PREPARED BY: J. KELLY SESSIONS DATE OF MEETING: 06/18/18
SUBJECT:
TITLE
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN PABLO ADOPTING FY 2018/19 BUDGET ADJUSTMENTS TO YEAR TWO (2) OF THE FY 2018-2021 QUADRENNIAL BUDGET AND THE FY 2018/19 CIP BUDGET
Label
RECOMMENDATION
Recommendation
Adopt Resolution
BODY
COMPLIANCE STATEMENTS
FY 2015-17 Council Priority Workplan Compliance Statement
Budget Spending Controls (All), General Fund Reserves Protection / Fund Balance (City Council; City Manager) and Increase Financial Transparency (Finance) are all adopted policy items under the FY 2018-21 Council Priority Workplan, effective November 1, 2017.
CEQA Compliance Statement
This is not a project as defined by CEQA.
BACKGROUND
On June 19, 2017, the City Council adopted the FY 2018-21 Quadrennial Budget (Resolution 2017-123). This report will provide key information regarding proposed budgetary changes for Year 2 of the four-year budget (FY 2018/19). Per Municipal Code 3.04.270, mid-cycle budget amendments do not require a special published public notice or a public hearing.
The FY 2018-21 Quadrennial Budget is a four-year appropriation that is balanced in each of the separate fiscal years. At time of original adoption, Year 2 of the budget included total salary and benefits of $23.1 million and a service and supplies budget of $16.9 million for a total budget of $40.0 million.
FY 2018/19 Budget Requests
On the revenue side, Year 2 budget requests include $300,000 in revenue from fund balance in General Fund Designated Reserves as approved by City Council on May 5, 2018 per Resolution 2018-067. This revenue is intended to replace the $300,000 in unrealized revenue that was originally budgeted for use in FY 2018/19 from the sale of the parking lot at Doctors Medical Center.
On the expenditure side, the Year 2 budget request is budget neutral in that all requests for adjustments contain their own funding source from previously budgeted funds. The t...
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