November 9 City Council Recap
Five-Year Budget Forecast, Reserve Funds and Traffic Element Updates
Five-Year General Fund Financial Forecast
Fiscal sustainability is a key element of every decision made by the City of Rocklin.
As part of detailed planning, staff from Rocklin’s finance division shared a budget analysis at the Nov. 9 City Council meeting that provides valuable insight into the City’s projected financial position over the next five years.
The five-year general fund forecast is a financial tool designed to help identify future revenue and expenditure trends that may have an immediate or long-term influence on decisions related to city policies, strategic goals, and delivery of core City services.
The forecast provided an optimistic outlook, with continued but measured growth in revenues, but at reducing rates.
Challenges identified included increasing CalPERS pension costs, insurance premiums increasing, and the possibility of overall expenditures outpacing revenues by FY 2026/27, if no changes occurred.
The City of Rocklin already employs a number of Key Management Practices that contribute to financial stability, which, along with new strategies, are part of recommendations to address identified challenges.
FY 20/21 Final Tally Shows Significant Reserves
Thanks to prudent planning and higher than expected sales tax income, the final numbers for the Fiscal Year 2020/2021 showed significantly higher revenues than anticipated.
The last fiscal year was a challenging and extraordinary one from many perspectives, due to the uncertainty caused by the COVID-19 pandemic. Entering the Spring of 2020 and facing pandemic-caused shutdowns, the City of Rocklin felt it was prudent to cut expenditures where possible and lower projections for revenues for the coming fiscal year.
As the final numbers for the fiscal year that ended on June 30, 2020, are now tallied, the City has nearly $8 million in reserves from the past fiscal year to allocate to future use.
A list of potential projects that would benefit the community was presented to City Council for consideration and general direction, including the items listed below. The Council was generally in support of the items and staff plans to bring proposals back to Council for more detailed consideration.
Traffic Issues Considered in Circulation Element Update
The City of Rocklin recently approved an update of its Housing Element, which calls for land use and zoning changes to meet state-mandated requirements to make the construction of additional future housing units possible.
Long-term plans that manage traffic must also be updated to reflect the changes in the latest Housing Element and staff presented options to City Council on Tuesday night.
City Council accepted staff recommendations and directed staff to prepare a more flexible version of the City’s current Level of Service policy, which refers to how many cycles it takes for a motorist to move through a traffic light during peak p.m. traffic hours.
The recommendations will provide opportunities for reasonable development of remaining properties within Rocklin, minimize the costs associated with initial transportation improvements and ongoing maintenance, provide more walkable streets and intersections, and provide for the reasonable movement of goods and services throughout the community while minimizing the potential for inducing regional traffic onto City streets.