The Livermore Area Recreation and Park District operates on a fiscal-year basis beginning on July 1 and ending on June 30 the following year. In accordance with the Public Resource Code, Section 5788-5788.9, the District is required to adopt a Preliminary Budget by July 1 and a Final Budget no later than August 31. The District's Fiscal Year 2018-19 final operating and capital equipment budget was adopted by Board Resolution on August 7, 2018 in the amount of $22,017,048. The capital improvement expenses are $13,722,564. The District's total expense plan for Fiscal 2018-19 is $35,739,612. The budget includes a projected reserve of 22% of operating costs, as of June 30th, 2019. The District continues to stand debt-free and present a balanced budget.
The Budget includes the provisions of programs and services for children, teen, adults, seniors, and maintenance of facilities, parks, trails and open space parks that serve the community. Park improvement projects include renovation of playgrounds at Big Trees Park, May Nissen Park, Pleasure Island Park, and Jane Addams Preschool, the renovation of the Arroyo Del Valle trail at Sycamore Grove Park, and a partnership with Tri-Valley Conservancy to construct a bridge that will span the creek at the south end of Sycamore Grove Park as part of the regional trail. This budget includes a 3.6% cost of living adjustment (COLA), and market improvement factors for job classifications that were identified as materially under market based on a comprehensive compensation study that was completed in March, 2018. The District will implement a deferred compensation match of up to 4% for part-time benefited staff, and will contribute additional dollars to cover anticipated health cost increases for benefited staff. Property tax projections continue to rise, which is encouraging news since the revenue source makes up about half of the total District revenues. The District's operating units continue to provide the remainder of the revenue that funds the many innovative programs and services that are highly valued by the community.
This budget also reflects significant capital improvement spending in relation to high priority park and building infrastructure projects that were identified by the recently completed District-wide Asset Management study. Included in our capital improvement plans are a variety of energy-saving initiatives, including solar power at the Robert Livermore Community Center, and the renovation of the Robert Livermore Aquatics Center.
The Fiscal Year 2018-19 Final Budget is the culmination of a comprehensive budget planning process that included members of the Board of Directors, feedback from the public throughout the year, and our staff. It represents our effort to support the goals set forth in the District's Parks, Recreation and Trails Master Plan (2016), and policy direction from the Board of Directors. View the Fiscal Year 2018-19 Budget.