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HomeMy WebLinkAbout3. General Fund Working Fund Balance Summary - Fiscal Year 2022-2023City of Palm Springs General Fund Working Fund Balance Summary Fiscal Year 2022-2023 FY 2021-22 FY 2021-22 FY 2022-23 FY 2020-21 Revised Estimated Proposed Actual Budget Actual Budget Beginning Fund Balance - Unassigned $ 22,137,767 $ 52,448,S34 $ 52,448,534 $ 74,992,663 Operating Revenues 132,424,420 148,055,303 153,701,092 154,896,097 Transfers In 11,550,000 - - - Add: Grant Revenue 15,536,553 31,556,525 143,974,420 148,055,303 169,237,645 186,452,622 Total Revenues Expenditures (101,544,453) (132,52S,3S2) (131,597,751) (141,041,345) Approved Additional Appropriations FY22 (15,853,900) Transfers Out (12,119,200) (10,529,365) (15,095,765) (9,100,000) (113,663,653) (158,908,617) (146,693,516) (150,141,345) Operating Expenditures Less: Grant Expense (28,772,525) (113,663,653) (158,908,617) (146,693,516) (178,913,870) Total Expenditures Surplus / (Deficit) 30,310,767 (10,853,314) 22,544,129 7,538,752 Required Minimum Fund Balance 30,028,269 Assigned Fund Balance for City Projects $52,448,534 $41,595,220 $74,992,663 52,503,146 $52,448,534 $41,595,220 $74,992,663 82,531,415 Total Fund Balance Before CalPERS CalPERS Reserve Set -Aside $ 22,250,000 $ 28,250,000 $ 28,250,000 $ 31,250,000 CaIPERS Set-Aside/Fund Balance $ 74,698,534 $ 69,845,220 $ 103,242,663 $ 113,781,415 Required Minimum Fund Balance Total 20.00% Fund Balance Total 46.14% 26.18% 51.12% 54.97% Fund Balance CalPERS Reserve Total 19.58% 17.78% 19.26% 20.81% 65.72% 43.95% 70.38% 75.78% Fund Balance %Total 6/8/202211 39 AV