Page 375 - 2020-21 Budget Summary
P. 375

RESERVE FUND



               Actual         Estimated                                                          Proposed
              2018-19          2019-20                                                            2020-21
          Cash at Beginning of Fiscal Year

          $          436,079,701  $          525,591,231  Cash Balance, July 1............................................................................  $          345,877,073
                                            ADD:
                        14,954,397                30,842,870  Charter Section 261i Advances Returned on 7/1.............................                20,000,000
                                     -                                --  Adjustment of Allocation....................................................................                                --
                                     -                  7,639,914  Appropriation to Reserve Fund.........................................................                12,343,213

                       (79,257,375)            (149,810,201)  Reappropriation of Prior Year's Unexpended Capital            (134,915,000)

                                                 Improvement Appropriations and Advances and
                                                 Technical Adjustments................................................................
                         (9,000,000)                 (7,000,000)  Transfers to Budget Stabilization Fund.............................................                                --
                         (5,791,190)                                --  Transfer to Budget*...........................................................................                                --
          $          356,985,533  $          407,263,814  Balance Available, July 1 .....................................................................  $          243,305,286
                                            LESS:
                      170,241,000              180,668,000  Emergency Reserve** (2.75% of GF Budget)..................................              183,902,000
          $          186,744,533  $          226,595,814  Contingency Reserve - Balance Available, July 1................................  $            59,403,286


          RECEIPTS
          $            60,194,049  $            60,591,304  Loans.....................................................................................................  $              8,252,000
                        40,736,058                28,766,368  Charter Section 261i Advances Returned after 7/1.............................                58,000,000
                      232,557,000              229,913,000  Transfer of Power Revenue Surplus....................................................              224,100,000
                                     -                             -  Transfer of Water Revenue Surplus.....................................................                                --
                      209,299,664              148,415,000  Unencumbered Balance.......................................................................                                --
                                     -                             -  Unallocated Revenue............................................................................                                --
                        32,115,566                31,294,008  Transfer of Special Parking Revenue Surplus.....................................                27,720,568
                                     -                             -  Reversion of Special Parking Revenue Surplus..................................
                          5,270,303                18,048,100  Reversion of Unencumbered and Special Funds................................                                --
                          3,614,647                  6,100,367  Miscellaneous.......................................................................................                  3,500,000

          $          583,787,287  $          523,128,147    Total Receipts.....................................................................................  $          321,572,568
          $          770,531,820  $          749,723,961    Total Available Cash and Receipts.....................................................  $          380,975,854

          DISBURSEMENTS
          $            72,364,316  $            56,758,068  Loans.....................................................................................................  $                            --
                                     -                             -  Transfer of Charter 261i receipts to General Fund After 7/1...............                                --
                      232,557,000              229,913,000  Budget--Power Revenue Surplus.........................................................              224,100,000
                                     -                             -  Budget--Water Revenue Surplus.........................................................                                --
                        32,115,566                31,294,008  Budget--Special Parking Revenue Surplus..........................................                27,720,568
                                     -                             -  Transfer of Special Parking Revenue Surplus to General Fund..........                                --
                        16,057,386              216,549,812  Transfers--Contingencies.....................................................................                                --
                                     -                             -  Transfers--Budget.................................................................................
                                     -                             -  Transfers--Budget Stabilization Fund...................................................                                --
                        61,734,021                50,000,000  Charter Section 261i Advances to Departments on 6/30.....................                50,000,000
                             353,300                             -  Advances for Unfunded Expenditure - Year-end Closing....................                                --

          $          415,181,589  $          584,514,888    Total Disbursements...........................................................................  $          301,820,568

          Cash at Close of Fiscal Year
          $          170,241,000  $          180,668,000  Add, Emergency Reserve**..................................................................  $          183,902,000
          $          525,591,231  $          345,877,073    Cash Balance, June 30.......................................................................  $          263,057,286

          *  Transfers are made during the fiscal year by the Controller subject to the cash condition.
          ** Pursuant to the City Charter, a minimum of 2.75% of the General Fund Budget must be kept in reserves for emergencies as an Emergency Reserve account, which may
          only be used after a finding of "urgent economic necessity" made by the Mayor with confirmation of the City Council.  The remaining available balance within the Reserve
          Fund is allocated to the Contingency Reserve account.

                                                          344
   370   371   372   373   374   375   376   377   378   379   380