The URL can be used to link to this page

Home My WebLink About17 - Year-End Budget Results and Surplus AllocationTO: FROM: CITY OF NEWPORT BEACH City Council Staff Report October 22, 2024 Agenda Item No. 17 HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL Jason AI -Imam, Finance Director/Treasurer - 949-644-3126, jalimam@newportbeachca.gov PREPARED BY: Shelby Burguan, Deputy Finance Director - 949-644-3085, sburguan@newportbeachca.gov TITLE: Year -End Budget Results and Surplus Allocation ABSTRACT: The Finance Department prepares quarterly financial reports to review the status of revenues and expenditures for the City of Newport Beach's General Fund and to monitor budgetary trends in other City funds. This report contains information on revenues, expenditures and estimated fund balance for the fourth quarter of Fiscal Year 2023-24, and provides an analysis of the City's financial activity from July 2023 through June 2024. In May 2024, an unrestricted General Fund operating surplus of $8.9 million was projected for Fiscal Year 2023-24 based on revenues and expenditures through the third quarter. Based on information available at the end of the fourth quarter, an unrestricted General Fund operating surplus of $10.8 million is projected for FY 2023-24, which is $1.9 million higher than previously projected. Council Policy F-5 requires 50% be used to address long-term obligations and 50% be used to address infrastructure or neighborhood capital improvement. However, since the City pre -funded surplus funds at the beginning of the fiscal year towards paying down the pension liability, it is recommended that the entire unrestricted surplus be allocated towards infrastructure or neighborhood capital improvements. The Finance Committee met on October 10, 2024, to review this report and voted unanimously to endorse the recommended use of the year-end surplus. RECOMMENDATIONS: a) Determine this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because this action will not result in a physical change to the environment, directly or indirectly; b) Approve the one-time waiver of policy elements C and D of City Council Policy F-5 — General Fund Surplus Utilization; c) Approve Budget Amendment No. 25-027, allocating the unrestricted operating surplus for Fiscal Year 2023-24; and d) Receive and file the attached report of the budget amendments for the fourth quarter. 17-1 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 2 DISCUSSION: Economic Overview The unemployment rate in California has steadily increased; in August 2024, unemployment reached 5.3%, marking a 0.5 percentage -point increase year -over -year, and a 0.1 percentage -point increase from the previous month. Additionally, home sales have been down since 2022 amid higher mortgage rates, which has resulted in a lower inventory. The median price of a single-family residence in Newport Beach was $3,845,000 in 2023, which is the highest in Orange County. California's sales tax receipts have also continued to decline from prior quarters due to a shift in consumer spending from taxable goods to nontaxable items. Sales from autos and transportation (the City's largest source of sales tax revenue) are lower due to higher interest rates and tighter credit conditions. Luxury vehicle sales within Newport Beach are significantly lower, which is due, in part, to the temporary closure of a luxury automobile dealership while it is currently undergoing a construction renovation project. Although the City is experiencing a decline in sales tax revenue, the economic outlook for Newport Beach remains bright, which is primarily due to consistent and vigorous demand for real estate within the city, which drives assessed property values higher despite a slowdown in home sales. For example, the City has never seen a decline in assessed values over the last 20 years — even during the Great Recession - which is a significant contributor to its fiscal stability. General Fund Revenues Overall General Fund revenue growth has outpaced the projections that were incorporated into the adopted Fiscal Year 2023-24 budget, as well as projections provided at the end of the third quarter. The following table summarizes the changes to projected General Fund revenues versus the amounts previously projected for the third quarter. Details follow highlighting the reasons for the material variances. FY 2023-24 Unaudited General Fund Revenues Property Taxes 138, 358, 730 143, 556, 945 146,136, 871 2,579,926 1.8% Sales Tax 46,552,459 43,030,586 43,444,542 413,956 1.0% Transient Occupancy Tax* 30,201,648 31,300,000 31,736,960 436,960 1.4% Other Taxes 10,079,710 9,932,047 10,252,075 320,028 3.2% Service Fees & Charges 25,187,124 23,876,096 24,751,378 875,282 3.7% Parking Revenue 7,420,314 7,670,705 8,432,034 761,329 9.9% Licenses and Permits 5,676,619 5,439,452 5,567,848 128,396 2.4% Property Income 7,530,393 9,526,183 9,713,641 187,458 2.0% Fines & Penalties 3,838,752 3,813,111 4,145,354 332,243 8.7% Intergovernmental 4,379,680 4,611,356 5,340,956 729,600 15.8% Investment Earnings 1,690,399 2,700,000 4,853,052 2,153,052 79.7% Misc Revenues 3,394,938 856,000 1,249,669 393,669 46.0% Operating Transfers In 18,428,263 19,020,967 19,333,407 312,440 1.6% Total Revenues 302.739.030 305.333.448 314.957.787 9.624.340 3.2% *Gross TOT revenues amount to approximately $38.7 million. Visit Newport Beach (VNB) receives 18% (or approximately $6.9 million) of TOT on a gross basis, which brings projected TOT revenues to $31.7 million, net of amounts remitted to VNB. 17-2 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 3 Property Tax - Property taxes are the City's single largest General Fund revenue and represent approximately 50% of all General Fund revenues. These revenues are primarily dependent on the assessed valuation established in January of 2023. Therefore, there is typically very little variance seen from the original budget as the year progresses. The strong growth in this category is a result of the CPI factor reaching the maximum 2.0% allowed, as well as property sales and price appreciation. The City's total assessed valuation for Fiscal Year 2023-24 is now projected to grow from $71.2 billion to $75.9 billion. Unaudited actuals in this category exceeded prior quarter estimates by $2.6 million, or 1.8%, which is primarily due to higher than anticipated revenues from Supplemental Taxes, Property Tax Transfers, RDA Residual Taxes, and Prior Year Penalties and Interest. Sales Tax - The second largest funding source for the General Fund is sales tax revenue, making up approximately 15% of General Fund revenues. The City's sales tax base is largely generated from four industry groups — autos and transportation; general consumer goods; restaurants/hotels, and the State & County Pools. In May 2024, it was reported in the Third Quarter Budget Update that sales tax revenue was projected at $43.0 million, which anticipated a 7.6% decrease in revenue over the prior fiscal year. However, sales tax revenue ended the fiscal year at $43.4 million, reflecting a 6.7% decrease in revenue over the prior fiscal year. Therefore, sales tax revenue came in $0.4 million better than projected, which is largely due to better-than-expected sales from business and industry and general consumer goods, which was partially offset by weaker than expected sales from autos and transportation. Consistent with results across the State of California, sales from all industry groups were down during the fiscal year, except for sales from restaurants and hotels, which were up 6.1 % during the fiscal year. Transient Occupancy Tax (TOT) — The third largest funding source for the General Fund is TOT, making up more than 10% of General Fund revenues. Approximately three -fourths of TOT revenue is derived from hotels, with the balance coming from short-term lodging. While TOT receipts from short-term lodging more than doubled over the four-year period from Fiscal Year 2018-19 through Fiscal Year 2022-23, short-term lodging revenue came in 5.4% lower over the prior year, as was noted in the third quarter report. However, TOT revenue from hotels is 8.7% higher, due to robust demand and due to the opening of the Pendry hotel in September 2023. TOT revenue in total from both hotels and short-term lodging came in $0.3 million, or 1 % higher than previously reported in the third quarter update. All Other Revenue — This category includes all other revenue sources other than the top three (property tax, sales tax and TOT). All other revenue is made up of other taxes, service fees and charges, parking revenue, licenses and permits, property income, fines and penalties, intergovernmental revenues, investment earnings, and miscellaneous revenues. Material changes in projected amounts were made to service fees and charges, parking revenue, fines and penalties, intergovernmental revenues, investment earnings, and miscellaneous revenues. 17-3 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 4 • Service Fees and Charges consists of plan check fees, recreation classes, emergency medical services fees and numerous other cost -of -service fees. Services fees and charges came in $0.9 million higher than the third quarter estimates, which is primarily due to higher than anticipated recycling fees, water quality inspection fees, and paramedic inspection fees. • Parking Revenue is derived from General Fund related metered parking fees that are assessed throughout the various parking zones in the city. Parking revenue outperformed third quarter projections by $761,000, primarily due to the reopening of certain parking lots that were closed for a portion of the prior fiscal year. Intergovernmental Revenues consists of federal, state and local grant revenues, which includes, but is not limited to, the City's portion of the '/2 cent sales tax revenue paid to the County of Orange for public safety, state mandate reimbursements, reimbursement for strike teams sent to assist with fires, and revenue sharing with the County of Orange under the Waste Disposal Agreement (WDA). Intergovernmental revenues exceeded previous projections due to a payment from the County for the WDA that related to FY 2022-23 but was not received until FY 2023-24, which resulted in two years of revenue in FY 2023-24. Additionally, revenue from the County associated with the Covid-19 FEMA claim was received, which was not anticipated in prior reports. • Investment Earnings are projected to exceed previous projections by approximately $2 million due to elevated interest rates. Miscellaneous Revenues include restricted revenue, damage to City property, bad debt, donations and contributions, non -operating revenues such as proceeds from the sale of materials and equipment, and other miscellaneous revenues. This category exceeded third quarter estimates by $393,000 due largely to lower -than -expected bad debt, which is a contra revenue account used to write off revenues that the City no longer expects to receive. $528,000 was budgeted for bad debt, but only $130,000 was written off, increasing this revenue category by $398,000. • Operating Transfers In includes the transfer from the Tidelands Fund for the reimbursement of tidelands -related expenditures. Based on a year-end review, it was found that tidelands -related expenditures were higher than originally anticipated, resulting in an increase in the transfer to the General Fund from the Tidelands Fund in the amount of approximately $0.3 million. General Fund Expenditures The FY 2023-24 General Fund expenditure budget totals $310 million. Spending trends in FY 2023-24 are generally consistent with prior years and do not indicate any cause for concern. Total expenditure savings of $9.6 million are projected at this time due largely to savings from vacancies as well as savings in contract services. The unaudited actuals include the encumbrances carried forward into FY 2024-25, which draw from the FY 2023-24 budget. The following table summarizes the expenditure savings by budget category. Details highlighting the reasons for the material variances follow. 17-4 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 5 FY 2023-24 Proiected General Fund Expenditures Salary & Benefits 178,989,633 172,249,929 171,022,200 7,967,433 4.5% Contract Services 34,053,292 32,580,855 31,062,587 2,990,704 8.8% Grant Operating 1,471,683 1,655,027 1,320,500 151,183 10.3% Utilities 4,365,888 4,256,444 4,334,154 31,734 0.7% Supplies & Materials 4,958,209 4,762,312 5,130,895 (172,685) -3.5% Maintenance & Repair 15,202,186 15,485,792 17,026,446 (1,824,260) -12.0% Travel &Training 864,271 832,058 796,379 67,891 7.9% General Expenses 3,958,972 3,957,685 3,986,791 (27,820) -0.7% Internal Svc Charge 29,422,570 29,422,570 29,422,570 - 0.0% Capital Expenditures 2,279,300 2,054,300 1,847,288 432,012 19.0% Operating Transfers Out 34,489,271 34,496,983 34,489,271 - 0.0% Total Expenditures 310,055,275 301,753,956 300,439,082 9,616,193 3.1% Significant expenditure budget variances are as follows: • The revised salary and benefits budget totals $179 million. Salary and benefit expenses for the fiscal year totaled $171 million, or a savings of $8 million. These savings are from vacancies as well as health benefits. The City budgets for health coverage for employees at the full monthly contribution outlined in the various memoranda of understanding with bargaining groups. When an employee opts out of coverage or selects coverage options less than the monthly contribution amount and is ineligible to receive the remaining balance as cash back, the City realizes budget savings. • The contract services budget shows a savings of $6.4 million, however a large portion of the savings in this category were encumbered contracts carried into FY 2025-26. These encumbrances have been incorporated into this table showing the true savings of $2.9 million. • The supplies and materials category includes an overage in the Public Works Department's Parks Division budget. Notable expenses in the over -budget account include irrigation materials, concrete tables and benches, waste containers, and drinking fountains. These overages are offset by other budget savings within the Public Works Department budget and therefore no budget adjustment is requested. • The maintenance and repair category exceeded prior quarter projections and the revised budget due primarily to increased maintenance needs at various City facilities as well as fire stations. These overages are offset by other budget savings within the Public Works and Fire Department budgets and therefore no budget adjustment is requested. • The general expenses category is slightly over prior quarter estimates due primarily to larger than budgeted investment advisory services. This overage is offset by other budget savings and therefore no budget adjustment is requested. • The capital expenditures category shows a budget savings of $1.1 million, however the majority of the savings in this category are associated with projects that will be carried forward into FY 2024-25. These encumbrances have been incorporated into this table showing the true savings of $400,000. 17-5 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 6 General Fund Sources, Uses, and Projected Surplus The City continues to be in excellent financial health. Conservative budgeting and sound financial policies have resulted in a trend of General Fund operating surpluses and strong reserve levels for several years. The City is well positioned to continue delivering high levels of services to the community while targeting surplus resources to key priorities each year. The following table illustrates the prior year sources and uses of funds, current year activity and the projected year-end results. FY 2023-24 Projected General Fund Sources, Uses, and Budget Surplus Q3 Unaudited Variance % Variance Category Projection Actual Beginning Fund Balance Reserves 15,254,999 15,254,999 - 0.0% Operating Resources: Operating Revenues 286,312,480 295,624,380 9,311,900 3.3% Prior Year Resources Carried Forward 5,465,426 5,465,426 - 0.0% Transfers In from Other Funds 19,020,967 19,333,407 312,440 1.6% Repayment of Advances 1,250,000 1,250,000 - 0.0% Total Operating Resources 312,048,873 321,673,213 9,624,340 3.1% Operating Uses: Operating Expenditures 267,256,973 259,181,278 (8,075,695) -3.0% Transfers Out 34,496,983 34,489,271 (7,712) 0.0% Resources Carried to Next Fiscal Year - 6,786,845 6,786,845 - Addition to 25% Contingency Reserve - 3,400,304 3,400,304 - Total Operating Uses 301,753,956 303,857,698 2,103,742 0.7% Net Operating Surplus 10,294,917 17,815,515 7,520,598 73.1% Non -Operating Resources & Uses Transfers Out (24,270,393) (24,911,074) (640,681) 3% Transfers In 7,592,835 7,592,834 (1) 0% Total Non -Operating Resources & Uses (16,677,558) (17,318,240) (640,682) 3.8% Net Change in Fund Balance (6,382,641) 497,276 6,879,917-107.8% Ending Fund Balance Reserves 8,872,358 15,752,275 6,879,917 77.5% A $15.8 million operating surplus for the General Fund is projected for Fiscal Year 2023- 24, which is net of non -operating activity that includes one-time transfers out of the General Fund as well as the addition to the Contingency Reserve (pursuant to City Council Policy F-2). The City Council has approved three budget amendments in Fiscal Year 2024-25 that allocate a portion of the Fiscal Year 2023-24 year-end surplus. BA 25-012 and BA 25-018 designated $2.1 million for an extension of a temporary reduction in the employee retirement contributions for applicable bargaining units, to temporarily increase contributions to health coverage for safety bargaining groups, and for a bonus for safety bargaining units and eligible K&M positions. 17-6 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 7 Additionally, BA 2025-013 appropriated $2.8 million of the year-end surplus for the purchase of real property at 301 E Balboa Blvd. These uses of the General Fund surplus reduce the available unrestricted surplus to $10.8 million, as shown in the table below. Per Council Policy F-5, "roughly fifty percent (50%) of the Budget Surplus Funds shall be used to address long-term obligations such as pension liabilities, other post -employment benefits, bonded debt, lease obligations and other long-term needs" and "roughly fifty percent (50%) of the Budget Surplus Funds shall be used to address infrastructure or neighborhood capital improvements." However, since the City pre -funded surplus funds at the beginning of the fiscal year towards paying down the pension liability, it is recommended that the entire unrestricted surplus be allocated towards infrastructure or neighborhood capital improvements. The Finance Committee endorsed staff's recommendation for the use of the year-end unrestricted surplus. Fiscal Year 2023-24 Year -End Surplus $15,752,275 Purchase of Real Property at 301 E. Balboa Blvd. (2,823,500) Side Letters with Bargaining Groups (2,109,515) Unrestricted Surplus $10,819,260 Other Funds Staff has evaluated the fiscal condition of the City's other major operating funds (Tidelands, Water & Wastewater). An analysis of the budget performance for these funds indicates that no budget adjustments are necessary and variances between budgeted and actual amounts are within reason. Preliminary Unaudited Amounts The City's financial records are undergoing a customary audit review. Therefore, the financial information presented in this report is preliminary in nature and subject to adjustments as the year-end close process continues through December. Any such adjustments are not anticipated to have a material impact on the financial information presented in this report. If any material adjustments related to Fiscal Year 2023-24 are subsequently recorded, any such adjustments will be reported to the Finance Committee. FISCAL IMPACT: If the Budget Amendment (Attachment A) included with this report is approved, the Fiscal Year 2023-24 unrestricted General Fund operating surplus, projected to be $10.8 million, will be transferred to the Facilities Financing Plan Fund to be allocated in the future to infrastructure or neighborhood capital improvements. ENVIRONMENTAL REVIEW: Staff recommends the City Council find this action is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. 17- 7 Year -End Budget Results and Surplus Allocation October 22, 2024 Page 8 NOTICING: The agenda item has been noticed according to the Brown Act (72 hours in advance of the meeting at which the City Council considers the item). ATTACHMENTS: Attachment A — Budget Amendment No. 25-027 Attachment B — Budget Amendments for the Fourth Quarter 17-8 F q. �"�N<fFORN`P Department: Finance Requestor: Jason AI -Imam City of Newport Beach BUDGET AMENDMENT 2024-25 ❑ CITY MANAGER'S APPROVAL ONLY El COUNCIL APPROVAL REQUIRED ONETIME: ❑ Yes ❑ No Approvals ATTACHMENT A BA#: 25-027 Finance Director:Date 1 Di Ilf2 Citv Clerk: Date EXPLANATION FOR REQUEST: To appropriate the FY 2023-24 year-end unrestricted surplus. Funds will be allocated to the FFP Fund to be used for ❑ from existing budget appropriations future capital projects. ❑ from additional estimated revenues ❑ from unappropriated fund balance REVENUES Fund # Org Object Project Description Increase or (Decrease) $ 513 51399 691010 INTERFUND TRANSFERS - TRANSFER IN GENERAL FUND 10,819,260.00 Subtotall $ 10,819,260.00 EXPENDITURES Fund # Org Object Project Description Increase or (Decrease) $ O10 01099 991513 GENERAL FUND INTERFUND TRANSFR -TRANSFER OUT FFP 10,819,260.00 Subtotal $ 10,819,260.00 FUND BALANCE Fund # Object Description Increase or (Decrease) $ O10 300000 GENERAL FUND - FUND BALANCE CONTROL (10,819,260.00) 513 300000 FACILITIES FINANCING PLAN - FUND BALANCE CONTROL 10,819,260.00 Subtotal $ No Change In Fund Balance 17-9 ATTACHMENT B City of Newport Beach Fiscal Year 2023-24 Budget Amendments Quarter Ending June 30, 2024 Net Effect on Fund Balance BA# Date Amendment Type Fund Revenues Expenditures Increase/(Decrease) Department Explanation 66 04/09/2024 CC GENERAL FUND 34,181.00 34,181.00 RSS To recognize revenues from the State of California Division of Boating and Waterways (State DBW) grant in Marina Park Sailing and increase expenditures associated with the grant in Marina Park Equipment NOC. 67 04/18/2024 CM GENERAL FUND 648.16 648.16 Library To recognize revenues in and increase expenditures in the Library Cultural & Arts Special Events account and increase expenditures in the Library Cultural & Arts Exhibition Event account. 68 04/19/2024 CM GENERAL FUND 4.810.00 1.610.00 3,200.00 CDD To recognize revenues in the Real Property General Fund from TIDE & SUBMERGED LANDS FUND 3,200.00 (3,200.00) Ruby's Balboa Pier Concession and WNCC Pacifica HS and GENERAL FUND CAPITAL PROJECTS 625,391 00 625.391.00 Expense funds to the East Coast Highway and San Miguel Drive 69 O5/14/2024 CC WATER CAPITAL FUND 1,750,000.00 1,750,000.00 - Public Works Pavement Rehabilitation project (23R11) and Evening Canyon GENERAL FUND 625.391.00 (625,391.00) Road Drainage Improvements project account and the Shore Cliff WATER ENTERPRISE FUND 1,750,000.00 (1,750,000.00) Community Water System Improvement project (24W 14). GENERAL FUND 408.768.25 217.711.81 191,056.44 Multiple 71 05/28/2024 Cc TIDE & SUBMERGED LANDS FUND 82,345.38 - 82,345.38 To adjust revenue estimates and expenditure appropriations MEASURE M-COMPETITIVE FUND 7.711.81 7,711.81 relating to the fiscal year 2023-24 quarter three staff report. ENVIRONMENTAL CONTRIBUTIONS 218,237.63 (218,237.63) 72 05/07/2024 CM BALBOA VILLAGE PARKING MGMT - - PW To transfer funds from project 53501-980000-19T13, Balboa Peninsula Summer Trolley to 53501-980000-17T13, Balboa Peninsula Trolley to ensure sufficient funding in the accurate project based on the timing of grants. Per Council Policy F-3, E.7.b, a transfer of funds between CIP projects that use the same funding source and are for substantially the same project purpose can be done with the approval from the City Manager. 73 05/08/2024 CC GENERAL FUND 13,270.00 13,270.00 PD To recognize revenues from the 2021 Emergency Management Performance Grant (EMPG) from FEMA in Emergency Preparedness and increase expenditures associated with the grant in Emergency Preparedness. 74 05/28/2024 CC GENERAL FUND 14,269.00 14,269.00 PD To recognize revenues from the 2022 Emergency Management Performance Grant (EMPG) from FEMA in Emergency Preparedness and increase expenditures associated with the 75 05/15/2024 CM GENERAL FUND - - PD/PW To transfer budget from Police Traffic Services Professional to Public Works Facility Maintenance - Maintenance and Repair Building for the ongoing animal shelter maintenance. 76 05/28/2024 CC OCEANFRONT ENCROACHMENT FUND - 152,041.00 (152,041 00) Public Works To appropriate funds from the Oceanfront Encroachment unappropriated fund balance for the 38th Street and Lake Avenue Landscape Improvement Proeict (241-01). 77 05/16/2024 CM GENERAL FUND - - PD To transfer budget from expected salary savings in Patrol Salaries Part Time for the PD Surveillance Camera Project, Lobby Bulletproof Barrier Project, and Recruitment Advertising. 78 05/16/2024 CC CONTRIBUTIONS FUND 42,000.00 42,000.00 PW To accept new revenue from the Orange County Santitation Distrct and expense the revenue to the Balboa Boulevard, Newport Boulevard, and 32nd Street Pavement Rehabilitation project (22R11). 79 05/21/2024 CM GENERAL FUND - - PW To appropriate disencumbered funds from the Turk Renovation account to Park Renovations for Back Bay View and for needed irrigation maintenance. 80 05/28/2024 CM GENERAL FUND 9.847.44 9.847.44 - PD To increase revenue estimates and expenditure appropriations SPECIAL PURPOSE DEPOSIT FUND (9,847.44) from the Police Donations Special Deposit Account. Funds will be 81 05/24/2024 CM CONTRIBUTIONS FUND 4,021 50 4,021 50 PW Accept reimbursement from the City of Costa Mesa for costs 82 05/30/2024 CM GENERAL FUND 3,075.86 3,075.86 LIB To recognize revenues in the Library's Cultural Arts - Special Events account and increase expenditures in the Library's 84 06/06/2024 CM TIDE & SUBMERGED LANDS FUND - - Harbor To transfer budget from Harbor Office Furniture/Fixutres to Maint/Repair Marinas for trash containers. GENERAL FUND - - To transfer budget from Library's Cultural and Arts Programming 85 06/30/2024 CM Library/RSS to Recreation and Senior Services Civic Center Rentals Services Professional; recreation paid for the security guard for the Art 17-10