HomeMy WebLinkAboutFin Fiscal Year 2020-2021 City-Wide Budget Amendments and Fiscal Year 2021-2022 Update PPTFISCAL YEAR 2020-21
CITY-WIDE BUDGET
AMENDMENTS AND FISCAL
YEAR 2021-22 UPDATE
CITY COUNCIL
MEETING
SEPTEMBER 20, 2021
FY 2020-21 BUDGET AMENDMENTS
GF -revised revenues of $87.1 million, 15% above
adopted budget
Sales tax and use tax increase
Property transfer tax increase
Excess Educational Revenue Augmentation Fund
(ERAF)
CARES Act funds
Building permit fees
GF –revised expenses of $79.8 million, 0.33% above
adopted budget
FY 2020-21 BUDGET AMENDMENTS
Other Funds
Reduced gas tax transfer
Increased support in operations to the Recreation
Fund
Net unassigned funds –estimated at $6-7 million
$520k allocated to emergency reserve
$533k earmarked for furlough repayments
$4.5 million earmarked in the recently approved 3-
year compensation contracts
FY 2021-22 BUDGET STATUS
Revenues and expenses are on track
Requesting a new position
To support City Council goals and objectives
Fiscal impact of $3k due to replacing a position
First compliance report submitted August 31st
Use of funds continues to be focused on the
City’s policy focus areas
Use of funds will be tracked by project
AMERICAN RESCUE PLAN ACT
(ARPA)
RECOMMENDED ACTIONS
Approve resolution adopting amendments
authorizing appropriations and transfers for Fiscal
Year 2020-21
Approve resolution adopting amendments for the
purposes of personnel changes for Fiscal Year
2021-22