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9.A. - Page 8 of 17
<br />The FY 2019-20 Recommended Budget for all funds totals $301.6 million in revenues and $290.6 million
<br />in expenditures. The General Fund revenue portion of the budget is $157.4 million. In prioritizing the long-
<br />term fiscal sustainability of the City, the Recommended Budget is structurally balanced, while maintaining
<br />a General Fund reserve of 15 percent.
<br />The chart below shows the FY 2019-20 Recommended Budget for all City funds.
<br />FY 2019-20 Recommended Budget (All Funds)
<br />Net Change in Fund Balance/Net Position $ 11,581,598
<br />Full -Time Equivalents (FTE) 564.36
<br />*Includes $8,972,411 of Utility Users' Tax revenue that is transferred to the Capital Projects Fund
<br />NOTE: Revenues and Expenditures are shown before transfers in/out
<br />The recommended FY 2019-20 General Fund expenditure budget is $136.6 million, which is $11.7 million,
<br />or 9.4 percent more, than the FY 2018-19 adopted General Fund expenditure budget of $124.9 million.
<br />Salaries, wages, and benefits are $95.8 million, or 70.2 percent of the recommended General Fund
<br />expenditure budget. This is a decrease from 72.2 percent for FY 2018-19.
<br />Police and Fire Department salaries and benefits, as in most California cities, are a significant portion of
<br />the budget, amounting to approximately $63.9 million, or 66.7 percent of all salaries, wages, and benefits
<br />in the General Fund.
<br />Rising employee -related costs, due primarily to escalating payments to fully fund benefits for already -
<br />retired employees, are the most significant contributor to rising expenditures.
<br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore
<br />640
<br />FY 2019-20
<br />Recommended
<br />Budget
<br />Revenues
<br />General Fund
<br />$
<br />157,436,776
<br />Special Revenue Funds
<br />10,106,887
<br />Capital Project Funds
<br />2,351,000
<br />Enterprise Funds
<br />92,885,640
<br />Internal Service Funds
<br />38,829,790
<br />Total Revenues
<br />$
<br />301,610,093
<br />Expenditures
<br />General Fund
<br />$
<br />136,599,336
<br />Special Revenue Funds
<br />14,091,462
<br />Capital Project Funds
<br />14,658,860
<br />Enterprise Funds
<br />86,202,460
<br />Internal Service Funds
<br />38,476,377
<br />Total Expenditures
<br />$
<br />290,028,495
<br />Net Change in Fund Balance/Net Position $ 11,581,598
<br />Full -Time Equivalents (FTE) 564.36
<br />*Includes $8,972,411 of Utility Users' Tax revenue that is transferred to the Capital Projects Fund
<br />NOTE: Revenues and Expenditures are shown before transfers in/out
<br />The recommended FY 2019-20 General Fund expenditure budget is $136.6 million, which is $11.7 million,
<br />or 9.4 percent more, than the FY 2018-19 adopted General Fund expenditure budget of $124.9 million.
<br />Salaries, wages, and benefits are $95.8 million, or 70.2 percent of the recommended General Fund
<br />expenditure budget. This is a decrease from 72.2 percent for FY 2018-19.
<br />Police and Fire Department salaries and benefits, as in most California cities, are a significant portion of
<br />the budget, amounting to approximately $63.9 million, or 66.7 percent of all salaries, wages, and benefits
<br />in the General Fund.
<br />Rising employee -related costs, due primarily to escalating payments to fully fund benefits for already -
<br />retired employees, are the most significant contributor to rising expenditures.
<br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore
<br />640
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