PREPARED BY: ARTURO CASTILLO DATE OF MEETING: 07/07/2025
SUBJECT:
TITLE
CONSIDER ADOPTING RESOLUTION APPROVING AMENDMENT NO. 4 TO THE GENERAL FUND DESIGNATED RESERVES (GFDR) FUND BALANCE FOR A TOTAL FUND BALANCE OF $6,655,065 FOR FY 2024-25 TO CITY COUNCIL APPROVED APPROPRIATIONS THROUGH JUNE 30, 2025, EFFECTIVE JULY 7, 2025
CEQA: This proposed action is not a project as defined by CEQA.
Label
CITY MANAGER RECOMMENDATION
Recommendation
Adopt Resolution
BODY
Council Priority Workplan Compliance Statement:
Continue Fiscal Resilience, Fiscal Excellence and Fiscal Transparency is an adopted City Council Priority contained in the adopted Fiscal Year 2025-2027 City Council Priority Workplan, effective April 7, 2025
BACKGROUND
On January 16, 2024, the City's FY 2023-24 General Fund Designated Reserves (GFDR) Fund Balance Amendment No. 4 was approved, which reflected all City Council approved allocations totaling $7,606,461 through December 31, 2023, previously adopted via Resolution 2023-165 on December 13, 2023.
Initially, the FY 2023-24 GFDR Fund Balance of $7,606,461 included projected proceeds from the sale of land, located on Vale Road from the Lytton Rancheria of California to the City of San Pablo in the amount of $3,050,000. However, on December 28, 2023, the actual sale proceeds received by the City following close of escrow was $3,045,137 resulting in a difference of $4,863, and leaving an adjusted remaining unappropriated GFDR balance of $5,393,923 (i.e., $5,398,786 less $4,863). Thereafter, the City Council approved Amendment No. 5 to the FY 2023-24 GFDR Fund Balance, accounting for all City Council-approved appropriations and the correct proceeds for the sale of land (via Resolution 2024-003 adopted on January 16, 2024), totaling the FY 2023-24 GFDR at $7,601,598.
Per FY 2024-25 Amendment No. 1. approved September 3, 2024, the following amounts totaling $2,430,319 were appropriated and expensed via City Council action (via adopted resolut...
Click here for full text