Title
Adoption of Resolution Authorizing Fiscal Year-End Budget Amendments to Facilitate Closing Fiscal Year (FY) 2019-20; and
Adoption of Resolution Amending the FY 2020-21 Budget. (Finance 2410)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
As part of the fiscal year-end review, staff identified a number of funding sources that are available to be re-appropriated for operating programs in FY 2020-21 as well as other cleanup adjustments to the FY 2020-21 budget. Staff is seeking authorization for these amendments to the FY 2020-21 budget.
BACKGROUND
The City Council adopted the Biennial Budget for FYs 2019-20 and 2020-21 on June 18, 2019. After the first year of the budget cycle, City Council approved an update to the second budget year (Mid-Cycle Budget Update) on June 16, 2020.
In preparation for closing FY 2019-20, staff identified eight (8) funds that need adjustments through year-end budget adjustments in order to avoid audit comments, as well as funding available for carryforward into FY 2020-21, which is subject to appropriations approval by the City Council.
DISCUSSION
Fiscal Year-End 2019-20 Budget Adjustments
Several funds require adjustments in FY 2019-20 and need additional appropriations-:
Fund
Fund Name
Amount
Issue
Recommendation
215
County Measures B/BB
$722,126
Pavement Management CIP (91810) was double-budgeted in an earlier year.
Appropriate an additional $259,000 and $464,000 in Measures B and BB Streets & Roads funds, respectively.
248
HOME Repayment
$13,283
Revenues and expenditures were under-budgeted.
Increase revenue and expenditure appropriations by $13,500.
279
Assessment Districts Admin
$14,207
Revenues collected from Assessment Districts have not kept up with the increase in cost allocation.
Increase transfer in from Bayport District 03-1 (Fund 278) by $14,500.
362
CFD 13-1 Alameda Landing
$97,000
A reimbursement payment of $250,000 was made to Catellus although only $150,000 was bu...
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