Item 16 - Proposed Fiscal Year 2022-23 City Budget

Home Browse Search

Proposed Fiscal Year 2022-23 City Budget, Changes to the City's Basic Classification and Compensation Plan, and the Seven -Year Capital Improvement Program June 7, 2022 Page 4 Ten -Year General Fund Outlook m $540 c O $503.2 $500 — $485.6 $471.3 $459.3 $465.5 $485.4 $460 $443.4 $463.9 $469.9 $429.2 $456.0 $454.8 $415.5 $404.1 $440.4 $420 $402.2 $426.3 $380 $399.6 $390.1 $340 $300 $412.7 FY22-23 FY23-24 FY24-25 FY25-26 FY26-27 FY27-28 FY28-29 FY29-30 FY30-31 FY31-32 tRevenue (Expenditures & Transfers Out The Ten -Year Outlook indicates the General Fund may have a balanced budget until Measure X revenue decreases in the final quarter of FY 2028-29. By FY 2029-30, we expect to have an annual budget deficit of approximately $16 million. The expected deficit is substantially less than prior versions of the Ten -Year Outlook due to the pension debt refinancing. Charter Requirement for Public Recreation Program Spending Santa Ana Charter Section 607 requires the City Council to adopt a budget to "provide for the support of public recreation programs at least the equivalent of six cents on each one hundred dollars of the assessed value of taxable property in the City on the legal assessment date for the previous fiscal year." The net taxable value of property in the City for FY 2021-22 was $30,407,593,054. If we apply the calculation required by the Charter, the required budget for public recreation programs is $18,244,556. The proposed General Fund budget includes $13,254,280 for the Parks, Recreation, and Community Services Agency, $16,644,690 for maintenance of Parks and Facilities, and appropriations of $5,238,490 for Youth Services funded by Cannabis tax revenue. Citywide Budget The proposed FY 2022-23 Citywide Budget includes the General Fund and all other funds of the City, including those with internal restrictions and those with external restrictions. A summary of the Citywide Budget follows.