DATE: February 19, 2020
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Title
FY 2020 Mid-Year Budget Review & General Fund Long Range Financial Model Update
End
RECOMMENDATION
Recommendation
That the Council Budget and Finance Committee reviews and provides comments on the FY 2020 Mid-Year Budget review and General Fund Long Range Financial Model Update.
End
SUMMARY
This report presents the mid-year review of the FY 2020 Adopted Budget, and an update to the General Fund Long Range Financial Model (model) presenting proposed changes and projected year-end results based on current trends and data. While staff considers the entire City budget in its mid-year review, this report focuses primarily on the General Fund.
Proposed FY 2020 mid-year expenditures net a total increase of $5.7 million in General Fund expenses. Of this amount, $5.1 million is related to previously authorized and approved appropriations, and proposed FY 2020 mid-year expenditure requests total increase of $0.6 million. The proposed FY 2020 mid-year expenditures are largely one-time in nature. The tables below detail the key changes in General Fund expenditures related to previous Council authorized and approved appropriations, and proposed new FY 2020 mid-year requests:
Previous Council Approved Appropriations
FY 2020 Impact ($)
Illegal Tobacco Sales Enforcement Program - Overtime
$9,703
Salary Plan Update
$243,039
Personnel Expenses
$252,742
City Center Demolition
$4,401,150
City parking enforcement vehicle/equipment
$95,000
Security Services - Maple/Main Development Site
$142,000
Byrne Grant Appropriation
$42,492
Delinquency Prevention Network (DPN) Contract
$8,950
Contract Services - Strategic Planning Services
$108,881
Community Development Block Grant
$4,000
Non-Personnel Expenses
$4,802,473
Previous Council Approved Appropriations Subtotal
$5,055,215
Proposed Mid-Year Request (NEW)
FY...
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