G.14 Mid-Year & Year-End Jun2022CITY OF
GRAND
TERRACE
MID-YEAR &
YEAR-END
BUDGET REVIEWApril 26, 2022
2030
VISION
•Goal #1:
Ensuring our Fiscal
Viability through the
continuous monitoring of
revenues & expenditures
against approved budget
allocations.
2
PURPOSE OF REVIEW
•Mid-Year actuals
& Year-end
projections;
•Proposed budget
adjustments for
the current year, if
any;
3
MID-YEAR
ACTUALS
JANUARY 31,
2022
FY2021-22 ACTUAL REVENUES AS OF 01-31-2022
9
As of January 31, 2022, General Fund operating revenues
received were $4,139,414, or 47.8% of the approved budget of
$8,654,269.
General Fund operating expenditures through January 31, 2022
were $3,617,338, which represents 53% of the approved
expenditures of $6,822,395.
With 58% of the fiscal year elapsed through January, this shows
a positive result of $339,651 against the expected budget of
$3,956,989.
9
Approved Budget JAN-2022
Monthly Actuals
REVENUES $8,654,269 $4,139,414
EXPENDITURES (6,822,395)(3,617,338)
NET $1,831,874 $522,076
REVENUE & EXPENDITURES AS OF 01 -31-2022
YEAR-END
PROJECTIONS
FY2021-22 PROJECTED REVENUES
9
As of January 31, 2022, General Fund operating revenues
received were $4,139,414, or 47.8% of the approved budget
of $8,654,269.
General Fund operating expenditures through January 31,
2022 are $3,617,338, which represents 53% of the approved
expenditures of the approved budget of $6,822,395.
With 58% of the fiscal year elapsed through January, this
shows a positive result of $339,651 against expected budget
of $3,956,989.
REVENUES Approved
Budget
Year-end
Projection
2017-18
Actuals
Year-end
vs. Appr
Budget
Property Tax $1,980,000 $1,976,300 $1,799,310 $(3,700)
Residual Receipts -RPTTF 1,090,000 1,091,100 1,125,223 1,100
Residual Receipts -Housing 60,000 0 0 (60,000)
Franchise Fees 524,300 515,000 510,761 (9,300)
Licenses, Fees & Permits 419,415 376,080 432,805 (43,335)
Sales Tax 770,000 770,000 773,093 0
Other revenues 310,100 285,200 372,146 (24,900)
Proceeds -Sale of Property 80,000 80,000 0 0
Waste Water Receipts 300,000 318,350 300,000 18,350
OPERATING REVENUES $5,533,815 $5,412,030 $5,313,338 $(121,785)
REVENUES
Approved
Budget
JAN-2022
Monthly
Actuals
Year-End
Projection
Variance
(Year-end vs.
Budget)
Property Tax $4,194,640 $2,329,354 $4,586,773 $392,133
Franchise Fees 620,000 179,191 631,646 11,646
Other Permits & Fees 95,870 46,164 104,276 8,406
Sales Tax 988,000 468,553 1,110,053 122,053
Business Licenses Fees 95,000 48,813 114,913 19,913
Charges for Services 440,450 117,612 186,550 (253,900)
Fines & Forfeitures 66,300 24,333 44,273 (22,027)
Miscellaneous 0 13,385 14,885 14,885
Use of Money & Property 34,660 13,916 28,416 (6,244)
County Solid Waste 22,000 13,168 52,168 30,168
Proceeds from Sale of Prop 1,770,000 870,601 2,070,601 300,601
Motor Vehicle Fees 9,000 14,324 14,324 5,324
Waste Water Receipts 318,349 0 318,349 0
TOTAL REVENUES $8,654,269 $4,139,414 $9,277,227 $622,958
9
FY2021-22 PROJECTED EXPENDITURES
EXPENDITURES Approved
Budget
JAN-2022
Monthly
Actuals
Year-end
Projection
Year-end
vs. Appr
Budget
City Council $76,621 $29,096 $51,170 $25,451
City Manager 847,763 479,523 843,227 4,536
City Clerk 234,763 125,882 217,816 16,947
City Attorney 210,000 110,143 255,502 (45,502)
Finance 480,364 231,016 412,722 67,642
Planning & Dev. Svcs.1,064,523 493,823 904,831 159,692
Public Works 659,645 387,173 705,495 (45,850)
Law Enforcement 2,440,940 1,074,592 2,304,521 136,419
Non-Departmental 807,776 686,090 872,235 (64,459)
TOTAL EXPENSE $6,822,395 $3,617,338 $6,567,519 $254,876
9
FY2021-22 REVENUE & EXPENSE
Approved
Budget
JAN-2022
Actuals
Year-End
Projection
Year-end
vs. Appr
Budget
REVENUE $8,654,269 $4,139,414 $9,277,227 $622,958
EXPENSE (6,822,395)(3,617,338)(6,567,519)254,876
NET $1,831,874 $522,076 $2,709,708 $877,834
General Fund’s Long -Term
Financial Performance
Healthy
Sustainable
Vulnerable
Unsustainable/
Insolvent
09/10
Rev
$4.7M
Exp
$4.0M
10/11 11/12 12/13 13/14 14/15 15/16 16/17
Healthy:Revenues exceed expenditures,continue to show growth,City maintains a 2-month reserves-rainy day fund
Sustainable:Revenues exceeds expenditures (2-month reserves–rainy day fund)
Vulnerable:Revenues exceed expenditures (less than the 2-month reserve–rainy day fund)
Unsustainable/Insolvent:Revenues less than expenditures
Rev
$5.3M
Exp
$5.5M
Rev
$6.1M
Exp
$5.1M
Rev
$5.3M
Exp
$4.7M
Rev
$5.2M
Exp
$4.8M
Rev
$4.8M
Exp
$4.4M
Rev
$4.5M
Exp
$4.5M
Rev
$5.0M
Exp
$4.8M
17/18
Rev
$5.3M
Exp
$5.3M
18/19
Rev
$5.4M
Exp
$5.4M
19/20 20/21
Rev
$5.4M
Exp
$5.7M
Rev
$6.3M
Exp
$6.2M
QUESTIONS?