TITLE
Recommendation to receive and file the Fiscal Year 2018 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 2018 (FY 18) budget performance. The information provided is subject to change, as the books for FY 18 are not fully closed. However, it is anticipated that these numbers are unlikely to significantly change. 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 18 Adjusted Budget of $3.4 billion, including carryover, supports 23 departments, including the separately managed Water and Harbor Departments. The City has seven fund types divided into 38 funds that comprise the $3.4 billion FY 18 Adjusted Budget. 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, which comprises only 15 percent of the City’s Adjusted Budget.
The City ended FY 18 within 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 in this recommendation, 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 other selected funds. All numbers are unaudited and subject to change.
General Fund and Uplands Oil Fund Overview
The General Fund and Uplands Oil Fund ended the fiscal year with a funds available of approxi...
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