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Fiscal Year 2018-19 Mid -Year Budget Update <br />February 5, 2019 <br />Page 6 <br />As a reminder, 2/3 of the Commercial Cannabis tax revenue or $5.2 million was earmarked for <br />Youth and Enforcement programs. No expenditures for Youth Programs and Cannabis <br />Enforcement have been incurred through December 31, 2018, as no Commercial Cannabis tax <br />revenue has been collected. Below is a summary of the Commercial Cannabis revenue and <br />expenditure plan as adopted: <br />Fiscal Year Budget Actual/Expected <br />Revenue 2018-19 $7.8 million $0.6 million <br />Expenditure General Fund 2018-19 <$2.6 million> <$2.6 million> <br />Expense Enforcement 2018-19 <$2.6 million> $0.0 million <br />Expense Recreation 2018-19 <$2.6 million> $0.0 million <br />Finally, there are other projects and budget assumptions have not been implemented through <br />December 31, 2018. Specifically, minimal expenditures have been incurred in the Public Works <br />Agency -Sanitation program related to enterprise compliance through December 31, 2018 <br />budgeted at approximately $1.6 million. In addition, forecasted labor savings of $1.5 million has <br />not been realized and an adjustment to the appropriated budget is recommended. <br />Non -General Fund Expenditures: <br />Gas Tax Expenditures <br />As a result of the lower than anticipated Gas Tax revenues (see above), we will need to reduce <br />the expenditures by the same amount. Staff will work with Public Works to identify the impacted <br />projects. <br />City Services <br />As a result of cannabis enforcement efforts of illegal dispensaries, settlements have been <br />collected in the amount of $137,500. To continue enhancing these efforts, these monies are <br />recommended to be utilized for staff training and contracts related to the cannabis program. As <br />additional fines are collected, these monies will be collected and appropriated in future budget <br />years. <br />General Fund Balance Summary <br />The Fiscal year 2018-19 Budget began with a planned $10.2 million use of General Fund <br />balance. After Midyear revenue and expenditure adjustments, the estimated use of general fund <br />balance has been decreased to $0.6 million, as outlined below. <br />65C-6 <br />