10. MID-YEAR BUDGET REVIEW FOR FISCAL YEAR 2022-2023 This report provides the City Council with a Mid-Year Budget Review of Fiscal Year 2022-2023, which projects General Fund operating revenues to be $2.2 million higher than the adopted budget and General Fund operating expenditures to be $2.1 million higher than the amended budget; and projects General Fund Reserves of $27 million at June 30, 2023 (or 30% of General Fund operating expenditures) which exceeds the City Council's reserve policy of 15% to 20%. - City of Tustin, CA

Meeting: Regular Meeting of the City Council/Closed Session-5:30 pm/Regular Meeting-7:00 pm

Meeting Time: February 21, 2023 at 5:30pm PST

Agenda Item

10. MID-YEAR BUDGET REVIEW FOR FISCAL YEAR 2022-2023 This report provides the City Council with a Mid-Year Budget Review of Fiscal Year 2022-2023, which projects General Fund operating revenues to be $2.2 million higher than the adopted budget and General Fund operating expenditures to be $2.1 million higher than the amended budget; and projects General Fund Reserves of $27 million at June 30, 2023 (or 30% of General Fund operating expenditures) which exceeds the City Council's reserve policy of 15% to 20%.