65A - RECIEVE AND FILE FY 2019-20 GENERAL FUND MIDYEAR

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REQUEST FOR a COUNCIL ACTION°1T CITY COUNCIL MEETING DATE: FEBRUARY 18, 2020 TITLE: RECEIVE AND FILE FISCAL YEAR 2019-20 GENERAL FUND MID -YEAR UPDATE; AMEND FY 2019-20 BUDGET TO ADD TWO FULL-TIME POSITIONS; APPROVE MID -YEAR APPROPRIATION ADJUSTMENTS /s/Kristine CITY MANAGER CLERK OF COUNCIL USE ONLY: _••e• W ❑ As Recommended ❑ As Amended ❑ Ordinance on 111 Reading ❑ Ordinance on 2nd Reading ❑ Implementing Resolution ❑ Set Public Hearing For CONTINUED TO �1��►1�1�1:3q:7 RECOMMENDED ACTION 1. Receive and file Fiscal Year 2019-20 General Fund Mid -Year Update, including revised revenue estimates. 2. Amend Fiscal Year 2019-20 Budget to add the full-time position of Executive Secretary in Parks, Recreation and Community Services Agency (General Fund) and the full-time position of Business Tax Collector -Inspector in the Finance and Management Services Agency (Cannabis Public Benefit Fund). 3. Approve Mid -Year Appropriation Adjustments. (Exhibit 3) DISCUSSION This Mid -Year Report includes an analysis of revenue and expenditures recorded for the first half of FY 2019-20. The report is focused on the General Fund, which is the primary operating fund of the City. However, the report also includes notable information for other funds, such as the Gas Tax Fund. The vacancy report for full-time funded employee positions and proposed workforce changes is included. Tables and summaries include FY 2018-19 actuals, FY 2019-20 year-to-date actuals, FY 2019-20 original budget, and FY 2019-20 revised budget. The revised budget includes updated revenue estimates, appropriation adjustments approved by the City Council, and appropriations continued from FY 2018-19 to FY 2019-20 approved by the City Council. A summary of the estimated General Fund balance at June 30, 2020 follows: 65A-1