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Finance and Management Services
<br />https://www.santa-ana.org/finance
<br />Item # 24
<br />City of Santa Ana
<br />20 Civic Center Plaza, Santa Ana, CA 92701
<br /> Staff Report
<br />May 18, 2021
<br />TOPIC: Fiscal Year 2021-22 Budget Workshop Session
<br />AGENDA TITLE:
<br />Fiscal Year 2021-22 Budget Workshop Session
<br />RECOMMENDED ACTION
<br />Provide any additional direction to staff for the:
<br />1. Draft Revive Santa Ana spending plan; and
<br />2. Draft Fiscal Year 2021-2022 City budget.
<br />EXECUTIVE SUMMARY
<br />This agenda item includes the draft FY21-22 City budget for all funds of the City. The
<br />PowerPoint presented on May 18 will include highlights and summary information. The
<br />City Council may direct staff to make changes to the draft budget. The June 1 version
<br />will include any changes from City Council, and will be the proposed budget for
<br />consideration during the public hearing.
<br />The General Fund is the primary operating fund of the City and accounts for all
<br />unrestricted revenue. Overall, staff expects unrestricted revenue to grow by 5.4%, and
<br />draft spending to increase by 5.6%.
<br />FY19-20 FY20-21 FY21-22
<br />Actual Adjusted Budget Draft Budget
<br />Beginning Balance 67,022,638$ 81,868,704$ 70,945,564$
<br />Revenue 319,102,500 323,593,143 340,944,200
<br />Expenditures (288,878,118)(313,226,023)(328,481,060)
<br />Net Transfers (15,378,316)(21,290,260)(24,703,590)
<br />Net Activity 14,846,066$ (10,923,140)$ (12,240,450)$
<br />Ending Balance 81,868,704$ 70,945,564$ 58,705,114$
<br />The Reserve Requirement for June 30, 2021 is $58,155,866. Due to the expected growth
<br />in recurring revenue from FY20-21 to FY21-22, the Reserve Requirement for June 30,
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