Laguna Woods Sees Same Downturn as Rest of County

Laguna Woods http://www.lagunawoodscity.org/  is seeing the same downturn that the rest of the county is.  Revenues are projected to be off by a little over 4% and expenses have been cut by over 7.75%.  Laguna Woods is one of the few cities to cut deeper than the budget required.

The hits to revenue are caused by a drop in transient occupancy taxes and transportation funds.  Property tax revenues are projected to increase slightly.  It is possible that property tax revenues will stay flat or increase slightly because Laguna Woods is a unique community - it is a destination community, the closest substitute is Leisure World in Seal Beach.

Expenditures have been reduced accordingly. City council has taken an almost 4% decrease in expenses.  Administrative and community services also take significant cuts in the budget.

A summary of the FY 08-09 budget and FY 09-10 proposed budget follows.

Revenue	FY 08-09	FY 09-10	$ Change	% Change
General Fund
Property Tax	$2,130,629	$2,184,430	$53,801	2.53%
Sales Tax	613,138	628,508	15,370	2.51%
Motor Vehicle Fees	46,571	50,927	4,356	9.35%
Franchise Fees	376,637	381,988	5,351	1.42%
Transient Occupancy Tax	375,778	363,484	-12,294	-3.27%
Development Processing Fees	272,000	272,000	0	0.00%
Fines	303,025	317,228	14,203	4.69%
Community Services Programs	17,310	121,165	103,855	599.97%
Misc	293,997	205,034	-88,963	-30.26%
Total	$4,429,085	$4,524,764	$95,679	2.16%
Development/Impact Fee Income	$5,131	$3,801	-$1,330	-25.92%
Transportation Fund	$4,115,869	$3,895,407	-$220,462	-5.36%
Self Insurance Fund	$93,975	$141,858	$47,883	50.95%
Grant Fund	$975,302	$700,529	-$274,773	-28.17%
Total Revenues	$9,619,362.00	$9,266,359.00	-$353,003.00	-3.67%
Less Interfund Transfers	$9,525,387	$9,124,501	-$400,886	-4.21%
Expenditures
General Fund	FY 08-09	FY 09-10	$ Change	% Change
City Council	$51,803	$49,753	-$2,050	-3.96%
Administrative Services	1,150,045	1,045,396	-104,649	-9.10%
Community Development	565,306	523,661	-41,645	-7.37%
Community Services	276,978	189,465	-87,513	-31.60%
Public Safety	1,631,040	1,666,844	35,804	2.20%
Public Works	407,839	426,208	18,369	4.50%
Non-Departmental	163,148	143,815	-19,333	-11.85%
Reserves	233,792	411,435	177,643	75.98%
Transfer to Self Insurance Fund	93,975	66,858	-27,117	-28.86%
Transfer to CIP	175,000	0	-175,000	-100.00%
Total General Fund	$4,748,926	$4,523,435	-$225,491	-4.75%
Development/Impact Fee Income	$216,000	$265,987	$49,987	23.14%
Transportation Fund	$4,243,598	$3,847,996	-$395,602	-9.32%
Self Insurance Fund	$93,975	$141,858	$47,883	50.95%
Grant Fund	$1,007,835	$728,306	-$279,529	-27.74%
Total All Funds	$10,310,334.00	$9,507,582.00	-$802,752.00	-7.79%