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CC 11-15-2022 Item No. 23. FY 2022-23 First Quarter_Staff PresentationNovember 15, 2022 Fiscal Year 2022-23 First Quarter Financial Report CC 11-15-2022 Item No. 23 Budget Reporting Cycle How We Ended FY 2021-22 FY 2022-23 1st Quarter Amended Budget FY 2022-23 1st Quarter General Fund Update Recommended Adjustments Transparency and Engagement Recommendations and Next Steps Agenda 2 Budget Reporting Cycle 3 Proposed Budget (May) Final Budget (June) First Quarter (November) Mid-Year (March) Third Quarter (May) How We Ended FY 2021-22 $203.8M $160.2M$167.4M $142.9M -$36.4M -$17.3MRevenueExpenditure FY 2021-22 Year End Actual vs. Budget –All Funds Budget Year-End Actual Variance $109.8M $23.6M $2.6M $18.1M $6.7M $6.6M $96.9M $10.7M $2.7M $20.1M $6.8M $5.5M $12.9M $12.8M -$0.1M -$2.0M -$0.2M $1.1M General Fund Special Revenue Debt Service Capital Project Enterprise Internal Service FY 2021-22 Year-End Fund Balance Revenues Expenditures Fund Balance FY 2022-23 1st Quarter Amended Budget Fund FY 2022-23 Adopted Budget Carryovers Encumbrances Adjustments Approved in First Quarter FY 2022-23 Amended Budget as of Sept. 30, 2022 General 95,167,779 23,785,988 5,041,683 2,228,580 126,224,030 Special Revenue 11,244,109 18,140,319 3,965,049 174,220 33,523,697 Debt Service 2,675,800 ---2,675,800 Capital Projects 3,633,600 22,285,752 3,688,943 650,000 30,258,295 Enterprise 9,003,331 1,154,594 118,032 102,909 10,378,866 Internal Service 8,862,706 550,315 466,368 134,642 10,014,031 Total All Funds $130,587,325 $65,916,968 $13,280,075 $3,290,351 $213,074,719 FY 2022-23 Appropriation Changes by Fund Fund FY 2022-23 Adopted Budget Carryovers Adjustments Approved in First Quarter FY 2022-23 Amended Revenues as of Sept. 30, 2022 General 94,661,388 38,699,046 1,579 133,362,013 Special Revenue 16,315,081 --16,315,081 Debt Service 2,675,800 --2,675,800 Capital Projects 2,500,000 4,931,904 500,000 7,931,904 Enterprise 6,181,392 --6,182,392 Internal Service 7,909,496 --7,909,496 Total All Funds $130,244,157 $43,630,950 $501,579 $174,376,686 FY 2022-23 Revenue Changes by Fund FY 2022-23 1st Quarter General Fund Update 12% 15% 21% 9% 29% 31% 34% 25% FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 General Fund Revenues & Expenditures – % Received/Spent as of 1st Quarter Revenues Expenditures Revenue Category 1st Quarter 2022 1st Quarter 2023 Variance % Change 05 -Sales tax 9,459,612 4,082,699 (5,376,913)-57% 10 -Property tax 265,394 79,078 (186,317)-70% 15 -Transient occupancy 287,021 1,485,719 1,198,699 418% 20 -Utility tax 478,155 636,988 158,832 33% 25 -Franchise fees 170,876 180,066 9,191 5% 30 -Other taxes 386,972 328,349 (58,623)-15% 35 -Licenses and permits 1,137,359 931,463 (205,895)-18% 40 -Use of money and property 457,729 589,007 131,278 29% 45 -Intergovernmental revenue 2,786,645 1,070,673 (1,715,972)-62% 50 -Charges for services 3,035,190 2,746,279 (288,911)-10% 55 -Fines and forfeitures 36,578 41,997 5,419 15% 60 –Miscellaneous 236,900 292,886 55,986 24% 65 -Transfers in 4,862,387 61,140 (4,801,247)-99% 70 -Other financing sources ---0% Total General Fund Revenues $23,600,818 $12,526,346 $(11,074,472)-47% General Fund Revenues –1st Quarter FY22 vs. FY23 Expenditure Category 1st Quarter 2022 1st Quarter 2023 Variance % Change 05 -Employee compensation 4,526,689 5,886,488 1,359,799 30% 10 -Employee benefits 2,374,179 2,654,002 279,823 12% 15 -Materials 952,840 1,242,176 289,336 30% 20 -Contract services 5,826,209 6,525,117 698,908 12% 25 -Cost allocation 2,987,016 2,596,490 (390,525)-13% 30 -Capital outlays 750 -(750)N/A 31 -Special projects 287,063 353,953 66,890 23% 35 -Contingencies ---N/A 45 -Transfer out 16,099,371 11,996,300 (4,103,071)-25% 50 -Other financing uses 139,096 75,186 (63,910)-46% Total General Fund Expenditures $33,193,212 $31,329,712 $(1,863,500)-6% General Fund Expenditures –1st Quarter FY22 vs. FY23 $0.4M $0.4M $0.4M $0.4M $19.9M $18.8M $24.2M $18.8M$19.1M $34.1M $34.1M $34.1M $4.9M $5.0M $3.0M $5.0M $52.4M $51.4M $48.3M $63.2M $96.9M $109.8M $110.1M $121.6M Actual 2020-21 Year End Projection 2021-22 Adopted Budget 2022-23 1st Quarter Year End Projection 2022-23 General Fund Fund Balance Non Spendable Restricted Committed Assigned Unassigned Total Recommended Adjustments Fund Department Revenue Expenditure Change in Fund Balance Proposal GENERAL FUNDS 100 General Fund Administration -9,650 (9,650)Community Outreach Printing and Mailing 100 General Fund Administration -7,150 (7,150)Earth and Arbor Day Festival Services 100 General Fund Administration -20,000 (20,000)Greenhouse Gas Emissions Inventory Update 100 General Fund Administration -30,000 (30,000)Valley Water Cost Share Program 100 General Fund Innovation & Technology 12,000 -12,000 Revenue from Video Production Services 100 General Fund Innovation & Technology 20,152 -20,152 Revenue from HCD Grant 100 General Fund Community Development 769,231 500,000 269,231 Construction Plan Check 100 General Fund Public Works -11,965 (11,965)McClellan Ranch Path Repair 100 General Fund Public Works -136,734 (136,734)Tree Maintenance 100 General Fund Public Works -118,500 (118,500)Utilities Adjustments 100 General Fund Public Works -8,201 (8,201)Backwater Check Valve Replacement 100 General Fund Public Works -13,804 (13,804)Pool Equipment Preventive Maintenance 100 General Fund Non-Departmental -118,766 (118,766)Transfer to I&T Fund for Faro Scanners TOTAL GENERAL FUNDS 801,383 974,770 (173,387) Adjustments by Fund and Department Fund Department Revenue Expenditure Change in Fund Balance Proposal SPECIAL REVENUE FUNDS 230 Environmental Mgmt Public Works -6,238 (6,238)Utilities Adjustments TOTAL SPECIAL REVENUE FUNDS -6,238 (6,238) ENTERPISE FUNDS 520 Resource Recovery Public Works -31,377 (31,377)Household Hazardous Waste (HHW) 520 Resource Recovery Public Works -6,140 (6,140)SB 1383 Grant Fund Allocation TOTAL ENTERPRISE FUNDS -37,517 (37,517) INTERNAL SERVICE FUNDS 610 Innovation & Technology Innovation & Technology 118,766 -118,766 Transfer from General Fund for Faro Scanners 610 Innovation & Technology Innovation & Technology -118,766 (118,766)Faro Scanners for the Sheriff's Office 630 Vehicle/Equip Replacement Public Works -669,046 (669,046)Vehicle and Equipment Replacement TOTAL INTERNAL SERVICE FUNDS 118,766 787,812 (669,046) TOTAL ALL FUNDS $920,149 $1,806,337 $(886,188) Adjustments by Fund and Department Adjustment Revenue Expenditures Change in Fund Balance Community Outreach Printing and Mailing -9,650 (9,650) Earth and Arbor Day Festival Services -7,150 (7,150) Greenhouse Gas Emissions Inventory Update -20,000 (20,000) Valley Water Cost Share Program -30,000 (30,000) Total $-$66,800 $(66,800) Administration Adjustment Revenue Expenditures Change in Fund Balance Revenue from Video Production Services 12,000 -12,000 Revenue from HCD Grant 20,152 -20,152 Faro Scanners for Sheriff’s Office 118,766 118,766 (118,766) Total $150,918 $118,766 $32,152 Innovation & Technology Adjustment Revenue Expenditures Change in Fund Balance Construction Plan Check 769,231 500,000 269,231 Total $769,231 $500,000 $269,231 Community Development Adjustment Revenue Expenditures Change in Fund Balance McClellan Ranch Path Repair -11,965 (11,965) Tree Maintenance -136,734 (136,734) Utilities Adjustments -124,738 (124,738) Backwater Check Valve Replacement -8,201 (8,201) Pool Equipment Preventive Maintenance -13,804 (13,804) Household Hazardous Waste (HHW)-31,377 (31,377) SB 1383 Grant Fund Allocation -6,140 (6,140) Vehicle and Equipment Replacement -669,046 (669,046) Total $-$1,002,005 $(1,002,005) Public Works Adjustment Revenue Expenditures Change in Fund Balance Transfer from General Fund to I&T Fund for Faro Scanners -118,766 (118,766) Total $-$118,766 $(118,766) Non-Departmental •No recommended changes to staffing. Staffing •$2,632.50 has been used for environmental consulting services related to a Phase I environmental site assessment at 21801 Stevens Creek Boulevard •Staff will continue to report on the use of this fund City Manager Discretionary Fund •Special Projects •Grants •Capital Improvement Program (CIP) •Update CDTFA Audit Additional Information and Enhancements Transparency and Engagement cupertino.org/budget FY 2022-23 •Mid-Year Report to Council March 2023 •Third Quarter Report to Council May 2023 Next Steps 1.Accept the City Manager’s First Quarter Financial Report for FY 2022-23 2.Adopt Resolution #22-XXX approving Budget Modification #2223-244 increasing appropriations by $1,806,337 and revenues by $920,149 Recommendations Questions?