However, those surpluses are likely to increase thanks to the cautious projection of medicinal marijuana tax revenue. The city capped the revenue estimates at $4 million each year but is expecting about $5.2 million each year, thus giving the city a sizable boost in its year-end balances.
Additionally, Sara Taylor, the city’s budget manager, said there are some fee increases for the Recreation and Community Services Program due to a $1 increase in the minimum wage, which was effective on Jan. 1.
“Staff annually reviews the fees to enable the city to provide valuable services,” she added. “They continue to be impacted by the minimum wage increase.”
The Rancho Buena Vista Adobe, Moonlight Amphitheatre, AVO Playhouse, Wave Waterpark and the senior center will also see increases, Taylor said.
Effective June 9, fees will increase at Moonlight as reserved lawn seat prices are set to rise by $11, while all other ticket prices will experience a rise of $2 for summer, Taylor said. Summer subscriptions remain at 25% off the single-ticket price.
The waterpark will see an increase of $1 for daily admission and season passes, Taylor said, and private party rentals. Vista residents, though, receive a discount to the Moonlight Amphitheatre and Wave Waterpark.
As for the operating budget, the city is projecting a $161.9 million for FY 2021-22 and $166.6 million for FY 2022-23, Taylor said.
The General Fund, which is the primary funding source for services, has estimated revenues for FY 2021-22 of $87.1 million, plus $7.7 million in other financing sources, for a total of $94.8 million, she added. The estimated General Fund expenditures for the operation budget totals $82.4 million, plus $11.7 million from transfers out to Proposition L debt service, subsidies, and transfers out, for a total of $94.2 million.
Taylor said given these projections, the General Fund is expected to have a surplus of $657,505 for FY 2021-22.
As for FY 2022-23, the General Fund estimated revenues of $90.1 million, plus $7.1 million in other financing sources, for a total of $97.2 million. The estimated General Fund expenditures are projected at $85.4 million, plus $11.5 million, which is also comprised of transfers out to Proposition L debt service, subsidies, and transfers out, for a total of $96.9 million, Taylor reported.
Vista is expecting a slightly lower surplus of $274,616 for FY 2022-23