HomeMy WebLinkAbout03.b. Receive Budget-To-Actual Expenditure Overview Through the Month of October 2023Page 1 of 3
Item 3.b.
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November 27, 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 OCTOBER 2023
Attached are the Fiscal Year (FY) 2023-24 Budget -to -Actual Expenditure Overviews for the Operations
and Maintenance (O&M) and Sewer Construction funds through the month of October 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 interim fiscal performance as it
relates to spending.
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 Tie -In
GOAL FOUR: Governance and Fiscal Responsibility
Strategy 1 - Promote and uphold ethical behavior, openness, and accessibility, Strategy 3 - Maintain financial stability
and sustainability
ATTACHMENTS:
1. Budget -to -Actual Expenditure Overview through October 2023
November 27, 2023 Special FINANCE Committee Meeting Agenda Packet - Page 78 of 271
$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
$10,000,000
O&M Fund Total FY 23-24 YTD Expenses by Month
L $27.9M
Jul-23 Aug-23 Sep-23 Oct-23
$90.9M
Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
--*—Actual Budget
November 27, 2023 Special FINANCE Committee Meeting Agenda Packet - Page 79 of 271
$160
$150
$140
$130
$120
$110
$100
$90
$80
$70
$60
$50
$40
$30 —
$20 —
$10 —
FY 2023-24 Budget to Actual Spending Trend
Sewer Construction Fund
(in millions)
$38.28
�wel_$33.55
$18.62
July August September October November
December January February March April
$150.02
May June
f Budget* -*--Target** --*--Actual
*Total budget equal to adopted budget ($71.2M) plus unspent carryforward appropriations from the prior year ($60.31M), less $18.5M in carryforward directed to reserves per Board -adopted FY 23-24 CIB.
**Target equal to 90% of budget, excluding unused contingenty.
November 27, 2023 Special FINANCE Committee Meeting Agenda Packet - Page 80 of 271