Page 31 - FY 2021-22 Supporting Information

stabilize Users’ the every the into may include Projected Ongoing Growth $ 73,650.00 $ 31,520.00 $ 13,010.00 $ (255.54) $ (19,220.00) $ 66,760.00 $ 49,555.00 $ (68,060.00) $ 4,070.00 $ (2,663.00) $ 148,366.46

to Utilities exceeds For Budget not 3.08% - 4.10% = -1.02%
upon Tax, taxes Fund. deposited the Threshold. does 5% x $47,219,430 = $2,360,970

drawn Fund the into be Threshold, Budget Ongoing 1.02 below, 1 x 5% = 5% of Lost Revenue

be Property must Growth Revenue $ 1,829,650.00 $ 570,600.00 $ 108,910.00 $ 2,942.00 $ 595,400.00 $ 708,600.00 $ 606,610.00 $ 176,800.00 $ 219,905.00 $ 99,337.00 $ 4,918,754.00
then taxes: General deposit revenue Growth the Proposed

can a below The
that Fund seven include excess Ongoing growth million. 2021-22 Less One-Time Revenue $ - $ - $ 3,080.00 $ - $ - $ - $ - $ - $ - $ - $ 3,080.00 Value $ 195,585.89 $ 148,366.46 $ (47,219.43)

growth General the from must that of Annual of $2.36

economic robust economy-sensitive, Tax. receipts cumulative budget the years), 20 value the of percent Average the of percent one each to up of Fund Proposed Budget $ 1,829,650.00 $ 570,600.00 $ 111,990.00 $ 2,942.00 $ 595,400.00 $ 708,600.00 $ 606,610.00 $ 176,800.00 $ 219,905.00 $ 99,337.00 $ 4,921,834.00 Percent 4.10% 3.08% -1.02% *The City Council approved the 202

2021-22 PROPOSED BUDGET BUDGET STABILIZATION FUND POLICY of periods during savings seven from revenue Users’ Parking and Tax, the in growth when prior the over growth five Threshold, Growth short falls receipts these for revenue lost the of value the from withdrawal a Ongoing Revenue $ 1,756,000.00 $ 539,080.00 $ 95,900.00 $ 3,197.54 $ 614,620.00 $ 641,840.00 $ 557,055.00 $

set aside excess of Documentary 5.120.4, annual ongoing Ongoing of growth the of included have 2020-21 Less One-Time Revenue $ 2,000.00 $ - $ - $ - $ - $ 44,700.00 $ - $ - $ - $ - $ 46,700.00 Average Annual Ongoing Growth Thresh
to When percent could Projected Difference from Average Step 4: Calculate the permitted withdrawal by multiplying the percent that may be withdrawn by the value of the lost revenue:
is comprised Tax, Section Annual Step 2: Calculate the difference between the projected ongoing growth and the Average Ongoing Growth Threshold:
(Fund) is Code average growth. five of Budget policy. the Adopted Budget $ 1,758,000.00 $ 539,080.00 $ 95,900.00 $ 3,197.54 $ 614,620.00 $ 686,540.00 $ 557,055.00 $ 244,860.00 $ 215,835.00 $ 102,000.00 $ 4,817,087.54 Step 3: For each 1% of ongoing revenue growth below the Threshold, 5% of lost revenue may be withdrawn:

Fund Fund This Occupancy (the Average the excess amount Proposed with

Stabilization downturns. Transient Administrative Threshold Growth exceed the of the in fund 2021-22 complies and Total

Budget economic Tax, Sales Angeles revenues percent 25 the from the Fund Step 1, Identify the projected ongoing growth percentage:

the Tax, Los Ongoing that exceed below, the Calculation of the Permitted Withdrawal
of during the Annual percent withdrawal from Seven General Fund Taxes State Motor Vehicle License Fees
purpose Business to half to not a demonstrated withdrawal Property Tax 1% VLF Replacement Tax Increment Utility Users Tax Transient Occupancy Tax Documentary Transfer Tax Parking Occupancy Tax

The revenues Tax, Pursuant Average one Fund, include As a Property Tax Business Tax Sales Tax

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