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File #: 22-10457    Version: 1 Name:
Type: Ordinances and Action Items Status: Agenda Ready
File created: 2/7/2022 In control: City Council
On agenda: 3/1/2022 Final action: 3/1/2022
Title: Subject: 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
Attachments: 1. Staff Report, 2. A - Draft Resolution, 3. B - Mid-Year Financial Report for Fiscal Year 2021-22, 4. C – Mid-Year Performance Measures, 5. D - Mid-Year Budget Adjustment Journal, 6. E - Budget Transfers Detail as of 12.31.2021, 7. F – Committed, Unassigned Fund Balance, and Use of One Time Funds Policy (Clean), 8. G - Committed, Unassigned Fund Balance, and Use of One Time Funds Policy (Redline)

Title

SubjectConsider 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