|
9.A. - Page 9 of 21
<br />FY 2020-21 Recommended Budget (AH Funds)
<br />Full -Time Equivalents (FTE)
<br />567.66
<br />*Includes $8,484,050 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 2020-21 General Fund expenditure budget is $142.7 million, which is $6.1 million,
<br />or 4.5 percent more, than the FY 2019-20 adopted General Fund expenditure budget of $136.6 million.
<br />Salaries, wages, and benefits are $101.1 million, or 70.8 percent of the recommended General Fund
<br />expenditure budget. This is an increase from 70.2 percent for FY 2019-20.
<br />Police and Fire Department salaries and benefits, as in most California cities, are a significant portion of
<br />the budget, amounting to approximately $67.5 million, or 66.8 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 and previously negotiated cost of living increases for employees effective during FY
<br />2020-21 (with an estimated cost of up to $2.0 million) are the most significant contributors to rising
<br />expenditures
<br />General Fund revenues (including transfers in) are expected to decrease to $149.8 million in FY 2020-21,
<br />a reduction of 5.7 percent from the FY 2019-20 adopted budget of $158.8 million. Most of the City's
<br />Page 9 of 20
<br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore
<br />L���
<br />FY 2020-21
<br />Recommended
<br />Budget
<br />Revenues
<br />General Fund
<br />$
<br />148,254,980
<br />Special Revenue Funds
<br />11,551,152
<br />Capital Project Funds
<br />1,327,300
<br />Enterprise Funds
<br />91,765,466
<br />Internal Service Funds
<br />39,987,421
<br />Total Revenues
<br />$
<br />292,886,319
<br />Expenditures
<br />General Fund
<br />$
<br />142,667,653
<br />Special Revenue Funds
<br />14,199,633
<br />Capital Project Funds
<br />10,782,205
<br />Enterprise Funds
<br />84,858,489
<br />Internal Service Funds
<br />40,116,962
<br />Total Expenditures
<br />$
<br />292,624,942
<br />Net Change in Fund Balance/Net Position
<br />$
<br />261,377
<br />Full -Time Equivalents (FTE)
<br />567.66
<br />*Includes $8,484,050 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 2020-21 General Fund expenditure budget is $142.7 million, which is $6.1 million,
<br />or 4.5 percent more, than the FY 2019-20 adopted General Fund expenditure budget of $136.6 million.
<br />Salaries, wages, and benefits are $101.1 million, or 70.8 percent of the recommended General Fund
<br />expenditure budget. This is an increase from 70.2 percent for FY 2019-20.
<br />Police and Fire Department salaries and benefits, as in most California cities, are a significant portion of
<br />the budget, amounting to approximately $67.5 million, or 66.8 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 and previously negotiated cost of living increases for employees effective during FY
<br />2020-21 (with an estimated cost of up to $2.0 million) are the most significant contributors to rising
<br />expenditures
<br />General Fund revenues (including transfers in) are expected to decrease to $149.8 million in FY 2020-21,
<br />a reduction of 5.7 percent from the FY 2019-20 adopted budget of $158.8 million. Most of the City's
<br />Page 9 of 20
<br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore
<br />L���
<br />
|