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Finance and Management Services <br />https://www.santa-ana.org/finance <br />Item # 19 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />February 16, 2021 <br />TOPIC: Fiscal Year 2020-21 Mid-Year Budget Update and Appropriation Adjustments <br />AGENDA TITLE: <br />Receive and File Fiscal Year 2020-2021 Mid-Year Budget Update and Approve Mid- <br />Year Appropriation Adjustments (General Fund and Non-General Fund) <br />RECOMMENDED ACTION <br />1. Receive and file Fiscal Year 2020-2021 (FY20-21) Mid-Year Budget Update, including <br />revised revenue estimates. <br />2. Approve the recommended Mid-Year Appropriation Adjustments. (Exhibit 2) <br />EXECUTIVE SUMMARY <br />The Mid-Year budget update includes new information for General Fund activity, a <br />vacancy report, and highlights of other funds with notable expected variances from the <br />budget as of December 31, 2020. The report focuses on the General Fund, as it is the <br />primary operating fund of the City. When the FY20-21 budget was prepared, there was <br />very little information available to understand the effect of the pandemic on the City’s <br />revenue stream and the City entered uncharted territory. With more data to analyze, staff <br />recommends adjustments with a net favorable General Fund impact of $13.1 million.