Title
Adoption of Resolution Amending the Fiscal Year (FY) 2020-21 Budget and Authorizing the City Manager to Redistribute Budget Appropriations between Similar Capital Projects; and
Adoption of Resolution Amending the Salary Schedules for the Management and Confidential Employees Association (MCEA) and for Executive Management Employees (EXME) and Approving Workforce Changes for FY 2020-21. (Finance 2410) [Not heard on February 16, 2021]
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
This report provides a review and an update to the Fiscal Year (FY) 2020-21 budget and revenue and expenditure projections through June 30, 2021. Budget adjustments are proposed for the General Fund, special revenue funds, capital projects funds, enterprise funds, internal service funds, and trust/fiduciary funds. The proposed adjustments would increase the General Fund revenue projection by $966,000, from $102.9 million to $103.9 million, and increase the General Fund operating expenditure budget by $1,205,030, from $104.7 million to $105.9 million.
According to the City Council-approved Pension/OPEB funding policy based on prior year-end results, the proposed adjustments also include additional General Fund appropriations of $14.1 million for the pay down of Pension/OPEB unfunded liabilities.
For non-General Fund programs, staff project a net increase in revenues of approximately $1.8 million and propose an additional $3.3 million in expenditure appropriations.
To facilitate closeout of recurring capital projects, staff recommends authorizing the City Manager to redistribute budget appropriations of up to $75,000, or the City Manager's signing authority, between similar capital projects.
Further, staff recommends workforce changes, which include the re-classification of three positions, a title change and increase in salary for one classification and the extension of one limited-term position.
BACKGROUND
The City Council adopted the Bie...
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