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Receive and file Fiscal Year 2019-20 General Fund Mid -Year Update
<br />February 18, 2020
<br />Page 2
<br />General Fund Summary in millions
<br />FY 18-19
<br />FY 19-20
<br />FY 19-20
<br />Year End
<br />Actuals
<br />Budget
<br />Revised Budget
<br />Beginning Fund Balance
<br />$ 57.9
<br />$ 67.0
<br />$ 67.0
<br />Revenues
<br />270.4
<br />316.7
<br />323.2
<br />Expenditures
<br />(261.3)
<br />(316.1)
<br />(323.0)
<br />Ending Fund Balance
<br />$ 67.0
<br />$ 67.6
<br />$ 67.2
<br />Projected Fund Balance - 06/30/20
<br />$ 67.2
<br />Operating Reserve based on Revised Revenues 16.67%
<br />53.9
<br />Economic Uncertainty 1 %
<br />3.2
<br />Projected Net Available
<br />$ 10.1
<br />General Fund Revenues for FY 2019-20
<br />The following table summarizes the City's most significant General Fund revenue sources. A
<br />discussion of each follows.
<br />FY 19-20 MID -YEAR BUDGET REVIEW
<br />KEY GENERAL FUND REVENUES
<br />Description
<br />FY 18-19
<br />Actuals
<br />Adopted FY 19-20
<br />op et
<br />Bud
<br />FY 19-20
<br />2nd Quarter
<br />FY 19-20
<br />Projections
<br />Sales Tax
<br />51,321,860
<br />51,509,900
<br />16,866,019
<br />52,150,000
<br />Sales Tax - Measure X 1.5%
<br />13,636,350
<br />60,000,000
<br />21,917,861
<br />61,100,000
<br />Property Tax
<br />37,309,791
<br />37,346,100
<br />20,242,998
<br />38,100,000
<br />Prop Tax -In Lieu VLF
<br />32,897,695
<br />34,167,600
<br />-
<br />34,663,784
<br />Utility User Tax
<br />22,655,737
<br />22,500,000
<br />9,894,586
<br />22,500,000
<br />Business Tax
<br />13,115,518
<br />13,000,000
<br />2,644,633
<br />13,000,000
<br />Hotel Visitor's Tax
<br />9,414,661
<br />9,500,000
<br />4,116,511
<br />9,500,000
<br />Jail Revenues
<br />15,523,216
<br />15,126,700
<br />3,821,068
<br />15,126,700
<br />Paramedic Services Charge
<br />5,109,445
<br />5,175,000
<br />4,067,377
<br />6,792,300
<br />Santa Ana Residual
<br />10,231,641
<br />8,368,700
<br />-
<br />10,231,650
<br />Combined Cannabis Revenue
<br />8,379,195
<br />10,830,000
<br />4,228,906
<br />10,830,000
<br />Permits and Plan Checks'
<br />7,851,323
<br />7,881,000
<br />4,452,515
<br />7,881,000
<br />SUBTOTAL TOP SIX AND
<br />KEY REVENUES:
<br />2P7 446,433
<br />275,405,000
<br />92,252,474
<br />281,875,434
<br />OTHER REVENUES:
<br />42,943,596
<br />41,273,040
<br />16,941,791
<br />41,273,040
<br />GRAND TOTAL:
<br />$270,390,029
<br />$316,678,040
<br />$109,194,265
<br />$323,148,474
<br />'Permits: Building, Electrical, Heating, Plumbing Permits; Plan Checks: Building, Electrical,
<br />Plumbing and Mechanical Plancheck
<br />65A-2
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