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Highlights- FY Ending June 30, 2019

• The City’s governmental funds reported revenues of $7.56 billion,


which is a $1.15 billion or 17.9 percent increase over the prior year.
• The City’s governmental funds expenditures totaled $6.27 billion, which
is $421.1 million or 7.2 percent increase over the prior year.
• At the end of FY2019, the total funds balances for the governmental
funds amounted to $5.14 billion, an increase of $563.3 million or 12.3
percent from the prior year.
Total Revenues Again Outpace Expenses,
Despite Projected Deficit in FY2018-19
Billions $13.0
$12.535
$12.5

$12.0

$11.5

$11.0
$10.630
$10.5

$10.0

$9.5
Total Revenues Total Expenses
Budget Reserves Reach All-Time High
• The General Fund rainy day and budget stabilization reserves grew to
$721.7 million at the end of the fiscal year 2018-19, and for the first
time have reach target levels of 10 percent of revenues. Total reserve
funds reached $936.8 million.
The Mayor’s 3.5% Budget Cut is Not Based on Facts
$1,200.00
$988.5
$1,000.00
$793.3
$800.00

$600.00

$400.00 $320.9 $348.0

$200.00

$0.00
FY 16 & FY17 FY 17 & FY18 FY 18 & FY 19 FY 19 & FY 20 FY 20 & FY 21 FY 21 & FY 22
($200.00) ($104.20)
($261.60) ($270.80)
($400.00) ($340.00)
($402.40) ($419.5)
($600.00)
Projected Deficit at Time of Budget Instructions ($M)
Surplus from Original Budget and Year-End Actuals at Time of Joint Report ($M)
Sources: Joint Reports: Table A-4a and Mayor’s Budget Instructions