TITLE
Recommendation to receive and file the Fiscal Year 2020 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 2020 (FY 20) budget performance. The information provided is subject to change, as the books for FY 20 are not fully closed and all numbers are unaudited, although a significant change is considered unlikely. There are a few funds where the budgetary funds available are still being developed and thus the information provided is based on the current information available. While the financial report primarily discusses the General Fund, significant information for other funds is highlighted where applicable.
The City has 139 financial funds summarized and reported as 37 budgetary fund groups (36 fund groups with expenditures) covering 23 departments, including the separately managed Water and Harbor Departments. In this report, any reference and discussion of “funds” will be referring to the budgetary fund groups. The Adjusted FY 20 Budget for these funds and departments is $4.7 billion. Most of these funds are restricted funds, such as the Harbor Fund, Gas Fund, and Tidelands Funds, designated for specific and limited activities. The majority of core community services provided by the City, such as police and fire services, libraries, and parks, are largely supported by the General Fund that comprises only 13 percent of the City’s Adjusted Budget.
YEAR-END BUDGET PERFORMANCE REPORT
Overall Summary
FY 20 was an unprecedented year, with the City facing a series of issues - a worldwide pandemic, the injustices and increased exposure of systemic racism, and economic disruption. The COVID-19 crisis significantly altered the City’s plans, priorities, and focus in FY 20 and has had a significant impact on the City’s finances.
The General Fund is ending FY 2...
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