FY 2022-23 Third QuarterBudget UpdateSeptember 26, 2023Item 15.2 3rd Quarter FY 2022-23General Fund RevenuesAs of March 31, 2023:•Year to Date = $188.5 million •66% of the $285.6 million budgetYear-end Projection:•$309.8million•$24.1 million, 8.4 % over the budget •Largest variances:•Sales Tax +$13.8 million•Utility User Tax +$2.4 million•Business License Tax +$1.8 million•Franchise Tax +$1.4 million 3rd Quarter Revenues
3rd Quarter FY 2022-23General Fund ExpendituresAs of March 31, 2023:•Expenditures = $186.5 million •53% of the $350.5 million budgetYear-end Projection:•$ 326.6 million•$ 23.9 million, 6.8 % under budget•Police Department $ 16.9 million•Fire Department $ 3.5 million 3rd Quarter FY 2022-23General Fund Budget
3rd Quarter FY 2022-23Recommendation•Accept 3rd Quarter Budget Status Update report.•Approve two budget amendments.1. Authorize funding and appropriations of $18,000 from Municipal Utilities Storm Drainage Maintenance District fund balance.2. Authorize increase in both revenue and expenditure appropriations by $2,500,000 in the Workers’ Compensation Internal Service Fund.