HomeMy WebLinkAboutBUDGET ADOPTION (ITEM 13)Fiscal Year 2022/23
Budget Adoption
June 21, 2022
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Budget Adoption
June 2022
Budget 'Study
Session
Presented to City
Council Et Public
June 2022
Budget Kickoff
December 2021
Fiscal Year Begins
July 1, 2022
Final Review
City Manager a
Finance Meet with
Depts.
April/May 2022
Operating Budget €t
Position Control
due from Depts.
January 2022
Capital Projects
due from Public
Works
February 2022
Remembering what connects us.
2
General Fund Reserves
17%
20%
Targeted
15%-20%)
(Minimum
(15%)
31%
$26m
OFOA National Benchmark City POUCY Projected Reserves
Pension Paydown
Current Funded Status
Assumes CaIPERS earns 6.8% on
average over the next 8 years
Tustin CARES Program
Proposed American Rescue Plan Act (ABPA) Budget for FY 2022/23:
2022 Small Business Recovery Grant Program ($2m)
2022 Non -Profit Recovery Grant Program
Phase 1: Lost Revenue -Large Grants ($250k)
Phase 2: COVID-19 Response Efforts ($250k)
Phase 3: Lost Revenue —Small Grants ($500k)
Revenue Replacement for the Provision of Government Services
$3.4m Transfer to General Fund for Public Safety
$460k Transfer to Housing Authority for the Homeless Shelter
COVID-19 Response, Relief &Reinvestment ($900k)
2022/23 Proposed Capital Improvement Program
Public Facilities,
71188,416, 12%
Traffic & Street
Improvements,
18,608,053, 30%
Water & Storm Drain
Improvements,
$3,756,,368),6%
Recommendation
It is recommended that the City
Council
proceed
with the
adoption
of the
budget and related resolutions
as outlined in the
agenda
report.