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City of San Leandro <br />Meeting Date: March 14, 2022 <br />Staff Report <br />Agenda Section:File Number:22-165 ACTION ITEMS <br />Agenda Number:12.a. <br />TO:City Council <br />FROM:Fran Robustelli <br />City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:Staff Report for a City of San Leandro City Council Presentation and Resolution <br />to Present and Approve the 2021-2022 Mid-Year Financial Report as of <br />December 31, 2021 and the Second Quarter Budget Amendment for the <br />2021-2022 City Operating Budget <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends approval of the resolution accepting the 2021-2022 Mid-Year Financial Report <br />as of December 31, 2021 and Approving the Second-Quarter Budget Amendment for the Fiscal <br />Year 2021-2022 City Operating Budget. <br />BACKGROUND <br />The City Council approved the Fiscal Year 2021-2022 and 2022-2023 General, Enterprise, <br />Internal Service, and Parking Fund budgets on June 28, 2021. The approved budgets feature the <br />annual expenditure and resource allocation plan that guide the implementation of City Council <br />budget policies and priorities. The budget provides funding direction for the broad range of <br />services that meet the needs of the community in accordance with City Council policy. <br />This financial review provides the mid-year budget update to the City Council for the current fiscal <br />year. Analysis of the revenues collected and all expenditures through December 31, 2021 <br />measures operational adherence to the budgetary allocation plan. <br />DISCUSSION-Mid-Year Report <br />The City budget for 2021-2022 was adopted on June 28, 2021. The amended budget <br />incorporates current estimates for revenue and expenditure appropriations for all funds as of <br />December 31, 2021. The attached 2021-2022 Mid-Year Financial Report as of December 31, <br />2021 provides the revenue and expenditure summary for the General, Enterprise, Internal <br />Service, and Parking Fund. The following detailed discussion offers comparisons to the prior <br />year and focuses on variances from the revenue and expenditure plans and allocations <br />Page 1 City of San Leandro Printed on 3/9/2022