Page 13 - FY 2021-22 CAO Overview of Proposed Budget
P. 13

2021-22 PROPOSED BUDGET FINANCIAL POLICY COMPLIANCE




     Policy                                                  Compliance

     Reserve Fund at least 5% of General                    July 1 at $696 million, or 9.49%
     Fund revenues

     Budget Stabilization Fund                              3.1% in growth is $47 million under 4.1% growth threshold, permitting
                                                             a $2 million withdrawal.  No transfer to Budget.


     General Fund reserves goal: 10% of                     11.27% or $827 million: $696 million Reserve Fund; $118 million
     General Fund revenues                                   Budget Stabilization Fund; $13 million UB – Reserve.


     Capital and technology investment at                   Investment of 2.07% or $152 million
     1.5% of General Fund revenues

     All one-time revenues used for one-                    $715 million in one-time revenues for $581 million in one-time
     time expenditures                                       expenditures


     Debt service as percent of general                     •   3.45% for non voter-approved
     receipts: No more than 6% for non                       •   5.04% for non voter-approved and voter-approved
     voter-approved and 15% for non                          •   Projected to remain below limits until at least 2028-29
     voter-approved and voter-approved

     Achieve structural balance                             Four-Year Outlook projects budget gaps through 2023-24 ranging from

                                                             $3 million to $138 million, followed by two years of surpluses.






                  2021-22 Proposed Budget

                  Presentation to the Budget and Finance Committee                                                                    13
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