Agenda Packet 12-9-19 Meeting - Laserfiche WebLink

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December 9, 2019, Meeting – Item 4 General Fund FY19 Final Results and FY20 MBWC For the Main Subfund of the General Fund, the MBWC adjustment is $1,342,038. MBWC can vary significantly from year to year. Excluding two large and unexpected legal settlements, the MBWC has averaged about $2.8 million each year over the past five years, with a range of negative $0.2 million to a positive $7.6 million. The FY20 MBWC adjustment is due to a combination of higher revenues than anticipated ($0.8 million) and departmental underspending ($0.5 million) in FY19. Actual revenue variances from FY19 estimates included the following: Taxes were $0.5 million over estimates, due to higher property tax ($0.4 million) and localmarijuana tax ($0.1 million) revenues; License and Permit revenue was $0.5 million higher than anticipated; and Miscellaneous revenues, charges for services and intergovernmental revenues were allslightly below budget estimates.On the expenditures side, total underspending after accounting for funds allocated to cover the budgeted reserve for encumbrance was about $0.5 million. With fewer vacant positions and resource needs to advance strategic initiatives, this amount reflects a lower amount of departmental underspending than in recent years. For more information about FY19 results, the FY19 Ending Working Capital and the Ending Fund Balance for the General Fund, see Attachment C of the Agenda Item Summary on the Compre-hensive Annual Financial Report for the Fiscal Year Ended June 30, 2019. That attachment includes information and highlights from the FY19 Comprehensive Annual Financial Report. General Fund Transactions The funds available for appropriation in the General Fund on this supplemental budget consist of the following items: Funding Source Amount MBWC adjustment $1,342,038 FY20 Adopted Reserve for Encumbrances 4,217,614 Ground Emergency Medical Transport Revenue (net of expenses) 700,222 General Fund Contingency 12,000 Reserve for Revenue Shortfall 12,060,780 Total funds available for appropriation $18,332,654 The total amount of funds suggested for appropriation on this supplemental budget in the Main Subfund of the General Fund (excluding $1,664,562 of expenditures backed by grant and Urban Renewal Agency revenues) consists of the items shown in the chart on the following page. CC Agenda - Page 288