Finance Director Matthew Baker recently presented the Avalon City Council with information based on the draft of the 2023-24 budget.
The council took no action on the budget.
The budget is scheduled to be approved in June.
Baker gave his presentation at the May 2 council meeting.
According to Baker, the city is in the middle stage of the process.
According to Baker, at that time they were looking at a little over $11 million in the proposed FY2024 budget.
According to Baker, after operating expenditures that would leave approximately $1.1 million in net operating revenues.
He said he wanted to stress that was before capital spending in the General Fund. He also said that certain funds that require subsidies from the General Fund every year.
Total operating exenditures proposed for FY24, according to one of the slides, was put at more than $9.9 million.
Baker said salaries and benefits make up about 42% of operating expenditures in the General Fund.
He said maintenance accounted for about 11%. Contracted services: about 26%.
According to Baker, for every $1 spent in employee salary there is probably 50 cents spent in benefits, employee taxes, CalPERS, and so on.
The proposed budget for the Harbor Fund (as of last week) was more than $7.2 million.
According to Baker, as he was looking back at FY20, the pandemic had a larger impact on the Harbor Fund than the General Fund. The FY22 revenues were almost $7.3 million. (Baker described that as a strong rebound.) According to Baker, staff anticipated FY23 Harbor Revenues would come in at more than $7.4 million.
Baker budgeted the FY24 revenues for the Harbor Fund at more than $7.2 million.
Baker described that as slightly below where staff expects Avalon to end this year as far as revenues go.
Baker also went over Harbor Operations expenditures. The total figure on the slide was more than $3.8 million.
According to Baker, labor was a little more than half of the Harbor Operations costs.