HomeMy WebLinkAbout2020-09-22 - Item 6 - Presentation
42020-FISCAL YEAR 2019QUARTER BUDGET REPORT
Fiscal Year 2019 2 revenues, and public safety19 continues to be a threat to City operations, -COVID•2020transactions that have been recorded as of September Actuals for both revenue
and expenditures are based on •Actuals were $2 million over budget.million below budget. Out expense for Measure A and P $2.4 -Anticipated Transfer–$37k over budget.Actuals were Anticipated
TOT revenues $1.1 million below budget. –Actuals were $2 million over budget.$5.4 million below budget. (Sales Tax, Measure A and P)Anticipated Sales Tax related revenues –19 in the
General Fund -decrease in expenses due to COVID$6.4 million decrease in revenues, and $2.5 million Staff originally anticipated as part of the Q3 projection a •Budgetary Notes20 -
Fiscal Year 2019 3 closing the bookschange to the numbers presented may occur as part of end closing process a -As part of the Fiscal Year 2020 year•30, 2020.and State. CARES Act funds
must be spent by December in Fiscal Year 2020 of CARES Act funding from the County Recognition of approximately $2 million of the $8.8 million •Budgetary Notes20 -
Fiscal Year 2019 4 General Fund Fourth Quarter Monitoring Report20 -
Fiscal Year 2020 5 General Fund Revenues
Fiscal Year 2020 6 General Fund Expenditures
Fiscal Year 2020 7 General Fund Expenditures
Fiscal Year 2019 8 for the General Funds of $730,704.increaseNet Cost •anticipated revenues collected for the RV Park in FY2020.$86,600 to the Chula Vista Bayfront commitment due to
less than Out appropriations by -Decrease Transfers-Departmental -Non•19.-FEMA reimbursements due to COVIDIncrease both revenue and expense appropriations by $404,066 for •Fund funds
for reimbursement of eligible expenses.General -CARES Act revenues budgeted in the General Fund to NonTransfer $800,529 of County of San Diego -Departmental -Non•actuals that exceeded
budget.revenue appropriations by $1,010,494 for FY2020 Measure A Out expense and -Increase both Transfers-Departmental -Non•actuals that exceeded budget.revenue appropriations by $1,037,426
for FY2020 Measure P Out expense and -Increase both Transfers-Departmental -Non•General Fund Significant Budget Adjustments Fourth Quarter Adjustments20 -
Fiscal Year 2019 9 for the Other Funds of $2,403,018.decreaseNet Cost •FY2020 SAFER Grant reimbursements for the Fire Department.Increase revenues by $348,863 for -2018 Measure A Sales
Tax •19.-CARES Act reimbursements due to COVID$666,028 and increase revenues by $800,529 for County Increase expense appropriations by -•budget.$1,010,494 for FY2020 Measure A actuals
that exceeded In revenues by -Increase Transfer-2018 Measure A Sales Tax •that exceeded budget.the General Fund by $1,037,426 for FY2020 Measure P actuals In revenues from -Increase
Transfer-2016 Measure P Sales Tax •Other Funds Significant Budget Adjustments Fourth Quarter Adjustments20 -
Next Steps 10(All Funds)Public Hearing and Recommend Council adoption of Proposed FY 2022 Budget •JunePresent Fiscal Year 2021 All Funds Budget and CIP OverviewCity Council: •City Manager
Proposed Budget document submitted to Council•budgetHold two public workshops to provide overview of Fiscal Year 2022 proposed •May Fiscal Year 2021 Third Quarter Financial Report•Preliminary
City Manager Proposed Budget Council Discussion Item•AprilDiscussionCity Council Workshop: FY 2022 Budget Projection Discussion, Updated LTFP •MarchBudget ReviewYear -Develop Fiscal
Year 2022 Baseline Budget; include changes from Mid•Projections)Year Fiscal Year 2021 Budget Review (Second Quarter Financial -Mid•February–January Presentation of the Fiscal Year 2020
CAFR•January Fiscal Year 2021 First Quarter Financial Report•November
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