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112 Cityof <br />Om Louisville <br />COLORADO • SINCE 1878 <br />CITY COUNCIL COMMUNICATION <br />AGENDA ITEM 2A <br />SUBJECT: <br />DATE: <br />2020 YEAR -IN -REVIEW <br />J U LY 23, 2021 <br />PRESENTED BY: HEATHER BALSER, CITY MANAGER <br />KEVIN WATSON, FINANCE DIRECTOR <br />SUMMARY <br />When developing the 2021-2022 biennial budget, staff made various revenue and <br />expenditure projections for 2020 in order to estimate the 2020 ending fund balance, which <br />is the beginning fund balance, the starting point, for the 2021-2022 biennium. <br />It was necessary to make these projections well in advance of the 2020 fiscal year-end. <br />Therefore, as the first step in developing the 2022 Budget, the Capital Improvements <br />Plan, and the Long -Term Financial Plan, staff updated all financial calculations by <br />replacing the 2020 projections with the 2020 actual audited amounts. <br />The purpose of this agenda item is to briefly review the differences between the 2020 <br />projections and the 2020 actual audited amounts for the City's main operating funds. The <br />following table summarizes and compares these amounts for the General Fund. <br />CITY COUNCIL COMMUNICATION <br />