Revision to Agenda Item #2
• Fiscal Impact section:
1st bullet point should read as follows:
City of Victorville – An appropriation of funds, increasing the expenditures by $2,160,976.77 and increasing the revenue by $19,547,742.
Last paragraph should read as follows:
Approval of this agenda item would increase total expenditure budget for the Fiscal Year 2021-22 by $13,938,476.77 and increase the total combined revenue budget for the Fiscal Year 2021-22 by $24,926,471.
• Discussion section:
FY 2021-22 City of Victorville Budget Summary as of December 31, 2021 should read as follows:
Citywide FY21/22
Adopted
Budget
FY21/22
Revised
Budget
Mid -Year
Proposed
Budget
Difference
Increase
(Reduce)
Revenue 306,529,379 320,536,203 345,462,674 24,926,471 Expenditures 279,238,605 320,225,894 334,164,371 13,938,477
Sales Tax and Property Tax (3 rd paragraph-second to last sentence) should read as follows:
While the original forecast of revenues received by mid -year was estimated at $10.0 million, to date the City has received $12.3 million.
Last paragraph:
Property taxes are trending slightly higher than FY2020-21 actual and are expected to at least match prior year ending amount of $19.5 Million based on current housing information.
• Attachment A has been revised and is reflective of the aforementioned changes.
• Attachment B, Resolution 22-018, Section 1 should read as follows:
That the increased estimates for expenditures for the City at mid -year for the fiscal year 2021-2022 now in the hands of the City Clerk is hereby adopted in the amount of $2,160,976.77; and the additional estimates for revenues for the City is $19,547,742.
Clean Red Version
Redline Version