TITLE
Recommendation to refer the Fiscal Year 2006 First Quarter Budget and Operational Performance Report to the Budget Oversight Committee. (Citywide)
DISCUSSION
This report provides an update on the City’s Fiscal Year 2006 (FY 06) budget and operational performance through December 31, 2005. The report covers a broad spectrum of financial information for all funds and departments with multi-year comparisons, charts and graphs to provide a clear picture of the City’s financial situation. While the focus of the financial report is the General Fund, exceptional performance (both positive and negative) in other funds is highlighted where applicable. This report also, for the first time, provides an update on the City’s operational performance by department, as developed through the Focus on Results (FOR) Long Beach program. Through the first quarter of FY 06, overall revenue and expenditures are on target.
Summary
FY 06 is the third year of the City’s Financial Strategic Plan (Plan). As such, over $92 million in structural budget solutions have been included in the General Fund and related funds budgets over the past three fiscal years. These solutions, which have included the reduction of programs, services and positions, as well as increased revenue and cost recovery, have placed a substantial strain on the organization as it downsizes and becomes more efficient. While resources required to provide public safety, infrastructure maintenance, library, recreation and other general government services have been reduced significantly, public demand for services continues to grow. As a result, departments’ ability to remain within appropriation limits while providing high quality service will be a continued challenge as the City implements the Plan and restores
equilibrium between the services it provides and the resources available to support them.
As of December 31, 2005, the total adjusted General Fund expenditure budget was $363.8 million, with expected re...
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