FY 2021-22 Third Quarter
Budget Update
City of Stockton
June 26, 2022
Item 15.4
FY 2021-22 Third Quarter
General Fund Revenues
As of March 31, 2022:
•Year to Date = $ 148.7 million
• 60% of the $251.4 million budget
Year‐end Projection:
•$284.2 million
• $32.9 million, 13% above budget
• Largest variances:
• Sales Tax +$19.4 million
• Utility Users Tax +$3 million
• Business License +$4.5 million
General Fund Revenues
by Quarter
FY 2017‐18 FY 2018‐19 FY 2019‐20 FY 2020‐21 FY 2021‐22 1st Quarter 11% 12% 14% 15% 10%
2nd Quarter 23% 31% 31% 34% 24%
3rd Quarter 62% 67% 67% 66% 60%
Year‐End 103% 105% 106% 121% 0%
Budget 100% 100% 100% 100% 100%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
% of Annual Budget
Quarterly Receipts as a % of Budget
3rd Quarter FY 2021-22
General Fund Expenditures
As of March 31, 2022:
•Year to Date = $ 173.3 million
• 58% of the $300.9 million budget
Year‐end Projection:
•$285.2 million
• $15.7 million, 5% under the budget
• Police Department $11.8 million
• Public Works $982,000
• Fire $883,000
3rd Quarter FY 2021-22
General Fund Budget
67.5% 68.1% 65.2%
43.4% 46.2%
25.6%
52.7%
0.0%
Budget Vs. Actual
3rd Quarter % Expended
Budget
Actual Expenditures
3rd Quarter Projection
3rd Quarter FY 2021-22
Recommendation
• Accept this budget status report
• Authorize the continuation of up to $5,639,795 in FY
2021‐22 budget appropriations to FY 2022‐23 for the
completion of the identified programs