
5,400
6,700
6,700
5,025
6,700
0
0%
101-2002-50240
Social Security -Medicare
2,220
1,800
1,800
1,160
2,600
800
28%
101-2002-50251
Temporary
74
0
0
9,035
0
0
0%
50 - Salaries and Benefits Totals:
197,817
176,020
176,020
109,304
262,510
86,490
30%
60 - Contract Services
101-2002-60103
Professional Services
0
15,000
15,000
10,769
101-2002-60110
Volunteers - Fire
1,169
4,000
4,000
895
101-2002-60112
Landscape Contract
18,120
24,000
24,000
14,544
101-2002-60116
Pest Control
4,024
10,000
10,000
4,024
101-2002-60123
Security & Alarm
2,205
4,000
4,000
2,219
101-2002-60125
Temporary Agency Servii
30,657
0
0
0
101-2002-60139
Fire Service Costs
6,641,950
8,700,000
8,700,000
3,928,403
101-2002-60140
MOU - Ladder Truck
282,694
300,000
300,000
143,285
101-2002-60525
Golf Tournament
52,980
80,000
80,000
57,838
60
- Contract Services Totals:
7,033,798
9,137,000
9,137,000
4,161,977
15,000
0
0%
4,000
0
0%
35,000
11,000
58%
10,000
0
0%
4,000
0
0%
0
0
0%
9,170,000
470,000
6%
300,000
0
0%
80,000
0
0%
9,618,000
481,000
6%
62 - Maintenance & Operations
101-2002-60320 Travel & Training
479
4,000
4,000
210
4,000
0
0%
101-2002-60351 Membership Dues
1,060
1,200
1,200
1,171
1,200
0
0%
101-2002-60400 Office Supplies
1,006
1,000
1,000
721
1,000
0
0%
101-2002-60406 Disaster Prep Supplies
6,149
8,000
8,000
12,418
48,500
40,500
675%
101-2002-60410 Printing
102
800
800
0
800
0
0%
101-2002-60431 Materials/Supplies
0
20,000
20,000
0
20,000
0
0%
101-2002-60445 Non -Reimbursable Misc
18,648
20,000
20,000
0
20,000
0
0%
101-2002-60545 Small Tools & Equipment
58
2,500
2,500
0
2,500
0
0%
101-2002-60670 Fire Station
5,768
40,000
40,000
16,669
40,000
0
0%
101-2002-60671 Repair & Maintenance - E
143
10,000
10,000
164
30,000
20,000
400%
101-2002-60691 Maintenance/Services
89,287
60,000
60,000
32,697
65,000
5,000
8%
62 - Maintenance & Operations Totals:
122,699
167,500
167,500
64,051
233,000
65,500
44%
64 - Other Expenses
101-2002-60195 Natural Disaster/EOC Act
0
0
0
1,347 I
0
0
0%
64 - Other Expenses Totals:
0
0
0
1,347
0
0
00/0
34
CITY OF LA QUINTA GENERAL FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
66 - Utilities
101-2002-61100
Gas - Utilities
3,287
6,000
6,000
2,625
6,000
0
0%
101-2002-61101
Electricity - Utilities
30,326
43,000
43,000
30,361
48,000
5,000
17%
101-2002-61200
Water - Utilities
11,788
16,000
16,000
8,451
16,000
0
0%
101-2002-61300
Telephone - Utilities
24,542
45,000
45,000
16,191
45,000
0
0%
101-2002-61304
Mobile/Cell Phones/Satell
7,514
10,000
10,000
5,832
10,000
0
0%
101-2002-61400
Cable/Internet - Utilities
6,754
14,000
14,000
5,429
14,000
0
0%
66 - Utilities Totals:
84,211 134,000 134,000 68,889 139,000 5,000 6%
68 - Capital Expenses
101-2002-71021 Furniture
0
5,000
5,000
0
5,000
0
0%
101-2002-71031 Vehicles
35,241
0
0
0
0
0
0%
101-2002-72110 Building Improvements
0
10,000
10,000
0
30,000
20,000
200%
101-2002-80101 Machinery & Equipment
41,773
100,000
458,000
13,908
100,000
(358,000)
-90%
68 - Capital Expenses Totals:
77,014
115,000
473,000
13,908
135,000
(338,000)
-74%
69 - Internal Service Charges
101-2002-91843 Property & Crime Insurar
5,800
6,000
6,000
4,500
6,000
0
0%
101-2002-91844 Earthquake Insurance
14,000
16,000
16,000
12,000
16,000
0
0%
101-2002-98110 Information Tech Charge
58,700
40,500
40,500
30,375
40,500
0
0%
101-2002-98140 Facility & Fleet Maintenar
108,100
97,100
97,100
72,825
97,100
0
0%
69 - Internal Service Charges Totals:
186,600
159,600
159,600
119,700
159,600
0
00/0
2002 - Fire Totals: 7,702,139 9,889,120 10,247,120 4,539,176 10,547,110 299,990 3%
35
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 2002 - Fire
101-2002-50101 Permanent Full Time 178,300.00
20% - Public Safety Director (80% Public Safety Admin)
100% - Management Analyst
50% - Administrative Technician (50% Public Safety Admin)
20% - Administrative Technician (80% Code Compliance)
101-2002-60103 Professional Services 15,000.00
Public safety announcements and Nixle contract
101-2002-60112 Landscape Contract 35,000.00
Landscaping maintenance services for all three fire stations
101-2002-60139 Fire Service Costs 9,170,000.00
Increases in Fire Services in FY 2024/25 are attributed to rising
labor and pension costs, the addition of a dedicated Fire Safety
Supervisor (2023), and conversion to dedicated municipal
staffing at FS #93 (2023). Services are contracted with
Riverside County and include the following: Captains, Medic
Engineesr, Engineers, Fire Fighter II/Medic, Fire Fighter II, Fire
Safety Specialist, Fire Systems Inspector, Fire Safety
Supervisor, Overhead/Administration & Direct Operating
Fxnenses_ Merdir Hnit nneratinn Costs and Fire Fnnine Charnel
101-2002-60320 Travel & Training 4,000.00
Emergency preparedness citywide training
National Emergency Management Academy
101-2002-60351 Membership Dues 1,200.00
36
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Journal of Emergency Management (JEM) subscription
International Association of Emergency Managers (IAEM)
101-2002-60410 Printing 800.00
Update Emergency Operations Center forms
101-2002-60691 Maintenance/Services 65,000.00
Painting plus regular annual maintenance for each station
101-2002-71021 Furniture
5,000.00
Emergency Operations Center tables, chairs, and desks
101-2002-80101 Machinery & Equipment 100,000.00
37
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
6004 - Code Compliance/Animal Control
50 - Salaries and Benefits
101-6004-50101
Permanent Full Time
539,647
526,000
526,000
371,643
537,300
11,300
2%
101-6004-50105
Salaries - Overtime
10,046
15,000
15,000
32,477
15,000
0
0%
101-6004-50106
Standby
100
500
500
0
500
0
0%
101-6004-50150
Other Compensation
0
0
0
0
0
0
0%
101-6004-50200
PERS-City Portion
50,542
51,200
51,200
39,679
51,300
100
0%
101-6004-50215
Other Fringe Benefits
10,140
10,040
10,040
6,820
10,040
0
0%
101-6004-50221
Medical Insurance
140,702
162,600
162,600
113,054
185,400
22,800
12%
101-6004-50222
Vision Insurance
1,351
0
0
1,002
0
0
0%
101-6004-50223
Dental Insurance
5,851
0
0
4,488
0
0
0%
101-6004-50224
Life Insurance
479
0
0
340
0
0
0%
101-6004-50225
Long Term Disability
3,354
3,400
3,400
2,319
3,500
100
3%
101-6004-50230
Workers Comp Insurance
16,300
37,200
37,200
27,900
37,200
0
0%
101-6004-50240
Social Security -Medicare
7,983
8,500
8,500
6,234
7,800
(700)
-9%
101-6004-50251
Temporary
0
0
0
24,880
20,000
20,000
0%
50 - Salaries and Benefits Totals:
786,495
814,440
814,440
630,836
868,040
53,600
6%
60 - Contract Services
101-6004-60103
Professional Services
101-6004-60108
Technical
101-6004-60111
Administrative Citation Si
101-6004-60119
Vehicle Abatement
101-6004-60120
Lot Cleaning/Gravel Prog
101-6004-60122
Credit Card Fees
101-6004-60125
Temporary Agency Servi
101-6004-60194
Veterinary Service
101-6004-60197
Animal Shelter Contract `.
60
- Contract Services Totals:
62 - Maintenance & Operations
101-6004-60121
Low -Income Housing Gra
101-6004-60320
Travel & Training
101-6004-60351
Membership Dues
101-6004-60400
Office Supplies
101-6004-60410
Printing
101-6004-60425
Supplies - Field
101-6004-60690
Uniforms
62 - Maintenance
& Operations Totals:
69 - Internal Service Charges
101-6004-98110 Information Tech Charge
101-6004-98140 Facility & Fleet Maintenar
69 - Internal Service Charges Totals:
53,525
70,000
70,000
42,296
300
1,000
1,000
277
14,961
18,000
18,000
9,904
0
500
500
0
4,575
20,000
20,000
3,023
1,121
2,000
2,000
585
29
0
0
6,935
70,000
0
0%
1,000
0
0%
25,000
7,000
39%
500
0
0%
20,000
0
0%
2,000
0
0%
0
0
0%
7,000 12,000 12,000 0 15,000 3,000 25%
340,289 370,000 370,000 215,415 407,000 37,000 12%
421,802 493,500 493,500 278,435 540,500 47,000 110/0
0
1,000
1,000
0
1,000
0
0%
4,543
7,000
7,000
3,385
7,000
0
0%
500
800
800
700
1,200
400
50%
2,676
2,500
2,500
869
2,500
0
0%
51
6,000
6,000
35
6,000
0
0%
1,277
2,000
2,000
425
9,000
7,000
233%
2,264
5,500
5,500
1,416
5,500
0
0%
11,310
24,800
24,800
6,829
32,200
7,400
30%
179,300 225,200 225,200 168,900
172,900 155,400 155,400 116,550
225,200 0 0%
155,400 0 0%
352,200 380,600 380,600 285,450 380,600 0 0%
- Code Compliance/Animal Control Totals: 1,571,807 1,713,340 1,713,340 1,201,551 1,821,340 108,000 6%
38
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 6004 - Code Compliance/Animal Control
101-6004-50101 Permanent Full Time
537,300.00
100% - Animal Control/Code Compliance Supervisor
100% - Sr. Code Compliance Officer (3)
100% - Code Compliance Officer (2)
80% - Administrative Technician (20% Fire)
101-6004-60103
Professional Services
70,000.00
Short-term vacation rental compliance
101-6004-60108
Technical
1,000.00
Riverside County recording fees for liens
101-6004-60111
Administrative Citation Service
25,000.00
Data ticket processing of code compliance and
police citations
101-6004-60320
Travel & Training
7,000.00
Code Enforcement officer training events
101-6004-60351
Membership Dues
1,200.00
CA Association of Code Enforcement Officers (CACEO)
101-6004-60410
Printing
6,000.00
Community educational outreach
39
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
6005 - Public Safety Administration
50 - Salaries and Benefits
101-6005-50101
Permanent Full Time
0
193,600
193,600
22,808
151,000
(42,600)
0%
101-6005-50105
Salaries - Overtime
0
0
0
845
0
0
0%
101-6005-50150
Other Compensation
0
0
0
170
0
0
0%
101-6005-50200
PERS-City Portion
0
14,900
14,900
2,402
11,900
(3,000)
0%
101-6005-50215
Other Fringe Benefits
0
0
0
525
1,690
1,690
0%
101-6005-50221
Medical Insurance
0
43,100
43,100
6,724
35,500
(7,600)
0%
101-6005-50222
Vision Insurance
0
0
0
33
0
0
0%
101-6005-50223
Dental Insurance
0
0
0
221
0
0
0%
101-6005-50224
Life Insurance
0
0
0
26
0
0
0%
101-6005-50225
Long Term Disability
0
1,300
1,300
141
1,000
(300)
0%
101-6005-50230
Workers Comp Insurance
0
8,600
8,600
6,450
8,600
0
0%
101-6005-50240
Social Security -Medicare
0
2,800
2,800
478
2,200
(600)
0%
101-6005-50251
Temporary
0
0
0
9,035
0
0
0%
50 - Salaries and Benefits Totals:
0
264,300
264,300
49,858
211,890
(52,410)
00/0
62 - Maintenance & Operations
101-6005-60320 Travel & Training
0
5,000
5,000
0
5,000
0
0%
101-6005-60400 Office Supplies
0
1,000
1,000
0
1,000
0
0%
101-6005-60406 Disaster Prep Supplies
0
0
0
9,516
0
0
0%
62 - Maintenance & Operations Totals:
0
6,000
6,000
9,516
6,000
0
00/0
69 - Internal Service Charges
101-6005-98110 Information Tech Charge
0
52,000
52,000
39,000 I
52,000
0
0%
69 - Internal Service Charges Totals:
0
52,000
52,000
39,000
52,000
0
00/0
6005 - Public Safety Administration Totals: 0 322,300 322,300 98,373 269,890 (52,410) 0%
40
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 6005 - Public Safety Administration
101-6005-50101 = Permanent Full Time
151,000.00
80% - Public Safety Director (20% Fire Fund)
50% - Administrative Technician (50% Fire Fund)
101-6005-60320 Travel & Training
5,000.00
41
CITY OF LA QUINTA
2022/23
Actuals
GENERAL FUND EXPENSE DETAILS
2023/24 2023/24
Original Budget Current Budget
2023/24
YTD Activity*
FY 2024/25 PROPOSED BUDGET
2024/25 24/25 vs. % Change
Proposed Budget Current 23/24 in Budget
3005 - Parks Maintenance
50 - Salaries and Benefits
101-3005-50101
Permanent Full Time
256,858
278,700
278,700
203,062
299,400
20,700
8%
101-3005-50105
Salaries - Overtime
386
700
700
2,161
700
0
0%
101-3005-50106
Standby
13,058
15,000
15,000
8,482
15,000
0
0%
101-3005-50107
Standby Overtime
37,908
35,000
35,000
42,437
35,000
0
0%
101-3005-50150
Other Compensation
0
0
0
190
0
0
0%
101-3005-50200
PERS-City Portion
20,005
23,000
23,000
17,338
26,100
3,100
15%
101-3005-50215
Other Fringe Benefits
5,500
4,550
4,550
3,666
4,550
0
0%
101-3005-50221
Medical Insurance
66,621
83,700
83,700
58,107
81,800
(1,900)
-2%
101-3005-50222
Vision Insurance
640
0
0
509
0
0
0%
101-3005-50223
Dental Insurance
3,363
0
0
2,634
0
0
0%
101-3005-50224
Life Insurance
249
0
0
184
0
0
0%
101-3005-50225
Long Term Disability
1,536
1,800
1,800
1,248
1,800
0
0%
101-3005-50230
Workers Comp Insurance
7,300
16,700
16,700
12,525
16,700
0
0%
101-3005-50240
Social Security -Medicare
4,705
4,100
4,100
3,990
4,000
(100)
-3%
101-3005-50241
Social Security -FICA
0
0
0
1,056
0
0
0%
101-3005-50251
Temporary
0
0
0
17,009
0
0
0%
50 - Salaries and Benefits Totals:
418,129
463,250
463,250
374,600
485,050
21,800
5%
60 - Contract Services
101-3005-60112 Landscape Contract 729,648 935,000 935,000 678,194 I 1,200,000 265,000 36%
60 - Contract Services Totals: 729,648 935,000 935,000 678,194 1,200,000 265,000 36%
62 - Maintenance & Operations
101-3005-60117
Civic Center Lake Maintei
17,283
20,000
20,000
14,672
30,000
10,000
57%
101-3005-60136
Lighting Service
475
1,000
1,000
475
1,000
0
0%
101-3005-60184
Fritz Burns Pool Maintena
144,972
180,000
180,000
106,066
180,000
0
0%
101-3005-60189
SilverRock Lake Maintenz
16,875
17,400
17,400
15,160
20,000
2,600
15%
101-3005-60320
Travel & Training
1,800
5,000
5,000
4,859
5,000
0
0%
101-3005-60351
Membership Dues
595
1,000
1,000
890
1,000
0
0%
101-3005-60400
Office Supplies
617
1,000
1,000
297
1,000
0
0%
101-3005-60423
Supplies -Graffiti and Van
2,922
15,000
15,000
1,203
15,000
0
0%
101-3005-60427
Safety Gear
942
1,200
1,200
958
1,300
100
8%
101-3005-60431
Materials/Supplies
235,116
310,000
384,500
204,647
400,000
15,500
5%
101-3005-60432
Tools/Equipment
8,248
5,000
5,000
5,851
6,000
1,000
20%
101-3005-60554
LQ Park Water Feature
14,347
30,000
30,000
13,643
40,000
10,000
45%
101-3005-60557
Tree Maintenance
1,120
10,000
10,000
4,200
10,000
0
0%
101-3005-60690
Uniforms
1,919
3,000
3,000
1,990
5,000
2,000
67%
101-3005-60691
Maintenance/Services
355,784
385,000
385,000
526,969
450,000
65,000
21%
62 - Maintenance
& Operations Totals:
803,016
984,600
1,059,100
901,880
1,165,300
106,200
13%
66 - Utilities
101-3005-61100
Gas -Utilities FB Pool
44,247
0
0
134
0
0
0%
101-3005-61102
Electric - Monticello Park
161
300
300
123
300
0
0%
101-3005-61103
Electric - Civic Center Par
38,118
31,000
31,000
41,142
40,000
9,000
30%
101-3005-61104
Electric - Pioneer Park - l
0
100
100
0
100
0
0%
101-3005-61105
Electric - Fritz Burns Park
17,605
15,000
15,000
15,289
17,000
2,000
13%
42
CITY OF LA QUINTA
101-3005-61106
Electric - Sports Complex
101-3005-61108
Electric - Colonel Paige -
101-3005-61109
Electric - Community Par
101-3005-61110
Electric - Adams Park - U
101-3005-61111
Electric - Velasco Park - l
101-3005-61113
Electric - Eisenhower Parl
101-3005-61114
Electric - Desert Pride - L
101-3005-61115
Electric - SilverRock Ever
101-3005-61116
Electric - XPark Complex
101-3005-61201
Water -Monticello Park -
101-3005-61202
Water - Civic Center Park
101-3005-61203
Water -Eisenhower Park
101-3005-61204
Water -Fritz Burns Park -
101-3005-61205
Water -Velasco Park - Uti
101-3005-61206
Water -Desert Pride - Uti
101-3005-61207
Water -Pioneer Park - Uti
101-3005-61208
Water -Seasons Park - Ui
101-3005-61209
Water -Community Park
101-3005-61211
Water - SilverRock Event
101-3005-61212
Water - XPark Complex
101-3005-61300
Telephone - Utilities
66 - Utilities Totals:
GENERAL FUND EXPENSE DETAILS
2022/23 2023/24 2023/24
43,753
5,407
89,848
475
168
228
160
40,673
0
26,671
33,029
2,369
26,491
2,348
8,850
7,430
326
63,617
0
0
1,128
42,000
5,500
72,000
700
250
350
300
32,000
30,000
30,000
40,000
2,600
28,000
2,400
9,000
15,000
600
80,000
55,000
12,500
1,000
42,000
5,500
72,000
700
250
350
300
32,000
30,000
30,000
40,000
2,600
28,000
2,400
9,000
15,000
600
80,000
55,000
12,500
1,000
2023/24
Activity*
44,132
4,242
86,475
454
129
177
121
22,733
0
19,155
30,973
2,276
23,768
1,800
12,014
11,366
280
73,304
0
0
882
FY 2024/25 PROPOSED BUDGET
2024/25 24/25 vs. % Change
d Budget Current 23/24 in Budget
46,000
4,000
10%
6,000
500
10%
84,000
12,000
17%
900
200
29%
300
50
25%
400
50
14%
350
50
20%
32,000
0
0%
30,000
0
0%
30,000
0
0%
40,000
0
0%
3,000
400
16%
28,000
0
0%
2,500
100
5%
14,000
5,000
63%
15,000
0
0%
600
0
0%
90,000
10,000
13%
55,000
0
0%
6,000
(6,500)
-52%
1,000
0
0%
453,101 505,600 505,600 390,968 542,450 36,850 7%
69 - Internal Service Charges
101-3005-98110 Information Tech Charge
80,500
101,100
101,100
75,825
101,100
0 0%
101-3005-98130 Park Equipment Maintena
450,000
1,000,000
1,000,000
750,000
1,000,000
0 0%
101-3005-98140 Facility & Fleet Maintenar
172,900
155,400
155,400
116,550
155,400
0 0%
69 - Internal Service Charges Totals:
703,400
1,256,500
1,256,500
942,375
1,256,500
0 00/0
3005 - Parks Maintenance Totals: 3,107,294 4,144,950 4,219,450 3,288,017 4,649,300 429,850 13%
43
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 3005 - Parks Maintenance
101-3005-50101 Permanent Full Time 299,400.00
50% - Maintenance & Operations Deputy Director (50% Public
Buildings)
50% - Maintenance & Operations Superintendentt (50%
Lighting & Landscape Fund)
50% - Maintenance & Operations Crew Lead (50% Lighting &
Landscape Fund)
50% - Sr. Maintenance & Operations Worker (50% Lighting &
Landscape Fund
50% - Maintenance & Operations Worker- 3 (50% Lighting &
Landscape Fund
101-3005-60112 Landscape Contract 1,200,000.00
Landscape contract services for all City Parks including the
SilverRock event site and X-Park
101-3005-60184 Fritz Burns Pool Maintenance 180,000.00
Pool maintenance services
101-3005-60320 Travel & Training 5,000.00
Aquatic facility operator course
Maintenance agreement school
Playground certifications
101-3005-60351 Membership Dues 1,000.00
CA Parks & Recreation Association (CPRS)
National Park & Recreation Association (NPRA)
Amount
500
500
44
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
101-3005-60691
Maintenance/Services
450,000.00
Landscape renovations, electrical and fence repairs, painting,
tree removal and other landscape related maintenance and rep
101-3005-98130 Park Equipment Maintenance 1,000,000.00
Funds are transferred to the Park Equipment & Facility Internal
Service Fund for park equipment replacements
45
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
3008 - Public Buildings
50 - Salaries and Benefits
101-3008-50101
Permanent Full Time
378,588
471,600
471,600
327,600
480,100
8,500
2%
101-3008-50105
Salaries - Overtime
94
500
500
1,697
500
0
0%
101-3008-50106
Standby
13,843
15,000
15,000
11,505
15,000
0
0%
101-3008-50107
Standby Overtime
18,120
20,000
20,000
16,293
20,000
0
0%
101-3008-50150
Other Compensation
481
500
500
380
500
0
0%
101-3008-50200
PERS-City Portion
32,514
43,500
43,500
30,543
45,200
1,700
5%
101-3008-50215
Other Fringe Benefits
5,850
7,150
7,150
4,725
5,850
(1,300)
-23%
101-3008-50221
Medical Insurance
84,738
83,700
83,700
73,978
122,700
39,000
35%
101-3008-50222
Vision Insurance
1,208
0
0
973
0
0
0%
101-3008-50223
Dental Insurance
4,412
0
0
3,170
0
0
0%
101-3008-50224
Life Insurance
298
0
0
235
0
0
0%
101-3008-50225
Long Term Disability
2,337
3,000
3,000
2,025
3,100
100
5%
101-3008-50230
Workers Comp Insurance
9,400
26,200
26,200
19,650
26,200
0
0%
101-3008-50240
Social Security -Medicare
6,001
6,900
6,900
5,218
6,900
0
0%
50 - Salaries and Benefits Totals:
557,885
678,050
678,050
497,991
726,050
48,000
8%
60 - Contract Services
101-3008-60115 Janitorial
101-3008-60116 Pest Control
101-3008-60123 Security & Alarm
101-3008-60196 Annual Permits/Inspectio
60 - Contract Services Totals:
187,041
250,000
250,000
147,710
250,000
0 0%
7,519
9,500
9,500
6,860
9,500
0 0%
7,395
12,000
12,000
6,374
12,000
0 0%
6,375
8,000
8,000
6,508
8,000
0 0%
208,330 279,500 279,500 167,452 279,500 0 00/0
62 - Maintenance & Operations
101-3008-60320 Travel & Training
2,225
2,000
2,000
102
2,000
0
0%
101-3008-60400 Office Supplies
0
0
0
396
0
0
0%
101-3008-60427 Safety Gear
628
1,200
1,200
1,054
1,200
0
0%
101-3008-60431 Materials/Supplies
61,947
50,000
50,000
23,010
50,000
0
0%
101-3008-60432 Tools/Equipment
10,443
8,000
8,000
9,384
10,000
2,000
15%
101-3008-60481 Office Supplies
381
500
500
0
500
0
0%
101-3008-60667 HVAC
90,434
100,000
100,000
75,617
180,000
80,000
80%
101-3008-60690 Uniforms
1,733
2,000
2,000
1,890
2,000
0
0%
101-3008-60691 Maintenance/Services
88,550
90,000
90,000
53,849
120,000
30,000
32%
101-3008-61702 Facility Rent
907
0
0
0
0
0
0%
62 - Maintenance & Operations Totals:
257,246
253,700
253,700
165,301
365,700
112,000
41%
66 - Utilities
101-3008-61100
Gas - Utilities
13,562
13,000
13,000
4,969
13,000
0 0%
101-3008-61101
Electricity - Utilities
200,009
180,000
180,000
184,675
180,000
0 0%
101-3008-61200
Water - Utilities
10,016
10,000
10,000
8,215
10,000
0 0%
66 - Utilities Totals:
223,587
203,000
203,000
197,859
203,000
0 0%
69 - Internal Service Charges
101-3008-91842 Liability Insurance & Claii 67,000 65,000 65,000 48,750 65,000 0 0%
101-3008-98110 Information Tech Charge 103,500 158,800 158,800 119,100 158,800 0 0%
46
CITY OF LA QUINTA GENERAL FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Pro osed Budget
Current 23 24
in Budqet
101-3008-98140 Facility & Fleet Maintenar 86,500
77,700
77,700
58,275
77,700
0
0%
69 - Internal Service Charges Totals: 257,000
301,500
301,500
226,125
301,500
0
00/0
3008 - Public Buildings Totals: 1,504,048 1,715,750 1,715,750 1,254,728 1,875,750 160,000 100/0
47
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 3008 - Public Buildings
101-3008-50101 Permanent Full Time 480,100.00
50% - Maintenance & Operations Deputy Director (50% Parks
Maintenance)
100% - Maintenance & Operations Superintendent
100% - Maintenance & Operations Coordinator
100% - Maintenance & Operations Technician
100% - Maintenance & Operations Worker
101-3008-60115 Janitorial 250,000.00
Janitorial services for all public buildings including parks
101-3008-60320 Travel & Training 2,000.00
HVAC training
101-3008-60667 HVAC 180,000.00
For all public buildings including City Hall, Fritz Burns Pool, La
Quinta Park, Maintenance Yard, Public Works Office, Sports
Complex, and Wellness Center.
101-3008-60691 Maintenance/Services 120,000.00
Public building repairs and maintenance
48
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
7001 - Public Works Administration
50 - Salaries and Benefits
101-7001-50101
Permanent Full Time
394,977
423,300
423,300
350,379
433,497
10,197
3%
101-7001-50150
Other Compensation
1,506
500
500
380
500
0
0%
101-7001-50200
PERS-City Portion
37,962
44,700
44,700
35,400
45,000
300
1%
101-7001-50215
Other Fringe Benefits
5,200
5,200
5,200
4,150
5,200
0
0%
101-7001-50221
Medical Insurance
66,768
95,700
95,700
57,569
96,000
300
0%
101-7001-50222
Vision Insurance
910
0
0
730
0
0
0%
101-7001-50223
Dental Insurance
3,237
0
0
2,555
0
0
0%
101-7001-50224
Life Insurance
265
0
0
204
0
0
0%
101-7001-50225
Long Term Disability
2,430
2,700
2,700
2,041
2,800
100
5%
101-7001-50230
Workers Comp Insurance
8,400
19,100
19,100
14,325
19,100
0
0%
101-7001-50240
Social Security -Medicare
5,771
6,200
6,200
5,115
6,400
200
4%
50 - Salaries and Benefits Totals:
527,426
597,400
597,400
472,847
608,497
11,097
2%
60 - Contract Services
101-7001-60104 Consultants 500 100,000 100,000 0 I 100,000 0 0%
60 - Contract Services Totals: 500 100,000 100,000 0 100,000 0 00/0
62 - Maintenance & Operations
101-7001-60320 Travel & Training
3,925
5,000
5,000
2,967
5,000
0
0%
101-7001-60351 Membership Dues
0
1,500
1,500
0
1,800
300
20%
101-7001-60400 Office Supplies
1,172
2,000
2,000
2,136
4,000
2,000
100%
101-7001-60420 Operating Supplies
154
500
500
617
1,000
500
50%
62 - Maintenance & Operations Totals:
5,250
9,000
9,000
5,720
11,800
2,800
29%
69 - Internal Service Charges
101-7001-98110 Information Tech Charge
92,000
115,500
115,500
86,625 I
115,500
0
0%
69 - Internal Service Charges Totals:
92,000
115,500
115,500
86,625
115,500
0
00/0
001 - Public Works Administration Totals:
625,176
821,900
821,900
565,192
835,797
13,897
2%
49
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 7001 - Public Works Administration
101-7001-50101 Permanent Full Time 433,497.00
100% - Public Works Director/City Engineer
100% - Management Analyst
100% - Administrative Technician
100% - Administrative Assistant
101-7001-60104 Consultants 100,000.00
Professional services and on -call electrical services
101-7001-60320 Travel & Training 5,000.00
Certification trainings
101-7001-60351 Membership Dues 1,800.00
American Public Works Association (APWA)
50
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
7002 - Public Works Development Service
50 - Salaries and Benefits
101-7002-50101
Permanent Full Time
126,409
133,500
133,500
107,286
136,283
2,783
2%
101-7002-50150
Other Compensation
341
0
0
0
0
0
0%
101-7002-50200
PERS-City Portion
15,089
18,700
18,700
15,085
18,800
100
1%
101-7002-50215
Other Fringe Benefits
1,300
1,300
1,300
1,050
1,300
0
0%
101-7002-50221
Medical Insurance
7,265
23,900
23,900
5,700
27,500
3,600
15%
101-7002-50222
Vision Insurance
108
0
0
145
0
0
0%
101-7002-50223
Dental Insurance
748
0
0
986
0
0
0%
101-7002-50224
Life Insurance
65
0
0
52
0
0
0%
101-7002-50225
Long Term Disability
770
900
900
671
900
0
0%
101-7002-50230
Workers Comp Insurance
2,100
4,800
4,800
3,600
4,800
0
0%
101-7002-50240
Social Security -Medicare
1,876
2,100
2,100
1,590
2,100
0
0%
50 - Salaries and Benefits Totals:
156,072
185,200
185,200
136,165
191,683
6,483
4%
60 - Contract Services
101-7002-60103 Professional Services
101-7002-60104 Consultants
101-7002-60183 Map/Plan Checking
60 - Contract Services Totals
68,023 100,000
3,500 5,000
95,256 150,000
100,000
5,000
150,000
17,666
3,500
79.126
100,000
5,000
150,000
0%
0%
0%
166,779 255,000 255,000 100,292 255,000 0 00/0
62 - Maintenance & Operations
101-7002-60320 Travel & Training
0
1,500
1,500
68
1,500
0
0%
101-7002-60351 Membership Dues
0
500
500
0
500
0
0%
101-7002-60420 Operating Supplies
0
500
500
1,037
500
0
0%
101-7002-60450 Advertising
2,339
3,000
3,000
441
3,000
0
0%
62 - Maintenance & Operations Totals:
2,339
5,500
5,500
1,545
5,500
0
00/0
69 - Internal Service Charges
101-7002-98110 Information Tech Charge
101-7002-98140 Facility & Fleet Maintenar
69 - Internal Service Charges Totals:
23,000 28,900 28,900 21,675 28,900
64,900 58,300 58,300 43,725 58,300
0%
0%
87,900 87,200 87,200 65,400 87,200 0 00/0
ublic Works Development Services Totals: 413,090 532,900 532,900 303,402 539,383 6,483 1%
51
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
Department : 7002 - Public Works Development Services
101-7002-50101 = Permanent Full Time � = 136,283.00
100% - Associate Engineer
101-7002-60103 Professional Services 100,000.00
Stormwater Commercial/Restaurant State Mandate
National Pollution Discharge Elimination Systems
101-7002-60104 Consultants 5,000.00
Project consulting services
101-7002-60183 Map/Plan Checking 150,000.00
On -call map checking and engineering civil plan check services
101-7002-60320 Travel & Training 1,500.00
For various training events including: Desert Valley Builders
Association meetings, American Public Works Association,
professional engineering review courses, and water quality/
flood seminars
101-7002-60351 Membership Dues 500.00
Board of Civil Engineers license
Other professional organizations
101-7002-60450 Advertising 3,000.00
Public hearing notices
FY 2024/25 PROPOSED BUDGET
52
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
7003 - Streets- Traffic
50 - Salaries and Benefits
101-7003-50101
Permanent Full Time
168,187
220,300
220,300
56,558
141,300
(79,000)
-32%
101-7003-50106
Standby
14,004
15,000
15,000
11,385
15,000
0
0%
101-7003-50107
Standby Overtime
14,189
15,000
15,000
18,818
15,000
0
0%
101-7003-50150
Other Compensation
321
500
500
0
0
(500)
-100%
101-7003-50200
PERS-City Portion
13,945
16,900
16,900
3,916
11,100
(5,800)
-32%
101-7003-50215
Other Fringe Benefits
1,300
3,900
3,900
1,050
2,600
(1,300)
-104%
101-7003-50221
Medical Insurance
34,005
71,800
71,800
11,048
54,600
(17,200)
-23%
101-7003-50222
Vision Insurance
250
0
0
73
0
0
0%
101-7003-50223
Dental Insurance
1,579
0
0
442
0
0
0%
101-7003-50224
Life Insurance
127
0
0
52
0
0
0%
101-7003-50225
Long Term Disability
896
1,400
1,400
321
900
(500)
-31%
101-7003-50230
Workers Comp Insurance
6,300
14,300
14,300
10,725
14,300
0
0%
101-7003-50240
Social Security -Medicare
2,844
2,000
2,000
1,258
2,100
100
3%
50 - Salaries and Benefits Totals:
257,948
361,100
361,100
115,647
256,900
(104,200)
-27%
60 - Contract Services
101-7003-60103 Professional Services 63,383 350,000 350,000 86,589 600,000 250,000 100%
101-7003-60120 Street Cleaning/Accident! 0 10,000 10,000 0 10,000 0 0%
60 - Contract Services Totals: 63,383 360,000 360,000 86,589 610,000 250,000 96%
62 - Maintenance & Operations
101-7003-60320
Travel & Training
101-7003-60351
Membership Dues
101-7003-60400
Office Supplies
101-7003-60420
Operating Supplies
101-7003-60423
Supplies -Graffiti and Van
101-7003-60432
Tools/Equipment
62 - Maintenance
& Operations Totals:
64 - Other Expenses
101-7003-60510 Signal Knockdowns, Cont
64 - Other Expenses Totals:
66 - Utilities
101-7003-61101 Electricity - Utilities
66 - Utilities Totals:
3,716
15,000
15,000
3,257
15,000
0
0%
514
550
550
450
550
0
0%
340
500
500
0
500
0
0%
21,483
15,000
15,000
12,960
20,000
5,000
50%
104
0
0
0
0
0
0%
39,443
42,000
42,000
9,465
42,000
0
0%
65,600
73,050
73,050
26,132
78,050
5,000
90/0
18,434 5,000 5,000 0 5,000 0 0%
18,434 51000 51000 0 5,000 0 00/0
0 0 0 845 0 0 0%
0 0 0 845 0 0 00/0
69 - Internal Service Charges
101-7003-98110 Information Tech Charge 69,000 86,600 86,600 64,950 I 86,600 0 0%
69 - Internal Service Charges Totals: 69,000 86,600 86,600 64,950 86,600 0 00/0
7003 - Streets - Traffic Totals: 474,366 885,750 885,750 294,163 1,036,550 150,800 19%
53
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 7003 - Streets- Traffic
101-7003-50101 Permanent Full Time
100% - Traffic Signal Technician (2)
141,300.00
101-7003-60103 Professional Services 600,000.00
Street division support services and unanticipated repairs such
as sidewalks, sinkholes, asphalt, and drainage channels
Street sweeping, storm drain cleaning, and sign inventory
replacement
101-7003-60320 Travel & Training 15,000.00
Onsite hearing tests
American Traffic Safety Services Association (ATSSA)
certification
International Municipal Signal Association (IMSA) certification
Class B commercial and eauioment operator certification
101-7003-60351 Membership Dues 550.00
CA Park and Recreations
American Traffic Safety Services Association (ATSSA)
101-7003-60510 Signal Knockdowns, Contingen 5,000.00
For traffic signal repairs due to accidents
54
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
7006 - Engineering Services
50 - Salaries and Benefits
101-7006-50101
Permanent Full Time
175,844
240,200
240,200
199,541
254,200
14,000
6%
101-7006-50105
Salaries - Overtime
45
500
500
0
500
0
0%
101-7006-50106
Standby
1,479
5,000
5,000
0
5,000
0
0%
101-7006-50107
Standby Overtime
0
1,000
1,000
0
1,000
0
0%
101-7006-50150
Other Compensation
81
500
500
0
500
0
0%
101-7006-50200
PERS-City Portion
12,411
18,500
18,500
14,956
20,000
1,500
8%
101-7006-50215
Other Fringe Benefits
2,600
3,900
3,900
3,000
3,900
0
0%
101-7006-50221
Medical Insurance
36,761
71,700
71,700
40,694
81,800
10,100
14%
101-7006-50222
Vision Insurance
394
0
0
365
0
0
0%
101-7006-50223
Dental Insurance
2,330
0
0
2,142
0
0
0%
101-7006-50224
Life Insurance
135
0
0
157
0
0
0%
101-7006-50225
Long Term Disability
1,023
1,600
1,600
1,227
1,600
0
0%
101-7006-50230
Workers Comp Insurance
6,300
14,300
14,300
10,725
14,300
0
0%
101-7006-50240
Social Security -Medicare
2,581
3,500
3,500
2,893
3,500
0
0%
50 - Salaries and Benefits Totals:
241,985
360,700
360,700
275,700
386,300
25,600
7%
60 - Contract Services
101-7006-60103 Professional Services
101-7006-60104 Consultants
101-7006-60144 Contract Traffic Engineer
101-7006-60145 Traffic Counts/Studies
101-7006-60146 PM 10 - Dust Control
60 - Contract Services Totals;
62 - Maintenance & Operations
101-7006-60320
Travel & Training
101-7006-60351
Membership Dues
101-7006-60352
Subscriptions & Publicatic
101-7006-60420
Operating Supplies
101-7006-60427
Safety Gear
101-7006-60690
Uniforms
62 - Maintenance
& Operations Totals:
0
20,000
220,000
0
20,000
(200,000) -95%
34,561
60,000
60,000
3,325
60,000
0 0%
189,362
200,000
200,000
58,521
200,000
0 0%
0
20,000
20,000
0
20,000
0 0%
77,071 250,000 250,000 4,234 250,000 0 00/0
300,994 550,000 750,000 66,080 550,000 (200,000) -34%
1,543
5,000
5,000
3,684
5,000
1,619
1,100
1,100
1,738
2,000
123
200
200
719
500
445
1,000
1,000
273
1,000
1,109
1,000
1,000
945
1,000
963
2,000
2,000
913
2,000
i,802
10,300
10,300
8,271
11,500
64 - Other Expenses
101-7006-60480 Contributions to OtherAc 28,731 0 196,500 50,536 I 200,000
64 - Other Expenses Totals: 28,731 0 196,500 50,536 200,000
0
0%
900
82%
300
150%
0
0%
0
0%
0
0%
.,200
12%
3,500
2%
1,500
2%
69 - Internal Service Charges
101-7006-98110 Information Tech Charge 69,000 86,600 86,600 64,950 I 86,600 0 0%
69 - Internal Service Charges Totals: 69,000 86,600 86,600 64,950 86,600 0 00/0
7006 - Engineering Services Totals: 646,511 1,007,600 1,404,100 465,538 1,234,400 (169,700) -14%
55
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 7006 - Engineering Services
101-7006-50101 Permanent Full Time
100% - Assistant Construction Manager
100% - Construction Inspector (2)
101-7006-60103 Professional Services
Regional scour analysis
101-7006-60104 Consultants
Project design services
101-7006-60146 PM 10 - Dust Control
254,200.00
20,000.00
60,000.00
250,000.00
Vacant city land dust control - near SilverRock, Highway 111
next to the Marriott Hotel, and other city owned land
101-7006-60320 Travel & Training 5,000.00
Coachella Valley American Public Works Association (APWA)
meetings
California Local Technical Assistance Program (LTAP) training
Geographic Information Systems (GIS) certification
National Pollutant Discharge Elimination System (NPDES)
certification
Certified Inspector trainina
101-7006-60351 Membership Dues 2,000.00
American Public Works Association (APWA)
Institute of Transportation Engineers (ITE)
American Society of Civil Engineers (ASCE)
101-7006-60352 Subscriptions & Publications 500.00
Subdivision map act books
101-7006-60480 Contributions to Other Agencie 200,000.00
56
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Reimbursement agreement with the Coachella Valley
Association of Governments (CVAG) for the Avenue 48 Arts and
Music Line Project design.
57
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
6001 - Design & Development Administra
50 - Salaries and Benefits
101-6001-50101 Permanent Full Time
316,103
322,000
322,000
212,512
326,500
4,500
1%
101-6001-50110 Commissions & Boards
5,223
8,400
8,400
6,900
8,400
0
0%
101-6001-50150 Other Compensation
964
500
500
380
500
0
0%
101-6001-50200 PERS-City Portion
26,072
29,500
29,500
19,973
30,100
600
2%
101-6001-50215 Other Fringe Benefits
3,900
3,900
3,900
2,100
3,900
0
0%
101-6001-50221 Medical Insurance
59,891
71,800
71,800
33,075
81,800
10,000
13%
101-6001-50222 Vision Insurance
534
0
0
420
0
0
0%
101-6001-50223 Dental Insurance
1,682
0
0
946
0
0
0%
101-6001-50224 Life Insurance
218
0
0
104
0
0
0%
101-6001-50225 Long Term Disability
1,895
2,100
2,100
1,261
2,100
0
0%
101-6001-50230 Workers Comp Insurance
6,300
14,300
14,300
10,725
14,300
0
0%
101-6001-50240 Social Security -Medicare
4,663
4,700
4,700
3,182
4,800
100
2%
101-6001-50241 Social Security -FICA
310
0
0
428
0
0
0%
50 - Salaries and Benefits Totals:
427,755
457,200
457,200
292,005
472,400
15,200
4%
60 - Contract Services
101-6001-60104 Consultants
0
10,000
10,000
0
10,000
0
0%
101-6001-60122 Credit Card Fees
162,361
150,000
150,000
100,301
150,000
0
0%
60 - Contract Services Totals:
162,361
160,000
160,000
100,301
160,000
0
00/0
62 - Maintenance & Operations
101-6001-60320
Travel & Training
101-6001-60351
Membership Dues
101-6001-60352
Subscriptions & Publicati<
101-6001-60400
Office Supplies
101-6001-60410
Printing
101-6001-60420
Operating Supplies
101-6001-60450
Advertising
62 - Maintenance
& Operations Totals:
69 - Internal Service Charges
101-6001-98110 Information Tech Charge
101-6001-98140 Facility & Fleet Maintenar
69 - Internal Service Charges Totals:
2,298
5,000
5,000
4,615
5,000
0
0%
250
600
600
500
600
0
0%
243
700
700
80
700
0
0%
235
2,000
2,000
1,260
2,000
0
0%
0
400
400
0
400
0
0%
1,286
1,000
1,000
365
1,000
0
0%
0
1,000
1,000
0
1,000
0
0%
4,313
10,700
10,700
6,820
10,700
0
00/0
69,000 86,600 86,600 64,950
08,100 97,100 97,100 72,825
86,600 0 0%
97,100 0 0%
177,100 183,700 183,700 137,775 183,700 0 00/0
ign & Development Administration Totals: 771,529 811,600 811,600 536,901 826,800 15,200 2%
58
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 6001 - Design & Development Administration
101-6001-50101' Permanent Full Time
100% - Design & Development Director
100% - Administrative Technician
100% - Administrative Assistant
101-6001-60104
Consultants
Studies and predesign for projects
Disadvantaged Business Enterprise Program
101-6001-60320
Travel & Training
Staff professional development
American Planning Association (APA) Conference
101-6001-60351
Membership Dues
American Public Works Association (APWA)
101-6001-60352
Subscriptions & Publications
The Desert Sun
101-6001-60410
Printing
Materials for community events
101-6001-60450
Advertising
Public noticing requirements
326,500.00
10,000.00
5,000.00
600.00
700.00
400.00
1,000.00
59
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
6002 - Planning
50 - Salaries and Benefits
101-6002-50101
Permanent Full Time
324,103
324,200
324,200
229,072
417,600
93,400
29%
101-6002-50150
Other Compensation
1,024
0
0
0
0
0
0%
101-6002-50200
PERS-City Portion
22,536
24,900
24,900
18,693
35,200
10,300
44%
101-6002-50215
Other Fringe Benefits
3,550
3,900
3,900
2,700
5,200
1,300
38%
101-6002-50221
Medical Insurance
50,456
71,800
71,800
47,737
109,100
37,300
50%
101-6002-50222
Vision Insurance
608
0
0
418
0
0
0%
101-6002-50223
Dental Insurance
2,523
0
0
1,738
0
0
0%
101-6002-50224
Life Insurance
190
0
0
140
0
0
0%
101-6002-50225
Long Term Disability
1,893
2,100
2,100
1,434
2,700
600
30%
101-6002-50230
Workers Comp Insurance
6,300
14,300
14,300
10,725
14,300
0
0%
101-6002-50240
Social Security -Medicare
4,738
4,700
4,700
3,322
6,100
1,400
30%
50 - Salaries and Benefits Totals:
417,922
445,900
445,900
315,980
590,200
144,300
33%
60 - Contract Services
101-6002-60103 Professional Services 112,837 150,000 150,000 36,509 150,000 0 0%
101-6002-60125 Temporary Agency Servii 33,343 0 0 0 0 0 0%
60 - Contract Services Totals: 146,180 150,000 150,000 36,509 150,000 0 00/0
62 - Maintenance & Operations
101-6002-60320 Travel & Training
9,864
14,000
14,000
6,578
14,000
0
0%
101-6002-60351 Membership Dues
375
500
500
250
500
0
0%
101-6002-60352 Subscriptions & Publicati<
304
400
400
0
600
200
200%
101-6002-60450 Advertising
8,956
10,000
10,000
8,630
15,000
5,000
63%
30,100
5,200
23%
62 - Maintenance & Operations Totals: 19,500 24,900 24,900 15,458
69 - Internal Service Charges
101-6002-98110 Information Tech Charge 69,000 86,600 86,600 64,950 I 86,600 0 0%
69 - Internal Service Charges Totals: 69,000 86,600 86,600 64,950 86,600 0 00/0
6002 - Planning Totals: 652,601 707,400 707,400 432,897 856,900 149,500 20%
60
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 6002 -Planning
101-6002-50101 Permanent Full Time
100% - Planning Manager
100% - Senior Planner
100% - Associate Planner
100% - Assistant Planner
101-6002-60103 Professional Services
Professional planning
Environmental services
Specific plan amendments
GIS consulting services
Historical Survev
101-6002-60320 Travel & Training
417,600.00
150,000.00
14,000.00
Staff professional development
Planning Commissioners Academy- League of Cities
American Planning Association (APA) Conference
101-6002-60351 Membership Dues 500.00
American Planning Association (APA)
101-6002-60352 Subscriptions & Publications 600.00
International Cost Engineering Council - CEQA books
Subdivision Map Act
Planning and zoning laws
101-6002-60450 Advertising 15,000.00
Planning hearing notices
Public notification requirements for city and development
projects - Desert Sun
Outreach workshops
61
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
6003 - Building
50 - Salaries and Benefits
101-6003-50101
Permanent Full Time
419,464
546,900
546,900
437,788
575,700
28,800
6%
101-6003-50105
Salaries - Overtime
27,044
20,000
20,000
20,645
20,000
0
0%
101-6003-50150
Other Compensation
2,187
2,000
2,000
1,520
2,000
0
0%
101-6003-50200
PERS-City Portion
36,041
49,900
49,900
39,346
54,000
4,100
10%
101-6003-50215
Other Fringe Benefits
5,200
7,800
7,800
5,200
7,800
0
0%
101-6003-50221
Medical Insurance
101,229
143,500
143,500
109,882
163,600
20,100
14%
101-6003-50222
Vision Insurance
1,098
0
0
1,116
0
0
0%
101-6003-50223
Dental Insurance
5,025
0
0
4,876
0
0
0%
101-6003-50224
Life Insurance
309
0
0
314
0
0
0%
101-6003-50225
Long Term Disability
2,566
3,500
3,500
2,703
3,700
200
6%
101-6003-50230
Workers Comp Insurance
12,500
28,600
28,600
21,450
28,600
0
0%
101-6003-50240
Social Security -Medicare
6,478
8,000
8,000
6,653
8,400
400
6%
50 - Salaries and Benefits Totals:
619,142
810,200
810,200
651,493
863,800
53,600
7%
60 - Contract Services
101-6003-60118 Plan Checks 491,810 290,000 290,000 323,177 I 350,000 60,000 14%
60 - Contract Services Totals: 491,810 290,000 290,000 323,177 350,000 60,000 14%
62 - Maintenance & Operations
101-6003-60320
Travel & Training
101-6003-60351
Membership Dues
101-6003-60352
Subscriptions & Publicati<
101-6003-60420
Operating Supplies
101-6003-60425
Supplies - Field
101-6003-60690
Uniforms
62 - Maintenance
& Operations Totals:
2,220
3,000
3,000
3,562
4,000
1,000
33%
563
700
700
245
1,000
300
43%
2,416
1,500
1,500
506
1,500
0
0%
604
600
600
150
600
0
0%
661
1,000
1,000
104
1,000
0
0%
1,471
2,000
2,000
0
2,000
0
0%
7,935 8,800 8,800 4,568 10,100 1,300 13%
69 - Internal Service Charges
101-6003-98110 Information Tech Charge 138,000 173,200 173,200 129,900 173,200 0 0%
101-6003-98140 Facility &Fleet Maintenar 129,700 116,500 116,500 87,375 116,500 0 0%
69 - Internal Service Charges Totals: 267,700 289,700 289,700 217,275 289,700 0 00/0
6003 - Building Totals: 1,386,587 1,398,700 1,398,700 1,196,512 1,513,600 114,900 8%
62
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 6003 - Building
101-6003-50101 = Permanent Full Time
101-6003-60118
101-6003-60320
101-6003-60351
101-6003-60352
100% - Building Official
100% - Deputy Building Official
100% - Plans Examiner
100% - Senior Building Inspector (2)
100% - Building Inspector I
Plan Checks
575,700.00
350,000.00
Consulting services as needed to support plan check review
services
Travel & Training 4,000.00
CA Building Officials (CALBO)
International Code Council certifications
Membership Dues 1,000.00
CA Building Officials (CALBO)
International Association of Plumbing and Mechanical Officials
(IAPMO)
Subscriptions & Publications
1,500.00
Updated California Building Code books and other professional
subscriptions
63
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
6006 - The Hub
50 - Salaries and Benefits
101-6006-50101
Permanent Full Time
472,916
687,900
687,900
458,217
728,325
40,425
7%
101-6006-50102
Salaries - Part Time
54,682
83,200
83,200
46,513
89,200
6,000
8%
101-6006-50105
Salaries - Overtime
0
0
0
37
0
0
0%
101-6006-50150
Other Compensation
1,707
0
0
0
0
0
0%
101-6006-50200
PERS-City Portion
45,827
60,700
60,700
45,999
67,200
6,500
13%
101-6006-50215
Other Fringe Benefits
6,500
11,700
11,700
7,400
11,700
0
0%
101-6006-50221
Medical Insurance
130,866
167,300
167,300
128,345
245,400
78,100
39%
101-6006-50222
Vision Insurance
1,378
0
0
1,211
0
0
0%
101-6006-50223
Dental Insurance
7,628
0
0
6,647
0
0
0%
101-6006-50224
Life Insurance
408
0
0
380
0
0
0%
101-6006-50225
Long Term Disability
2,941
4,000
4,000
2,811
4,600
600
17%
101-6006-50230
Workers Comp Insurance
16,700
42,900
42,900
32,175
42,900
0
0%
101-6006-50240
Social Security -Medicare
7,650
9,200
9,200
7,319
10,600
1,400
17%
50 - Salaries and Benefits Totals:
749,203
1,066,900
1,066,900
737,053
1,199,925
133,025
14%
60 - Contract Services
101-6006-60103 Professional Services 0 0 0 0 0 0 0%
101-6006-60125 Temporary Agency Servi( 58,115 0 0 40,373 25,000 25,000 42%
60 - Contract Services Totals: 58.115 0 0 40,373 25,000 25,000 19%
62 - Maintenance & Operations
101-6006-60320 Travel & Training
1,109
10,000
10,000
1,443
10,000
0 0%
101-6006-60351 Membership Dues
150
0
0
150
150
150 75%
101-6006-60420 Operating Supplies
4,230
5,000
5,000
1,022
5,000
0 0%
62 - Maintenance & Operations Totals:
5,489
15,000
15,000
2,615
15,150
150 2%
69 - Internal Service Charges
101-6006-98110 Information Tech Charge 183,900 259,800 259,800 194,850 I 259,800 0 0%
69 - Internal Service Charges Totals: 183,900 259,800 259,800 194,850 259,800 0 00/0
6006 - The Hub Totals: 996,706 1,341,700 1,341,700 974,891 1,499,875 158,175 13%
64
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Department : 6006 - The Hub
101-6006-50101 Permanent Full Time
101-6006-50102
101-6006-60125
101-6006-60320
101-6006-60351
100% - Hub Manager
100% - Sr. Permit Technician
100% - Permit Technician (6)
100% - Administrative Assistant
Salaries - Part Time
100% - Data Reporting Specialist (P/T)
Temporary Agency Services
Travel & Training
728,325.00
89,200.00
25,000.00
10,000.00
Tyler Annual Conference
California Municipal Revenue & Tax Annual Conference
Structured Query Language (SQL) training
Fred Pryor- Technical & management training
Membership Dues
150.00
65
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
1006 - Finance
50 - Salaries and Benefits
101-1006-50101
Permanent Full Time
838,404
984,700
984,700
726,109
1,037,600
52,900
6%
101-1006-50105
Salaries - Overtime
50
0
0
2,419
0
0
0%
101-1006-50110
Commissions & Boards
1,425
3,700
3,700
1,575
3,700
0
0%
101-1006-50150
Other Compensation
2,627
0
0
0
0
0
0%
101-1006-50200
PERS-City Portion
73,944
83,500
83,500
70,436
101,400
17,900
25%
101-1006-50201
PERS-Employee Portion
0
0
0
12
0
0
0%
101-1006-50210
PERS-Survivor Benefits
(2)
0
0
(1)
0
0
0%
101-1006-50215
Other Fringe Benefits
11,570
12,870
12,870
9,345
12,900
30
0%
101-1006-50221
Medical Insurance
174,581
236,700
236,700
154,452
270,000
33,300
15%
101-1006-50222
Vision Insurance
1,902
0
0
1,560
0
0
0%
101-1006-50223
Dental Insurance
7,714
0
0
6,589
0
0
0%
101-1006-50224
Life Insurance
542
0
0
465
0
0
0%
101-1006-50225
Long Term Disability
5,148
6,300
6,300
4,482
6,600
300
6%
101-1006-50230
Workers Comp Insurance
17,600
47,200
47,200
35,400
47,200
0
0%
101-1006-50240
Social Security -Medicare
12,179
14,300
14,300
10,587
15,100
800
7%
101-1006-50241
Social Security -FICA
88
0
0
98
0
0
0%
50 - Salaries and Benefits Totals:
1,147,772
1,389,270
1,389,270
1,023,528
1,494,500
105,230
90/0
60 - Contract Services
101-1006-60102 Administration
13,081
20,000
20,000
9,996
30,000
10,000
50%
101-1006-60103 Professional Services
32,885
70,000
70,000
17,165
70,000
0
0%
101-1006-60104 Consultants
63,571
70,000
70,000
42,445
70,000
0
0%
101-1006-60106 Auditors
71,860
80,000
80,000
50,600
110,000
30,000
38%
101-1006-60122 Credit Card Fees
1,405
1,500
1,500
(352)
1,500
0
0%
60 - Contract Services Totals:
182,801
2411500
241,500
119,855
281,500
40,000
20%
62 - Maintenance & Operations
101-1006-60137
Community Engagement
101-1006-60320
Travel & Training
101-1006-60351
Membership Dues
101-1006-60352
Subscriptions & Publicati<
101-1006-60400
Office Supplies
101-1006-60410
Printing
101-1006-60450
Advertising
62 - Maintenance
& Operations Totals:
69 - Internal Service Charges
101-1006-98110 Information Tech Charge
69 - Internal Service Charges Totals;
335
1,500
1,500
0
1,500
0
0%
12,345
25,000
25,000
13,001
25,000
0
0%
3,088
3,500
3,500
3,634
4,000
500
14%
2,550
2,200
2,200
1,784
2,200
0
0%
4,792
2,500
2,500
2,416
3,000
500
20%
2,428
5,000
5,000
1,664
5,000
0
0%
158
1,000
1,000
0
1,000
0
0%
25,696
40,700
40,700
22,499
41,700
1,000
2%
204,600
285,800
285,800
214,350
I 285,800
0
0%
204,600
285,800
285,800
214,350
285,800
0
00/0
1006 - Finance Totals: 1,560,869 1,957,270 1,957,270 1,380,232 2,103,500 146,230 90/0
66
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 1006 - Finance
101-1006-50101 Permanent Full Time 1,037,600.00
90% - Finance Director (10% Housing Fund)
100% - Finance Manager
100% - Principal Management Analyst
100% - Sr. Accountant
100% - Accountant
100% - Jr. Accountant
100% - Sr. Finance Technician
100% - Finance Technician (2)
100% - Administrative Technician
101-1006-60102 Administration 30,000.00
Bank service fees
Fiscal custodian fees
101-1006-60103 Professional Services 70,000.00
Financial Advisory Commission Subcommittee Support
Professional accounting support
Armored Car Services
Annual Budget -at -a -Glance
Third party audits & policy verifications
State Controller's Report - Citywide
Pension Plan Review Consulting Services
OPEB annual third-narty valuation. retiree health
101-1006-60104 Consultants 70,000.00
Property tax revenue analysis
Sales tax revenue analysis
101-1006-60137 Community Engagement 1,500.00
Community workshop and budget outreach
101-1006-60320 Travel & Training 25,000.00
67
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
California Society of Municipal Finance Officers (CSMFO) Annual
Conference
California Municipal Treasurers Association (CMTA) Conference
League of California Cities Conference
Tyler ERP 10 training - Financial software
Annual GASB update training
Various half -day classes: CSMFO, GFOA, CAPPO
101-1006-60351 Membership Dues 4,000.00
CA Municipal Finance Officers Association (CSMFO)
CA Municipal Treasurer Association (CMTA)
Government Finance Officers Association (GFOA)
CA Assoc. of Public Procurement Officials (CAPPO)
UCLA Economic Forecast
101-1006-60352 Subscriptions & Publications 2,200.00
Annual Comprehensive Financial Report (ACFR) statistical data
reports
101-1006-60410 Printing 5,000.00
Accounts Payable and Payroll checks
Budget and financial reports - covers and tabs
Financial Advisory Commission reports
101-1006-60450 Advertising 1,000.00
Newspaper advertisements for surplus sales and Request for
Proposals
68
CITY OF LA QUINTA
GENERAL FUND EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
1007 - Central Services
50 - Salaries and Benefits
101-1007-50109
Vacation & Sick Leave Bu
130,044
150,000
150,000
120,455
150,000
0
0%
101-1007-50115
Contingency for Stafffing
0
500,000
500,000
0
500,000
0
0%
101-1007-50117
PERS - Unfunded Pensior
12,427,058
950,000
950,000
955,108
200,000
(750,000)
-6%
101-1007-50200
PERS-City Portion
1,539
0
0
0
0
0
0%
101-1007-50221
Medical Insurance
926
0
0
0
0
0
0%
101-1007-50222
Vision Insurance
14
0
0
0
0
0
0%
101-1007-50223
Dental Insurance
66
0
0
0
0
0
0%
101-1007-50224
Life Insurance
4
0
0
0
0
0
0%
101-1007-50225
Long Term Disability
28
0
0
0
0
0
0%
101-1007-50240
Social Security -Medicare
1,887
0
0
1,747
0
0
0%
101-1007-50243
Employer Contrib Retiree
27,745
35,000
35,000
20,341
35,000
0
0%
101-1007-50244
State Unemployment Ins
31,582
25,000
25,000
90
25,000
0
0%
50 - Salaries and Benefits Totals:
12,620,892
1,660,000
1,660,000
1,097,740
910,000
(750,000)
-6%
62 - Maintenance & Operations
101-1007-60351 Membership Dues
120
200
200
120
200
0
0%
101-1007-60401 Operating Supplies
0
1,000
1,000
0
1,000
0
0%
101-1007-60402 Forms, Copier Paper
4,787
5,000
5,000
2,816
5,000
0
0%
101-1007-60403 Citywide Supplies
10,066
8,000
8,000
9,952
10,500
2,500
31%
101-1007-60405 Miscellaneous Supplies
227
1,000
1,000
0
1,000
0
0%
101-1007-60470 Postage
17,583
25,000
25,000
14,262
25,000
0
0%
101-1007-60535 Sales Tax Reimbursemen
52,972
0
0
0
0
0
0%
101-1007-60536 TOT Resort Rebate Progr
0
100,000
400,000
49,995
100,000
(300,000)
-100%
101-1007-60661 Postage Machine
22,912
13,000
13,000
11,886
13,000
0
0%
62 - Maintenance & Operations Totals:
108,667
153,200
453,200
89,031
155,700
(297,500)
-72%
68 - Capital Expenses
101-1007-74010 Land Acquisition
452,554
500,000
500,000
0 I
20,000
(480,000)
-100%
68 - Capital Expenses Totals:
452,554
500,000
500,000
0
20,000
(480,000)
-1000/0
69 - Internal Service Charges
101-1007-91842 Liability Insurance & Claii
101-1007-91843 Property & Crime Insurar
101-1007-91844 Earthquake Insurance
101-1007-98110 Information Tech Charge
101-1007-98140 Facility & Fleet Maintenar
69 - Internal Service Charges Totals:
529,000
556,000
556,000
417,000
556,000
0
0%
25,500
28,500
28,500
21,375
28,500
0
0%
67,000
70,000
70,000
52,500
70,000
0
0%
115,000
144,400
144,400
108,300
144,400
0
0%
85,800
77,000
77,000
57,750
77,000
0
0%
822,300
875,900
875,900
656,925
875,900
0
00/0
99 - Transfers Out
101-1007-99900 Transfers Out 6,944,642 14,159,000 40,764,381 7,989,314 I 19,809,000 (20,955,381) -45%
99 - Transfers Out Totals: 6,944,642 14,159,000 40,764,381 7,989,314 19,809,000 (20,955,381) -45%
1007 - Central Services Totals: 20,949,055 17,348,100 44,253,481 9,833,010 21,770,600 (22,482,881) -36%
69
CITY OF LA QUINTA GENERAL FUND EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Department : 1007 - Central Services
101-1007-50115 Contingency for Stafffing 500,000.00
Workforce flexibility
Work within Class and Compensation structure
Manage CalPERS increases
Ensure job rates reflect market rates
101-1007-50117 PERS - Unfunded Pension Liabi 200,000.00
Annual minimum CalPERS requirement to long-term pension
liability. Based on valuation reports - inflation assumed at
2.3% with discount rate of 6.8%. Contribution per pension tier
is as follows:
Tier 1 - Classic $125,000
Tier 2 - $30,000
PEPRA Tier - $15,000
101-1007-50244 State Unemployment Insuranc 25,000.00
101-1007-60351 Membership Dues 200.00
Costco membership
101-1007-60536 TOT Resort Rebate Program 100,000.00
To promote new tourism activities within the City and
encourage citywide participation and innovation proposals;
rebate for hotels collecting resort fees up to $50,000 per propo
101-1007-74010 Land Acquisition
20,000.00
Engineering maps, property survey & title search services
101-1007-99900 Transfers Out
19,809,000.00
Art in Public Places - Maintenance/Installation
CIP GF - City Hall Drainaqe Improvements
CIP GF - Citywide Drainaqe Improvements
CIP GF - Citywide Misc Concrete Improvements
CIP GF - Citywide PMP Street Improvements
Amount
50,000
1,000,000
477,000
1,000,000
2,000,000
70
CITY OF LA QUINTA
GENERAL FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
CIP GF - Fritz Burns Park Improvements
2,000,000
CIP GF - LLD Median Improvements
500,000
CIP GF - Maintenance & Operations Yard
500,000
CIP GF - Sidewalk & ADA Ramp Improvements
75,000
CIP GF - Villaqe Parkinq Lot Utility Underqround
500,000
Gas Tax Fund - Supplement Operations
500,000
Law Enforcement Fund - Deceased LQ Officers
2,000
LLD Fund - Supplement Maint. Operations
2,500,000
Measure G - Citywide Doq Park Improvements
500,000
Measure G - Cultural Campus
1,000,000
Measure G - Fritz Burns Park Improvements
2,500,000
Measure G - Hwy 111 Corridor Implementation
3,050,000
Measure G - Maintenance & Operations Yard
400,000
Measure G - Welcome Center Improvements
750,000
PARS Supplemental Pension Plan
5,000
SilverRock Resort
500,000
71
CITY OF LA QUINTA
INTERNAL SERVICE FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Changein
Original Budget
Current Budget
YTD Activity*
Proposed
Current 23/24
Budget
501 - FACILITY & FLEET REPLACEMENT
0000 - Undesignated
62 - Maintenance & Operations
501-0000-60448 Vehicle Registrations
0
0
813
0
0
0%
501-0000-60674 Fuel & Oil
155,000
155,000
89,209
155,000
0
0%
501-0000-60675 Parts, Accessories, and U
100,000
150,000
15,543
50,000
(100,000)
-67%
501-0000-60676 Vehicle Repair & Mainter
100,000
100,000
61,383
100,000
0
0%
501-0000-60678 Street Sweeper
10,000
10,000
104
0
(10,000)
-100%
501-0000-60679 Motorcycle Repair & Main
10,000
10,000
9,743
10,000
0
0%
62 - Maintenance & Operations Totals:
375,000
425,000
176,793
315,000
(110,000)
-26%
63 -Insurance
501-0000-91843 Property & Crime Insurar 13,750 14,080 10,560 I 13,750 (330) -2%
63 - Insurance Totals: 13,750 14,080 10,560 13,750 (330) -20/b
68 - Capital Expenses
501-0000-71020 Furniture
25,000
25,000
8,367
25,000
0
0%
501-0000-71030 Vehicles, Rentals & Lease
85,000
85,000
22,707
30,000
(55,000)
-65%
501-0000-71031 Vehicles, Purchased
75,000
175,000
29,928
75,000
(100,000)
-57%
501-0000-71032 Building Leases
40,000
40,000
33,974
40,000
0
0%
501-0000-71103 City Bldg Repl/Repair
230,000
281,000
75,568
430,000
149,000
53%
501-0000-71111 Deprec Exp - Mach & EqL
50,000
50,000
0
50,000
0
0%
501-0000-71112 Depreciation Expense - B
25,000
25,000
0
25,000
0
0%
501-0000-71113 Depreciation Expense - V
100,000
100,000
0
100,000
0
0%
501-0000-71114 Depreciation Expense - N
5,000
5,000
0
5,000
0
0%
501-0000-80100 Machinery & Equipment
375,000
874,000
21,040
200,000
(674,000)
-77%
68 - Capital Expenses Totals:
1,010,000
1,660,000
191,584
980,000
(680,000)
-41%
99 - Transfers Out
501-0000-99900 Transfers Out
50,000
231,964
0 I
50,000
(181,964)
-78%
99 - Transfers Out Totals:
50,000
231,964
0
50,000
(181,964)
-78%
0000 - Undesignated Totals:
1,448,750
2,331,044
378,937
1,358,750
(972,294)
-42%
FACILITY & FLEET REPLACEMENT Totals:
1,448,750
2,331,044
378,937
1,358,750
(972,294)
-42%
72
CITY OF LA QUINTA INTERNAL SERVICE FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Fund: 501 - FACILITY & FLEET REPLACEMENT
501-0000-71030 Vehicles, Rentals & Leases
30,000.00
City vehicles are leased through Enterprise
501-0000-71103 City Bldg Repl/Repair 430,000.00
Building repairs to include roof repair and interior/exterior
painting
501-0000-80100 Machinery & Equipment 200,000.00
Mid -sized dump truck
73
CITY OF LA QUINTA INTERNAL SERVICE FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Changein
Original Budget
Current Budget
YTD Activity*
Proposed
Current 23/24
Budget
502 - INFORMATION TECHNOLOGY
0000 - Undesignated
50 - Salaries and Benefits
502-0000-50101 Permanent Full Time
37,200
37,200
30,019
37,200
0
0%
502-0000-50200 PERS-City Portion
2,900
2,900
2,227
2,900
0
0%
502-0000-50215 Other Fringe Benefits
520
520
420
520
0
0%
502-0000-50221 Medical Insurance
9,600
9,600
4,252
9,600
0
0%
502-0000-50222 Vision Insurance
0
0
14
0
0
0%
502-0000-50223 Dental Insurance
0
0
124
0
0
0%
502-0000-50224 Life Insurance
0
0
21
0
0
0%
502-0000-50225 Long Term Disability
300
300
183
300
0
0%
502-0000-50240 Social Security -Medicare
600
600
435
600
0
0%
50 - Salaries and Benefits Totals:
51,120
51,120
37,695
51.120
0
00/0
60 - Contract Services
502-0000-60104 Consultants
502-0000-60108 Technical
502-0000-60300 Maintenance Agreements
502-0000-60301 Software Licenses
60 - Contract Services Totals:
62 - Maintenance & Operations
502-0000-60320 Travel & Training
502-0000-60351 Membership Dues
502-0000-60420 Operating Supplies
502-0000-60662 Copiers
62 - Maintenance & Operations Totals
66 - Utilities
502-0000-61300
Telephone - Utilities
502-0000-61301
Cell/Mobile Phones
502-0000-61400
Cable/Internet - Utilities
66 - Utilities Totals:
68 - Capital Expenses
502-0000-71047
City Clerk, Software Enhz
502-0000-71049
Software Implementatior
502-0000-71110
Depreciation Expense
502-0000-71111
Deprec Exp - Mach & EqL
502-0000-71115
Depreciation Expense - S
502-0000-80100
Machinery & Equipment
502-0000-80103
Computers
68 -
Capital Expenses Totals:
480,000
480,000
390,913
480,000
0
0%
65,000
65,000
39,294
65,000
0
0%
6,000
6,000
31,761
33,125
27,125
452%
900,000
900,000
689,080
900,000
0
0%
1,451,000
1,451,000
1,151,048
1,478,125
27,125
2%
500
500
2,122
500
0
0%
0
0
390
0
0
0%
5,000
5,000
11,155
5,000
0
0%
80,000
80,000
9,206
80,000
0
0%
85,500
85,500
22,872
85,500
0
00/0
35,000
35,000
37,925
35,000
0
0%
60,000
60,000
41,601
60,000
0
0%
85,000
85,000
71,700
85,000
0
0%
180,000
180,000
151,227
180,000
0
00/0
0
0
0
13,000
13,000
0%
500,000
500,000
106,194
500,000
0
0%
5,000
5,000
0
5,000
0
0%
60,000
60,000
0
60,000
0
0%
70,000
70,000
0
70,000
0
0%
400,000
595,000
83,040
495,200
(99,800)
-17%
280,000
280,000
100,155
280,000
0
0%
1,315,000
1,510,000
289,389
1,423,200
(86,800)
-6%
0000 - Undesignated Totals: 3,082,620 3,277,620 1,652,231 3,217,945 (59,675) -20/o
W2 - INFORMATION TECHNOLOGY Totals: 3,082,620 3,277,620 1,652,231 3,217,945 (59,675) -20/o
74
CITY OF LA QUINTA
INTERNAL SERVICE FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Fund: 502 - INFORMATION TECHNOLOGY
502-0000-50101 Permanent Full Time 37,200.00
40% - Management Analyst (60% Housing Fund)
502-0000-60104 Consultants 480,000.00
Contracted information technology services
502-0000-60108 Technical 65,000.00
Cable services, wireless access points, modems, and virtual
servers
502-0000-60320 Travel & Training 500.00
Fraud prevention, firewall, encryption, coding, and other IT -
related trainings
502-0000-60420 Operating Supplies 5,000.00
Small equipment such as keyboards, computer mouses, cables,
conference room TV's, speakers, docking stations, etc.
502-0000-71047 City Clerk, Software Enhancem 13,000.00
502-0000-80100 Machinery & Equipment 495,200.00
Aging inventory upgrades per 5-year plan
Study Session AV upgrades
75
CITY OF LA QUINTA
INTERNAL SERVICE FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Changein
Original Budget
Current Budget
YTD Activity*
Proposed
Current 23/24
Budget
503 - PARK EQUIP & FACILITY FUND
0000 - Undesignated
68 - Capital Expenses
503-0000-71060 Parks
2,242,200
3,092,200
695,032 I
2,000,000
(1,092,200)
-35%
68 - Capital Expenses Totals:
2,242,200
3,092,200
695,032
2,000,000
(1,092,200)
-35%
0000 - Undesignated Totals: 2,242,200 3,092,200 695,032 2,000,000 (1,092,200) -35%
3 - PARK EQUIP & FACILITY FUND Totals: 2,242,200 3,092,200 695,032 2,000,000 (1,092,200) -35%
76
CITY OF LA QUINTA
INTERNAL SERVICE FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Fund: 503 - PARK EQUIP & FACILITY FUND
503-0000-71060 Parks 2,000,000.00
Citywide park enhancements to include:
Shade structures, drinking fountains, fitness equipment
replacement, playground structures and other amenities
77
CITY OF LA QUINTA INTERNAL SERVICE FUND EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Changein
Original Budget
Current Budget
YTD Activity*
Proposed
Current 23/24
Budget
504-INSURANCE FUND
1010 - Insurance
60 - Contract Services
504-1010-60320 Travel & Training
5,000
5,000
1,336
5,000
0
0%
504-1010-60351 Membership Dues
1,000
1,000
0
1,000
0
0%
60 - Contract Services Totals:
6,000
6,000
1,336
6,000
0
00/0
62 - Maintenance & Operations
504-1010-60420 Operating Supplies 12,500 12,500 10,488 I 12,500 0 0%
62 - Maintenance & Operations Totals: 12,500 12,500 10,488 12,500 0 0%
63 -Insurance
504-1010-60441
Liability Insurance
395,000
395,000
395,165
380,000
(15,000)
-4%
504-1010-60442
Claims
2,500
2,500
0
2,500
0
0%
504-1010-60443
Property Insurance
190,000
190,000
187,527
187,000
(3,000)
-2%
504-1010-60446
Crime Insurance
2,000
2,000
1,800
2,000
0
0%
504-1010-60447
Earthquake Insurance
240,000
240,000
242,000
242,000
2,000
1%
504-1010-60452
Workers Comp Premium
270,000
270,000
269,483
226,000
(44,000)
-16%
63 - Insurance Totals:
1,099,500
1,099,500
1,095,975
1,039,500
(60,000)
-50/0
1010 - Insurance Totals: 1,118,000 1,118,000 1,107,799 1,058,000 (60,000) -50/o
504 - INSURANCE FUND Totals: 1,118,000 1,118,000 1,107,799 1,058,000 (60,000) -50/0
78
CITY OF LA QUINTA INTERNAL SERVICE FUND EXPENSE NOTES FY 2024/25 PROPOSED BUDGET
Fund: 504 - INSURANCE FUND
504-1010-60320 Travel & Training
504-1010-60351
504-1010-60420
5,000.00
California Joint Powers Insurance Authority (CJPIA)
Public Agency Risk Management Association (PARMA)
Membership Dues
1,000.00
Public Agency Risk Management Association (PARMA) members
Operating Supplies
12,500.00
Ergonomic assessments and first aid kit supplies/maintenance
79
DEPARTMENTAL REPORT ITEM NO.1
City of La Qu i nta
FINANCIAL ADVISORY COMMISSION MEETING
DEPARTMENT REPORT
TO: Members of the Financial Advisory Commission
FROM: Claudia Martinez, Finance Director
DATE: May 8, 2024
SUBJECT: FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
In addition to items presented as staff reports, the Finance Department would like
to provide updates on the following matters.
AUDIT & FINANCIAL REPORTING
• Citywide Comprehensive Audit for fiscal year 2022/23- In process,
anticipated completion by 5/30/2024
• Single Audit for federal funds for fiscal year 2022/23- In process
COMMITTEE UPDATES
• FY 2024/25 General Fund Operating Budget (Commissioners Anderson,
Kiehl, and Dorsey)
o The FY 2024/25 budget process is in process by City staff and
management. Initial requests have been received and are
incorporated into the draft budget as presented. After this meeting,
the committee will meet to cover revenue projections, expenditure
requests, and proposed uses of Measure G sales tax revenue.
o Finance Director to coordinate meeting timeline with committee
members
• 10-Year Projection Task Force (Commissioners Anderson, Batavick, and
Dorsey)
o Conducted initial meeting on January 20, 2023
o Additional meetings to be scheduled
• Financial Statement and Audit training - staff is currently researching
options
CITY COMMISSIONER SEATS
• The City is looking for interested citizens to fill vacancies on the following
City Commissions:
YOU CAN MAKE A DIFFERENCE!
APPLY FOR OPEN COMMISSION SEATS FOR THE CITY OF LA QLIINTA
The City of to Quints is locking for interested
citlzens to fill voconcies on the following Clty
Commissions.
Planning Commission - 3 Seats
Financial Advisory Commission - 4 Sea"
Arts & community S@Nlces commission - 3 Seats
Housing commission - 4 seats
Palm Springs Airport Commission - 1 Seat
Coachella Valley Conservation Commission Trails
Management Subcommittee - 2 Seats
C"Str4CHon Board or Appeaf5 -I Seat
Applications must be submitted by
June 19, 2024
Interviews will be conducted by the City
Council/Housing Authority on June 26,
2024, at 130 PM. Applicants must be
present for consideration.
For more information, visit
j loquintdca_gov/cam missions I
I or call the City Ctsrh's Meet W 760,777,7162
Application deadline: Jung 19, 2024
Three-year term ending June 30, 2027
IntenAaws wlll be conducted by the City Council & Housing Applicants must be a resident of to Quinta
Authority on June 26. 2024, at 3:30 pm and a registered voter.
For an application and more information please contact the City Clerk's
office at 760-777-7162 or visit: https://www.laguintaca.gov/commissions.
CITY UPDATES
• Hwy 111 Corridor Specific Plan; prior City Council and Planning
Commission joint meeting held on:
o September 26, 2023
o To date, expenditures related to the project are detailed in the Project
Activity Report (Attachment 1), in the amount of $860,667.91
Revenue allocations of Measure G do not yet include the most recent
quarter entry.
• The City is currently exploring the following:
o Feasibility of undergrounding utilities in various areas of the City;
prior City Council study sessions held on:
■ September 19, 2023
■ December 19, 2023
o Imperial Irrigation District (IID) power distribution substations in La
Quinta cost -share options for upgrades; prior City Council study
sessions held on
January 16, 2024. Agreement with IID pending, tentatively going
to Council on 5/21/2024.
Staff encourages the FAC members to view the meetings as time permits.
Tropical Storm Hilary — Federal Disaster Assistance
o The City is currently working with FEMA and meeting on a weekly
basis on the reporting and reimbursement process. More information
on the City's potential reimbursement will be provided at future
meetings.
• Strategic Plan Update- The City recently held its first Strategic Plan
Community presentation on 4/25/2024. As the Strategic Plan is developed,
presentations will be made to the various boards and commissions, with
plans to formally present to Council later this year.
It is important to note the items mentioned in this update are in addition to the daily
functions of the Finance Department, which include, but are not limited to, staff
report writing/review, payroll, accounts payable, accounts receivable, revenue
processing, journal entries, capital accounting, project accounting, purchasing,
investing, cash/treasury management, bank reconciliations, budgeting, research
and analysis, staff training and development, and general financial support for all
City departments.
4 Qu 4�(& City of La Quinta
ATTACHMENT 1
Project Activity Report
By Project Number
Report Dates: O7/01/2019 - 05/03/2024
Project Number
Project Name
Group
Type
Status
201905
Highway 111 Corridor Area Plan Implementati... Fund 401 Construction in Process
St Improvements
Active
Revenues
Account Key
Account Name
Category
Total Activity
201905MG
Measure G Funding
Measure
G - Measure G Funding
-801,533.20
GL Account Number
GL Account Name
Post Date
Description
Vendor Name
Item Number
Activity
401-0000-49500
Transfers In
03/31/2020
MG 201905 HWY 111 CORRIDOR PLAN
-1,980.00
401-0000-49500
Transfers In
06/30/2020
MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
-5,006.25
FY 19/20 Total:
-6,986.25
401-0000-49500
Transfers In
09/30/2020
MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
-11,715.00
401-0000-49500
Transfers In
12/31/2020
MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
-41,035.00
401-0000-49500
Transfers In
03/31/2021
MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
-7,955.00
401-0000-49500
Transfers In
06/30/2021
MG HIGHWAY 111 CORRIDOR AREA PLAN
-230,049.59
FY 20/21 Total:
-290,754.59
401-0000-49500
Transfers In
09/30/2021
MG 201905 HIGHWAY 111 CORRIDOR PLAN
-2,995.00
401-0000-49500
Transfers In
12/31/2021
MG 201905 HWY CORRIDOR AREA PLAN
-30,468.25
401-0000-49500
Transfers In
03/31/2022
MG 201905 HWY CORRIDOR AREA PLAN
-3,020.00
401-0000-49500
Transfers In
06/30/2022
MG 201905 HWY CORRIDOR AREA PLAN
-130,479.46
FY 21/22 Total:
-166,962.71
401-0000-49500
Transfers In
09/30/2022
MG 201905 HWY CORRIDOR AREA PLAN
-14,775.00
401-0000-49500
Transfers In
12/31/2022
MG 201905 HIGHWAY 111 CORRIDOR AREA
-4,537.50
401-0000-49500
Transfers In
03/31/2023
MG 201905 HIGHWAY 111 CORRIDOR AREA
-145,350.50
401-0000-49500
Transfers In
06/30/2023
MG 201905 HIGHWAY 111 CORRIDOR AREA
-120,554.00
FY 22/23 Total:
-285,217.00
401-0000-49500
Transfers In
09/30/2023
MG 201905 HIGHWAY 111 CORRIDOR AREA
-49,950.15
401-0000-49500
Transfers In
12/31/2023
MG 201905 HIGHWAY 111 CORRIDOR AREA
-1,662.50
FY 23/24 Total:
-51,612.65
Total Revenues:
-801,533.20
Expenses
Account Key
Account Name
Category
Total Activity
201905D
Design Expense
Design - Design Expense
783,389.16
GL Account Number
GL Account Name
Post Date
Description
Vendor Name
Item Number
Activity
401-0000-60185
Design
12/18/2020
2019-05 HWY 111 CORRIDOR PROJECT (PLAN&ENG)
GHD INC.
151505
8,290.00
401-0000-60185
Design
12/18/2020
2019-05 HWY 111 CORRIDOR PROJECT (PLAN&ENG)
GHD INC.
153361
25,600.00
401-0000-60185
Design
04/16/2021
02/2021 - HWY 111 PLANNING/ ENGINEERING SVCS
GHD INC.
158460
78,461.25
5/3/2024 6:15:00 PM
Page 1 of 5
Project Activity Report Report Dates: O7/01/2O19 - 05/03/2024
GL Account Number
GL Account Name
Post Date
Description
Vendor Name
Item Number
Activity
401-0000-60185
Design
04/16/2021
12/2020 - HWY 111 PLANNING/ ENGINEERING SVCS
GHD INC.
155454
32,923.75
401-0000-60185
Design
06/11/2021
04/2021 - HWY 111 PLANNING/ENGINEERING SVCS
GHD INC.
161990
75,409.84
401-0000-60185
Design
06/25/2021
05/2021 - HWY 111 PLANNING/ENGINEERING SVCS
GHD INC.
163575
34,827.25
FY 20/21 Total:
255,512.09
401-0000-60185
Design
10/08/2021
06/2021 - HWY 111 PLANNING/ENGINEERING SVCS
GHD INC.
165668
19,315.75
401-0000-60185
Design
10/29/2021
07/2021 - HWY 111 PLANNING/ENGINEERING SVCS
GHD INC.
380-0000621
8,620.00
401-0000-60185
Design
04/22/2022
03/24/22 - HWY 111 SITE TOUR LUNCH
BANK OF THE WEST (PLEASE SEE...
MAR-226925BM
207.43
401-0000-60185
Design
04/22/2022
03/24/22 - HWY 111 SITE TOUR TRANSPORTATION
BANK OF THE WEST (PLEASE SEE...
MAR-226925BM
460.00
401-0000-60185
Design
06/30/2022
03/2022 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0012735
41,235.83
401-0000-60185
Design
06/30/2022
06/2022 HWY 111 CORRIDOR PLANNING/ENGINERRIN...
GHD INC.
380-0016011
84,123.70
FY 21/22 Total:
153,962.71
401-0000-60185
Design
09/02/2022
07/2022 - HWY 111 CORRIDOR PLAN NING/ENGINERRI...
GHD INC.
380-0017688
12,962.50
401-0000-60185
Design
03/03/2023
09/2022 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0020901
49,617.50
401-0000-60185
Design
03/03/2023
10/2022 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0023845
51,571.25
401-0000-60185
Design
03/03/2023
11/2022 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0024095
18,251.25
401-0000-60185
Design
03/03/2023
12/2022 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0025445
9,171.25
401-0000-60185
Design
03/17/2023
01/2023 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0027217
12,726.75
401-0000-60185
Design
06/30/2023
02/2023 - HWY 111 CORRIDOR PLAN NING/ENGINEERI...
GHD INC.
380-0028778
18,667.58
401-0000-60185
Design
06/30/2023
03/2023 - HWY 111 CORRIDOR PLAN NING/ENGINEERI...
GHD INC.
380-0030405
9,366.25
401-0000-60185
Design
06/30/2023
04/2023 - HWY 111 CORRIDOR PLAN NING/ENGINEERI...
GHD INC.
380-0031910
22,207.51
401-0000-60185
Design
06/30/2023
05/2023 - HWY 111 CORRIDOR PLAN NING/ENGINEERI...
GHD INC.
380-0033492
22,721.95
401-0000-60185
Design
06/30/2023
06/2023 - HWY 111 CORRIDOR PLAN NING/ENGINERRI...
GHD INC.
380-0035378
42,803.21
FY 22/23 Total:
270,067.00
401-0000-60185
Design
09/08/2023
07/2023 HWY 111 CORRIDOR PLANNING/ENGINEERING.,
GHD INC.
380-0036834
49,312.65
401-0000-60185
Design
01/26/2024
10/2023 - HWY 111 CORRIDOR PLAN NING/ENGINEERI...
GHD INC.
380-0041445
54,534.71
FY 23/24 Total:
103,847.36
201905P
Professional Expense
Professional - Professional Expense
77,278.75
GL Account Number
GL Account Name
Post Date
Description
Vendor Name
Item Number
Activity
401-0000-60103
Professional Services
03/20/2020
02/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
8 JOB 2019-08
1,980.00
401-0000-60103
Professional Services
04/24/2020
03/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
9 JOB 2019-08
825.00
401-0000-60103
Professional Services
06/12/2020
05/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
11 JOB 2019-08
330.00
401-0000-60103
Professional Services
06/30/2020
06/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
12 JOB 2019-08
3,851.25
FY 19/20 Total:
6,986.25
401-0000-60103
Professional Services
09/04/2020
07/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
13 JOB 2019-08
9,240.00
401-0000-60103
Professional Services
09/25/2020
08/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
14JOB 2019-08
2,475.00
401-0000-60103
Professional Services
10/09/2020
09/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
15 JOB 2019-08
2,182.50
401-0000-60103
Professional Services
12/04/2020
10/2020 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
16 JOB 2019-08
4,962.50
401-0000-60103
Professional Services
01/15/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
17 JOB 2019-08
2,657.50
401-0000-60103
Professional Services
01/22/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
18 JOB 2019-08
720.00
5/3/2024 6:15:00 PM Page 2 of 5
Project Activity Report Report Dates: O7/01/2O19 - 05/03/2024
GL Account Number
GL Account Name
Post Date
Description
Vendor Name
Item Number
Activity
401-0000-60103
Professional Services
03/05/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
19 JOB 2019-08
980.00
401-0000-60103
Professional Services
03/19/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.20
3,597.50
401-0000-60103
Professional Services
04/23/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.21
2,072.50
401-0000-60103
Professional Services
05/28/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.22
1,657.50
401-0000-60103
Professional Services
06/18/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.23
1,850.00
401-0000-60103
Professional Services
06/30/2021
HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.24
2,847.50
FY 20/21 Total:
35,242.50
401-0000-60103
Professional Services
09/17/2021
07/2021 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.25
630.00
401-0000-60103
Professional Services
09/17/2021
08/2021 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.26
2,365.00
401-0000-60103
Professional Services
11/05/2021
09/2021 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.27
790.00
401-0000-60103
Professional Services
12/03/2021
10/2021 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.28
1,742.50
401-0000-60103
Professional Services
01/14/2022
11/2021 - HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.29
620.00
401-0000-60103
Professional Services
01/14/2022
12/2021 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.30
930.00
401-0000-60103
Professional Services
02/25/2022
01/2022 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.31
192.50
401-0000-60103
Professional Services
03/18/2022
02/2022 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.32
1,277.50
401-0000-60103
Professional Services
04/15/2022
03/2022 - HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.33
1,860.00
401-0000-60103
Professional Services
06/30/2022
05/2022 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.35
967.50
401-0000-60103
Professional Services
06/30/2022
06/2022 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.36
1,625.00
FY 21/22 Total:
13,000.00
401-0000-60103
Professional Services
08/26/2022
07/2022 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.37
1,812.50
401-0000-60103
Professional Services
10/07/2022
08/2022 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.38
1,700.00
401-0000-60103
Professional Services
10/28/2022
09/2022 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019.08.39
1,962.50
401-0000-60103
Professional Services
12/16/2022
12/2022 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.41
875.00
401-0000-60103
Professional Services
02/03/2023
12/2022 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.42
3,312.50
401-0000-60103
Professional Services
02/24/2023
01/2023 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.43
700.00
401-0000-60103
Professional Services
05/05/2023
03/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.45
2,137.50
401-0000-60103
Professional Services
05/05/2023
03/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.44
725.00
401-0000-60103
Professional Services
06/23/2023
05/2023 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.47
1,250.00
401-0000-60103
Professional Services
06/30/2023
06/2023 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.48
675.00
FY 22/23 Total:
15,150.00
401-0000-60103
Professional Services
08/25/2023
07/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.49
637.50
401-0000-60103
Professional Services
10/13/2023
08/2023 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.50
437.50
401-0000-60103
Professional Services
10/27/2023
09/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.51
700.00
401-0000-60103
Professional Services
11/17/2023
10/2023 - 2019-05 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.52
525.00
401-0000-60103
Professional Services
01/19/2024
11/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.53
887.50
401-0000-60103
Professional Services
01/19/2024
12/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.54
875.00
401-0000-60103
Professional Services
02/23/2024
01/2024 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.55
2,337.50
401-0000-60103
Professional Services
04/26/2024
03/2024 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
2019-08.57
500.00
FY 23/24 Total:
6,900.00
5/3/2024 6:15:00 PM Page 3 of 5
Project Activity Report
Report Dates: 07/01/2019 - 05/03/2024
Total Expenses: 860,667.91
201905 Total: 59,134.71
5/3/2024 6:15:00 PM Page 4 of 5
Project Activity Report
Report Dates: O7/01/2O19 - 05/03/2024
Summary
Project Summary
Revenue Over/
Project Number
Project Name Total Revenue
Total Expense
(Under) Expenses
201905
Highway 111 Corridor Area Plan Imp
801,533.20
860,667.91
-59,134.71
Project Totals:
801,533.20
860,667.91
-59,134.71
Group Summary
Revenue Over/
Group
Total Revenue
Total Expense
(Under) Expenses
Fund 401 Construction
in Process
801,533.20
860,667.91
-59,134.71
Group Totals:
801,533.20
860,667.91
-59,134.71
Type Summary
Revenue Over/
Type
Total Revenue
Total Expense
(Under) Expenses
St Improvements
801,533.20
860,667.91
-59,134.71
Type Totals:
801,533.20
860,667.91
-59,134.71
5/3/2024 6:15:00 PM Page 5 of 5
DEPARTMENTAL REPORT ITEM NO. 2
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEE'
DEPARTMENT REPORT
TO: Members of the Financial Advisory Commission
FROM Rosemary Hallick, Principal Management Analyst
DATE. May 8, 2024
SUBJECT: FOURTH QUARTER 2023 (OCTOBER-DECEMBER) SALES TAX
UPDATE FOR THE CITY OF LA QUINTA
The attached report was prepared by consultants HdL Companies as an update of
sales tax receipts for fourth quarter sales from October to December 2023.
• La Quinta's overall adjusted sales tax receipts for major industry groups
decreased 3.2% as compared to last year. As a comparison, Riverside
County was down 1.0% and the state was down 2.5%. The decrease was
spread between various categories such as restaurants, general consumer
goods, state & county pools, building and construction, and fuel & service
stations. Details may be found in the attached Sales Tax Update prepared
by HdL.
• The City's sales -per -capita remains higher than both the county and state
averages.
Per Capita Sales
La Cluirtta
Riverside County
Southern California
California
40 10 2Q 3Q 4Q 1Q 2Q 3Q 4Q 10 2Q 3Q
20 21 21 21 21 22 22 22 22 23 23 23
Periods shown relied the period in which the sales occurred - Point of Sale
• General consumer goods (such as department stores) made up 38% of
sales tax revenue and 44% of Measure G revenue.
• Autos and transportation made up 8% of sales tax revenue and 12% of
Measure G revenue.
• The City continues to benefit from online purchasing in the form of the
County pool share, which was 15% of our sales tax revenue.
$9.000
$8.000
$7.000
$6.000
$5.000
$4,000
$3,000
40
23
LSales Tax J
Autos
and
Transportation
Building
and
Construction
Business
and
Industry
Building
and I
Construction
and
Transportation
Food
and
Drugs
4Q23 Percent of Total
Fuel and
Service Business
Stations and
FIndustry
Restaurants
and
Hotels
4023 Percent of Total
Food Fuel and
and Serrrce
Drug s Stations
Restaurants
and
Hotels
General
Go nsurner
Goads
Measure G
General
Consu rner
Goods
The City continuously monitors local development, economic conditions, impacts
on travel and trade, and legislative and judicial news for any potential changes to
sales tax collections. The City's fiscal year 2023/24 budget was forecasted slightly
below 2022/23 actuals, based on known information as of Spring 2023, and will be
reviewed throughout the fiscal year if needed.
Fiscal year-to-date sales tax collections are shown in the chart below. Combined,
the City has received $18.5 million in sales and transactions taxes through
February 2024, as compared to $19.1 million in the same period last year.
Quarter
Payment
Bradley Burns 33060
Measure G 520
MG % of BB
3 July 2023 Advance
$
833,873
$
1,091,167
130.86%
3 August 2023 Advance
$
725,567
$
966,223
133.17%
3 September 2023 -3rd Qtr Payment
$
865,626
$
1,136,836
131.33%
3 Total
2023
$
2,425,066
$
3,194,227
131.72%
4 October 2023 Advance
$
1,099,316
$
1,342,070
122.08%
4 November 2023 Advance
$
979,253
$
1,227,838
125.39%
4 December 2023 4th Qtr Payment
$
1,273,172
$
1,677,790
131.78%
4 Total
2023
'$
3,351,741
�$
4,247,698
126.73%
1 January 2024 advance
$
1,222,359
$
1,512,916
123.77%
1 February 2024 advance
$
1,128,322
$
1,382,154
122.50%
1 March 2024 1st Qtr payment
1 Total
2024
$
-
$
-
2 April 2024 Advance
2 May 2024 Advance
2 June 2024 - 2nd Qtr Payment
2 Total
2024
$
-
$
YTD Total $ 8,127,488 $ 10,336,994
2023/24 Budget $ 15,700,000 $ 12,700,000
Attachment 1: HdL Q4 2023 Sales Tax Update
Attachment 2: HdL April 2024 California Forecast
ATTACHMENT 1
CITY OF LA QU I NTA
SALES TAX UPDATE
4Q 2023 (OCTOBER - DECEMBER)
06 0"a
—C -dJ:wnr.i—iffT—
IP
*Allocation aberrations
have been adjusted to reflect sales activity
SALES
TAX BY MAJOR BUSINESS GROUP
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
Legend
$200,000
Q4 2022*
$0
• Q4 2023*
General Restaurants
County
Building
Autos
Food
Fuel and
Business
Consumer and
and State
and
and
and
Service
and
Goods Hotels
Pools
Construction
Transportation
Drugs
Stations
Industry
CITY OF LA QUINTA HIGHLIGHTS
La Quinta's receipts from October through Consumers are choosing bargain grocery
December were 7.9% below the fourth stores and off brand items as they try to
sales period in 2022. Excluding reporting reduce their spending.
aberrations, actual sales were down 3.2%. The auto -transportation category reported
Consumers cut back and restaurant visits slight increases in the fourth quarter, while
as they look for more ways to save amid a the business -industry group remained flat.
higher cost of living.
The City's share of the countywide use tax
Economic uncertainties and fluctuations pool increased 0.5% when compared to the
in construction material costs have put a same period in the prior year. Measure G,
damperon sales from building -construction. the City's voter -approved transactions and
Totals from the general consumer goods use tax brought in an additional $4,639,871
category slipped as consumers dialed down in revenue.
spending. Net of aberrations, taxable sales for all of
Fuel prices in 4Q22 were, on average, Riverside County declined 1.0% over the
eighteen cents a gallon lower than in 4Q22, comparable time period; the Southern
reducing receipts from fuel -service stations.
California region was down 2.0%.
TOP 25 PRODUCERS
Best Buy
Marshalls
Circle K
PGA WEST Private
Costco
Clubhouse & Golf
Courses
Floor & Decor
Ross
Genesis/Hyundai of La
Target
Quinta
Hobby Lobby
TJ Maxx
Home Depot
Torre Nissan
Icon Golf Cars La Quinta
Tower Mart
In N Out Burger
Ulta Beauty
Kohls
Verizon Wireless
La Quinta Chevrolet &
Vons
Cadillac
Walmart Supercenter
La Quinta Resort & Club
Lowes
Madison Club
HdL° Companies
www.hdlcompanies.com 1888.861.0220 Published by HdL Companies in Spring 2024
(S) STATEWIDE RESULTS
California's local one cent sales and use
tax receipts during the months of October
through December were 2.5% lower than
the same quarter one year ago after adjusting
for accounting anomalies. The fourth quarter
is notably the highest sales tax generating
quarter of the year and exhibited diminished
year -over -year returns as consumers
balanced higher prices and financing costs
with essential household needs.
Higher interest rates impacted the auto -
transportation sector, especially luxury
vehicles, as the group dropped 6.2%.
Inventories for many dealers returned,
creating downward pressure on prices,
further constraining receipts. Lenders have
tightened credit standards, making loan
financing challenging. Improved leasing
activity was the lone bright spot. With slow
movement expected by the Federal Treasury
setting interest rate policy, future revenue
growth may stagnate.
Fuel and service stations contributed a
similar downturn, as lower fuel prices
reduced receipts from gas stations and
petroleum providers. While this has been
the trend throughout 2023, recently global
crude oil prices have been on the rise and
should see growth in the coming year. This
decline also impacted the general consumer
goods category as those retailers selling fuel
experienced a similar drop.
During this holiday shopping period, general
consumer goods experienced lackluster sales
as results pulled back 3.4%. Most sectors saw
reductions with home furnishings, women's
apparel, shoe and electronic -appliance
stores being the most significant. Returns
also marked the fourth consecutive quarter
showing comparable declines. Similar to the
anticipated trend of new vehicles, consumer
spending may be sluggish in the near term.
Even though revenue from most majorsectors pool collections contracted more taxes
slowed, restaurant sales remained steady
with a modest gain of 1.0%. Results from
casual dining establishments grew during the
early winter period as patrons enjoyed indoor
dining. However, following the greater trend
of consumers looking for value, fine dining
eateries experienced lower receipts. The
industry is still bracing for implementation
of AB 1228, a new law increasing minimum
wages for 'fast food restaurants', on April 1,
2024.
Use taxes remitted via the countywide pools
grew 1.0%, marking the first positive rebound
after four consecutive quarters of decline.
While overall online sales volume is steady,
Cons.Goods
allocated directly to local agencies via in -state
fulfillment and through existing retail outlets.
Statewide, calendar year 2023 ended with a
2.3% decline from 2022. Elevated inflation
and interest rates led to higher cost of goods
resulting in consumers not spending as much
as they had prior. Following multiple years
of post -pandemic tax growth assisted by
federal tax policy and temporary workplace
accommodations, consumers reassessed
their economic conditions and limited
purchases. As the Federal Reserve considers
delaying softening rates, consumer spending
could likely stagnate delaying a return to the
normal historical growth trend in 2024.
Pools
14%
Restaurants
Autos/Trans.
*ADJUSTED FOR
ECONOMIC DATA
La Quinta
County
HdL State
Business Type
Q4'23*
Change
Change
Change
Casual Dining
231.0
-5.6%ID
-2.1%4D
1.8%0
Leisure/Entertainment
140.0
1.9%0
-10.1%0
-0.6%4p
Electronics/Appliance Stores
137.7
-1.0%0
-5.3%0
-7.7%0
Service Stations
120.3
-11.0%ID
-4.4%4D
-4.9%ID
Family Apparel
101.7
6.0%0
-1.2%4D
-0.4%ID
Quick -Service Restaurants
97.0
3.6%0
1.8%0
0.4%0
Specialty Stores
88.4
1.9%19
0.5%0
-2.2%ID
Grocery Stores
82.9
-7.0%I0
-2.9%4D
-4.6%ID
Fine Dining
70.2
-5.5%0
-4.4%ID
-4.7%ID
Home Furnishings
37.0
-34.3%0
-13.4%ID
-10.1%0
*Allocation aberrations have been adiusted to reflect sales activitv
-In thousands of dollars
r '
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- "� ,� � A ��• t 'T�,_ ,.� � •ter-' ; ;� ����y�,.'� a ' � ,, �°° ,� •": , - •
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. :• fab= � .,�h�s.. � � of Ya l�g+' �a ,`. • f � �' - �� � I ~. ~ � � .a .�R - .n .
Pk
tSonoma, CA
rk•
HdU Companies
Los 888.861.0220 solutions@hdlcompanies.com I hdlcompanies.com
HdP STATEWIDE
Companies SALES TAX TRENDS
Overview: As 2024 unfolds, many of the same economic conditions remain in play, with varying effects on the overall outlook.
Monitoring the Fed to gauge when interest rates will recede is a primary focus. Monthly unemployment trends and inflation
results will determine how swiftly and significantly borrowing costs decrease. Results from the final quarter of 2023 confirmed
a shift in consumer behavior, with people opting for essential household items over more expensive purchases. With the
exception of Business/Industry and Restaurants/Hotels, all other groups saw negative comparisons to the fourth quarter of
2022. Consumer debt has soared while personal savings dwindle, suggesting only modest gains in the coming fiscal year.
2023/2412024/25
IR Autos/Transportation - 2.0%
The pricing dynamics of new vehicles, particularly within electric and
I uxu ry segments, are adjustingfol lowing a period of significant inflation.
Simultaneously, as dealership inventories stabilize, manufacturers are
intensifying incentives, leading to reduced transactional values and
impacting tax receipts. Dealerships are facing heightened competition
and prevailing high lending rates, prompting potential buyers to
exercise caution. Reports indicate a substantial tightening of credit
conditions, affecting even creditworthy borrowers and contributing to
a deceleration in market activity. Projections suggest a gradual market
normalization through 2024, a modest resurgence anticipated in the
latter half of the year driven by expected reductions in financing rates.
ABuilding/Construction -1.3% 1 3.1%
Strong demand for repairs to address storm -damaged roofing
bolstered the construction sector. Both material suppliers and roofing
contractors reported a second consecutive quarter of new business
leading to long wait lists. Contractors are optimistic about new project
bids for infrastructure work funded by the Infrastructure Investment
and Jobs Act, as they drive more business for asphalt and concrete
batch plants. Conversely, home improvement centers and lumber
retailers experienced declines. Mortgage rates are decreasing, but not
enough to stimulate new construction. When the Fed indicates that
conditions warrant a reversal of prior rate hikes, a swift response from
this sector is anticipated. Expansion in statewide construction activity
is projected for FY 2026-27.
* Business/Industry 0.5% 1 1.7%
Following several years of expansion, this group experienced a 2.2%
dip. Of the group's 21 different sectors, only six landed in positive
territory. Fulfillment centers, accounting for 31% of total revenues,
ended the quarter essentially even as ecommerce continued to fill
more orders from warehouses based in California. The largest gain
occurred in energy/utilities, driven by regional energy/solar projects.
Most significantly, the medical/biotech sector contracted asequipment
and supply needs tapered off. Both heavy and light industry faced
inventory, pricing, and demand challenges, while sales in business -
to -business and office equipment/IT slowed down. Considering the
influencing variables for these various sectors, HdL projects limited
growth for the current year followed by slow expansion in succeeding
years.
Food/Drugs -2.7% 1 1.5%
Although inflation has softened, consumer spending at grocery stores
declined 5% in Q4 of 2023. Shoppers, anticipating flat sales, pulled
back on spending. Convenience -liquor stores experienced diminishing
profits as younger adults turned to caffeinated non-alcoholic drinks.
Cannabis retail sales saw a dismal 10% decrease as businesses and
investors alike endure ongoing challenges from the illicit market.
Furthermore, as one major drug store chain begins closing multiple
locations across the state, consumers are turning to competitors or
ecommerce. As this sector right -sizes through closures, mergers, and
building consumer confidence, anticipate fewer taxes to be captured
in the current year before gradually rising in the coming fiscal year.
2023/2412024/25
Fuel/Service Stations -2.6% 1 1.4%
This sector experienced an overall reduction in the fourth quarter,
primarily due to the initially skyrocketing, then plummeting prices of
regular and diesel fuel. Oil barrel costs rose more than anticipated,
which mitigated the overall reduction in sales tax. A normal historical
pattern of prices at the pump, including a boost in the spring and
summer months followed by a drop in late fall and early winter, is
anticipated throughout calendar years 2024 and 2025. We forecast a
minor overall increase in FY 2024 - 25 before returning to stable 2%
growth in the outer years.
General Consumer Goods -1.8% 1 1.6%
Core retail categories fell short of expectations for the 2023 holiday
quarter, leading to a contraction in direct local tax allocations across
nearly all business types. This reinforces the anticipated pullback and
tightening of family budgets. Recent CPI readings suggest that core
goods prices are flat, so expect near -term results to be more influenced
by changes in consumption rather than price. While borrowing costs
remain elevated and access to cheap credit is now a thing of the past,
the forecast lowered near -term expectations for the current fiscal
year. The sooner the Fed implements rate cuts, the sooner consumers
could feel some relief and return to purchasing beyond essential
goods. The outlook expects mild growth in the 2024-25 fiscal year.
Restaurants/Hotels 1.9% 1 3.3%
Nationally, rising menu prices are reaching a tipping point where
diners are opting to eat out less frequently. In California, this
is worsened by the upcoming minimum wage hike for fast food
restaurants, effective April 1. Savvy restaurateurs are strategically
implementing increases to mitigate sticker shock while preparing for
the rising operating costs. Meanwhile, other establishments have
responded with significant, noticeable menu price surges, garnering
attention nationwide. As consumers still desire to eat out and travel,
they are making more cost-conscious decisions, resulting in slower
growth.
State and County Pools -0.4% 1 2.0%
Ecommerce as a means of purchasing products remained strong.
Online holiday spending across the country grew 5%when compared
to the same period last year. More sales were made via mobile than
desktop for the first time. Additionally, "buy now pay later" emerged
as a popular alternative to credit card or cash usage; however,
payment obligations rise in the spring and summer months. Year-
to-date pool receipts declined in the first two quarters, affected by
taxpayer filing changes and significant reductions in private party
auto sales. Expansion of Al and voice search deployment along
with improvements in personalized customer experiences through
technology investments are expected to bolster future use taxes
generated via online transactions. The slight downturn for FY 2023-
24 should turn positive next year.
HdL Companies California Forecast
April 2024
4 NATIONALAND STATEWIDE
AN ONEcar4omiCs ECONOMIC DRIVERS
2023/2412024/25
U.S. Real GDP Growth 2.5% 11.9%
�• Real GDP grew at an annual rate of 3.2% in 4Q2023, driven by increases
in consumer spending, exports, and local and state government
expenditures. Despite a decline in confidence, consumer spending
rose a solid 2.6%, inflation adjusted, over the past year. Top categories
for spending growth include recreational vehicles and goods (12%),
new cars (4%), restaurants and hotels (4%) and recreational services
(4%). The U.S. will almost certainly experience a reasonable pace of
GDP growth in 2024, led by solid growth in consumer demand. Labor
markets will remain tight, industrial production will be steady, and long
run interest rates will likely stay in the same range. In many ways 2024
will resemble 2023 with a steady, moderately expanding economy.
Strong consumer demand suggests inflation will be running hotter
than the 2% pace that the Federal Reserve hopes to achieve.
CA Unemployment Rate 5.2% 1 5.4%
The unemployment rate in California has steadily increased
since reaching a low of 3.8% in August 2022. In February 2024,
unemployment reached 5.3%, marking a 0.8 percentage -point
increase year -over -year, and a 0.1 percentage -point increase from
the previous month. The state's unemployment rate remains elevated
compared to the 3.9% rate in the United States overall. California
continues to struggle with its labor supply, which fell by 6,900 in
February. Since February 2020, the state's labor force has declined
by 243,400 workers, a 1.2% decrease. This lack of growth can be
attributed to the low number of housing permits issued in California;
a workforce cannot grow if there is nowhere for workers to live.
CA Total Nonfarm
Employment Growth 0.8% 1 0.7%
California's total nonfarm employment has grown 20.3% since the
economic recovery from the pandemic began. As of February 2024,
California had recovered all the jobs that were lost in March and
April 2020, and there are now 294,100 more people employed in
the state compared to pre -pandemic February 2020. Total nonfarm
employment in California has grown 1.7% over this time compared
to a 3.6% increase nationally. Job growth has experienced a drag as
the labor force has declined in California. Given the sluggishness in
labor force growth, the labor market in California is likely to continue
cooling.
2023/24 1 2024/25
U.S. Unemployment Rate 3.9% 1 4.2%
Unemployment in the nation remains low despite a slight increase
from 3.7% in January to 3.9% in February. In January, there were
1.44 job openings for every unemployed person, indicating a tight
labor market, despite higher interest rates. The U.S. job openings
rate was 5.3%; lower than its peak in March 2022, but still higher
than before the pandemic. Tight labor markets will continue to push
up real earnings, which grew at rate of 3.6% in 2023. The labor force
participation rate remained steady at 62.5%, slightly below the 63.3%
rate right before the pandemic began, which is surprising given the
strong real earnings growth.
CA Residential
Building Permits
110,931 1 112,638
Excess demand for housing continues to be a significant issue in
California. Although the number of residential permits in the state
remains above pre -pandemic levels, there are concerns that the
current level is insufficient to close the demand gap. Residential
permits rose sharply after 2020 and this trend has persisted,
reaching an all-time high at the end of 2023. In the fourth quarter of
2023, the number of residential permits increased slightly at a rate
of 6.8% year -over -year. Given the recent easing of mortgage rates,
residential permits will likely continue to expand, and a moderate
increase in permits is expected in the near term.
CA Median Existing
L ❑J Home Price $717,1731$762,767
Watch our webinar
for more info!
Following the pandemic recession, the median price of a single-family
home in California peaked at $837,600 in April 2022. That median
declined steadily for nearly a year, reaching $693,800 in January 2023.
Since then, price growth has accelerated, with the state's median
price rising 11.3%year-over-year by February 2024. Currently, home
prices are 38.9% above their pre -pandemic peak in February 2020,
with a median price of $784,500. The state's severe housing shortage
is the primary reason prices have exhibited robust growth despite
high mortgage rates and declining sales. Existing homeowners are
reluctant to sell because they are "locked -in" to low mortgage rates,
further exacerbating the housing shortage.
HcIL Companies California Forecast
April 2024
HdE° Comp
Delivering Insight, Revenue, and Efficiency
to Local Government
HdL Companies
888.861.0220 1 solutions@hdlcompanies.com I hdlcompanies.com
California's allocation data trails actual sales activity by three to six months. HdL compensates for the lack of current information
by reviewing the latest reports, statistics and perspectives from fifty or more economists, analysts and trade associations to reach
a consensus on probable trends for coming quarters. The forecast is used to help project revenues based on statewide formulas
and for reference in tailoring sales tax estimates appropriate to each client's specific demographics, tax base and regional trends.
Beacon Economics LLC
310.571.3399 1 BeaconEcon.com
Beacon Economics has proven to be one of the most thorough and accurate economic research/analytical forecasting firms in
the country. Their evaluation of the key drivers impacting local economies and tax revenues provides additional perspective to
HdL's quarterly consensus updates. The collaboration and sharing of information between Beacon and HdL helps both companies
enhance the accuracy of the work that they perform for their respective clients.
HAND OUTS
FAC
MEETING
MAY 81 2024
FINANCIAL ADVISORY COMMISSION MEETING - MAY 8, 2024 - HANDOUT 1 BY COMMISSIONER BATAVICK -
COMMISSIONER'S ITEM NO. 1
Financial Advisory Committee Members,
The Financial Advisory Commission (FAC) provides oversight of Measure G tax
revenue. Measure G was passed by voters in November 2016 and provides a 1 %
transactions and use tax, effective April 1, 2017 and with no sunset date, which is fully
allocated to the City and protected from State takeaways. Measure G revenues are to
be used in accordance with the ballot measure for public safety, Capital Improvement
Projects and other general expenditures supporting our businesses and residents.
For the fiscal years 2016/17 through 2022/23, Measure G revenues totaled $77
million. During these fiscal years Measure G uses have been for public safety services
($21 million) and Capital Improvement Projects ($27 million), with the balance of these
revenues ($29 million) in reserves.
For fiscal year 2023/24, as of January 31, 2024, Measure G revenues are about $9
million, with uses of $5 million for public safety and $6.3 million for Capital Improvement
Projects, resulting in a current reserve balance of $25 million.
The FAC's Measure G Sales Tax Compliance Report for Fiscal Year 2022/23
included a recommendation for the City to "explore the use of Measure G reserve funds
to prioritize additional funding to accelerate Capital Improvement Projects, including for
major street improvements."
At the April 3, 2024 FAC Meeting, there was a discussion of projects to be included
in Fiscal Years 2024/25 through 2028/29 Capital Improvement Program. The proposed
projects are estimated to use only $19.2 million of Measure G funds. Assuming a
starting point of March 31, 2024 of $25 million in Measure G reserves, and a
conservative estimate of Measure G revenues over these next 5 fiscal years of $70
million ($14 million per fiscal year), spending only $19.2 million of Measure G funds for
our Capital Improvement Program, and an estimated $30 million for public safety
services ($7 million per fiscal year), would result in a projected Measure G reserve
balance of $50 million at June 30, 2029. We strongly encourage the additional use of
Measure G funds, while they are available and while economic conditions support it.
Accordingly, we recommend a greater use of Measure G funds for the 5-year Capital
Improvement Program by allocating certain spending from the General Fund to
Measure G funds. Specifically, we suggest the $2 million dollar per year Pavement
Management Street Improvements ($10 million in total) be earmarked from Measure G
funds/reserves. Also, we suggest accelerating the $3 million payment for the Phase II I
Public Safety Camera System expenditure in Fiscal Year 2025/26, to Fiscal Year
2024/25. We lastly suggest designating an additional use of Measure G funds for both
the Maintenance and Operations Yard (which is currently projected to use $4 million of
General Funds in addition to $4.4 million in Measure G funds), and the Fritz Burns Park
Improvements (which is currently projected to use $2 million of General Funds in
addition to $2.5 million of Measure G Funds).
These suggestions utilize an additional $16 million of Measure G funds/reserves for
our Capital Improvement Program over the next 5 fiscal years, reducing the projected
Measure G Reserve balance at June 30, 2029 of $50 million to $35 million. This
balance could be utilized for long-term capital projects discussed at the recent
Community Workshop such as addressing the Imperial Irrigation District (IID) lease
expiration and equipment needs and plan to underground utilities.
FINANCIAL ADVISORY COMMISSION MEETING - MAY 8, 2024 - HANDOUT 2 BY COMMISSIONER BATAVICK -
COMMISSIONER'S ITEM NO. 1 CITY OF LA QUINTA
CAPITAL IMPROVEMENT PROGRAM
REVENUE SUMMARY
Community
General Fund Measure G /Cultural SB 1 Road
Maintenance
DIF and Facilities
Other
Other
Project # Project Description Operating Sales Tax Center DIF Maint/Rehab Transportation DIF Measure A Revenue Revenue Source Total
2024/2025
2425ADA ADA Accessible Ramps - Various Locations 20,000 20,000
2425CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000
2425PMP Pavement Management Plan Street Improvements 2,000,000 2,000,000 2,000,000
2425STI Sidewalks - Various Locations 55,000 55,000
2425TMI
Citywide Traffic Signal Maintenance Improvements
235,000
235,000
2425DRA
Citywide Drainage Enhancements
477,000
2,000,000 Earmark Funding 2025
2,477,000
201702
Developer Reimbursement for DIF Eligible Improvements
400,000
400,000
201804
Landscape and Lighting Median Island Improvements
500,000
500,000
201805
Maintenance and Operations Yard
500,000
400,000 900,000
100,000
1,000,000
201901
Cultural Campus
1,000,000 500,000
1,500,000
201905
Highway 111 Corridor Area Plan Implementation (for 2022-25)
3,050,000 950,000
4,000,000 Earmark Funding 2024
8,000,000
202101
Dune Palms Pavement Rehabilitation (Miles Avenue to Fred Waring Drive)
200,000
200,000
202102
Fritz Burns Park Improvements
2,000,000
2,500,000 4,500,000
500,000 Reprogram project 202304
5,000,000
202205
Avenue 50 Widening Improvements (Jefferson Street to Madison Street)
579,109
579,109
202401
Avenue 50 Sidewalk Improvements (Washington Street to Avenida Montero)
400,000
400,000
202402
Washington Street Sidewalk Improvements (Calle Tampico to Avenue 52)
478,000
Reprogram of 23/24 S131 funds
478,000
202403
Cove Area Slurry Seal Improvements Phase 1
950,000
950,000
202404
City Hall Drainage Improvements
1,000,000
1,000,000
202405
Citywide Miscellaneous ADA Improvements
175,000 CDBG
175,000
202406
Citywide Miscellaneous Concrete Improvements
1,000,000
1,000,000
202407
Citywide Dog Park Improvements
500,000
1,000,000 Reprogram project 202310
1,500,000
202408
Village Parking Lot Utility Undergrounding
500,000
500,000
202409
Welcome Center Improvements
750,000
750,000
202410
Avenue 52 at Jefferson Street Roundabout Improvements
600,000
600,000
202411
SilverRock Way Slurry Seal Improvements
500,000
500,000
202505
Phase III Public Safety Camera System
3,000,000
FY 2024/2025 SUBTOTAL: 8,052,000 8,200,000 500,000 1,428,000 1,579,109 100,000 2,285,000 7,725,000
3,552,000 15,700,000
2025/2026
29,869,109
32,869,109
2526ADA ADA Accessible Ramps - Various Locations 20,000 20,000
2526CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000
2526PMP Pavement Management Plan Street Improvements 2,000,000 2,000,000 2,000,000
2526STI Sidewalks - Various Locations 55,000 55,000
2526TMI
Citywide Traffic Signal Maintenance Improvements
235,000
235,000
2425DRA
Citywide Drainage Enhancements 477,000
477,000
201702
Developer Reimbursement for DIF Eligible Improvements 400,000
400,000
201804
Landscape and Lighting Median Island Improvements 500,000
500,000
201805
Maintenance and Operations Yard 3,500,000 4,000,000 7,500,000
7,500,000
201905
Highway 111 Corridor Area Plan Implementation 1,000,000
1,000,000
202501
Citywide Striping Refresh
500,000
500,000
202502
Highway 111/Simon Drive Dual Left Turn Lanes
723,850
723,850
202503
Cove Area Slurry Seal Improvements Phase 2 950,000
950,000
202504
Avenue 47 Pavement Rehabilitation (Washington Street to Adams Street)
512,617
512,617
202505
Phase III Public Safety Camera System 3,000,000
3,000,000
202506
Washington Street at Lake La Quinta Drive (New Traffic Signal) 430,000
430,000
202507
Francis Hack Lane Pavement Rehabilitation (Avenida Bermudas to Cul-De-Sac)
580,000
580,000
202508
Corporate Centre Drive Gap Closure 1,000,000
1,000,000
202509
5-Year PMPUpdate
75,000
75,000
FY 2025/2026 SUBTOTAL: 6,552,000 8,000,000
1,052,000 10,500,000
2026/2027
0 950,000 1,830,000
2,626,467 50,000
20,008,467
17,008,467
2627ADA ADA Accessible Ramps - Various Locations 20,000 20,000
2627CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000
2627PMP Pavement Management Plan Street Improvements 2,000,000 2,000,000 2,000,000
FINANCIAL ADVISORY COMMISSION MEETING - MAY 8, 2024 - HANDOUT 2 BY COMMISSIONER BATAVICK -
COMMISSIONER'S ITEM NO. 1 CITY OF LA QUINTA
CAPITAL IMPROVEMENT PROGRAM
REVENUE SUMMARY
Community
General Fund Measure G /Cultural SB 1 Road
Maintenance
DIF and Facilities
Other
Other
Project #
Project Description
Operating Sales Tax Center DIF Maint/Rehab Transportation DIF Measure A Revenue Revenue Source
Total
2627STI
Sidewalks - Various Locations
55,000
55,000
2627TMI
Citywide Traffic Signal Maintenance Improvements
235,000
235,000
2627DRA
Citywide Drainage Enhancements
477,000
477,000
201702
Developer Reimbursement for DIF Eligible Improvements
400,000
400,000
201804
Landscape and Lighting Median Island Improvements
500,000
500,000
201905
Highway 111 Corridor Area Plan Implementation
1,000,000
1,000,000
202601
North La Quinta Slurry Seal Improvements/Pavement Repair
1,500,000
1,500,000
202602
Citywide Arterial Slurry Seal Improvements
1,000,000
1,000,000
FY 2026/2027 SUBTOTAL: 3,052,000 1,000,000
1,052,000 3,000,000
2027/2028
0 1,000,000 400,000
1,735,000 50,000
7,237,000
2728ADA
ADA Accessible Ramps - Various Locations
20,000
20,000
2728CPM
Citywide Preventative Maintenance Plan Improvements
50,000 Equip Replacement Fund 50,000
2728PMP
Pavement Management Plan Street Improvements
2,000,000 2,000,000
2,000,000
2728STI
Sidewalks - Various Locations
55,000
55,000
2728TMI
Citywide Traffic Signal Maintenance Improvements
235,000 235,000
2728DRA
Citywide Drainage Enhancements
477,000
477,000
201702
Developer Reimbursement for DIF Eligible Improvements
400,000 400,000
201804
Landscape and Lighting Median Island Improvements
500,000
500,000
201905
Highway 111 Corridor Area Plan Implementation
1,000,000
1,000,000
202701
Washington Street Pavement Rehabilitation Project (Sagebrush Lane to Fred Waring Drive)
994,367 2,000,000 2,994,367
FY 2027/2028 SUBTOTAL: 3,052,000 1,000,000
1,052,000 3,000,000
2028/2029
0 994,367 400,000
2,235,000 50,000
7,731,367
2829ADA ADA Accessible Ramps - Various Locations 20,000 20,000
2829CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000
2829PMP Pavement Management Plan Street Improvements 2,000,000 2,000,000 2,000,000
2829STI Sidewalks - Various Locations 55,000 55,000
2829TMI Citywide Traffic Signal Maintenance Improvements 235,000 235,000
2829DRA Citywide Drainage Enhancements 477,000 477,000
201702 Developer Reimbursement for DIF Eligible Improvements 400,000 400,000
201804 Landscape and Lighting Median Island Improvements 500,000 500,000
201905 Highway 111 Corridor Area Plan Implementation 1,000,000 1,000,000
202701 Washington Street Pavement Rehabilitation Project (Sagebrush Lane to Fred Waring Drive) 998,053 1,995,502 2,993,555
FY 2028/2029 SUBTOTAL:
3,052,000 1,000,000 0 998,053
1,052,000 3,000,000
400,000 2,230,502 50,000 7,730,555
TOTAL FISCAL YEARS 2024/25 THROUGH 2O28/29: 23,760,000 19,200,000 500,000 5,370,420 4,609,109 100,000 11,111,969 7,925,000 72,576,498
7,760,000 35,200,000
POWER POINTS
FAC
MEETING
MAY 89
2024
Financial Advisory Commission Meeting
May 8, 2024
Financial Advisory Commission Meeting
5/8/2024
Business Session Item No. 1
Approve The Fiscal Year 2024/25 Meeting Dates
:,
_ _ �4t-
Proposed Meeting Dates
Wednesday
August 14
Quarterly
Wednesday
October 2
Special
Wednesday
November 13
Quarterly
Wednesday
December 4
Special
Wednesday
February 12
Quarterly
Wednesday
April
Special
Wednesday
May 7
Quarterly
Wednesday
June 11
Special
QUESTIUNS &
DISCUSSION
Financial Advisory Commission Meeting
5/8/2024
Study Session Item No. 1
Discuss The Fiscal Year 2024/25 Investment Policy
..... . . . . . .
5/8/2024
Agency Bond Holdings
As of 4/30/24
Federal Farm Credit Bank $20,000,000
Federal Home Loan Bank $20,000,000
Federal National Mortgage Association $12,000,000
Federal Home Loan Mortgage Corporation $ 9,400,000
Total Agency Bonds $61,400,000
Portfolio (Rounded) $230,000,000
26.70%
GSE and SUPRA Total Debt
Outstanding
4/312024 Debt Outstanding TOTAL ISSUES WTI) AVG FXb WTQ AVG MTY WT❑ AVG YRS
$ Billions' COUP
Total: 2,304 21.383
Appendices
• Removed reference to Bank of the West, as
transition to BMO is now complete
• Removed BNY Mellon as an approved
custodian bank, assets have been transferred
to US Bank
• Change staff title from Accounting Manager to
Finance Manager
Financial Advisory Commission Meeting
5/8/2024
Study Session Item No. 2
Discuss The Fiscal Year 2024/25 Preliminary
Proposed Budget
5/8/2024
5/8/2024
�ai�a�ri■�RIu!■11110M•
-
General Fund Expenditures
2023/24
2023/24
2024/2
Change
Currentv.
Original
owsed
City Council
317,900
317,900
346,400
28,500
City Manager Department
1,588,360
1,588,360
1,641,100
52,740
Marketing & Community Relations
1,814,660
1,814,660
1,932,600
117,940
CityAttomey
800,000
800,000
800,000
-
City Clerk Department
1,169,670
1,169,670
1,406,570
236,900
Human Resources
651,800
701,300
745,900
44,600
Police
18,583,800
18,618,300
19,643,300
1,025,000
Fire
9,889,120
10,247,120
10,547,110
299,990
Community Services Admin.
888,160
1,038,160
716,400
(321,760
Wellness Center Operations
837,870
837,870
683,600
(154,270
Recreational Programs & Events
1,578,150
1,578,150
1,956,000
377,850
Code Compliance/Animal Control
1,713,340
1,713,340
1,821,340
108,000
Public Safety Admin
322,300
322,300
269,890
(52,410
Parks Maintenance
4,144,950
4,219,450
4,649,300
429,850
Public Buildings
1,715,750
1,715,750
1,875,750
160,000
Public Works Administration
821,900
821,900
835,797
13,897
Public Works Dev. Services
532,900
532,900
539,383
6,483
Streets Department -Traffic
885,750
885,750
1,036,550
150,800
Engineering Services
1,007,600
1,404,100
1,234,400
(169,700
Design & Development Admin.
811,600
811,600
826,800
15,200
Planning
707,400
707,400
856,900
149,500
Building
1,398,700
1,398,700
1,513,600
114,900
The Hub
1,341,700
1,341,700
1,499,875
158,175
Finance
1,957,270
1,957,270
2,103,500
146,230
Centralized Services
17,348,100
44,253,481
21,770,600
(22,482,881
W Total Expenditures
72,828,750
100�31
81,252,665
(19,544,466
• Annual step
increases &
CaIPERS rate
increase
• Labor market
adjustments
• Contract rate
increases
Rise in cost of
supplies &
materials
One-time
expenditures
such as election
costs, fee
studies,
equipment
replacement
• One-time
purchases in FY
2023/24
(machinery/equip
ment & park
upgrades)
• Insurance
premium
reduction
5/8/2024
Police $1,025,000
Fire $299,990
City Clerk $236,900
Recreation Programs & $377,850
Special Events
Parks Maintenance $429,850
Streets- Traffic $150,000
Salary & Benefits, estimated 5% rate increase
Salary & Benefits, disaster prep supplies, roof repairs, and Emergency
Operations Center enhancements
Salary & Benefits, election services for November 2024,
comprehensive fee study, STVR compliance software enhancements
Expanded hours, increased events, conversion of P/T to F/T staff
(reduction in Wellness Center Operations), and pool contract increase
(year-round programming)
Pending landscape contract to include increased service levels and
tree inventory asset management
Storm drain cleaning and sign inventory replacement
a
General Fund Summary
GENERALFUND
FY 2023124 PROPOSED BUDGET SUMMARY
80,714,300
•.- - Expenses..
BUDGET SURPLUS $ (538,365) r "'
MEASURE G SALES TAX SUMMARY ;
Available for Appropriation
FY 2024/25
Budget Schedule
• May 21 — City Council, Study Session #1
• June 4 — City Council, Study Session #2
• June 5 — Financial Advisory Commission 1
• June 12 — Housing Commission
`N,
• June 18 — City Council, Adoption
For the latest budget information visit:
www.laquintaca.gov/business/finance/budget
Discussion &
Questions
Financial Advisory Commission Meeting
5/8/2024
Departmental Report Item No. 2
Fourth Quarter 2023 (October -December) Sales Tax
Update for the City of La Quinta
5/8/2024
12
Sales and MG as Compared to Budget
Sales Tax MG
Thru February 22-23 $ 8,522,411 $ 10,592,307
Thru February 23-24 $ 8,127,488 $ 10,336,994
Variance -4.63% -2.41 %
Budgeted Variance -0.78% -2.41 %
*Covers cash receipts through April 2024 for the sales period of February
The Financial Advisory Commission
Will Hold a Special Meeting on
June 5,2024
C
K AL
_ _- - CALIFORNIA