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Finance and Management Services
<br />www.santa-ana.org/finance
<br />Item # 26
<br />City of Santa Ana
<br />20 Civic Center Plaza, Santa Ana, CA 92701
<br /> Staff Report
<br />April 4, 2023
<br />TOPIC: Fiscal Year 2022-23 Mid-Year Appropriation Requests
<br />AGENDA TITLE
<br />Fiscal Year 2022-23 Mid-Year Appropriation Requests
<br />RECOMMENDED ACTION
<br />1. Approve the recommended Appropriation Adjustments. (Requires five affirmative
<br />votes)
<br />EXECUTIVE SUMMARY
<br />On February 21, 2023, the City Council received the Mid-Year Budget Update
<br />presentation. On March 21, 2023, the City Council received and filed the report,
<br />adopted resolutions to effect workforce changes, and continued consideration of the
<br />recommended appropriation adjustments to the April 4 agenda.
<br />A summary of the General Fund budget follows:
<br />DISCUSSION
<br />The Mid-Year report is an opportunity for staff to present updated revenue estimates
<br />and recommendations for appropriation adjustments, based on information received
<br />after the City Council adopted the budget in June 2022. The City’s budget ledger
<br />already includes the increased revenue estimates presented on February 21, as no City
<br />Council action was required.
<br /> FY22-23 Budget
<br />Updated with First
<br />Quarter Report on
<br />November 15, 2022
<br /> Proposed Mid-Year
<br />Adjustments Updated Estimate
<br />Begi nning Balance at July 1, 2022 $113,509,544 $0 $113,509,544
<br />Revenue Esti mate $391,552,940 $7,200,000 $398,752,940
<br />Appropri ated Spending ($406,880,124)(4,079,260)($410,959,384)
<br />Pension Trust Set-Aside ($7,748,811)$0 ($7,748,811)
<br />Estimated Ending Balance at
<br />June 30,2023
<br />$90,433,549 $3,120,740 $93,554,289
<br />Less 18% Reserve 70,479,529 1,296,000 $71,775,529
<br />Estimated Spendable Balance 19,954,020 1,824,740 $21,778,760
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