HomeMy WebLinkAbout03.c. Receive Budget-To-Actual Expenditure Overview Through the Month of August 2023Page 1 of 3
Item 3.c.
F__1_448�411C_S0
September 19, 2023
TO: FINANCE COMMITTEE
FROM: KEVIN MIZUNO, FINANCE MANAGER
CHRISTOPHER THOMAS, ACCOUNTING SUPERVISOR
REVIEWED BY: PHILIP LEIBER, DEPUTYGENERAL MANAGER -ADMINISTRATION
ROGER S. BAILEY, GENERAL MANAGER
SUBJECT: RECEIVE BUDGET -TO -ACTUAL EXPENDITURE OVERVIEW THROUGH
THE MONTH OF AUGUST 2023
Attached are the Fiscal Year (FY) 2022-23 Budget -to -Actual Expenditure Overviews for the Operations
and Maintenance (O&M) and Sewer Construction funds through the month of August 2023. These 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 San's fiscal performance.
While these monthly overviews provide a summary -level snapshot of Central San's fiscal performance, a
more robust report is provided to the Board on a quarterly basis which summarizes financial results in more
detail. While staff 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 re -In
GOAL FOUR: Governance and Fiscal Responsibility
Strategy 3 - Maintain financial stability and sustainability
ATTACHMENTS:
1. Budget -to -Actual Expenditure Overview through August 2023
September 19, 2023 Regular FINANCE Committee Meeting Agenda Packet - Page 107 of 113
O&M Fund Total FY 23-24 YTD Expenses by Month
$100,000,000
$90.9M
$90,000,000
$80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$16.9M
$20,000,000
$10,000,000
$12.SM
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
--*—Budget 4 Actual
September 19, 2023 Regular FINANCE Committee Meeting Agenda Packet - Page 108 of 113
Sewer Construction Fund Total FY 23-24 YTD Expenses by Month
$150,000,000
$146.614
$140,000,000
$130,000,000
$120,000,000
$131.9M
$110,000,000
$100,000,000
$90,000,000
$80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000 $9.14
$10,000,000 $8.114
$- $3.814
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
F-Budget* (Target** N-Actual
*Total budget is adopted budget of $71.2 million, plus unspent carryforward appropriations from PY, less $18.5 million in carryforward directed to reserves per Board -adopted FY 2 3 - 2 4 C1B.
**90% of budget (with carryforward).
September 19, 2023 Regular FINANCE Committee Meeting Agenda Packet - Page 109 of 113