HomeMy WebLinkAboutAGENDA REPORT 2022 0216 CCSA REG ITEM 09C POWERPOINTFISCAL YEAR
2021-22
MID-YEAR BUDGET
PJ Gagajena
Assistant City Manager
Interim City Treasurer / Finance Director
ECONOMY
•Economic recovery positive during beginning of fiscal year
•Consumer spending
•Shopping
•Dining
•Hotel and travel
•Gas
•Economic impacts ongoing and in the future
•COVID-19
•Labor shortages
•Inflation and cost of goods
•Rate increases
•Conservative approach with minor adjustments to projected revenues
https://www.moorparkca.gov/889/Sales-Tax-Information
MID-YEAR BUDGET ADJUSTMENTS
•Revenues
•Increased revenues from permits and fees due to new business occupancies
•Expenditures
•Property maintenance services for new City Hall
•Library operations contract
•Upgrading a Planning Manager position to Deputy Community Development
Director
•Police motorcycle replacement
•Reductions
•Records retention project rescheduled and lower than anticipated redistricting
costs
•Police vehicle parts delay due to supply chain issues
•Net Fund Balance Impact is Zero –Expenditures offset by Revenues and Reductions
SUMMARY OF SOURCES &USES –GENERAL FUND
RES ERVES
$10,233,068
Endowment Fund
$3,950,214
Emergency/Contingency
$500,000
Economic Uncertainty
$30,611,651
Special Projects Fund
QUESTIONS?