10. MID-YEAR REVIEW FOR FISCAL YEAR 2020-2021 This report provides the City Council with a Mid-Year Budget Review of Fiscal Year 2020-2021, which projects General Fund operating revenues to be $1.5 million higher than the adopted budget and General Fund operating expenditures to be $1.8 million under budget; and projects General Fund Reserves of $19 million at June 30, 2021 (or 27% of General Fund operating expenditures) which exceeds the City Council's minimum reserve policy of 20%. - City of Tustin, CA

Meeting: Regular Meeting of the City Council

Meeting Time: February 02, 2021 at 5:30pm PST

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Agenda Item

10. MID-YEAR REVIEW FOR FISCAL YEAR 2020-2021 This report provides the City Council with a Mid-Year Budget Review of Fiscal Year 2020-2021, which projects General Fund operating revenues to be $1.5 million higher than the adopted budget and General Fund operating expenditures to be $1.8 million under budget; and projects General Fund Reserves of $19 million at June 30, 2021 (or 27% of General Fund operating expenditures) which exceeds the City Council's minimum reserve policy of 20%.