Recommendation to receive and file a Fiscal Year 2021 (FY 21) Budget Performance Report providing an update on the City’s FY 21 financial status and projections for year-end.  (Citywide)
Motion is carried. Thank you. Item last item 21. Reporter from. Financial. Management Recommendation to receive and file a fiscal year 2021 Budget Performance. Report City Wide. There's no public comment, correct? Okay. We're going to just do a brief. And Mr. Monica, do you want to just give us a brief? Performance Report update. I think most accounts have probably read the agenda, but I want to just do that publicly. Yes. Great. All right. Good evening, Mayor. Members of the city council. This report is a preview of the potential FY 21. Year end projections. Just as a comment, your end transactions are still in progress and final disbursements of revenues are still pending. So this report. Is still based on estimates. And we'll bring we'll be bringing. Back a final report on the Fy21 performance based on actual. Per our normal schedule in February. This budget, as a reminder, was established at the start. Of the pandemic in the middle of the incredibly steep and swift recession. And so what we're finding out on a positive. Side is that current projections. Show optimistic signs that revenue. Shortfalls in key areas are not. As severe as originally thought. That we might be, they might be. So, as Tom mentioned earlier. For the general fund. Projections. Are essentially showing that we are generally balanced for FY 21. With a small operating surplus. Of 500,000. I do want to say it's important to note that there are many outstanding variables. And when we're. Talking 500,000. We're talking a very small margin. And so it's. Possible that this number could be. More positive or it could even swing to be a negative. We do have measure A, we still have one quarter left to go, but Measure is currently. Showing a potential net program. Surplus of about 10 million. And so for this final surplus. The city manager will be looking at all the priority items that. Council mentioned on adoption night as well as other major needs. Eligible under Measure eight. And we'll be bringing back a comprehensive list of recommended projects in February in the year and performance report for City Council. Consider very much I think that's a good pick it up just as a note just wanted to add that all the projects that Councilmember Austin and the Council worked on so really worked under a great list of projects. If things continue as planned, those are all going to get funded or are looking like a lot of those going get funded. So that's really great news. So there's a motion and a second on this item. Members, please cast your vote.