Draft
Fiscal Year 2022-23
Quarter 4 Financial Report
and Unspent Funds
Attachment 6 – Q4 Presentation
Overview
2 • General Fund Revenue
• General Fund Expenditures
• General Fund Adjustments
• Non-General Fund Revenue
• Non-General Fund Expenditures
• Administrative Budget Adjustments
• Reserve Level
• Capital Improvement Projects Shortfall: Unfunded
• Questions
General Fund Revenue
3 Proposed
Budget
Adjustments
Variance
FY2022-23
Estimated
Year-End
Actual
FY2022-23
Revised
Budget
106.81%51,919,49046,608,929Property Taxes
99.75%55,417,52055,554,137Sales & Use Tax
107.49%54,673,13150,861,279Utility Users Tax
87.40%19,623,67722,452,187Other Taxes
164.37%18,214,21711,080,956Licenses, Permits & Fees
71.56%2,553,7323,568,792Charges for Services
100.00%438,506438,569Grants
-10.0%2,108,8612,342,245Other Revenue
100.03%19,727,19819,720,418Transfers In
105.08%226,024,075215,103,041Total Revenue
Business Tax Paid by Business Class
4 Class A:Retail Sales
21%
Class C:Auto Sales &
Manufacture
17%
Class F:Construction Contractors
11%
Class G: Business & Personal
Services
5%
Class H:Professional & Semi
Profesional Services
17%
Class K1: Rental Res/Non
21%
Other
8%
General Fund Expenditures
5 PROPOSED
BUDGET
ADJUSTMENTS
VARIANCE
ESTIMATED
YEAR-END
ACTUALS
FY 2022-23
REVISED
BUDGET
GENERAL FUND
102.16%69,865,034 68,387,383 Salaries & Wages
6,102,459111.74%67,245,882 60,179,791 Payroll Fringe Benefits
59.16%11,901,455 20,116,834 Professional Services
(364,368)72.98%10,809,626 14,811,473 Other Operating
100.00%15,277,766 15,277,766 Cost Pool
(2,032,525)89.14%3,536,627 3,967,455 Asset Capital Outlay 283.97%2,944,812 1,037,009 Debt Service
102.58%(3,622,739)(3,531,610)A87 Cost Plan Reimbursement 2,396,89396.79%33,772,060 34,893,588 Transfers Out
6,102,45998.42%211,730,524 215,139,689 TOTAL EXPENSES
14,293,551 (36,648)GENERAL FUND NET
+SURPLUS/(-DEFICIT)
General Fund Adjustments
6 VARIANCE
ESTIMATED
YEAR-END
ACTUALS
FY 2022-23
REVISED
BUDGET
GENERAL FUND
105.08%226,024,075215,103,041TOTAL REVENUES
98.42%211,730,524215,139,689TOTAL EXPENSES
14,293,551(36,648)GENERAL FUND NET
+SURPLUS/(-DEFICIT)
Estimated AmountItem
14,293,551FY22-23 Unspent Balance
(2,393,278)Contribution to Reserve
11,900,273Available Unspent Funds
1,190,027Contribution to OPEB @ 10%
1,190,027Contribution to CALPERS @ 10%
9,520,218Remaining for Council Goals and Priorities
Non-General Fund Revenues
7 PROPOSED
BUDGET
ADJUSTMENT
VARIANCE
ESTIMATED
ACTUALS THRU
JUNE 2023
REVISED
BUDGETFUND
2,606,65938%32,372,77285,313,067Total Capital Improvement Fund 742%164,051,58322,107,202Total Debt Service Funds
76%44,808,48158,991,980Total Enterprise Funds
103%2,280,4312,223,584Total Housing Funds
105%5,120,8934,895,044Total Housing Authority Funds
52,000109%27,036,33724,782,653Total Internal Service Funds 112,43165%25,725,11239,280,890Total Other Operations Funds 734%1,213,629165,305Total Pension Funds
16,509,784157%62,822,67139,967,907Total Special Revenue Funds 19,280,874132%365,431,909277,727,632Total All Funds
Non-General Fund Expenditures
8 PROPOSED
BUDGET
ADJUSTMENTS
VARIANCE
ESTIMATED
FY 2022-23
YEAR-END
ACTUALS
REVISED BUDGETFUND TYPE
2,443,03628%28,458,179 100,170,791 Total Capital Improvement Funds 821%177,357,834 21,612,086 Total Debt Service Funds
27%33,303,955 121,226,354 Total Enterprise Funds
20%1,101,601 5,496,861 Total Housing Funds
85%4,182,157 4,915,044 Total Housing Authority Funds
2,635,90081%24,224,430 29,809,742 Total Internal Service Funds 62%27,795,933 44,817,360 Total Other Operations Funds
713%1,500,226 210,463 Total Pension Funds
57%33,020,361 58,088,338 Total Special Revenue Funds
5,078,93686%330,944,677 386,347,037 Total All Funds
Proposed Administrative Budget Adjustments
General Fund, expenditure increase, $6,102,459
General Capital Funds, revenue increase $2,606,659, expenditure increase $2,443,035. Richmond Housing Authority Funds, no net impact.
Internal Services Funds revenue increase $52,000, expenditures increase $2,635,900. Other Operations revenue increase $112,431.
Special Revenue Funds revenue increase 16,509,784.
9 Reserve Level
10 Percentage AmountLine Item
20.88%44,935,389FY 22-23 Beginning Reserve Level
225,374,607FY 23-24 General Fund Budget
21.00% 47,328,667FY23-24 Target Reserve Level @ 21%
2,393,278Additional Funds Needed
11 Capital Improvement Project Shortfall
3 Fiscal Years: Unfunded
FY 2023-24 $6,258,501
•CIP Shortfall (Following Slides) - $5,460,000
•Stenmark Cottages - $520,000
•Richmond Fire Department EOC/IT Equipment
Upgrades -$278,501
•Radio Communication’ Basement Upgrade
•Cabling, Conduit and Services
•EOC Desktops with Conference Audio Video
•EOC Laptops
•Printer/Scanner/Copier
•Smart Board Plotter
•Cell Phones
•Cellular Hot Spots
•Portable Radio
FY 2024-2025 $3,261,717
•Boorman Park Revitalization - $3,000,000
•Corp Yard Bathroom Remodel - $45,000
•Hilltop Fire Station Card Reader - $20,000
•McBryde Safe Routes to Park - $75,000
•Bayview to Bart - $40,000
•Fire Station 66 – Gender Specific Restrooms –
$81,717 (Partial Funding)
Total Unfunded $9,520,218
12 FY 23-24 Capital Improvement Project Shortfall – Unspent Funds FY 2023-2024
Shortfall
Total Project
CostCurrent PhaseGrant
FundedDescriptionProject ##
$215,000$5,291,466DesignYes13TH Street Complete Street291201 $280,000$2,690,506ConstructionYesATP Quick-Build: Cutting/Hoffman and Harbour Way S. Cycle Track
23GO6/
23G07
2 $520,000$3,393,233ConstructionYesCarlson Crosstown Phase I and II29122/ 23033
3 $25,000$124,810OtherYesGreenway Rehab and Bike Education230234 $185,000$1,285,730PlanningYesMcBryde Safe Routes to ParksTBD5 $230,000$1,944,122PlanningYesBayview to BartTBD6
13 FY 23-24 Capital Improvement Project Shortfall – Unspent Funds (Continued) FY 2023-2024
Shortfall
Total Project
CostCurrent PhaseGrant
FundedDescription Project ##
$65,000$2,222,679DesignYesBridge Preventative Maintenance23G021 $750,000$4,410,000DesignYesSF Bay Trail – Point Molate01A142 $300,000$8,499,000ConstructionYesYellow Brick Road291133 $265,000$761,880DesignYesLincoln Safe Routes to SchoolTBD4 $315,000$1,719,520PlanningYesBarrett Avenue Road ImprovementsTBD5 $50,000$274,560PlanningYesMcDonald Ave Pedestrian Crossing Safety Upgrades
TBD6
$1,500,000$5,503,742DesignYesRichmond Communities Clean Collaborative – Boorman Park Site
Remediation
230307
$760,000$9,612,605ConstructionYesTerminal 4 Wharf Removal230218 Total $5,460,000
Thank You!
• Questions?
14