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Home»Fund»City Council Report: General Fund Revenue Exceeds Budget | Focus on DP
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City Council Report: General Fund Revenue Exceeds Budget | Focus on DP

The Elite Times TeamBy The Elite Times TeamMarch 7, 2024No Comments4 Mins Read
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City of Dana Point Administrative Services Director Shea Shelton had a lot to say at Tuesday’s City Council meeting, and most of it was good.

It was good enough that the City Council unanimously approved the receipt and submission of the January financial report.

Mr. Shelton reported on the mid-fiscal year 2023-24 budget status report, and attendees were given a number of numbers that appeared to be favorable to Dana Point.

“We have good news to report: Midway through the fiscal year, general fund revenues through January 2024 exceed the revised budget and are approximately $1 million more than the same period in FY23,” Shelton said. said. “Expenses are slightly higher than last year, primarily due to increased transfers to other funds. Without transfers, our expenses remain similar to FY23.”

Mr. Shelton reported that the General Fund’s revenue budget is currently $46.6 million and the spending budget is $52.6 million, including a transfer from $6.8 million.

“Staff recommends increasing the overall revenue budget by $1.9 million, primarily in TOT (transient occupancy tax) and investment revenue,” Shelton said. “The original TOT budget was set very conservatively. Actual receipts are tracked to FY23. TOT total for FY23 was $16.7 million. Staff conservatively budgeted for FY24. We recommend increasing the budget from $15.6 million to $16.2 million. Based on the City’s current investment portfolio, the investment return is significantly higher than the current budget of $425,000.”

Shelton said portfolio staff recommended increasing the budget for the fiscal year to $1.1 million. He added that the report recommends spending adjustments totaling $2.2 million.

“The bulk of that is as a recommendation to our side out of the $3.7 million that the City Council set aside last September using its FY23 surplus fund balance to make additional payments to the City’s unfunded liability. It’s not an increase,” she said.

Shelton added that staff is also recommending the possibility of adding a “records-centric” focused position within the city staff office.

“While we do not intend to fill the position at this time, we would like to add it to our salary schedule for the future,” Shelton said.

Mayor Pro Tem Matthew Pagano mentioned his initial thoughts on moving hedge fund money into unfunded pension liabilities.

“The general idea was that if you spread it over two years, the hurdle of losing $36,000 in interest was worth the risk of having the extra cash,” Pagano said. said.

Radio equipment regulations

City Senior Planner Danny Giometti spoke to the council regarding City Ordinance 5.42, which relates to business regulation of small wireless facilities.

“To deploy more antennas and close gaps in cell coverage, the FCC and the state of California have both enacted legislation to ease regulations and streamline the permitting process for new small radio equipment,” he said. Stated. “Small radio equipment is any equipment that facilitates the transmission of any wireless service with an antenna, microwave, or radio that meets certain FCC requirements to constitute a small radio equipment. It’s like a lamppost set up on a site.”

Giometti noted that the original ordinance on this issue had several issues that needed to be addressed.

“Staff is working with the City Attorney to amend the current ordinance to address multiple issues identified in the draft update and staff report,” Giometti said. “There are some issues with development standards that need to be addressed, and then there are other issues associated with bringing them to the FCC and California law.

“Staff believes that these revisions will improve clarity, streamline the permitting process, ensure that this chapter complies with FCC and state regulations, and that these revisions will help ensure that these types of facilities and CO locations are in compliance, instead of large wireless facilities that do not comply. We believe that it is intended to facilitate the development of a ” within the size, location, and concealment requirements and requires approval of a intended use permit as outlined in our Zoning Code. ”

Mr. Pagano said the revisions provide effective unified zoning regulations for small wireless facilities and qualified facility requirements.

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