DATE: March 1, 2023
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
FY 2023 Mid-Year Budget Review and Five-Year General Fund Financial Model Update
RECOMMENDATION
That the Council Budget and Finance Committee reviews and provides comments on the FY
2023 Mid-Year Budget Review and Five-Year General Fund Financial Model Update.
SUMMARY
This report presents the mid-year review of the FY 2023 Adopted Budget, and an update to the Five-Year General Fund 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 2023 mid-year expenditures net a total increase of $7.04 million in General Fund expenses. Of this amount, $4.55 million is related to previously authorized and approved appropriations, and proposed FY 2023 mid-year expenditure adjustments totaling a net increase of $2.49 million. The proposed FY 2023 mid-year expenditures are all one-time in nature. Table 1 and Table 2 below detail the key changes in General Fund expenditures related to previous Council-authorized and approved appropriations, and proposed new FY 2023 mid-year requests:
TABLE 1: PREVIOUS COUNCIL AUTHORIZED AND APPROVED GENERAL FUND APPROPRIATIONS
Previously Council-Approved Appropriation
FY 2023 Impact ($)
Employee Contract Terms - Unrepresented Staff, HPOA, Local 1909
$3,957,875
STEP Grant Appropriations
$210,000
Behavioral Health Justice Intervention Services Project Grant Appropriations
$74,501
Appropriate funds for the Golden Oaks II Tract 8058 Access and Utilities Project
$290,672
CAL OES Grant
$2,970
Hayward Literacy Council Reimbursement
$15,750
Previous Council Approved Appropriations Subtotal
$4,551,768
TABLE 2: PROPOSED NEW FY 2023 GENERAL FUND MID-YEAR REQUESTS
Mid-Year Request (NEW)
FY 2023 Impact ($)
No Mid-Year Personnel Requests
$0
Personn...
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