12. MID-YEAR BUDGET REVIEW FOR FISCAL YEAR 2021-2022 This report provides the City Council with a Mid-Year Budget Review of Fiscal Year 2021-2022, which projects General Fund operating revenues to be $5.9 million higher than the adopted budget and General Fund operating expenditures to be $1.1 million higher than the amended budget; and projects General Fund Reserves of $27.3 million at June 30, 2022 (or 35% of General Fund operating expenditures) which exceeds the City Council's minimum reserve policy of 20%. - City of Tustin, CA

Meeting: Virtual Regular Meeting of the City Council/ Closed Session at 5:00 pm/Regular Meeting at 6:30 pm

Meeting Time: February 15, 2022 at 5:00pm PST

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Agenda Item

12. MID-YEAR BUDGET REVIEW FOR FISCAL YEAR 2021-2022 This report provides the City Council with a Mid-Year Budget Review of Fiscal Year 2021-2022, which projects General Fund operating revenues to be $5.9 million higher than the adopted budget and General Fund operating expenditures to be $1.1 million higher than the amended budget; and projects General Fund Reserves of $27.3 million at June 30, 2022 (or 35% of General Fund operating expenditures) which exceeds the City Council's minimum reserve policy of 20%.