HomeMy WebLinkAboutYEAR-END UPDATE FISCAL YEAR 2020/21 (ITEM 9) CITY OF TUSTIN
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Year- End Update for
Fiscal Year 2020/21
General Fund Revenues
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General Fund Revenues came in $7 million better than projected and is largely
related to Sales Tax Revenue, Departmental Revenue & Other Revenue.
� $4 $3.9M
$3
AAa
$2
$1.3M
$ 1 $920K
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5alesTax Departmental Other Revenue
Revenue
Sales & Use Tax Revenue
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-
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Major Industry Groups
$10
$8
N
_o $6
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$4
N
$2
$0
Autos and General Consumer Goods State and County Pools
Transportation Projected Actual Projected Actual
Projected Actual
General Fund Expenditures
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� General Fund expenditures were projected to be $73 .8 million .
� Actual expenditures incurred through June 30, 2021 amounted
� to approximately $75 .3 million, which was approximately $1 .5
� million (2%) higher than expected yet within budgeted
� appropriations ($75.7 million ).
General Fund Reserves
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32%
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$24.5M
17% Targeted
Minimum
im (15%)
GFOA National City Policy Reserves at 6/30/21
Benchmark
Pension Funding Update
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Funded Status as of 6/30/20
Tustin Public Agency Avg.
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Tustin CARES Program Update
Fiscal Year 2020/21: The Tustin CARES Program provided over $3
� million indirect fiscal aid to small businesses, non-profits, individuals
� and families in need of assistance to address the economic impacts
� due to the COVID-19 pandemic.
� Fiscal Year 2021/22:
� Meal Gap Assistance ($255k)
� Utilizes ARPA funding from the County of Orange, which is
� required to be spent by January 31, 2022
Tustin Small Business Recovery Grant Program ($2M)
� 2021 Non-Profit Recovery Grant Program ($1M )
Main Street Digital Training and Grant Program
Recommendation
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� It is recommended that the City Council receive and
� file this report on Fiscal Year 2020/21.
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