Page 13 - CAO Overview of the Proposed 2022-23 Budget
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PROPOSED BUDGET FINANCIAL POLICY COMPLIANCE
Policy Compliance
Reserve Fund at least 5% of General July 1 at $466 million, or 6.25%
Fund revenues
Budget Stabilization Fund 8.79% in growth from Adopted 2021-22 to Proposed 2022-23 is $257
million above 3.6% growth threshold, requiring the budgeted $64.3
million appropriation to the Fund.
General Fund reserves goal: 10% of 8.84% or $660 million: $466 million Reserve Fund; $184 million Budget
General Fund revenues Stabilization Fund; $10 million UB – Reserve.
Capital and technology investment at Investment of 1.36% or $102 million
1.5% of General Fund revenues
All one-time revenues used for one- All $247 million in one-time revenues used for $387 million in one-
time expenditures time expenditures
Debt service as percent of general • 2.96% for non voter-approved
receipts: No more than 6% for non • 4.74% for non voter-approved and voter-approved
voter-approved and 15% for non • Projected to remain below limits until at least 2029-30
voter-approved and voter-approved
Achieve structural balance Four-Year Outlook projects budget surpluses through the projection
period from $77 million to $600 million.
2022-23 Proposed Budget
Presentation to the Budget and Finance Committee 13
