TITLE
Recommendation to receive and file the Fiscal Year 2009 Year-End Budget Performance Report. (Citywide)
DISCUSSION
This report reflects the City's Fiscal Year 2009 (FY 09) budget performance through September 30, 2009. Please be advised the information provided is unaudited as the audit for FY 09 has not yet commenced and will not be completed until approximately March 2010.
The report includes financial information for all funds and departments. While the financial report primarily discusses the General Fund, exceptional performance (both positive and negative) in other funds is highlighted where applicable.
Summary
The FY 09 Adopted Budget totaled $3.4 billion for the City's 22 departments, and was later amended to $3.6 billion during the fiscal year by the City Council. Of that amount, $404.0 million comprised the General Fund budget, which was subsequently decreased to $403.6 million during the fiscal year.
As of fiscal year-end, actual expenditures for all departments and all funds were $2.2 billion.
Revenues for all departments and all funds were $2.2 billion. Unspent grant and capital project funds will be carried forward into subsequent fiscal years to support multi-year projects or grant-funded activities.
For the General Fund, actual expenditures for all departments were $390.8 million, or $12.8 million less than the Adjusted Budget of $403.6 million, due to budget reduction strategies implemented by the City Manager during the first quarter of the fiscal year to ensure a balanced year-end budget. To assist departments in curtailing expenditures to end the year in balance, numerous cost-cutting measures were implemented early in the fiscal year. In FY 09, the City Manager issued department-specific savings targets, instituted a hard hiring freeze, reduced limits on Department contracting authority, deferred State-funded Capital projects and instituted a 40-hour work furlough to ensure a balanced budget. Actual General Fund revenues for all ...
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