11 PLACENTIA
Rich Heritage, Bright Future
Fiscal Year 2021-22 Mid -Year
Budget Report
March 1, 2022
1 _ _
ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
Mid -Year Budget Report
Overview:
• 2021-22 Requested Budget
Adjustments
• 2021-22 General Fund
Forecasted Yearend
2 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 Requested
Budget Adjustments
PLACENTIA
Rich Heritage, Bright Future
2021-22 General Fund
Requested Budget Adjustments
$41.6M
Amended Budgeted Revenues
Requested Increase
Revised Budgeted Revenues
4 ATTACHMENT 4
2021-22 General Fund
PLACENTIA Requested Budget A
Rich Heritage, Bright Future
$42.1M
$9.OM
or 21.3%
Amended Budgeted
Expenditures
Requested Increase
Revised Budgeted Expenditures
2021-22 General Fund
PLACENTIA E Requested Adjustments
Rich Heritage, Bright Future
Notable Revenue Adjustment Requests:
Revenue Category
Amount
Sales & Use Taxes
$360,000
Permits
Miscellaneous
Transfers In
Measure U Transfer In
$55,000
$119,446
$9,005,992
$245,600
An
Fr
PLACENTIA
Rich Heritage, Bright Future
2021-22 General Fund
Requested Adjustments
Notable Expenditure Adjustment Requests:
Ex a enditure Department
Legislative
$45,000
Development Services
Public Safety — Police
Fire & Life Safety
Public Works
Community Services
Capital Improvement Program
$152,219
$64,860
$(340,394)
$167,280
$134,160
$8,806,750
7 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 Special Revenue Funds
Requested Budget Adjustments
$25.4M
Amended Budgeted Revenues
Requested Increase
Revised Budgeted Revenues
8 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 Special Revenue Funds
Requested Budget Adjustments
$31.2M
$5.6M
or 17.9%
Amended Budgeted
Expenditures
Requested Increase
Revised Budgeted Expenditures
9 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 Special Revenue Funds
Requested Adjustments
Notable Revenue Adjustment Requests:
Revenue Categor
Measure U (0079)
COVID Relief (0081) "ARPA"
Misc Grants (0050) OCTA Grant
Misc Grants (0050) STRONG Grant
$614,000
$4,544,465
$280,000
$(276,600)
Misc Grants (0050) CalTrans Public Art
$70,000
10 ATTACHMENT 4
Ail lir
PLACENTIA
Rich Heritage, Bright Future
2021-22 Special Revenue Funds
Requested Adjustments
Notable Expenditure Adjustment Requests:
Expense Department
Measure U (0079)
$705,600
COVID Relief (0081) "ARPA"
$4,878,575
NOC — Public Safety Grant
$112,366
Misc Grants (0050) OCTA Grant
Misc Grants (0050) STRONG Grant
Misc Grants (0050) CalTrans Public Art
TOD Streetscape Impact Fee (0072)
$280,000
$(270,500)
NINOMMINNIIIIW
A
$70,000
$100,000
CHMENT 4
2021-22 Internal Service Funds
RiPLAHeritegCENBright TFuture qIA Re u ested B u d et Adjustments ch e,
$2.8M
$.4M or
14.3%
Amended Budgeted Revenues
Requested Increase
Revised Budgeted Revenues
111
PLACENTIA
Rich Heritage, Bright Future
2021-22 Internal Service Funds
Requested Budget Adjustments
Amended Budgeted
Expenditures
Requested Increase
Revised Budgeted Expenditures
13 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 Internal Service Funds
Requested Adjustments
Risk Management
• Proposed revenue of $441,035 and expenditure
adjustments of $441,035 for claims and
insurance premiums.
Equipment Replacement Fund
• Eexpenditure includes $12,500 to repair a
damaged vehicle for Deputy Fire Chief
• Lease and outfitting of new Police vehicle to
replace totaled vehicle for $19,330.
14 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 General Fund
Year -End Estimate
PLACENTIA
Rich Heritage, Bright Future
2021-22 General Fund
Year -End Estimate
$41.6M
$51.4M
Amended Budgeted Revenues
Year -End Estimate
Variance to Amended Budget
N'A Year -End Estimate
2021-22 General Fund
Rich Heritage, BrighL Future
$42.1M
$51.1M
Amended Budgeted
Expenditures
Year -End Estimate
Variance to Proposed Budget
17 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 General Fund
Year -End Estimate
$51.4M
Revenues
Expenditures
Net Increase to Fund Balance
18 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
General Fund Reserve vs. CAFR
General Fund
• City's General Fund Reserve = General Fund
Unassigned Fund Balance + Measure U
Contingency Reserve + General Fund Reserve
• City's General Fund Reserve only represents the
fund balance for the City's General Fund
operating budget (Fund 101)
• CAFR General Fund grouping includes:
■ General Fund (Fund 101)
■ Rehab Reimbursements (Fund 116)
■ Measure U (Fund 117)
■ Public Safety Mitigation (Fund 241)
19 ATTACHMENT 4
PLACENTIA
Rich Heritage, Bright Future
2021-22 General Fund Reserve
Year -End Estimate (25%)
Beginning Fund Balance 7/1/2020
2021-22 Forecast
Revenue
Transfers In
Transfers In Measure U
Operating Expenditures
Capital Improvement Program
GF CIP Debt Service
Transfers Out
Change in Fund Balance
Ending Fund Balance 6/30/2021
Fund Balance
Nonspendable
Restricted
Committed Fund Balance - TOD Sewer Project
Committed Fund Balance
Assigned - Section 115 Trust
Measure U - Contingency Reserve
General Fund Reserve
Unassigned Fund Balance
TOTAL FUND BALANCE
General Fund Balance Reserve Target
Operating Expenses
Less: One Time Operating Expenses
Adjusted Operating Expenses
J25% of Operating Expenses
General Fund Operating Reserves
General Fund Operating Reserves %
% Funded
16, 839, 438
37, 933, 591
9,996,792
3,473,200
36, 518, 298
9,353,620
5,181,100
53,000
297,565
17,137, 003
2,209,112
522,982
152,100
3,081,682
5,918,017
5,405,209
17, 289,103
36, 518, 298
(519, 500)
35, 998, 798
8,999,700
14,404, 909
39.4%
160.1%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
General Fund Operating
Reserve
Goal, 25%
FY20-21,
29%
Goal • FY20-21
FY21-22,
39%
FY21-22
20 ATTACHMENT 4
Questions?
1 PLACENTIA
Rich Heritage, Bright Future
21 ATTACHMENT 4