Midyear Budget Update FY 22-23
City council meeting
February 14, 2023
Purpose of Midyear Review/Update
Tonight’s Objectives
FY 22-23 Midyear Budget Review
General Fund Highlights
Sales Tax revenues continue to grow in major tax groups Minimal midyear operating expenditure requests
The General Fund ended last fiscal year with $3.9 million of available cash balance, $2.9 million better than projected
Proposed FY 22-23 Midyear Budget AdjustmentsGeneral Fund
Annualized Percent Change in Sales Tax Cash Receipts
Herculesannual per capital sales tax
FY 22-23 Midyear Budget ProjectionsGeneral Fund
Proposed FY 22-23 Midyear Budget AdjustmentsNon-General Fund
American Recovery Plan Act (ARPA)Remaining Balance
Next Step
Staff is currently in the process of preparing the FY 23-24 budget which will be introduced to the City Council on May 9, 2023. The table below outlines key Council meeting dates at which budget information will be provided.
Questions?