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Finance and Management Services
<br />www.santa-ana.org/finance
<br />Item # 30
<br />City of Santa Ana
<br />20 Civic Center Plaza, Santa Ana, CA 92701
<br />Staff Report
<br />May 3, 2022
<br />TOPIC: Fiscal Year 2021-22: Third Quarter Budget Update
<br />AGENDA TITLE:
<br />Fiscal Year 2021-22: Third Quarter Budget Update
<br />RECOMMENDED ACTION
<br />Receive and file the Fiscal Year 2021-22: Third Quarter Budget Update, including
<br />increasing sales tax and plan checks revenue estimates.
<br />EXECUTIVE SUMMARY
<br />The Third Quarter Budget Update (Exhibit 1) provides a General Fund snapshot of the
<br />first nine months of the fiscal year and is the last update to City Council in regards to
<br />the 2021-22 Fiscal Year budget. This report includes recommendation for an additional
<br />increase to the sales tax (Bradley -Burns and Measure X) and plan checks revenue
<br />estimates (Exhibit 1), a summary of General Fund revenues and expenditures, an
<br />update on the FY 21-2022 Capital Improvement Program (CIP) budget, and a staff
<br />vacancy report as of March 31, 2022.
<br />A summary of the General Fund is detailed below:
<br />Beginning Balance
<br />Revenue
<br />Expenditures
<br />Net Transfers
<br />Net Activity
<br />Ending Balance
<br />$ 71,187,440 $ 109,415,983 $ 109,415,983
<br />340,944,200
<br />364,127,209
<br />374,982,909
<br />(328,791,570)
<br />(350,438,147)
<br />(350,438,147)
<br />(24,703,590)
<br />(36,568,949)
<br />(36,568,949)
<br />(12.550.9601
<br />(22.879.887)
<br />(12.024.187)
<br />$ 58,636,480 $ 86,536,096 $ 97,391,796
<br />Policy Reserve Requirement 61,369,956 65,542,898 67,496,924
<br />Excess / (Deficiency) $ (2,733,476) $ 20,993,198 $ 29,894,872
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