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9.A. - Page 11 of 21 <br />As shown in the graph below, with a "U" shaped recession, and without any adjustments to current <br />operating costs or revenue sources, deficits would occur throughout the 10 year period. The annual <br />budget deficit is projected to be approximately $10.1 million in FY 2020-21, and to grow to approximately <br />$20.8 million in FY 2029-30. <br />Projected General Fund Net Operating Position - "U" Shaped Recession <br />(in thousands) <br />2O 7 1.111 223 32A "'-LS y26 byl x,28 $y9 930 <br />10 -LO -11 01011 0 201- 0 201- F.( Zp2 Ey 201- 0 202 , 0 202 FIt 202 1,14202 10.0 . <br />$2,000 <br />$386 <br />$(4,000) <br />$(10,000) <br />$(10,113) $(10,369) <br />$(16,000) <br />$(22,000) <br />$(19,190) $(19,375) <br />$(20,789) <br />- $(21,281) $(21,497) $(21,592) $(21,713) <br />Page 11 of 20 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />700 <br />