HomeMy WebLinkAbout03. Receive Budget-to-Actual Expenditure overview through the month of March 2023Item 3.
May 4, 2023
T O: HO NO R A B L E B O A R D O F D I R E C TO R S
F RO M :K E V I N MI Z UNO, F I NA NC E MA NA G E R
C HR I S TO P HE R T HO MA S , A C C O UNT I NG S UP E RV I S O R
RE V IE WE D B Y:P HI L I P L E I B E R , D E P UT Y G E NE R A L MA NA G E R
R O G E R S. B A I L E Y, G E NE R A L MA NA G E R
S UB J E C T: R E C E I V E B UD G E T-TO-A C T UA L E X P E ND I T UR E O V E RV I E W T HR O UG H
T HE MO NT H O F MA R C H 2023
Attached are the F iscal Year (F Y) 2022-23 B udget-to-A ctual E xpenditure Overviews for the Operations
and Maintenance (O&M) and Sewer C onstruction funds through the month of March 2023. T hese monthly
overview reports illustrate year-to-date spending compared to the estimated year-to-date budget at the
fund level in order to provide a high-level overview of Central S an's fiscal perf ormance.
W hile these monthly overviews provide a summary-level snapshot of Central S an's fiscal perf ormance, a
more robust report is provided to the Board on a quarterly basis which summarizes financial results in more
detail. W hile staf f considers the monthly overview reports to be materially accurate, it is emphasized that
these are un-audited and may be subject to change following the completion of quarterly and year-end
"hard close" procedures, as well as adjustments arising from the year-end independent audit.
Strategic Plan Tie-I n
G O A L FO U R : G overnance and Fiscal R esponsibility
Strategy 3 - Maintain financial stability and sustainability
AT TAC HM E NT S :
D escription
1. B udget-to-A ctual E xpenditure Overview through March 2023
May 4, 2023 Regular Board Meeting Agenda Packet - Page 21 of 218
Page 1 of 3
$64.4M$85.0M$61.3M $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23O&M Fund Total FY 22‐23 YTD Expenses by MonthActualBudgetMay 4, 2023 Regular Board Meeting Agenda Packet - Page 22 of 218 Page 2 of 3
$103.1M$158.0M$75.8M$116.2M$38.1M $- $15,000,000 $30,000,000 $45,000,000 $60,000,000 $75,000,000 $90,000,000 $105,000,000 $120,000,000 $135,000,000 $150,000,000 $165,000,000Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23Sewer Construction Fund Total FY 22‐23 YTD Expenses by MonthBudget*Target**Actual*Total authorized spending (2022-23 budget plus unspent rollover appropriations from PY)**90% of total authorized spending (reduced by $28.9M per updated mid-year projections)May 4, 2023 Regular Board Meeting Agenda Packet - Page 23 of 218 Page 3 of 3