Title
Subject: (Item 11 on March 1, 2022 Agenda) Consider accepting the Mid-Year Financial Report for Fiscal Year 2021-22; consider adopting Resolution No. 22-032 approving Budget Modification #2122-189 increasing appropriations by $9,457,951 and revenues by $10,220,000
Recommended Action
1. Consider Accepting the City Manager’s Mid-Year Financial Report for FY 2021-22
2. Consider Adopting Resolution No. 22-032 approving Budget Modification #2122-189 increasing appropriations by $9,457,951 and revenues by $10,220,000
3. Consider Approving the Conversion of (One) Limited-Term Project Manager Position to Full-Term Position.
4. Consider Approving Amendments to City's Committed, Unassigned Fund Balance, and Use of One Time Funds Policy which includes the following changes:
a. Consider Approving $2,000,000 contribution from the General Fund to the City’s Section 115 Pension Trust
b. Consider Increasing the City’s General Fund Economic Uncertainty Committed Reserve by $5,000,000
c. Consider Establishing a General Fund Capital Project Committed Reserve in the amount of $10,000,000
Presenter: Kristina Alfaro, Administrative Services Director