To: Honorable Mayor and Members of City Council
From: Rick Tooker, Community Development Director
Prepared By: Stephanie Gaul, Management Analyst II
TITLE:
Title
Local Housing Fund Professional Services
LABEL
RECOMMENDED ACTION:
Recommendation
Adopt a resolution authorizing a budget adjustment for Local Housing Fund Professional Contract Services.
Body
DISCUSSION:
The Local Housing Fund is utilized for expenses related to the Housing Division that are not directly associated with State and federal funding sources. This includes some expenses related to homeless services. Due to a delayed billing, a contract for homeless services for Fiscal Year 2016-2017 was not paid until early in Fiscal Year 2017-2018. Because this invoice for the previous fiscal year was not paid until the current fiscal year, there is not sufficient budget to pay for the same contract for Fiscal Year 2017-2018.
The Local Housing Fund has an unreserved fund balance of $245,111. This agenda item would increase the professional services budget by $38,000.
FINANCIAL IMPACTS:
Approval of this item would authorize the budget adjustment in the amount of $38,000. The source of the funding is existing fund balance in the Local Housing Fund. The proposed budget adjustment is as follows:
Source:
Local Housing Fund, Fund Balance $38,000
Use:
84601-53201 $38,000
CEQA:
The Community Development Director has determined that the Recommended Action described in this Agenda Report is not subject to California Environmental Quality Act (CEQA), pursuant to CEQA Guidelines Section 15060(c).
DOCUMENTS ATTACHED:
ATCH 1 - Resolution
NOTIFICATION:
None