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City of San Leandro Meeting Date: January 19, 2021 Staff Report Agenda Section:File Number:21-005 PRESENTATIONS Agenda Number:4.B. TO:City Council FROM:Fran Robustelli Interim City Manager BY:Susan Hsieh Finance Director FINANCE REVIEW:Susan Hsieh Finance Director TITLE:Staff Report for a MOTION to Accept the Fiscal Year 2020-21 1st Quarter Financial Report as of September 30, 2020 SUMMARY AND RECOMMENDATIONS MOTION to Accept the Fiscal Year 2020-21 1st Quarter Financial Report as of September 30, 2020 BACKGROUND The City Council adopted the Fiscal Year (FY) 2020-21 General Fund, Enterprise and Internal Service Funds, and the Parking Fund budgets as part of the biennial budget on June 3, 2019. On June 15, 2020, the Council amended the budgets to reflect the expected financial impacts of the COVID-19 pandemic. The approved budgets are the annual expenditure plan and resource allocation guiding and ensuring implementation of City Council policies and priorities. The budget implements the vision and direction for the broad range of services meeting the needs of the community in accordance with City Council policy. This financial review as of September 30, 2020 provides the 1st Quarter budget update to the City Council for the current Fiscal Year. Analysis of the revenues collected and all expenditures through September 30, 2020 measures operational adherence to the allocations outlined in the budget. DISCUSSION The amended budget incorporates estimated revenues and planned expenditures for all funds. The attached FY 2020-21 1st Quarter Financial Report as of September 30, 2020 provides the revenue and expenditure summary for the General Fund, Enterprise and Internal Service Funds, and the Parking Fund. The detailed discussion below offers comparisons to the prior year and focuses on variances from the revenue and expenditure plans and allocations contemplated in the Page 1 City of San Leandro Printed on 1/14/2021 48