City of Palm Desert Changes in Fund Balances of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis of Accounting)

Revenues:20252024202320222021
Taxes99,920,08187,339,33786,687,91984,037,19165,209,322
Special assessments collected3,857,7923,697,6663,618,9723,407,1073,381,657
Licenses & permits1,870,5681,990,6323,111,1762,622,6951,504,694
Intergovernmental revenues8,118,98911,371,1286,711,36312,300,07120,136,679
Rental income9,866,7729,463,3068,958,9608,129,0257,320,419
Charges for services10,783,47410,284,6378,743,7946,175,5004,889,634
Investment Earnings17,085,93218,508,08112,129,730(2,402,801)1,298,728
Fines & forfeitures152,182106,152127,087105,198147,671
Miscellaneous1,251,33811,955,948852,1537,340,8083,776,838
Contributions from other government---1,974,653-
Total Revenues152,907,128154,716,887130,941,154123,689,447107,665,642
Expenditures:
General government35,343,81334,683,36724,896,94624,079,56323,478,543
Housing & redevelopment9,523,00813,090,69410,310,5518,232,4408,839,559
Public safety45,392,84043,449,97040,660,24837,322,95134,035,102
Parks, recreation & culture15,416,61218,912,57217,708,6347,439,6876,073,015
Public works12,624,61914,102,65615,287,88817,667,80518,533,419
Library2,934,418606,561---
Capital outlay23,864,71824,510,1047,835,76212,110,6777,840,438
Debt service:
Principal retirement619,246582,854263,8092,294,052174,000
Interest and fiscal charges111,809153,203135,903157,462184,529
Total Expenditures145,831,083150,091,981117,099,741109,304,63799,158,605
Excess(deficiency of Revenues over(under) expenditures7,076,0454,624,90613,841,41314,384,8108,507,037
Other financing sources (uses)
Transfers in29,910,32215,057,58026,746,47311,555,40210,186,341
Transfers out(33,504,265)(15,155,662)(27,707,762)(11,864,512)(11,230,751)
Special Item (3)-----
Extraordinary Gain / (Loss) (2)---2,603,284-
Sale of property-(295,519)(88,163)(1,001,688)-
Lease and subscription arrangements670,410473,763529,156--
Total Other financing sources (uses)(2,923,533)80,162(520,296)1,292,486(1,044,410)
Net Change In Fund Balance4,152,5124,705,06813,321,11715,677,2967,462,627
Debt service as a percentage of noncapital expenditures0.6%0.6%0.4%2.5%0.4%
Revenues:20202019201820172016
Taxes59,635,91867,102,18561,906,85959,466,54556,735,503
Special assessments collected3,481,9243,948,1573,445,2463,318,1143,296,705
Licenses & permits1,268,9651,416,8291,326,0491,678,7092,057,843
Intergovernmental revenues6,401,9266,194,1525,682,7047,249,51515,429,238
Rental income7,071,6486,899,9166,675,6326,439,4585,896,480
Charges for services5,272,5775,223,2852,894,8212,356,3632,082,843
Investment Earnings10,311,1597,166,0973,626,8922,086,2241,837,319
Fines & forfeitures127,801273,434162,370135,276295,269
Miscellaneous4,741,9052,892,9402,886,5422,594,4332,317,499
Contributions from other government---3,550,991-
Contributions from property owners----7,868
Total Revenues98,313,823101,116,99588,607,11588,875,62889,956,567
Expenditures:
General government21,468,51224,269,54619,281,10216,887,29315,783,955
Housing & redevelopment7,090,9417,504,1198,522,8019,239,6806,438,849
Pass-through-agreement-----
Public safety37,021,95236,901,28336,247,65634,674,41833,750,347
Parks, recreation & culture5,902,1666,497,3916,467,7137,157,8216,831,534
Public works21,994,8068,728,35412,183,8528,794,89411,031,584
Contributions to property owners----19,584,487
Capital outlay5,117,9683,396,511915,4222,169,0357,071,738
Debt service:
Principal retirement225,000587,000150,000237,000257,000
Interest and fiscal charges210,292244,050260,971277,814296,336
Total Expenditures99,031,63788,128,25484,029,51779,437,955101,045,830
Excess(deficiency of Revenues over(under) expenditures(717,814)12,988,7414,577,5989,437,673(11,089,263)
Other financing sources (uses)
Transfers in10,702,7625,319,4486,613,3529,406,8886,030,706
Transfers out(11,377,965)(5,736,558)(6,313,352)(12,218,428)(6,075,206)
Special Item (3)-(6,000,000)---
Extraordinary Gain / (Loss) (2)----72,138,669
Sale of property----225,000
Lease and subscription arrangements-----
Total Other financing sources (uses)(675,203)(6,417,110)300,000(2,811,540)72,319,169
Net Change In Fund Balance(1,393,017)6,571,6314,877,5986,626,13361,229,906
Debt service as a percentage of noncapital expenditures0.5%1.0%0.5%0.7%0.6%

(1) On February 1, 2012 the State of California dissolved the City of Palm Desert Redevelopment Agency as part of the Statewide dissolution of all

(1) On February 1, 2012 the State of California dissolved the City of Palm Desert Redevelopment Agency as part of the Statewide dissolution of a City Redevelopment Agencies, which in turn created the Successor Agency to the Redevelopment Agency of the City of Palm Desert. For more information on the dissolution of the RDA please see Note 16 and 17. (2) The City's Capital Properties Capital Project Fund received $65,566,963 and the Housing Asset Fund received $6,571,706 for a combined total of $72,138,669 of capital bond proceeds transferred from the Successor Agency. (3) City established an allowance for advances owed by the Successor Agency.

Source: CITY Finance Department