|
Fund Balances
<br /> The City's Fund Balances represent accumulated funds available to be spent in the future.Of the
<br /> total $155.9 million in projected FY 2021/22 fund balances,approximately one third are reserves that
<br /> are required to satisfy the City's reserve policy for the General Fund, Enterprise Funds and Repair and
<br /> Replacement Funds'. Fund balances in the Enterprise Funds,Internal Services Funds and Capital Funds
<br /> are expected to decline from FY 2020/21 as a result using fund balances to pay for capital projects and
<br /> replacement equipment.The reductions were anticipated and do not affect he City's ability to maintain
<br /> reserve levels consistent with the City's reserve policy.
<br /> Fund balances in the Special Revenue Funds are increasing by approximately 13 percent in FY 2021/22
<br /> and 27 percent in FY 2022/23 primarily due to the Lower Income Housing Fund.As described in the
<br /> Budget Summary,the Lower Income Housing Fund receives revenue from the affordable housing in lieu
<br /> fee assessed on commercial and residential development in the City.The City uses the Lower Income
<br /> Housing Fund to help support low income housing projects and activities. Because housing projects
<br /> require relatively large subsidies,the City builds up the fund balance in the Lower Income Housing Fund
<br /> to pay for future projects.
<br /> Fund Balances - All Funds
<br /> Actual Mid-Year Projected %of Projected %of
<br /> 2019/20 2020/21 2021/22 Budget 2022/23 Budget
<br /> General Fund* $36,164,998 $38,767,158 $41,101,915 26.4% $38,189,155 23.6%
<br /> Enterprise Funds 23,145,709 20,608,206, 17,714,674 11.4% 15,009,205 9.3%
<br /> Internal Services Funds 46,447,076 37,328,715 34,136,007 21.9% 30,130,692 18.6%
<br /> Special Revenue Funds 17,988,843 20,793,533 23,492,363 15.1% 29,524,125 18.2%
<br /> Trust Funds 395,860 364,005 332,150 0.2% 300,295 0.2%
<br /> 4 n: al Furdu 22 612,15.5 4'',026.584 29,48 TB 25.1% 48,827,511 30.1%
<br /> Total $156,754,642 $158,888,202 $155,895,828 100% $161,980,984 100%
<br /> Includes Rainy Day Fund
<br /> ' Included in the Internal Services Funds category.
<br /> City of Pleasanton Operating Budget • FY 2021/22 - FY 2022/23 44
<br />
|