2020 Revised Budget Public Hearing #1 on Mayor Freys Recommended - PowerPoint PPT Presentation

Jan 03, 2024 •227 likes •289 views

2020 Revised Budget Public Hearing #1 on Mayor Freys Recommended Revised Budget July 14, 2020 Scope of Problem Projected Revenues shown in $Millions General Downtown Utilities Parking Other Total Fund Assets Revenue Loss (32.7)

2020 Revised Budget Public Hearing #1 on Mayor Frey’s Recommended Revised Budget July 14, 2020
Scope of Problem Projected Revenues shown in $Millions General Downtown Utilities Parking Other Total Fund Assets Revenue Loss (32.7) (69.2) (13.9) (28.1) (12.0) (155.9) Transfer Changes (22.0) 22.0 - - - - Change from 2020 Adopted (54.7) (47.2) (13.9) (28.1) (12.0) (155.9)
Phase I Projected Revenues & Cost Containments shown in $Millions General Fund Downtown Utilities Parking Other Total Assets Revenue Loss (32.7) (69.2) (13.9) (28.1) (12.0) (155.9) Transfer Changes (22.0) 22.0 - - - - Hiring Freeze 11.2 1.5 3.9 1.1 5.3 23 Wage Freeze 5.1 0.1 0.3 0.1 0.6 6.1 Delay/Defer IT & Fleet 7.1 - 1.6 - 1.3 10.1 Discretionary Freeze 1.8 0.2 0.4 0.1 0.4 2.9 Contracts less 15% 2.5 1.8 4.5 3.7 3.8 16.2 Remaining Deficit (27.0) (43.7) (3.2) (23.1) (0.7) (97.7)
Phase II Projected Revenues & Cost Containments shown in $Millions General Fund Downtown Utilities Parking Other Total Assets Revenue Loss (27.0) (43.7) (3.2) (23.1) (0.7) (97.7) Debt for Capital 5.3 - - 7.0 - 12.3 Program Adjustments 9.4 11.2 - 3.0 - 23.6 Payroll Reductions 4.3* - - - - 4.3 Use of Cash 8.0 32.5 3.2 13.1 0.7 57.5 Remaining Deficit - - - - - - *Payroll Reductions will occur across all funds but are being shown in the General Fund as precise plans are still in deveolpment
Thank You City of Minneapolis

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