The Provisional Budget, as proposed to the City Council and the community of Carmel -by -the -Sea, is balanced in its revenues and its expenses, totaling $32,177,071. This sum reflects $21,595,397 of equal income and expense, and $10,581,674 of transfers in and out of various funds. The total budget is 5.8% greater than the budget adopted in June 2014, and 3.5% larger than the FY14-15 adjusted budget which Council amended midterm in February 2015. Twenty-nine (29) percent of the increase is due to the new CalPERS assessment.
The Operations Budget, the day-to-day activities of the government is proposed at $15,874,725, a 2.51% increase over the current year.
The General Fund is the locksmith of all budgets, for it ultimately controls the dispersal of a majority of the revenues and directs the parsing out of the expenses. All municipal revenues eventually find their way to the door of the General Fund, including Transient Occupancy, Gas Tax and Measure D. And, all expenses pass through the door's lock for distribution to other funds; the CIP, Debt Service, Vehicles and Equipment. To speak of the budget is to speak of the General Fund, for it tells the story of the year to come. And that story begins with the income side of the budgetary ledger.
Note: Budget/Requested FY 2015/16: REVENUE General Fund-Total Sources $18,550,397; EXPENDITURE General Fund-Department Total $20,547,824.
City of Carmel-by-the-Sea Fiscal Year 2015-2016 Provisional – Budget
May 1, 2015
Budget Message and The Issues & Options Policy Papers FY 2015-2016