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City of Pleasanton Mid-Term Budget Update • FY 2022/23 6
<br />Overview and Executive Summary
<br />This is an update to the adopted FY 2021/22 & 2022/23 Biennial Budget (adopted by City Council on June
<br />15, 2021) and makes recommended adjustments to the second year (FY 2022/23) of the budget based
<br />on a review of current financial conditions. The operating budget (Operating Budget) is comprised of
<br />several funds that are summarized in the following four categories:
<br />Table 1Table 1
<br />Total Budgeted Expenditures (in Millions)Total Budgeted Expenditures (in Millions)
<br />Fund Category
<br />FY 2020/21
<br />Actual
<br />FY 2021/22
<br />Mid-Year
<br />Budget
<br />FY 2022/23
<br /> Original
<br />Budget
<br />
<br /> Mid-Term
<br />Adjustments
<br />Mid-Term
<br />Budget
<br />General Fund $115.0 $125.2 $133.6 $3.7 $137.2
<br />Enterprise Funds 46.9 51.8 55.2 (1.3) 53.9
<br />Internal Service Fund 15.4 14.2 13.6 2.9 16.5
<br />Special Revenue/Trust Funds 4.4 3.7 2.7 1.0 3.8
<br />Total Expenditures $181.7 $194.9 $205.1 $6.3 $211.4
<br />
<br />The only funds not included in the Operating Budget are the capital improvement funds. The update to
<br />the FY 2022/23 Capital Improvement Program (CIP) is provided in the CIP section of this document.
<br />General FundGeneral Fund
<br />Recommended adjustments to the General Fund include increases of $5.4 million in revenue, $1.7 million
<br />in net transfers, and $3.7 million in planned expenditures, as shown in Table 2. Detailed descriptions of
<br />the proposed changes are noted in the following pages.
<br />Table 2 Table 2
<br />General Fund FY 2022/23 Mid-Term BudgetGeneral Fund FY 2022/23 Mid-Term Budget
<br />FY 2022/23
<br />General Fund
<br />FY 2020/21
<br />Actual
<br />FY 2021/22
<br />Mid-Year
<br />Original
<br />Budget
<br />Recommended
<br /> Adjustments
<br />Mid-Term
<br /> Budget
<br />Beginning Balance, July 1 $32,610,565 $34,389,421 $33,788,571 - $33,788,571
<br />Revenues 125,351,102 136,489,838 137,089,323 $5,394,704 142,484,027
<br />Net Transfers (8,585,925) (11,938,047) (3,923,969) (1,714,516) (5,638,485)
<br />Expenses (114,986,321) (125,152,641) (133,565,354) (3,680,188) (137,245,542)
<br />Net Income $1,778,856 ($600,850)($400,000) - ($400,000)
<br />Ending Balance, June 30 $34,389,421 $33,788,571 $33,388,571 -$33,388,571
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