Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
City of San Leandro <br />Meeting Date: March 15, 2021 <br />Staff Report <br />Agenda Section:File Number:21-115 ACTION ITEMS <br />Agenda Number:10.A. <br />TO:City Council <br />FROM:Fran Robustelli <br />Interim City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:Staff Report for Resolution Accepting the 2020-21 Mid-Year Financial Report as <br />of December 31, 2020 and Approving the Second Quarter Budget Amendment <br />for the 2020-21 City Operating Budget <br />SUMMARY AND RECOMMENDATIONS <br />Resolution Accepting the 2020-21 Mid-Year Financial Report as of December 31, 2020 and <br />Approving the Second-Quarter Budget Amendment for the Fiscal Year 2020-21 City Operating <br />Budget. <br />BACKGROUND <br />The City Council approved the 2019-20 and 2020-21 General Fund, Enterprise and Internal <br />Service Funds, and the Parking Fund budgets on June 3, 2019. The approved budgets are the <br />annual expenditure plan and resource allocation guiding and ensuring implementation of City <br />Council policies and priorities. The budget implements the vision and direction for the broad <br />range of services meeting the needs of the community in accordance with City Council policy. <br />This financial review as of December 31, 2020 provides the mid-year budget update to the City <br />Council for the current fiscal year. Analysis of the revenues collected and all expenditures through <br />December 31, 2020 measures operational adherence to the budgetary allocation plan. <br />DISCUSSION- Mid-Year Report <br />The City budget for Fiscal Year (FY) 2020-21 was amended and adopted on June 15, 2020. The <br />amended budget incorporates estimated revenues and planned expenditures for all funds. The <br />attached FY 2020-21 Mid-Year Financial Report as of December 31, 2020 provides the revenue <br />and expenditure summary for the General Fund, Enterprise and Internal Service Funds, and the <br />Parking Fund. The following detailed discussion offers comparisons to the prior year and <br />focuses on variances from revenue and expenditure plans and allocations contemplated in the <br />budget. <br />Page 1 City of San Leandro Printed on 3/10/2021 <br />87