HomeMy WebLinkAboutItem 11 - Presentation
2FISCAL YEAR 2021QUARTER BUDGET REPORT
Fiscal Year 2021 2$5.8 million included in projections for FY 2021.CARES Act funding (State and County) of approximately •expense reductions made in July 2020.Decrease General Fund revenues
to correspond with •(overall projected increase of $3.2 million).projection for each sales tax measure is $21.6 million budgeted at $20.2 million, and the revised revenue Both Measure
A and Measure P Sales Tax were each •Budgetary Notes
Fiscal Year 2021 3 Second Quarter Monitoring Report
General Fund 4 Revenue Projections
General Fund 5 Expenditure Projections
Fiscal Year 2021 6.4,654,345for the General Fund by $increaseAll proposed adjustments result in a net cost Decrease Passport Fees revenues by $217,140 based on projections. –Library•19
and inability to operate City sponsored programs. -due to COVIDDecrease departmental revenues by $2.1 million due to closure of various city facilities –Parks and Recreation•appropriations.Increase
revenues and expenses by $1.8 million to establish Fire's Strike Team –Fire Department•sales tax revenues.Increase expenses by $798,969 for the State's administration/collection of
all related –businesses.Decrease cannabis excise tax revenue by $850,000 due to delays in opening of cannabis –million) and Measure P Sales Tax Fund ($1.3 million).Increase transfer
out expense by $2.6 million to both Measure A Sales Tax Fund ($1.3 –million. Increase Measure A and Measure P sales tax revenues (~$1.6 million each) by $3.2 –Departmental-Non•General
Fund Significant Budget Adjustments Second Quarter Adjustments
Fiscal Year 2021 7$2,580,243.for the Other Funds by decreaseAll proposed adjustment result in a net cost balance to other expenses for refunding developer trust credits. Appropriate
$57,160 from available fund -Parkland Acquisition & Dev Fees Fund•Action Planning Grant to accelerate planning for housing production. Appropriate $500,000 in revenues and expenses
for the Local Early -State Grants•projected increase in sales tax revenues. Increase transfer in revenues by $1.3 million due to -2018 Measure A Sales Tax•to projected increase in sales
tax revenues.Increase transfer in revenues by $1.3 million due -2016 Measure P Sales Tax Fund•Other Funds Significant Budget Adjustments Second Quarter Adjustments
Next Steps 8 Budget (All Funds)Public Hearing and Recommend Council adoption of Proposed FY 2022 •May/JuneOverviewPresent Fiscal Year 2022 All Funds Budget and CIP City Council: •City
Manager Proposed Budget document submitted to Council•Hold public workshop to provide overview of proposed budget•May Fiscal Year 2021 Third Quarter Financial Report•Preliminary City
Manager Proposed Budget Council Discussion Item•April
City Council Comments/Feedback