DEPARTMENT: Office of Management and Budget
DEPARTMENT HEAD: Scott Huizenga
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
FY 2021 "3 Plus 9" Budget and Financial Status Report, & Recommended FY 2022 Budget Calendar
SUMMARY:
City Council will be provided with an informational briefing on the City's FY 2021 Budget status through the first quarter of the fiscal year (October through December) with projections on revenues and expenditures for the remaining nine months of the fiscal year (January through September), an update on the implementation status of FY 2021 Budget Initiatives, first quarter 24/7 Performance Measures results, and the recommended FY 2022 Budget Calendar.
BACKGROUND INFORMATION:
The Mayor and City Council adopted a $2.9 billion budget on September 17, 2020, for the City's fiscal year that began October 1, 2020. The FY 2021 budget is balanced despite ongoing economic uncertainty and challenges caused by the COVID-19 global pandemic. Each year, the City adopts a two-year balanced budget that includes expenditures appropriations for the first year and an appropriation plan for the second year; the FY 2022 Budget Plan is balanced with planned reductions included in the FY 2021 Adopted Budget of $49 million in the General Fund.
As part of the City's financial management practices, City staff meets with the City Manager on a monthly basis to review the financial status of the City. The City Council is provided with quarterly updates. During the February 17th B Session, the Council will be provided the FY 2021 3 Plus 9 Budget and Financial Status Report, which will focus on the financial performance through the first quarter (October through December) of the fiscal year and will provide estimates on revenues and expenditures for the remaining three quarters of the fiscal year (January through September).
This presentation also will include a briefing on the FY 2022 Budget Calendar. The recommended FY 2022 Budget Calendar has been ...
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