HomeMy WebLinkAboutFin Fiscal Year 2021-22 City-Wide Budget Amendments and Fiscal Year 2022-23 Update PPTFISCAL YEAR 2021-22 CITY-
WIDE BUDGET
AMENDMENTS AND
FISCAL YEAR 2022-23
UPDATE
CITY COUNCIL
MEETING
SEPTEMBER 19, 2022
FY 2021-22 BUDGET AMENDMENTS
•American Rescue Plan Act -$16 million
GF –revised revenues of $109 million, 24% above adopted budget
•Workers’ Compensation and Liability Program actuarial results -$2.7 million
GF –revised expenses of $91 million, 4% above adopted budget
•Measure E –transfer for capital projectsGF –revised transfers
FY 2021-22 BUDGET AMENDMENTS
•Increased revenues and transfers in of $3.8 million
•Increased expenditures and transfers out of $4.6 million
Other Funds
PRELIMINARY YEAR-END RESULTS
•$1.1 million allocated to emergency reserve
•$15 million earmarked for projects funded by ARPA proceeds
•Remainder earmarked for grant matching for the Pickleweed Park Field Renovation project
Net available funds –estimated at $16-17 million
•Reported Investment Loss of $2 million
•Fiscal year ending June 30, 2022, will show pension plan fully fundedResults of note
FY 2022-23 BUDGET STATUS
Sales and Use taxes –lowered expectations
Expenditures –too early to provide any update
RECOMMENDED ACTION
Approve resolution adopting amendments
authorizing appropriations and transfers for Fiscal
Year 2021-22
