TITLE
Recommendation to receive and file the Fiscal Year 2011 Year-End Budget Performance Report; and
Increase appropriation in the Housing Authority Fund (SR 151) by
$1.2 million and increase/decrease appropriations in the General Fund in multiple departments for various purposes to reflect final expenditures. (Citywide)
DISCUSSION
This report reflects the City’s Fiscal Year 2011 (FY 11) budget performance. The information provided is preliminary. The books for FY 11 are not fully closed and the audit for FY 11 will not be completed until approximately the end of March 2012.
The report includes financial information for all funds and departments. While the financial report primarily discusses the General Fund, unusual results (both positive and negative) in other funds are highlighted where applicable.
Summary
The FY 11 Adopted Budget totaled $3.0 billion for the City’s 21 departments, and was later amended to $3.8 billion during the fiscal year by the City Council. Of that amount, $380.4 million comprised the General Fund budget, which was subsequently increased by the City Council to $398.8 million during the fiscal year (appropriation of $1.2 million is included in the proposed recommendation).
As of fiscal year-end, actual expenditures for all departments and all funds were $2.9 billion. Revenues for all departments and all funds were $2.8 billion. Unspent grant and capital project funds will be carried forward into subsequent fiscal years to support multi-year projects or grant-funded activities. All other unspent appropriation authorizations lapse (end), per City budgetary policy.
For the General Fund, actual expenditures for all departments were $396.8 million, about $2 million under the Adjusted Budget of $398.8 million. Actual General Fund revenues for all departments totaled $387.3 million. In addition, supporting the expenditures was an $11 million release of reserves approved by City Council for such things as police helicopters and amb...
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