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File #: 2106-2019    Version: 1 Name:
Type: Consent Calendar Status: Passed
File created: 10/23/2019 In control: CITY COUNCIL
On agenda: 11/5/2019 Final action: 11/5/2019
Title: Fiscal Year 2019/20 Non-Recurring General Fund Budget Correction
Attachments: 1. ATCH 1 - Resolution

To:                     Honorable Mayor and Members of City Council

 

From:                     Bret Prebula, Finance Director

 

Prepared By:                     Jessie Gooch, Finance Analyst

                                          

TITLE:

Title

Fiscal Year 2019/20 Non-Recurring General Fund Budget Correction

 

LABEL

RECOMMENDED ACTION:
Recommendation

 

Adopt a resolution approving an amendment to the budget for the 2019/20 Fiscal Year to increase appropriations to the non-recurring General Fund budget in the amount of $300,000 based on developer fee revenue.

 

Body

DISCUSSION:

The adopted FY 2019/20 budget included $300,000 of estimated developer fee revenue in the Non-Recurring General Fund, but the matching expenditure budget of $300,000 was mistakenly left out of the budget. To correct the budget an increase in appropriations of $300,000 in the Non-Recurring General Fund is required.

 

FINANCIAL IMPACTS:

The recommended budget adjustment will increase Non-Recurring General Fund expenditures by $300,000. These expenditures are entirely offset by anticipated developer fee revenue that is already included in the budget.

 

CEQA:

The City Manager has determined that the Recommended Action described in this Agenda Report is not subject to CEQA, pursuant to CEQA Guidelines Section 15060(c).

 

DOCUMENTS ATTACHED:

ATCH 1 - Resolution

 

NOTIFICATION:

None