Alameda City Council
June 21, 2022

FY 2022-23
Mid-Cycle Budget Update
1 City Council
June 21, 2022
May 11, 2021
Mid-Cycle Budget Overview
● FY 2021-23 Biennial Budget adopted in June 2021
● Mid-Cycle Budget captures updates for year 2 of Biennial Budget ● Updates presented to City Council at May Budget Workshop ○ Council provided direction to incorporate funding for the Emma Hood Swim Center
● If updates not adopted, previously adopted budget goes into effect 2 General Fund Expenditures
● General Fund expenditure budget proposed at $124.4 million ● Increased from previously adopted amount of $118.7 million 3 General Fund Revenues
● General Fund revenues projected at $122.8 million
● Increased from previous projection of $114.5 million
4 General Fund 5-Year Forecast (in millions)
5 FY21-22 FY22-23 FY23-24 FY24-25 FY25-26
Projected Mid-Cycle Forecast Forecast Forecast
Beginning Fund Balance $71.9 $65.1 $56.1 $54.2 $52.2
Revenues $117.6 $122.8 $126.8 $131.1 $135.5
Expenditures ($124.8) ($124.4) ($128.7) ($133.1) ($137.7) Net Annual Activity ($6.8) ($1.5) ($1.8) ($2.0) ($2.2)
Emma Hood Swim Center
Earmark ($7.5)
Ending Fund Balance $65.1 $56.1 $54.2 $52.2 $50.0
Ending Fund Balance % of
Annual Expenditures
52% 45% 42% 39% 36%
Citywide Budget Overview
● Citywide proposed budget of $258.2 million (exc transfers) ● Increased from $249.0 million previously adopted
6 Budget Overview
Online budget book available now:
https://stories.opengov.com/alamedaca/published/9YES4_byI 7