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10B Consent
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10B Consent
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3/21/2024 5:51:46 PM
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5/31/2023 11:56:25 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
4/17/2023
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City of San Leandro <br />City Council <br />Meeting Date: April 17, 2023 <br />Agenda Number: 10.b. <br />Agenda Section: CONSENT CALENDAR <br />File Number: 23-144 <br />File Type: Staff Report <br />Adopt Resolution Approving 2022-2023 Mid-Year Financial Report as of December 31, 2022, and <br />Approving Budget Amendments for 2022-2023 <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends the City Council adopt the resolution approving the 2022-2023 Mid-Year <br />Financial Report and approving budget amendments for 2022-2023. <br />BACKGROUND <br />The City Council approved the 2021-2022 and 2022-2023 General, Enterprise, Internal Service, <br />and Parking Fund budgets on June 28, 2021. The City Council also approved a budget <br />adjustment during the Mid-Cycle Budget Review on June 21, 2022. The approved budgets <br />feature the annual expenditure and resource allocation plan that guides the implementation of City <br />Council budget policies and priorities. The budget provides funding direction for a broad range <br />of services that meet the needs of the community in accordance with City Council policies. <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, 2022, <br />measures operational adherence to the budgetary allocation plan. <br />DISCUSSION (Mid-Year Report) <br />The City budget for 2022-2023 was adopted in June 2021. The amended budget incorporates <br />current estimates for revenue and expenditure appropriations for all funds as of December 31, <br />2022. The attached 2022-2023 Mid-Year Financial Report as of December 31, 2022, provides <br />the revenue and expenditure summary for the General, Enterprise, Internal Service, and Parking <br />Fund. The report provides detailed revenue and expenditure comparisons to the prior year while <br />also focusing on variances from financial plans and budgeted allocations. <br />General Fund <br />The General Fund finances the operations of the City having no special or dedicated revenue <br />sources and pays for basic municipal services. The amended 2022-2023 General Fund budget <br />projects revenues totaling $133,525,000 and expenditures totaling $151,916,000, including <br />purchase order encumbrances from 2021-2022, approved carryover amounts, and several City <br />Council approved appropriation amendments prior to December 2022. <br />Mid-year revenue in 2022-2023 totals $49,702,000, 37% of the amended budget of <br />$133,525,000, compared with 36% in 2021-2022. Mid-year expenditures total $52,743,000, <br />Page 1 City of San Leandro Printed on 5/3/2023
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