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File #: LB 20-010   
Section: Legislative Business Status: Agenda Ready
Meeting Body: City Council
Agenda Date: 3/17/2020 Final action:
Subject: FY 2020 Mid-Year Budget: FY 2020 Mid-Year Budget Review and General Fund Long Range Financial Model Update
Attachments: 1. Attachment I Staff Report, 2. Attachment II Resolution for Operating Budget, 3. Attachment IIA Operating Budget Resolution Exhibits A & B, 4. Attachment III Resolution for Capital Improvement Program, 5. Attachment IIIA CIP Budget Resolution Exhibits A & B, 6. Attachment IV Adjustments Summary, 7. Attachment V General Fund Long Range Update, 8. Attachment VI Measure C 20-Year Financial Forecast Update
DATE: March 17, 2020

TO: Mayor and City Council

FROM: Director of Finance

SUBJECT

Title
FY 2020 Mid-Year Budget: FY 2020 Mid-Year Budget Review and General Fund Long Range Financial Model Update

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RECOMMENDATION
Recommendation

That Council 1) reviews the FY 2020 Mid-Year Budget; 2) adopts resolutions providing amendments to the previously adopted City of Hayward Operating and Capital Improvement Budgets for Fiscal Year 2020; and 3) prioritizes remaining Council supported revenue strategies.

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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. On January 15, 2020, an update to the General Fund Long Range Financial Model was presented to the Council Budget and Finance Committee for review and feedback.

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. Table 1 and Table 2 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:

TABLE 1: PREVIOUS COUNCIL AUTHORIZED AND APPROVED APPROPRIATIONS

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 Devel...

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