HomeMy WebLinkAbout05. Receive Budget-to-Actual Expenditure overview through the month of October 2023Item 5.
December 7, 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 - A D MI NI S T R AT I O N
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 O C TO B E R 2023
Attached are the F iscal Year (F Y) 2023-24 B udget-to-A ctual E xpenditure Overviews for the Operations
and Maintenance (O&M) and Sewer C onstruction funds through the month of October 2023. T hese
monthly overview reports illustrate year-to-date spending compared to the estimated year-to-date budget at
the f und level in order to provide a high-level overview of C entral San's interim fiscal perf ormance as it
relates to spending.
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 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-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 October 2023
December 7, 2023 Regular Board Meeting Agenda Packet - Page 23 of 99
Page 1 of 3
$27.9M
$31.M
$90.9M
$-
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
$80,000,000
$90,000,000
$100,000,000
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
O&M Fund Total FY 23‐24 YTD Expenses by Month
Actual Budget
December 7, 2023 Regular Board Meeting Agenda Packet - Page 24 of 99
Page 2 of 3
$38.28
$150.02
$33.55
$18.62
$-
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
$110
$120
$130
$140
$150
$160
July August September October November December January February March April May June
FY 2023-24 Budget to Actual Spending Trend
Sewer Construction Fund
(in millions)
Budget*Target**Actual
*Total budget equal to adopted budget ($71.2M) plus unspent carryforward appropriations from the prior year ($60.3M), less $18.5M in carryforward directed to reserves per Board-adopted FY 23-24 CIB.
**Target equal to 90% of budget, excluding unused contingenty.
December 7, 2023 Regular Board Meeting Agenda Packet - Page 25 of 99
Page 3 of 3