The URL can be used to link to this page

Home My WebLink AboutAGENDA REPORT 2021 0217 CCSA REG ITEM 09B POWERPOINTFISCAL YEAR 2020-21 MID-YEAR BUDGET Kambiz Borhani, CPA, CGMA Finance Department Presentation Agenda Budget Process Concerns Adjustments Focus Issues & Highlights Revenues Expenditures Second Quarter Sales Tax Trends Revenue Adjustments Budget Appropriations Cost Containment Measures Mid-Year Report Issues and Highlights •Challenges this year with budgeting process •FY 2021 budgeting process began before the Pandemic •The City developed an austerity and balanced budget •Concerned about uncertainties and Sales and Use Tax revenue •Adjustments needed now and later •Proposed figures are based on available information as of December 2020 •The focus will be on General Fund Second Quarter FY 2020-21 General Fund Second Quarter Revenues –General Fund $4,952 $5,048 $94 $58 $98 $452 $614 $516 $226 $337 $658 $10 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 20/21 Second Quarter 19/20 Second Quarter Thousands FY2019/20 vs. FY2020/21 -Second Quarter Taxes & Franchise Lisences & Permits Use of Money Charges for Services Other Intergovernmental Second Quarter Expenditures –General Fund $2,305 $2,319 $3,637 $3,911 $117 $110 $201 $1,466 $60 $8 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 20/21 Second Quarter 19/20 Second Quarter ThousandsFY19/20 vs. FY20/21 -Second Quarter Salary & Benefits Services & Supplies Utilities Capital Transfers Out Mid-Year Budget Sales & Use Tax Trends Consumer Spending U.S. Retail Sales U.S. E-Commerce Sales Tax Forecast Statewide Sales Tax Forecast Statewide 2020 Statewide Sales Tax -Industry Outlook Summary of Sources & Uses –General Fund Proposed Adopted Proposed Proposed Proposed Revised 2020-2021 Revenue Budget Reduction of 2020-2021 Budget Adjustments Appropriations Appropriations Budget Sources: Property Taxes $ 9,282,500 $(14,482)$ 9,268,018 Sales & Use Taxes 3,506,000 711,725 4,217,725 Transient Occupancy Taxes 120,000 120,000 Franchise Fees 1,162,000 1,162,000 Use of Money & Property 842,000 (141,090)700,910 Federal, State & Local Funding 2,149,373 2,149,373 Fees for Services 1,409,369 (184,766)1,224,603 Other Revenues 784,700 (117,500)667,200 Total Sources 19,135,942 373,887 --19,509,829 Uses: City Manager's Office 2,298,446 233,743 (50,800)2,481,389 Finance 1,559,794 18,187 (11,000)1,566,981 Parks, Recreation & Comm. Svcs.3,342,847 72,547 (76,100)3,339,294 Public Safety 7,749,933 (247,536)7,502,397 Public Works / Comm. Dev.1,062,907 (36,154)1,026,753 Total Expenditures 16,013,927 -324,477 (421,590)15,916,814 Total Transfers Out 3,122,015 10,000 3,132,015 Total Uses 19,135,942 -334,477 (421,590)19,048,829 Net Sources (Uses)0 $ 373,887 $ 334,477 $ (421,590)$ 461,000 Summary of Sources & Uses –All Funds Proposed Adopted Proposed Proposed Proposed Revised 2020-2021 Revenue Budget Reduction of 2020-2021 Budget Adjustments Appropriations Appropriations Budget Sources: Property Taxes $ 8,362,500 $ (14,482) $ 8,348,018 Sales & Use Taxes 3,506,000 711,725 4,217,725 Transient Occupancy Taxes 120,000 120,000 Gas Tax 1,462,000 60,313 1,522,313 Use of Money & Property 436,000 (153,090) 282,910 Federal, State & Local Funding 1,206,741 543,427 1,750,168 Fees for Services 507,154 (184,766) 322,388 Other Revenues 386,500 (151,500) 235,000 Total Sources 15,866,895 931,627 - - 16,798,522 Uses: City Manager's Office 212,443 233,743 (50,800) 395,386 Finance 11,500 18,187 (18,175) 11,512 Parks, Recreation & Comm. Svcs. 898,987 143,943 (159,600) 883,330 Public Safety 7,072,453 (247,536) 6,824,917 Public Works / Comm. Dev. 722,856 89,079 (92,164) 719,771 Total Expenditures 8,918,239 - 484,952 (568,275) 8,834,916 Total Transfers Out 1,160,635 10,000 1,170,635 Total Uses 10,078,874 - 494,952 (568,275) 10,005,551 Net Sources (Uses)N/A 931,627$ 494,952$ (568,275)$ 1,000,000$ Reserves $26,606,185 Special Projects Fund $10,385,287 Endowment Fund $3,827,188 Emergency/Contingency $500,000 Economic Uncertainty Questions?