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Posted on: July 9, 2019

City of Brea Fiscal Year 2019-20 Budgets Adopted

At the June 17 Brea City Council meeting, the City Council held a Public Hearing regarding the City's budgets.  At that meeting the Council approved the Fiscal Year (FY) 2019-20 five operating budgets, along with the Capital Improvement Program Budget. The approved FY 2019-20 City Operating Funds totals $101 million, including the General Fund Operating Budget.

General Fund Budget

The General Fund Budget is the financial plan for the City of Brea for the fiscal year, which began July 1, 2019.  The revenues are budgeted at $55.5 million in revenues and $55.3 million in budgeted expenditures. The General Fund Budget is used to support such City services as police, fire and parks, as well as planning, community development and administrative support services. Brea currently maintains a reserve balance of 25% of its annual expenditures.

  • Revenues
    Sales tax revenue is the City’s single largest revenue source and represents 37% of the FY 2019-20 budget, although online sales continue to negatively impact this revenue source.
  • Property taxes continue to grow as the City receives improved housing valuations, as well as new property taxes generated from the Central Park Village development.  Property taxes are the second largest revenue source and represents 21% of the FY 2019-20 budget.

Expenditures

  • The General Fund expenditures overall represents a 0.49% increase in budgeted expenditures as compared to the FY 2018-19 estimated year-end expenditures.  Overall department operating expenditures are relatively minimal and are flat in several areas even though cost of materials, supplies and contract services increase.
  • Employees continue to contribute toward their retirement benefits at or above 100% of the employee portion. For FY 2019-20, a 2% Cost of Living Adjustment (COLA) has been budgeted for employees.

Capital Improvement Program (CIP)

  • The CIP consists of projects aimed at improving the city’s public infrastructure, such as streets, transportation issues, street lights, traffic signals, parks, public buildings, sewer and storm drains, and water projects.
  • Nearly $4,000,000 in new projects are planned for this year, including water main, park irrigation and street upgrades.


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