The Hermosa Beach Neighborhood Association
HB 2004-05 Budget HB 2002-03 CAFR Budget 3/23/04 Agenda Letter
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The City of Hermosa Beach 2004-2005 Budget
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The City of Hermosa Beach 2004-2005 BUDGET AND CAPITAL IMPROVEMENT PROGRAM.ADOPTION OF 2004-2005 BUDGET. Memorandum from Finance Director Viki Copeland dated June 14, 2004 (PDF File). Web Links to other Beach Cities 2004 - 2005 Budget Information Link to: The City of Manhattan Beach 2004 - 2005 Adopted Budget Link to: The City of Redondo Beach 2004 - 2005 Budget Link to: The City of El Segundo 2004 - 2005 Budget
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The City of Hermosa Beach 2004-2005 BUDGET AND CAPITAL IMPROVEMENT PROGRAM.June 14, 2004
Honorable Mayor and Members of City Council Meeting of the Hermosa Beach City Council June 22, 2004
ADOPTION OF 2004-2005 BUDGET
RECOMMENDATION: It is recommended that the City Council: 1. Hear public testimony regarding the 2004-2005 Budget; a. Letter from Jean Lombardo, attached, see page 7, b. Letter from Jeff Duclos, attached, see page 26, 2. Review the Questions/Information from the 2nd Budget Workshop beginning on page 28, 3. Review the changes to the budget below, 4. Approve contracts listed below for services budgeted in the 2004-05 Budget; 5. Adopt Resolution 04- , approving the 2004-2005 Budget, page 43.
BACKGROUND: Budget workshops were held in the Council Chambers on May 18, 2004 and June 7, 2004. ANALYSIS: See Questions/Requests for Information from the 2nd Budget Workshop attached, beginning on page 28.
CHANGES TO BUDGET
GENERAL FUND Revision to State Take-Away The Preliminary Budget included a reduction in secured property tax revenue of $287,478, per the Governor’s January budget proposal. In the Governor’s May Revise, that number increased by $73,564, to $361,042. Even though the number is not final until the budget is adopted by the Legislature, staff thought it prudent to reflect the increased take-away at this time. If the amount changes again, staff will return with a revision to the Adopted Budget when the amount is known. Sales Tax Revision Staff reviewed the original assumptions for the 2004-05 sales tax estimate and current tax revenue. We recommend increasing the estimate by $60,000. Increase in Encroachment Fees As presented at the 2nd Budget Workshop, the budget has been amended to include an increase from the $2/square foot rate included in the budget for Plaza commercial dining encroachments to $4/square foot for Plaza businesses open after midnight, which results in an additional $107,616. As shown on the attached worksheet, this revision generates $177,410.40. Since $69,794.40 was already included in the budget as a result of changing from $1//square foot to $2/square foot, the net increase now is $107,616. A copy of the spreadsheet showing the businesses affected is attached on page 36. Beach Cities Health District Funding As mentioned at the last workshop, funding from Beach Cities Health District for Paramedic Services was approved in the amount of $21,840. The change to revenue is reflected in the revisions to the budget. Conference/Training Reduction At the 2nd Workshop, the City Council reduced their conference/training budget by $4,000 and the City Clerk indicated that that her budget could be reduced by having only one person attend the annual conference. Staff agreed to come back with further reductions, if possible. Reductions are listed below by department.
DEPARTMENT AMOUNT TOTAL General Fund City Council 4,000 City Clerk 1,350 Community Development – Planning 4,935 Public Works 493 Personnel 2,500 Police 3,400 Fire 7,000 Finance Administration 500 Total 24,178
Parking Fund Community Services 3,300 Finance Cashier 950 Total 4,250
Insurance Fund Liability Insurance 2,000 Total 2,000
Total Reduction 30,428
Net Change to General Fund/Transfer to CIP Fund The net change to the General Fund, including the above revisions and the reduction to Lighting District administration included below, is +$139,489. Staff recommends that this amount be transferred to the Capital Improvement Fund (CIP Fund).
LIGHTING/LANDSCAPING FUND As requested by the City Council, staff presented at the 2nd Budget Workshop, a reduction over a two-year period, which causes operating costs to equal the assessment. Public Works originally estimated a first year and second year reduction in street lighting costs to be $23,650 and $82,000, respectively. Upon review, the first year reduction should be $50,590 and the second year $113,000. Using the new estimates, the first year reduction of $142,903 (shown below) brings total appropriations/transfers out to $518,228. For the second year, in order to bring the total operating costs in line with the assessment levy amount of $455,000, a reduction of $63,228 would be required. (it will actually be more since some line items will increase however we are not attempting to estimate the increase for 2005-06 at this time) If the $113,000 savings for the reduction of lights in the second year is obtained, there should be funds to cover the operating costs, with some funds left for capital improvement.
Salaries and Benefits: Reduce 1 Maintenance II Position (59,482) Reduction in Transfer Administration reduced for above (4,831) Utilities Estimate too high (28,000) Reduction of Lights 1st Year Savings (50,590)
Total 1st Year Reduction 142,903
A revised budget page for the Lighting Division is attached as page 37. See the attached memo from Public Works that outlines the costs savings in detail and the process and timing for taking the lights out of service. (page 38)
CAPITAL IMPROVEMENT FUND Excess Funds: Review of Financial Funding Goals To meet the City Council’s request to provide funds for street repairs and sewer repairs, it is recommended that the City Council approve transfers from the following funds to the Capital Improvement Fund since the estimated fund balances at 7/1/05 are in excess of the established goal amount:
FUND GOAL FUND BALANCE AMOUNT OVER Compensated Absence Fund $ 448,271 $ 512,003 $ 63,732 Contingency Fund 2,657,267 2,689,724 32,457 Equipment Replacement Fund 1,723,709 1,538,008 185,701 TOTAL $281,890
A cautionary note: The above amounts are based on estimates of the fund balance that will be available as of 7/1/2005. Typically when we have moved funds to the Capital Improvement Fund, amounts were actual balances rather than estimates. There is no problem moving forward as we recommend as long as it is recognized that actual amounts may differ and as long as the funds are appropriated conservatively.
Capital Improvement Projects
CIP 04-114 Speed Humps The City Council directed at the 2nd Workshop that funding for this project should be reduced to $12,500 for 24th Street only. A revised CIP Request sheet is attached as page 40. CIP 04-117 Manhattan Avenue Street Improvements This is a new CIP created for design of improvements for Manhattan Avenue. $15,000 is included for a survey and $20,000 for in-house design of the project, for a total of $35,000. A new CIP Request sheet is attached as page 41. Net Change to CIP Fund The transfer from the General Fund and the excess of goal amounts from the other funds results in $421,379 being deposited to the CIP Fund. Reducing CIP 114 Speed Humps to $12,500 and adding CIP 117 Manhattan Avenue Improvements for $35,000 results in a balance of $398,879 in the CIP Fund. Summary of Fund Balance Changes A summary of all the revisions above is shown in the summary attached as page 42. Contracts for Services The following contracts are for services budgeted in various departments. Rather than submitting them individually on future agendas, we are submitting them en masse. The contracts are on file in the Finance Department for your review.
Contractor Name Service Provided Term/Amount
Community Development Hayer Consultants, Inc. General Building Consulting 7/1/04-6/30/07/no increase, Services same rate: $75/hour Lawrence Associates Consulting Planning 7/1/04-6/30/07/no increase, Services for CDBG same rate: $85/hour
Finance Administration Caporicci & Larson, LLP Audit Services* 7/1/03-6/30/04 1.75% increase $23,225 Information Systems Prosum Technology Systems and Network 7/1/04 to 6/30/05 Consulting Group Support 50.1% decrease $14,375 Public Works John L. Hunter & Assoc Beverage Container Recycling Program 7/1/04-6/30/05 .6% decrease $5,374 John L. Hunter & Assoc Used Oil Recycling Program 7/1/04-6/30/05 no increase $5,400 Enfact, Inc. Stormwater Management Program (same consultant, new company name) 7/1/04-6/30/05 3.8% decrease $54,000 Police Department All City Management Services School Crossing Guard Services – one year extension of existing contract 7/1/04-6/30/05 2.9 % increase $63,761
* The audit contract would normally have been extended for two years when it was brought to City Council in September 2002 for fiscal year 2002-03. (the contract contains a clause that the audit is awarded for three years, with an option to extend for two years). Since only one year was addressed at that time, staff requests the contract be extended for 2003-04. An RFP will be done for future audit services as usual.
Budget Summary The Budget Summary, which incorporates the above revisions, is attached to the budget resolution on page 44, marked as Exhibit A.
Five Year Capital Improvement Program The first year of the plan is adopted within the 2004-05 Budget. The Five-year Plan will go to the Public Works Commission in September and then come back to the City Council in November.
Respectfully submitted,
Viki Copeland Stephen R. Burrell Finance Director City Manager
QUESTIONS/REQUESTS FOR INFORMATION FROM 2nd BUDGET WORKSHOP, June 7, 2004
Q1. Is the base year for the Sheriff initiative 2003-04 or 2004-05. A.1 The base year in the initiative is 2003-04.
Q2. There was consensus to look at implementing a grease trap program for businesses. A2. Staff will return with an ordinance and funding plan.
Q3. Staff agreed to look at a reduction in the frequency of street sweeping and the related reduction in cost. In addition, use of AB939 (recycling/source reduction) fees to pay for street sweeping, as well as a possible increase in the fee amount, will be explored. A3. Reducing the frequentcy of street sweeping from once a week to every two weeks would reduce the contract from $209,000 to $130,000-$140,000. It would cost approximately $15,000 as a one-time costs to modify the street signage. The net savings would be $115,000-$125,000. However, since street sweeping parking violations generated $313, 000 in 2002-03, if we assume a 50% reduction in revenue, the change would result in a net loss of $31,500 to $41,500. Staff provided information on the use of AB939 Funds and the potential for increasing the fund at the 2nd workshop. Staff will bring back this item for consideration if the City Council so directs.
Q4. There was consensus to look at use of a private contractor for ambulance transport. A4. Staff will return with an analysis of service, costs and revenue related to using a private contractor.
Q5. There was consensus to look at smart meters and metering of Lot A. A5. Staff will return with an analysis of implementing smart meters and metering Lot A, with and without smart meters.
Q6. There was consensus to reduce the Lighting/Landscaping costs to the amount of the levy over the next two budget years. A6. The reduction is contained in the staff report under “Changes to the Budget”.
Q7. The City Council requested that their conference/training budget be reduced by $4,000. The City Clerk said that she could reduce by having only one person attend the annual conference. It was requested that the City Manager review the other departmental conference and training accounts. A7. See the staff report under “Changes to the Budget” for a list of reductions. Total reductions recommended are $30,428.
Q8. Concern was expressed for the unsafe condition of the Fire Station. All purchases should be made with report recommendations from the Fire Department needs assessment in mind. A8. Prior to spending funds, staff will investigate whether there is any safety concern and if so, develop a plan to address it.
Q9. Councilmember Reviczky requested a City Attorney opinion on “supplanting” language contained in the law relating to Supplemental Law Enforcement Services Funds (COPS). May funds be used to pay salaries of existing officers? If the number of positions is reduced one budget year, may funds be used to pay for salaries when a position is added back? A9. See attached opinion from the City Attorney, copies of Government Code Section 30062, and the Certified Expenditure Report that the Chief of Police signs each year. Staff contacted the County CAO’s Office, who will provide us with the correct contact person to help answering the remaining question.
Q10. A request was made to look at reducing the cost of the New Year’s celebration and consider soliciting business donations. There was consensus to have the same band. A10. Staff will discuss the issue with the event contractor and report back.
Q11. There was consensus to reduce CIP 04-114 to $12,500, with 24th Street listed as the only project since it is already set to come before the City Council. A11. The reduction is contained in the staff report under “Changes to the Budget”.
Q12. There was consensus that funds need to be included in the 2004-05 Adopted Budget for street repairs and sewer repairs, perhaps as much as $400,000. A12. Funds have been added to the Capital Improvement Fund. The information is provided in the staff report under “Changes to the Budget”. A new CIP 04-117 has been added for Manhattan Avenue Improvements with funding in 2004-05 for design.
Q13. How much is recovered for Police and Fire special event work? A13. This information is found in revenue accounts 3823 Special Event Security/Police on page 48 of the Preliminary Budget and 3882 Special Event Security/Fire on page 49. $57,985 and $6,632, respectively, was collected in 2002-03, with estimates of $40,000 and $1,848 for 2003-04 and 2004-05.
Q14. A statement was made that the City needs long term goals with a work plan for staff to focus on. The list should address such items as whether to do a General Plan update, specific infrastructure improvements such as Police/Fire Buildings, etc. A14. The draft Work Plan is attached, starting on page 35.
2004-05 Draft Work Plan (not in priority order)
Street Sweeping Use of AB939 Funds, potential fee increase
Grease Trap Ordinance
Ambulance Transport System
Smart Meters
Street/Sewer Plan
Pavement Management Plan
Government Buildings/Facilities Plan – Funding/Process
Planning Commission Items
General Plan Joint Meeting Dates Historic Preservation Plan, 1% Tax
Underground Districts
Wifi Project
Trash Enclosures
Trash Can Ordinance
Street Light Removal
Capital Projects
Aviation/Pch
Recycling Program
Upper Pier Avenue
User Fee Study
Bring Website Maintenance Inhouse
Parks and Recreation Commission Tennis Court Lighting
Meter Lot A
Change Machines
Reduce Cost of New Year’s Eve Event
INCREASE OF ENCROACHMENT FEES PLAZA BUSINESSES FROM $1/PER SQ FT TO $2
EXCEPT PLAZA BUSINESSES OPEN PAST MIDNIGHT $4/PER SQ FT
AMOUNT PAID AMOUNT PAID DIFFERENCE AMOUNT PAID AMOUNT PAID DIFFERENCE BUSINESS NAME SQ. FOOTAGE PER QUARTER PER QUARTER PER QUARTER PER YEAR PER YEAR PER YEAR @ $1/sq. ft @ $4/sq. ft @ $1/sq. ft @ $4/sq. ft as of 7/1/2000 BUSINESSES ON PLAZA OPEN AFTER 12:00 MIDNIGHT ALOHA SHARKEEZ 390 1,170.00 4,680 3,510.00 4,680 18,720 14,040.00 CANTINA REAL 312 936.00 3,744 2,808.00 3,744 14,976 11,232.00 CAFÉ BONAPARTE 169 507.00 2,028 1,521.00 2,028 8,112 6,084.00 DRAGON RESTAURANT 316 948.00 3,792 2,844.00 3,792 15,168 11,376.00 FAT FACE FENNER'S 200 600.00 2,400 1,800.00 2,400 9,600 7,200.00 HENNESSEY'S TAVERN 975 2,925.00 11,700 8,775.00 11,700 46,800 35,100.00 PARADISE SUSHI 250 750.00 3,000 2,250.00 3,000 12,000 9,000.00 PATRICK MOLLOY'S 429 1,287.00 5,148 3,861.00 5,148 20,592 15,444.00 SANGRIA 780 2,340.00 9,360 7,020.00 9,360 37,440 28,080.00 THE LIGHTHOUSE 390 1,170.00 4,680 3,510.00 4,680 18,720 14,040.00 ZEPPY'S PIZZERIA 273 819.00 3,276 2,457.00 3,276 13,104 9,828.00 13,452.00 53,808 40,356.00 53,808 215,232 161,424.00
AMOUNT PAID AMOUNT PAID DIFFERENCE AMOUNT PAID AMOUNT PAID DIFFERENCE SQ. FOOTAGE PER QUARTER PER QUARTER PER QUARTER PER YEAR PER YEAR PER YEAR @ $1/sq. ft @ $2/sq. ft @ $1/sq. ft @ $2/sq. ft
NOT OPEN AFTER 12:00 MIDNIGHT as of 7/1/2000 HERMOSA FISH MARKET 403 1,209.00 2,418 1,209.00 4,836 9,672 4,836.00 IL BOCCACCIO 247 741.00 1,482 741.00 2,964 5,928 2,964.00 1 LORETO PLAZA 292.2 876.60 1,753 876.60 3,506 7,013 3,506.40 MEDITERRANEO 390 1,170.00 2,340 1,170.00 4,680 9,360 4,680.00 3,996.60 7,993 3,996.60 15,986 31,973 15,986.40 TOTAL ON PLAZA 177,410.40
AMOUNT PAID AMOUNT PAID DIFFERENCE AMOUNT PAID AMOUNT PAID DIFFERENCE SQ. FOOTAGE PER QUARTER PER QUARTER PER QUARTER PER YEAR PER YEAR PER YEAR @ $1/sq. ft @ $2/sq. ft @ $1/sq. ft @ $2/sq. ft as of 7/1/2000 BUSINESSES NOT ON PLAZA BARNACLES BAR & GRILL 200 600.00 1,200 600.00 2,400 4,800 2,400.00 2 BOTTLE INN 427.5 1,282.50 2,565 1,282.50 5,130 10,260 5,130.00 CLASSIC BURGER CAFÉ 315 945.00 1,890 945.00 3,780 7,560 3,780.00 COFFEE BEAN & TEA LEAF 192.5 577.50 1,155 577.50 2,310 4,620 2,310.00 GOOD STUFF 480 1,440.00 2,880 1,440.00 5,760 11,520 5,760.00 MARTHA'S 22 ND. ST. GRILL 913.5 2,740.50 5,481 2,740.50 10,962 21,924 10,962.00 THE BEACH HOUSE 600 1,800.00 3,600 1,800.00 7,200 14,400 7,200.00 9,385.50 18,771.00 9,385.50 37,542.00 75,084.00 37,542.00
GRAND TOTAL 214,952.40
1 Effective Feb 2004 the rate is $2/Sq. Ft. 2 Encroachment rate varies - Oct-Mar = 285 sq. ft. Apr-Sep = 570 sq. ft (average sq. footage is 427.50) * To open in May 2004
City of Hermosa Beach Department Expenditure Detail Preliminary Budget 2004-05
2003-04 2003-04 2003-04 2002-03 Total Expend YTD Year End Expended Budget (Thru Jan) Estimate 105 Lightg/Landscapg Dist Fund 2601 Lighting/Landscaping/Medians
2601-4100 Personal Services 2601-4102 Regular Salaries 177,228 167,456 96,065 167,456 2601-4106 Regular Overtime 2,174 2,000 1,837 2,200 2601-4111 Accrual Cash In 10,573 3,621 5,219 3,621 2601-4112 Part Time/Temporary 6,322 0 0 0 2601-4180 Retirement 13,276 12,532 7,190 12,532 2601-4188 Employee Benefits 23,192 20,616 15,326 20,616 2601-4189 Medicare Benefits 2,214 2,212 1,359 2,212 Personal Services 234,979 208,437 126,996 208,637
2601-4200 Contract Services 2601-4201 Contract Serv/Private 28,622 41,207 20,009 41,207 2601-4251 Contract Service/Govt 12,622 21,700 5,768 19,700 Contract Services 41,244 62,907 25,777 60,907
2601-4300 Materials/Supplies/Other 2601-4303 Utilities 164,798 188,000 72,750 175,000 2601-4309 Maintenance Materials 24,157 28,300 11,794 28,300 2601-4395 Equip Replacement Charges 39,809 41,819 24,395 41,819 2601-4396 Insurance User Charges 36,962 36,192 21,112 36,192 Materials/Supplies/Other 265,726 294,311 130,051 281,311
2601-5400 Equipment/Furniture 2601-5401 Equip-Less Than $1,000 916 0 0 0 2601-5402 Equip-More Than $1,000 4,479 0 0 0
Equipment/Furniture 5,395 0 0 0 Lighting/Landscape/Median- 547,344 565,655 282,824 550,855
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SUMMARY OF FUND BALANCE CHANGES
General Light/Landscape Parking Compensated Contingency Capital Impvmt Insurance Fund Fund Fund Absence Fund Fund Fund Fund 001 105 110 119 199 301 705 Prelimin Budget Fund Bal. $111,831 $0 $182,557 $512,003 $2,689,724 $0 $2,262,606 Revenue Changes Reduce Property tax revenue ($73,564) Increase Sales Tax Revenue $60,000 Inc. Plaza Outdr Dining permits $2 to $4/business after midnight $107,616 Add Bch Cities Health Dist Paramedic funding $21,840 Transfers In Changes Redce Ltng/Lndscape Admin ($4,831) Inc Park Fund Trans In/Conf Exp reduction $4,250 Add Trans In from Gen Fund $139,489 Add Trans In from Compensated Absences Fund $63,732 Add Trans In / Contingent Fund $32,457 Add Trans In / Equip Repl Fund $185,701 Appropriations Changes Reduce Dept Conf Exp ($24,178) ($4,250) ($2,000) Reduce 1 Maint II Position ($59,482) Reduce Utility cost est - high ($28,000) Reduce number of street lights ($50,590) Reduce CIP 114-Speed Humps by 1/2 for 24th Street only ($12,500) Add CIP 117-Manhattan. Ave St. $35,000 Improvements Transfers Out Changes Add Transfer to Capital Improvement Fund $139,489 Reduce Transfer to General Fund for Admin ($4,831) Increase Gen Fund Transfer for Conf exp reduction $4,250 Add Transfer of excess goal to Capital Improv Fund $63,732 $32,457 Adopted Budget Fund Balance $111,831 $142,903 $182,557 $448,271 $2,657,267 $398,879 $2,264,606 General Light/Landscape Parking Compensated Contingency Capital Impvmt Insurance Fund Fund Fund Absence Fund Fund Fund Fund 001 105 110 119 199 301 705
June 21, 2004 Honorable Mayor and Members of City Council Meeting of the Hermosa Beach City Council June 22, 2004
ADOPTION OF THE 2004- 2005 APPROPRIATION LIMIT
Recommendation: It is recommended that the City Council adopt Resolution 04- setting the 2004 -2005 appropriations limit. Background: In November of 1979, Article XIII B of the California State Constitution was added by the voters through Proposition 4. This Article established limits, using a formula, on state and local governments for appropriation of revenue from tax proceeds. On June 5, 1990, Proposition 111, modified the method of calculating the limit, beginning with fiscal year 1990-91, to allow the City to choose the most beneficial of two adjustment factors for inflation and population as follows: Inflation California Per Capita Personal Income change or Increase in Non-Residential Assessed Valuation Due to New Construction. Population City Population Growth or County Population Growth. Proposition 111 also implemented a requirement that our Appropriation Limit be reviewed annually by our independent auditor.
Analysis: The 2004-2005 limit was calculated, per the League of California Cities Uniform Guidelines, by applying the population and inflation factors to the prior year limit. The County of Los Angeles Population Change of 1.38% was used as the population growth factor since it is greater than the population increase of 1.07% for the City. The increase of 3.28% for California Per Capita Personal Income change was used as the inflation factor since the other growth factor for inflation, the Increase in Non-Residential Assessed Valuation Due to New Construction is .57%. The factor with the largest change is always chosen to give the City maximum discretion with regard to appropriations. The law requires adoption of the 2004-2005 limit by resolution and a recorded vote of the Council to select annual adjustment factors. The choice is set forth in the attached resolution.
The limit calculation will be reviewed by our auditors during the annual financial audit. Respectfully submitted, Concur: _________________________ _________________________ Viki Copeland, Stephen Burrell, Finance Director City Manager
RESOLUTION NO. 04- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, APPROVING AND ADOPTING THE ANNUAL APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2004- 2005
WHEREAS, the voters of California, on November 6, 1979, added Article XIII B to the State Constitution, placing various limitations on appropriations of state and local governments; and
WHEREAS, Article XIII B provides that the appropriations limit for the fiscal year 2004-2005 is calculated by adjusting the base year appropriations of fiscal year 1978-79 and subsequent years for changes in the cost of living and population; and
WHEREAS, Proposition 111 (Section 1.5 of Article XIII B), enacted by the voters on June 5, 1990, modified the method of calculating the limit, beginning with fiscal year 1990- 91; and
WHEREAS, the City of Hermosa Beach has complied with all of the provisions of Article XIII B in determining the appropriations limit for fiscal year 2004-2005;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, DOES RESOLVE AS FOLLOWS;
SECTION 1. That the City of Hermosa Beach chooses to use the California Per Capita Personal Income change as the inflation adjustment factor for fiscal year 2004- 2005.
SECTION 2. The City of Hermosa Beach chooses to use the Change in Population for the County of Los Angeles as the growth adjustment factor for fiscal year 2004-2005.
SECTION 3. The City of Hermosa Beach uses the Uniform Guidelines published by the League of California Cities in March 1991 to determine the limit and appropriations subject to the limit.
SECTION 4. Documentation for calculation of the limit is on file in the Finance Department and will be reviewed by the City’s auditors during the annual financial audit, as required by Proposition 111.
SECTION 5. The appropriations limit for the City of Hermosa Beach for fiscal year 2004-2005 is $21,183,184.
PASSED, APPROVED and ADOPTED this 22nd day of June 2004. ______________________________________________________ PRESIDENT of the City Council, and MAYOR of the City of Hermosa Beach, California
ATTEST: _______________________________CITY CLERK APPROVED AS TO FORM: _______________________________CITY ATTORNEY
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