Page 31 - FY 2022-23 Supporting Information

revenues Business the exceeds one every to Fund, not a include this in Projected Ongoing Growth $ 49,545 $ 16,840 $ 26,980 958 9,050 $ 70,300 $ 98,150 $ 79,920 $ 71,535 $ 11,933 $ 435,211 N/A

stabilize Tax, taxes Fund. For the may appropriation $ $ 8.79% - 3.60% = 5.19%

to Users’ Budget an 5.19% above; 25% of excess revenue 25% x $257,010,856 = $64,252,714
upon Utilities Fund the into be deposited into the Ongoing Revenue $ 1,879,195 $ 587,440 $ 135,890 $ 3,900 $ 614,100 $ 786,900 $ 704,760 $ 263,220 $ 298,540 $ 111,270 $ 5,385,215

drawn Tax, General includes

be a deposit must Threshold, it As
then Property seven include revenue Growth Policy. 2022-23 Proposed Budget Less One-Time Revenue - - - - - - - - - Value $ 435,211,000 $ 257,010,856

growth that can economic taxes: Fund General the from receipts must the budget excess that of value Ongoing Annual this with comply to order Proposed Budget (Thousands) $ $ 1,879,195 $ $ 587,440 $ 17,910 $ 153,800 $ $ 3,900 $ $ 614,100 $ $ 786,900 $ $ 704,760 $ $ 263,220 $ $ 298,540 $ $ 111,270 $ 1

2022-23 PROPOSED BUDGET BUDGET STABILIZATION FUND POLICY robust of periods during economy-sensitive, seven from cumulative the in growth when years), 20 prior the over growth the of percent five Threshold, the Average of short falls withdrawal from the Fund in the amount of five percent of the value of the lost revenue for each one percent of growth below the Growth Threshold. in Fund the to $64,252,714 Ongoing Revenue $ 1,829,650

set savings aside revenue excess 5.120.4, Section annual ongoing Growth Ongoing receipts these of appropriate 2021-22 Adopted Budget Less One-Time Revenue $ $ $ $ $ $ $ $ $ $ $ Average Annual Ongoing Growth Threshold* Projected Ongoing Growth (Reduction) Projected Difference from Average 8.79% Step 3: For each 1% of ongoing revenue growth below the Threshold, 5% of lost revenue may be withdrawn up to 25%: Step 4: For each 0.
to must policy (C.F. 21-0600-S112) . Step 2: Calculate the difference between the projected ongoing growth and the Average Ongoing Growth Threshold:
is of average growth Adopted Budget $ 1,829,650 $ 570,600 $ 111,990 $ 2,942 $ 605,050 $ 716,600 $ 606,610 $ 183,300 $ 227,005 $ 99,337 $ 4,953,084
(Fund) comprised Code Annual Budget

Fund is Tax, Sales Tax, Transient Occupancy Tax, Documentary Tax, and Parking Users’ Tax. Administrative (the Threshold Average growth. When 2022-23 Total
Stabilization Fund Growth the exceed excess Proposed Step 1, Identify the projected ongoing growth percentage:

Budget downturns. This Angeles Ongoing revenues the the below,

the Los percent of State Motor Vehicle License Fees Calculation of the Permitted Withdrawal
of economic the that Seven General Fund Taxes Transient Occupancy Tax Documentary Transfer Tax Parking Occupancy Tax
purpose to Average Annual percent 25 demonstrated amount, it complies. Property Tax Property Tax 1% VLF Replacement Tax Increment Utility Users Tax Business Tax

The during Pursuant half exceed As Sales Tax

17