TITLE
Recommendation to receive and file the Fiscal Year 2015 Year-End Budget Performance Report, and increase appropriations in several funds across several departments for various purposes to reflect final expenditures and carryover clean-up. (Citywide)
DISCUSSION
This report reflects the City’s Fiscal Year 2015 (FY 15) budget performance. The information provided is subject to change, as the books for FY 15 are not fully closed. However, it is anticipated that these numbers are close to final. While the financial report primarily discusses the General Fund, significant information for other funds is highlighted where applicable.
YEAR-END BUDGET PERFORMANCE REPORT
Summary
The City’s total FY 15 Adjusted Budget of $3.8 billion, including carryover, supports 22 departments, including the separately managed Water and Harbor Departments. The City has seven fund types divided into 37 funds that comprise the $3.8 billion FY 15 Adjusted Budget (Attachment A). Most of these funds are restricted funds, such as the Harbor Fund, Gas Fund, and Tidelands Funds, that are designated for specific and limited activities. The majority of core community services provided in the City, such as police and fire services, libraries and parks, are largely supported by the General Fund, which comprises only 12 percent of the City’s Adjusted Budget.
The City ended FY 15 mostly consistent with program and budget expectations. Year-end spending came in under budgeted appropriation for the General Fund and for all other funds after factoring in technical adjustments requested, which are further described later in this report. Please see Attachment A for a breakdown of citywide expenditures by fund. The remainder of this report summarizes the General Fund and notable performance for selected other funds.
General Fund and Uplands Oil Fund Overview
The General Fund and Uplands Oil Fund ended the fiscal year with an ending funds available of approximately $4.2 million and $0.9 mi...
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