Laserfiche WebLink
Proposed Fiscal Year 2022-23 City Budget, Changes to the City's Basic Classification <br />and Compensation Plan, and the Seven -Year Capital Improvement Program <br />June 7, 2022 <br />Page 3 <br />does the Reserve requirement. Staff will monitor the actual General Fund balance and <br />recommend adjustments if necessary to ensure compliance with the Reserve requirement <br />at June 30, 2023. <br />A summary of the proposed FY 2022-23 General Fund budget identifying recurring <br />activity and one-time activity follows. <br />Revenue <br />3901112,940 <br />39011121940 <br />Expenditures <br />(327,979,420) <br />(16,984,270) (344,963,690) <br />Net Transfers <br />(48,530,030) <br />(2,873,040) (51,403,070) <br />Pension Stabilization <br />(7,748,811) <br />(7,748,811) <br />Net Activity <br />5,854,679 <br />(19,857,310) (14,002,631) <br />General Fund Ten -Year Outlook <br />Assumptions for the Outlook follow. <br />• Updated year 1 with the proposed FY 2022-23 Budget, which includes $20 million <br />of one-time spending. <br />• For years 2-10, recurring revenue and spending increases by inflation each year <br />(the Consumer Price Index as forecasted by the California Department of Finance). <br />• Debt retirements are factored in, as well as fluctuating debt service for the pension <br />bonds and corresponding deposits and withdrawals to the Pension Stabilization <br />Trust. <br />• The reduction of Measure X revenue is factored in FY 2028-29 and FY 2029-30, <br />updated with the latest estimates. <br />City Council 16 — 3 6/15/2022 <br />