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Finance and Management Services <br />www.santa-ana.org/finance <br />Item # 13 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br />Staff Report <br />June 4, 2024 <br />TOPIC: FY 2023-24 Third Quarter Budget Report and Proposed Appropriation <br />Adjustments <br />AGENDA TITLE <br />Fiscal Year 2023-24 Third Quarter Budget Report and Proposed Appropriation <br />Adjustments <br />RECOMMENDED ACTION <br />1. Receive and file the Fiscal Year 2023-24 3rd Quarter budget update. <br />2. Approved the recommended appropriation adjustments. (Requires five <br />affirmative votes) <br />GOVERNMENT CODE §84308 APPLIES: No <br />EXECUTIVE SUMMARY <br />The FY 2023-24 Third Quarter Budget Update provides a General Fund snapshot of the <br />first nine months of the fiscal year. This report includes updates to revenue estimates, <br />recommended appropriation adjustments, summary information, and a full-time staff <br />vacancy report as of March 31, 2024. Other than the Internal Service Fund and <br />Restricted Fund items noted below, there is nothing significant to report for other funds <br />of the City. <br />General Fund Summary with Proposed Adjustments: <br />As noted in the Early Direction Report published for the March 19 agenda and <br />discussed by City Council on April 2, staff has requested a General Fund subsidy to <br />close the Central Stores Fund. Based on City Council direction on May 16, staff has <br />requested a General Fund appropriation for the Dog Park. All other recommended <br />adjustments have a net zero impact on the General Fund. The updated estimate of the <br />Spendable General Fund Balance is $13.8 million as shown below. <br />