City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
Overview
City management is pleased to present this quarterly
update summarizing the City’s overall budget activity
through Quarter 2 (December 31, 2021) for Fiscal
Year (FY) 2022. The City’s fiscal year is July 1
through June 30. For audited information, or to find
greater detail, please refer to the City’s annual financial statement, which is released by December 31st following the end of the fiscal year.
Budget Adjustments and Revenue Estimates. The
revenue projections and budget expenditures presented in this update include budget adjustments approved by the City Council, continuing appropriations, and prior year encumbrances. The second quarter also includes updated information for MidYear revenue projections.
Items to note. There are two important items to note
about this update. (1) In October 2021, the City issued Pension Obligation Bonds. With the bond issuance in process at the beginning of the fiscal year, the City did not make the annual CalPERS unfunded
liability prepayment in July 2021. That change has a
significant impact when comparing FY 2022 to FY
2021. (2) In August 2021, the City implemented a
reorganization of multiple departments. The funding
details are not captured in this update. Some of the
accounting details are still being finalized and will be included by the Quarter 3 update.
General Fund
General Fund Financial Condition. The City’s General Fund is the primary source of discretionary resources that funds many of the services provided to the citizens of the City of Corona.
The General Fund inflows (revenue and transfers in)
for FY 2022 are currently estimated at $177.6 million. Based on Mid-Year projections, the updated estimate is $184.5 million, an increase of $6.9 million. The revenue changes will be discussed later in this section.
February 2, 2022 Quarter 2, Fiscal Year 2022
The City has received or recorded 46.6% of the estimated General Fund inflows, through the end of Quarter 2 (at the time this information was prepared). Overall, inflows are up by +22.6% when compared to the same quarter of FY 2021, largely
due to Measure X revenues.
As of Quarter 2 of FY 2022, the General Fund has
spent 41.0% of its cumulative expenditure budget
(including transfers out). The current savings is primarily due to capital improvement projects which will take multiple years to complete.
Comparing Quarter 2 of FY 2022 to FY 2021, expenditures are –12.8% lower, or -$10.8 million. This is largely due to annual unfunded liability pension
payment related to the issuance of the pension
obligation bonds. Additionally, in FY 2021, the City
made a one time payment to CalPERS for $4.0
million towards the unfunded pension liability.
General Fund Revenues
Top 5 Revenues Compared, Quarter 2
FY 2020 - FY 2021 - FY 2022
General Fund Inflows
Top Five Revenues. The City’s top five General
Fund revenue categories account for approximately
93% of the total estimated General Fund inflows for
FY 2022. Focusing on these sources can provide a
useful understanding of the City’s income position.
Details of the categories will be described in the following paragraphs.
The bar graph, on page 1, illustrates the performance of the top five revenues as compared to the same quarter of the prior two fiscal years.
Property Tax. At the end of Quarter 2, property
tax is the largest General Fund revenue category.
The total for property taxes is $35.9 million, an increase of +$1.5 million, or +4.5%, over the prior fiscal year. The increase is primarily in secured property taxes. The majority of property tax revenues are recorded as revenue and booked as a receivable, once the annual report is received from the County of Riverside (generally November/
December). Year-end adjustments ‘true-up’ the
amounts to the actual cash received.
Sales Tax. At the end of Quarter 2, Sales Tax is the
second largest General Fund revenue category. This
category includes the City’s portion of sales tax,
February 2, 2022 Quarter 2, Fiscal Year 2022
City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
Measure X, Prop. 172 sales tax, and allowance for
sales tax agreements. As of Quarter 2, the total received for Measure X is $12.4 million and $16.6 million for the combined remaining sales tax items.
For sales tax payments, the City receives monthly advances from the State with a quarterly clean-up/ reconciliation. There is a lag of one quarter between
when vendors report to the State and when revenues
are received by the City. Details of the first quarter
activity were presented by the City’s sales tax consultant, HdL Companies, at the January 12, 2022 Committee of the Whole meeting.
Current Services. At the end of Quarter 2, a total of
$5.1 million has been received in the Current Services
category. Items in this revenue group include plan
check fees, engineering and inspection fees, recreation revenues, and the Emergency Medical Services Program. Current Services are down by -11.2%, or
-$0.6 million as compared to Quarter 2 of FY 2021.
When comparing to the prior fiscal year, there are
increases in recreation revenues, facility rentals, and passport revenues. These are all items experiencing
an increase when compared to limited activity in the
prior year due to the COVID-19 pandemic. There is
an increase in engineering and inspection revenues
and decreases in plan check related revenues. The
largest decrease at Quarter 2 is for fire service
agreements, which is a timing issue and will be
re-ceived by fiscal year-end.
Other Revenues. The Other Revenues category is the
fourth largest category at the end of the Quarter 2.
Activity in this revenue group includes Rental/Lease
Income, Development Agreements, Telecommunication
Site Rentals, and Billboard Revenues. At the end of
Quarter 2, the total received is $4.7 million. Overall, the Other Revenues category is down by -4.7%, or -$0.2 million, as compared to the same quarter in
FY 2021. This is due to miscellaneous one-time items
received in FY 2021.
General Fund Inflows - Revenues + Transfers In
Quarter 2, FY 2021 to FY 2022
General Fund Through Q2 Through Q2 %
Revenue Category FY 2021 FY 2022 Change
Property Tax $ 34,312,229 $ 35,851,588 4.5%
Sales Tax 15,263,762 16,564,025 8.5%
Measure X - 12,434,371 NA
Current Services 5,702,160 5,064,055 -11.2%
Other Revenue 4,961,786 4,728,775 -4.7%
Other Taxes 3,872,143 4,572,325 18.1%
Payments in Lieu of Services 2,844,531 3,027,487 6.4%
Intergovernmental Revenues 3,541,888 1,703,666 -51.9%
Licenses, Fees & Permits 1,218,821 1,178,788 -3.3%
Fines, Penalties & Forfeitures 254,945 432,680 69.7%
Special Assessments - - NA
Proceeds from Long Term Oblig. - 16,777 NA
Investment Earnings (2,464,161) (210,620) NA
Total Revenues $ 69,508,105 $ 85,363,917 22.8%
Transfers In 511,022 504,571 -1.3%
Total Inflows $ 70,019,127 $ 85,868,488 22.6%
Other Taxes. At the end of Quarter 2, a total of
$4.6 million has been received in the Other Taxes
category. Items in this category include Franchise
Fees, Transient Occupancy Taxes (TOT), and Business
Licenses Taxes. Through the end of Quarter 2, revenues are up by +18.1%, or +$0.7 million, as compared to FY 2021. When comparing to Quarter 2 of the prior year, Franchise Fees and TOT revenues are
higher and Business License Taxes are lower.
General Fund Mid-Year Inflow Estimates
With the updated Mid-Year projections, the General
Fund inflows are estimated to increase by +3.9%,
from $177.6 million to $184.5 million.
February 2, 2022 Quarter 2, Fiscal Year 2022
City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
General Fund Expenditures
The FY 2022 budget was adopted with
$161.7 million in General Fund expenditures. With
continuing appropriations of $11.4 million, encumbrances (committed purchase orders) of $2.3 million, and transfers out of $0.4 million, the beginning outflow budget was $175.8 million. Through Council Actions and other authorized adjustments, the
cumulative budget is $178.6 million.
Through Quarter 2, the City has spent $73.2
million, or 41.0% of the cumulative budget. At this
point in the fiscal year, expenditures should be
approximately 50% of budget. When comparing to
the same quarter in FY 2021, outflows are down
by –12.8%, or -$10.8 million, largely related to
the unfunded pension liability payments and the
issuance of pension obligation bonds. The largest
expenditure category for the General Fund is
Personnel Services.
General Fund Inflows - Revenues + Transfers In
Budget to Mid-Year Estimates, FY 2022
General Fund Mid-Year Changes. The changes in
Mid-Year estimates are based on three revenue categories. Sales Tax. Based on the current economic outlook
and the City’s mix of sales tax generating businesses, sales tax is projected to increase. Measure X revenues are anticipated to grow by +$3.0 million as compared to original estimates. The
remaining sales tax items are estimated to increase by +$2.6 million, totaling and increase of +$5.6 million in sales tax revenues.
Other Taxes. The estimated increase in the Other
General Fund Cumulative Budget Mid-Yr Estimate $%
Revenue Category FY 2021 FY 2022 Change Change
Property Tax 53,697,100 $ $ 53,415,400 $ (281,700) -0.5% Sales Tax 45,168,306 47,721,910 2,553,604 5.7%
Measure X 30,000,000 33,000,000 3,000,000 10.0%
Other Revenue 11,534,124 11,496,702 -0.3% (37,422)
Other Taxes 11,097,000 11,613,000 516,000 4.6%
Current Services 10,667,079 11,136,187 469,108 4.4%
Payments in Lieu of Services 6,086,383 6,086,383 - 0.0% Intergovernmental Revenues 2,589,814 2,880,287 290,473 11.2% Investment Earnings 2,477,625 2,485,306 7,681 0.3%
Licenses, Fees & Permits 1,928,400 1,987,350 58,950 3.1% Fines, Penalties & Forfeitures 569,250 766,462 34.6% 197,212 Special Assessments 497,332 570,746 73,414 14.8%
Proceeds from Long Term Obl - 16,777 16,777 NA
Total Revenues $ 176,312,413 $ 183,176,510 $ 6,864,098 3.9% Transfers In 1,281,600 1,281,600 - 0.0%
Total Inflows $ 177,594,013 $ 184,458,110 $ 6,864,098 3.9% General Fund Mid-Yr Estimate Through Q2 %
Revenue Category FY 2022 FY 2022 Received
Property Tax $ 53,415,400 $ 35,851,588 67.1%
Sales Tax 47,721,910 16,564,025 34.7%
Measure X 33,000,000 12,434,371 37.7%
Other Revenue 11,496,702 4,728,775 41.1%
Other Taxes 11,613,000 4,572,325 39.4%
Current Services 11,136,187 5,064,055 45.5%
Payments in Lieu of Services 6,086,383 3,027,487 49.7%
Intergovernmental Revenues 2,880,287 1,703,666 59.1%
Investment Earnings 2,485,306 (210,620) -8.5%
Licenses, Fees & Permits 1,987,350 1,178,788 59.3%
Fines, Penalties & Forfeitures 766,462 56.5% 432,680
Special Assessments 570,746 - 0.0%
Proceeds from Long Term Obl 16,777 16,777 100.0%
Total Revenues $ 183,176,510 $ 85,363,917 46.6%
Transfers In 1,281,600 39.4% 504,571
Total Inflows $ 184,458,110 $ 85,868,488 46.6%
General Fund Inflows - Revenues + Transfers In
Mid-Year Est. to Actuals, Quarter 2, FY 2022
Taxes category is due to Business License Taxes
and Franchise Fees.
Current Services. The primary increases in this
category are for plan check, passport processing
services, and engineering & inspection services.
February 2, 2022 Quarter 2, Fiscal Year 2022
City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
Personnel Services. In the PERS unfunded liability
line items, there is a decrease of -$15.5 million when
compared to the prior year. This is due to two factors: (1) In FY 2021, the City made an additional contribution of $4.0 million towards the unfunded liability and (2) In FY 2021, the City made the full annual unfunded liability contribution in July 2020. This action provided the City with cash savings of approximately 3%. The City did not exercise the prepayment option in FY 2021 as the City was preparing to issue pension obligation bonds. The bonds were issued in October 2021. For the remainder of FY 2022 and the life of the bonds, the debt service payments will move from the personnel category to materials and supplies.
The Personnel Services (Other) is an increase of
+$5.6 million as compared to the same quarter last
fiscal year. The changes are based on MOU contract
extensions that have been approved by the City
Council. The contract extensions included base pay
increases for Police and Fire and one-time payments
for non-public safety personnel.
Materials and Supplies. The Materials and Supplies
category is down by -$1.7 million when compared to
Quarter 2 of FY 2021. There are multiple increases
and decreases in this category. The primary drivers
are one-time expenditures in the prior year for licensed vehicle and land acquisition transactions.
General Fund Outflows
Expenditures + Transfers Out
Budget to Actuals, Quarter 2, FY 2022
General Fund Outflows
Expenditures + Transfers Out
Quarter 2, FY 2021 to FY 2022
General Fund Expenditures by Department. Through
December 31, 2021, approximately 50% of the fiscal year is complete. Departments with a variance of greater than 10% are explained below.
Capital Improvement Projects. This budget does
not follow the normal trends as these are multiyear projects. Any unspent encumbrances (purchase orders) or remaining balance carries
forward to the next fiscal year to continue the
project activities.
Debt Service. Debt service runs above the trend
at this point in the fiscal year due to the timing of
when debt obligation payments are processed.
Finance and Human Resources. These two departments are experiencing savings due to personnel vacancies.
City Manager’s Office, Planning & Development, and Public Works. These three departments currently have savings due to personnel vacancies and contractual services.
General Fund Through Q2 Through Q2 %
Expenditures By Category FY 2021 FY 2022 Change
Contractual 4,299,333 4,293,775 -0.1%
Materials and Supplies 17,256,768 15,525,848 -10.0%
Other Sources 333,201 526,625 58.1%
Personnel Services (Other) 40,681,203 46,316,443 13.9%
PERS Unfunded Liability (UAL) 15,455,261 3,974,619 -74.3% PERS Addl UAL Payment 4,000,000 -100.0% -
Utilities 1,867,766 2,285,749 22.4%
Total Expenditures $ 83,893,531 $ 72,923,059 -13.1%
Transfers Out 54,021 269,916 N/A
Total Outflows $ 83,947,552 $ 73,192,975 -12.8%
General Fund Cumulative Budget Through Q2 %
Expenditures By Department FY 2022 FY 2022 Spent
Capital Improvement Projects 22,165,625 $ $ 1,435,413 6.5% City Attorney's Office 1,780,788 829,517 46.6%
Community Services 12,705,292 5,288,811 41.6%
Debt Service 4,244,773 2,817,880 66.4%
Economic Development 1,387,005 608,450 43.9%
Elected Officials 157,807 68,386 43.3%
Finance 4,674,258 1,718,042 36.8%
Fire 31,186,799 16,079,580 51.6%
General Government 23,788,657 10,784,008 45.3%
Human Resources 2,541,152 841,233 33.1%
Maintenance Services 5,790,585 2,361,341 40.8%
City Manager's Office 6,025,181 1,671,167 27.7%
Planning & Development 5,771,495 1,901,838 33.0%
Police 51,797,066 25,197,460 48.6%
Public Works 4,174,852 1,319,933 31.6%
Total Expenditures $ 178,191,334 $ 72,923,059 40.9%
Transfers Out 441,557 269,916 61.1%
Total Outflows $ 178,632,891 $ 73,192,975 41.0%
February 2, 2022 Quarter 2, Fiscal Year 2022
City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
Enterprise Funds-Utilities Revenues
Through Quarter 2 of FY 2022, revenues received
have an increase of 3.3%. Total inflows are +2.2%
higher, or +$1.1 million, as compared to the same
quarter in Fiscal Year 2021.
Electric. Comparing Quarter 2 of FY 2022
revenues to FY 2021, there is a net increase of +
$0.6 million, or +7.0%. There is currently an
increase in Utility Service Charges and Investment
Earnings. There is also a decrease in Other
Revenue due to one-time items received in the
prior fiscal year. Of the increase in the
Investment Earnings category, $0.4 million is due to
how the City must report the unrealized gains/losses
from investments. These are book entries and not
actual cash. If the book entries are excluded, the
Quarter 2 revenues for the Electric Utility are a net
increase of +1.8%.
Water. Through the second quarter of FY 2022,
there is an increase of +1.6%, or +$0.5 million, as
compared to FY 2021 revenues. There is an increase in Utility Service Charges and Investment Earnings. There is also a decrease in Other Revenue due to one-time items received in the prior fiscal
year. Of the increase in the Investment Earnings
category, $0.6 million is due to how the City must
report the unrealized gains/losses from investments.
These are book entries and not actual cash. If the
book entries are excluded, the Quarter 2 revenues
for the Water Utility are a net decrease of –0.5%.
Enterprise Funds-Utilities
Inflows - Revenues + Transfers In
Quarter 2, FY 2021 to FY 2022
Enterprise Funds-Utilities
The City operates three utility services through the
Utilities Department (UD): electric, water, and water
reclamation (sewer). Through the collection of fees
and charges, these funds should collect revenues sufficient to finance the costs associated with administration, operations, capital improvement projects (CIP), and debt service.
Enterprise Funds-Utilities Revenues
Revenues Compared, Quarter 2
FY 2020 - FY 2021 - FY 2022
General Fund Reserves
The General Fund has multiple reserves in fund balance for various purposes. For the full list, please reference the City’s financial statements (Note 14
for Fiscal Year Ending June 30, 2021, page 112).
Noted below are the audited FY 2021 amounts,
which total $80.1 million. This represents an
increase of $3.2 million over the FY 2020 noted
reserves. At the January 19, 2022 City Council
meeting, a pension stabilization trust was approved.
Once the trust documents are finalized, $30 million
will be transferred from the Budget Balancing Reserve to the new trust. That transaction will be reflected in the Quarter 3 information.
Enterprise Funds Through Q2 Through Q2 %
Fund Type FY 2021 FY 2022 Change
Electric $ 8,005,200 $ 8,567,382 7.0%
Water 29,626,008 30,106,725 1.6%
Water Reclamation 12,913,335 13,545,124 4.9%
Total Revenues $ 50,544,542 $ 52,219,231 3.3%
Transfers In - Electric 79 - N/A
Transfers In - Water 51,708 - N/A
Transfers In - Wtr Rclm 496,932 - N/A
Total Inflows $ 51,093,262 $ 52,219,231 2.2%
Emergency Budget Total of Noted
Contingency Balancing * Reserves
$ 36,522,368 $ 43,614,486 $ 80,136,855
* $30 Million transferring to Pension Stabilization
Trust, approved Jan. 19, 2022.
February 2, 2022 Quarter 2, Fiscal Year 2022
City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
Water Reclamation. Through Quarter 2, there is a
net increase of +4.9%, or +$0.6 million, when compared to FY 2021. There are increases in Investment Earnings, Utility Service Charges, and Other Sources
(insurance proceeds). There is a decrease in the licenses, fees, and permits category due to one-time capacity fee revenues received in FY 2021.
Of the increase in the Investment Earnings category,
$1.0 million is due to how the City must report the unrealized gains/losses from investments. These are book entries and not actual cash. If the book entries
are excluded, the Quarter 2 revenues for the Water
Reclamation Utility are a net decrease of –3.0%.
Utilities Mid-Year Inflow Estimates
The Mid-Year estimates for the total utility inflows are estimated to decrease by -3.5% over the current
budget amount from $132.8 million to $128.2 million.
Utilities Inflow Mid-Year Changes.
Electric. Electric utility revenues are anticipated to increase by +$0.8 million to $17.1 million. This
represents a +5% increase over the current budget amount of $16.3 million. The increase is from State grant revenues, direct access electric sales,
and miscellaneous income/refunds.
Water. Water utility revenues are estimated to
decrease by a net -$5.4 million, as compared to
the current budget amount of $76.2 million. The
Mid-year estimate of $70.8 million represents a
-7.1% decrease. The decrease is largely due to
one-time capacity fees that are linked to building
activity. Additionally, there are anticipated decreases in utility service charges and fines and penalties. There is an increase included for State
grant revenues.
Enterprise Funds-Utilities
Inflows - Revenues + Transfers In
Mid-Year Estimates to Actuals, Quarter 2, FY 2022
Enterprise Funds-Utilities
Outflows - Expenditures + Transfers Out
Quarter 2, FY 2021 to FY 2022
Enterprise Funds-Utilities Inflows
Budget to Mid-Year Estimates, FY 2022
Enterprise Funds Cumulative Budget Mid-Yr Estimate $%
Fund Type FY 2021 FY 2022 Change Change
Electric $ 16,286,836 $ 17,108,860 $ 822,024 5.0%
Water 76,178,570 70,791,931 (5,386,639) -7.1%
Water Reclamation 35,636,437 35,583,216 (53,221) -0.1%
Total Revenues $ 128,101,843 $ 123,484,007 $ (4,617,836) -3.6% Transfers In - Electric - - N/A -
Transfers In - Water 4,701,340 4,701,340 - 0.0%
Transfers In - Wtr Rclm - - N/A -
Total Inflows $ 132,803,183 $ 128,185,347 $ (4,617,836) -3.5% Enterprise Funds-Utilities Outflows
When comparing the total of utility outflows, Quarter
2 of FY 2022 to FY 2021, outflows are lower by
-11.5%, or -$5.8 million.
There are two main drivers for the overall decrease:
Personnel Services (unfunded liability payments related to pension obligation bonds) and Contractual (construction costs related to capital projects).
Enterprise Funds Mid-Yr Estimate Through Q2 %
Fund Type FY 2022 FY 2022 Received
Electric 17,108,860 $ $ 8,567,382 50.1%
Water 70,791,931 30,106,725 42.5%
Water Reclamation 35,583,216 13,545,124 38.1%
Total Revenues $ 123,484,007 $ 52,219,231 0.0%
Transfers In - Electric - - N/A
Transfers In - Water 4,701,340 - 0.0%
Transfers In - Wtr Rclm - - N/A
Total Inflows $ 128,185,347 $ 52,219,231 40.7%
Enterprise Funds Through Q2 Through Q2 $ %
Expenditures By Category FY 2021 FY 2022 Change Change
Electric
Contractual 413,733 $ $ 242,598 $ (171,135) -41.4%
Materials and Supplies 969,456 1,006,187 36,731 3.8%
Personnel Services (Other) 584,517 710,889 126,373 21.6% PERS Unfunded Liability 388,648 89,771 (298,877) -76.9% Utilities 3,853,748 4,473,238 619,491 16.1%
Electric Total 6,210,102 6,522,684 312,583 5.0%
Water
Contractual $ 5,793,720 $ 2,665,004 $ (3,128,716) -54.0% Materials and Supplies 17,755,512 16,563,404 (1,192,108) -6.7% Personnel Services (Other) 3,340,450 3,589,244 248,794 7.4% PERS Unfunded Liability 1,930,211 401,089 (1,529,122) -79.2% Utilities 3,018,360 1,184,717 (1,833,643) -60.7%
Water Total 31,838,252 24,403,458 (7,434,794) -23.4%
Water Reclamation
Contractual $ 1,779,997 $ 2,770,991 $ 990,994 55.7%
Materials and Supplies 5,995,005 7,049,915 1,054,910 17.6% Personnel Services (Other) 2,056,959 2,243,517 186,559 9.1% PERS Unfunded Liability 1,110,525 225,167 (885,358) -79.7% Utilities 1,145,534 1,138,527 -0.6% (7,007)
Water Total 12,088,020 13,428,118 1,340,097 11.1%
Transfers Out - Electric - - - N/A
Transfers Out - Water - - - N/A
Transfers Out - Water Reclamation - - - N/A
Grand Total $ 50,136,374 $ 44,354,260 $ (5,782,115) -11.5%
Quarter 2, Fiscal Year 2022
City of Corona, CA
Quarterly Budget Update - Quarter 2, FY 2022
February 2, 2022
Personnel Services - all utilities. In the PERS unfunded liability line items, there is a significant decrease (combined -$2.7 million ) when compared to the prior
year. In FY 2021, the City made the full annual
unfunded liability contribution in July 2020. This action provided the City with cash savings of approximately 3%. The City did not exercise the prepayment option in FY 2022 as the City was preparing to issue pension obligation bonds. The bonds were issued in October 2021. For the remainder of FY 2022 and the life of the bonds, the debt service payments
will move from the personnel category to materials
and supplies.
The Personnel Services (Other) is an increase of $0.6
million (combined) as compared to the same quarter
last fiscal year. The changes are based on MOU contract extensions that have been approved by the City Council. The contract extensions include one-time
payments for non-public safety personnel.
Enterprise Funds-Utilities
Outflows - Expenditures + Transfers Out
Budget to Actuals, Quarter 2, FY 2022
Enterprise Funds Cumulative Budget Through Q2 %
Expenditures By Department FY 2022 FY 2022 Spent
Electric
Capital Improvement Projects $ 1,546,473 $ 131,487 8.5% Finance 2,002 518 25.9%
Public Works 185,902 64,771 34.8%
Utilities Department 15,315,017 6,325,908 41.3%
Electric Total 17,049,394 6,522,684 38.3%
Water
Capital Improvement Projects 52,646,827 $ $ 3,070,698 5.8% Finance - 1,553 N/A
Public Works 895,423 297,603 33.2%
Utilities Department 55,113,379 21,033,604 38.2%
Water Total 108,655,629 24,403,458 22.5%
Water Reclamation
Capital Improvement Projects 28,728,206 $ $ 2,993,805 10.4% City Manager's Office 2,926 1,032 35.3%
Finance 12,013 3,107 25.9%
Public Works 622,455 201,826 32.4%
Utilities Department 27,831,218 10,228,348 36.8%
Water Reclamation Total 57,196,818 13,428,118 23.5%
Transfers Out - Electric - - N/A
Transfers Out - Water - - N/A
Transfers Out - Water Reclamation 4,701,340 - N/A
Grand Total $ 187,603,181 $ 44,354,260 23.6%
Electric. Overall, the Electric utility expenditures
through Quarter 2 are up by +5.0%, or +$0.3 million, when compared to last fiscal year, due to wholesale energy costs. At Quarter 2, the capital improvement project expenditures equate to 8.5% of the cumulative budget. The operating budget expenditures total 41.2% of the current FY 2022 budget.
Water. Overall, the Water utility expenditures are
down by –23.4% or -$7.4 million, when compared to
FY 2021. There is a decrease of -$2.5 million for
capital improvement projects and -$4.4 million for the
Utilities Department. The decreases in the Utilities Department are in materials and supplies, personnel, and utilities costs. Through Quarter 2, the capital improvement project costs are 5.8% of the current expenditure budget. The operating budget transactions total 38.1% of the current FY 2022 budget.
Water Reclamation. The Water Reclamation utility
expenditures are up by +11.1%, or +$1.3 million,
when compared to Quarter 2 of FY 2021. There is
an increase of +$1.6 million in capital improvement
project expenditures. At the end of Quarter 2, the
capital improvement project expenditures total
10.4% of the cumulative budget. The operating
budget expenditures total 36.7% of the current FY
2022 budget.
Enterprise Fund Reserves
This project is pending for Fiscal Year 2022 and is not ready for Quarter 2. Staff was anticipating to have
this completed by Quarter 2, but it is still in development. This item will be incorporated with the budget process for FY 2023.
What do you think? We value your opinion.
Is there anything additional you’d like to see in future reports? This will be an evolving process to capture
the areas that are of most interest to the City Council and the community. Please let us know. We appreciate the feedback! Please share your ideas at Budg[email protected], [email protected], or contact Budget staff at (951) 279-3500.