Budget 2022-2023

We don’t have money for that? Don’t believe it.

Last year, this City Council voted unanimously to bond our Unfunded Pension Liability. The bond saved the city millions plus it gave us an opportunity to have $15 Million in one-time funding for one-time expenses to cover deficits due to the pandemic economy.

This 2022-2023 Budget, the City has presented 83 Budget Decision Packages including:

• $2.6 Million for one time expenses
• $1.7 Million for on-going expenses
• $4.3 Million from the General Fund for the Pier Parking Structure

All these numbers mean we will still have:

$1.8 Million Estimated Year-End General Fund Balance

even if we accept every Decision Package this year.

What would you like to see in the city if we “only had the money”?

• Traffic Command Center to adjust green lights to move traffic better?
• Pickleball Courts? (Proposed location in the picture above)
• Community Garden?
• Upgraded Senior Center Facilities?
• Drought tolerant landscaping along the bike path?
• One resident asked for more officers for school security, how do you feel about that?

Let me know, email me. Need more information? See below:

 

Budget 2022-2023 Summarized

In the General Fund Budget, Redondo Beach receives revenue from many sources:

$32 Million Property Tax

$12 Million Sales Tax

$  9 Million Property Tax in Lieu of VLF

$  7 Million Utility User Tax

$  6 Million Transient Occupancy Tax (Hotel Fee)

$  3 Million Property Transfer Tax

$  4 Million Other

$73 Million Total PLUS

$28 Million Other Various including $5.8 Million of America Rescue Plan Act

———————–

$101 Million Total Estimated 2022-2023 Revenues

The City has presented 83 Budget Decision Packages including:

• $2.6 Million for one time expenses
• $1.7 Million for on-going expenses
• $4.3 Million from the General Fund for the Pier Parking Structure

All these numbers mean we will still have:

$1.8 Million Estimated Year-End General Fund Balance

even if we accept every Decision Package.

The City has a Budget and within that Budget. We have a Capital Improvement Projects (CIP) 5 year budget. The CIP fixes our sewers, streets, parks, buildings, parks etc.

Every year, Redondo transfers $1 Million from the General Fund into the CIP. But this year, it is being proposed we additionally transfer $4.35 Million into the CIP for the Pier Parking Garage. In the CIP (Capital Improvement Projects) we will discuss approving the following:

• $7.65 Million Waterfront Projects ($4.35 Million from the General Fund)
• $3.8   Million Sewer Projects
• $3.55 Million Street Projects
• $1.15 Million Public Facility Projects
• $  500,000    Park Projects
• $  458,000    Drainage Projects