The Goleta City Council has adopted a two-year budget for fiscal years 2021-22 and 2022-23, along with a comprehensive capital improvement plan.
The total budget for Fiscal Year 2021-22 is $31.7 million and $32.1 million in Fiscal Year 2022-23.
Council members unanimously approved the budget and capital improvement plan at their meeting Tuesday.
Members also adopted the city’s GANN limit for Fiscal Year 2021-22. The GANN Appropriations Limit establishes a maximum amount of tax-funded government services.
Furthermore, the council adopted a schedule of authorized positions and the city of Goleta salary schedule and classification plan for fiscal years 2021-22 and 2022-23.
Overall, city staff presented a balanced budget for both fiscal years through unfunded projects and priorities. Staff reported that operating revenues are greater than operating or ongoing expenditures.
Goleta’s revenue outlook showed that its property tax remains stable. The city’s sales tax and transient occupancy tax are both returning closer to normal levels, and cannabis tax revenues continue to grow.
Total revenues are projected at $31.6 million for 2021-22 and $33.1 million in 2022-23. Revenue growth is primarily projected due to sales tax and transient occupancy tax returning closer to normal levels and an increase in cannabis tax revenues.
Total expenditures are projected at $32.2 million in 2021-22 and $32.6 million in 2022-23.
The presentation discussed the expenditures for the city of Goleta, which now include: returning staffing, service and supplies expenditures to pre-pandemic levels; annual work program priorities, including personnel changes to address ongoing staff deficiencies; and costs adjusted for contracts.
In addition, the General Fund expenditures saw a total net increase of $426,200 in 2021-22. General government saw a total net increase of $18,500, public safety went up by $437,700, and $1,296,212 in fund balance and reserves were set aside for improvement projects to the Goleta Community Center.
City staff also discussed the General Fund five-year forecast.
Revenue projections were made conservatively according to the presentation, and the forecast is an indicator of Goleta’s ongoing debt affordability and decreased ongoing expenditure associated with current or expanded service levels.