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Public Hearing for the Proposed FY19-20 Budget
<br />June 18, 2019
<br />Page 4
<br />Beginning Unassigned Fund Balance
<br />Revenue
<br />Inter -Fund Transfers In
<br />Expenditures
<br />Inter -Fund Transfers Out
<br />Estimated Net Activity
<br />FY18-19 FY19-20
<br />Expected Proposed
<br />56,363,889 $ 57,769,992
<br />263,542,039 316,678,040
<br />250,000 -
<br />(250,079,352) (295,570,240)
<br />(12,306,584) (20,297,440)
<br />1,406,103 810,360
<br />Estimated Ending Unassigned Fund Balanc $ 57,769,992 $ 58,580,352
<br />Minimum Reserve Requirements:
<br />Operating Reserve (16.67%)
<br />Economic Uncertainty Reserve (1%)
<br />Total Minimum Requirement
<br />43,932,458 52,790,229
<br />2,635,420 3,166,780
<br />46,567,878 55,957,010
<br />Excess/(Deficiency) $ 11,202,114 $ 2,623,342
<br />FY19-20 Transfers Out include $6,153,300 to Cannabis Public Benefit
<br />Fund, $1,179,400 to Civic Center Maintenance Fund, $2,494,500 to
<br />Strategic Plan Fund, $600, 000 for General Plan and $9, 870, 240 for
<br />Debt Service.
<br />In addition to the minimum reserve requirements, the City Council's Budget and Financial
<br />Policies (adopted June 6, 2017) defines a balanced budget as "ongoing recurring operating
<br />revenues matching ongoing recurring operating expenditures including debt service." A summary
<br />of proposed FY19-20 recurring and non -recurring General Fund revenue and expenditures
<br />follows.
<br />Revenue
<br />Expenditures &Transfers Out
<br />Recurring One -Time
<br />316,678,040 $ -
<br />309,202,580 $ 6,665,100
<br />Santa Ana Charter Section 607 requires the City Council to adopt a budget to "provide for the
<br />support of public recreation programs at least the equivalent of six cents (6) on each one hundred
<br />dollars ($100) of the assessed value of taxable property in the City on the legal assessment date
<br />for the previous fiscal year." The net taxable value of property in the City for FY18-19 was
<br />$26,497,864,876. If we apply the calculation required by the Charter, the required budget for
<br />public recreation programs is $15,898,719. The proposed General Fund budget includes
<br />$21,346,910 for the Parks, Recreation & Community Services Agency; $5,414,880 for Library
<br />Services; and $3,076,650 for Youth Services funded by Cannabis revenue.
<br />75A-4
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