TITLE
Recommendation to approve the budget appropriation adjustments for uses of Fiscal Year 17 Year-End surplus in the General Fund (GF) and Tidelands Operations Fund (TF 401). (Citywide)
DISCUSSION
On February 20, 2018, the City Council received and filed the Fiscal Year 2017 (FY 17) Year-End Budget Performance Report. This report identified recommended uses of funds available in the Tidelands Operations Fund (TF 401) and in the General Fund (GF), which included Measure A-related surplus funds. Fiscal Year 2018 (FY 18) budget adjustments, as outlined in the fiscal impact section, are requested to appropriate these uses. Attachment A provides a summary of the recommended uses of the surpluses included in the FY 17 Year-End Budget Performance Report.
This matter was reviewed by Deputy City Attorney Amy R. Webber on February 22, 2018.
TIMING CONSIDERATIONS
City Council action is requested on March 13, 2018, to enable the timely processing of budget adjustments that reflect the recommended use of FY 17 year-end surpluses.
FISCAL IMPACT
Appropriations Using FY 17 Year-End General Fund Surplus
In FY 17, the General Fund ended the fiscal year with an ending funds available of approximately $1.5 million. The following appropriation adjustments implement the recommended uses of the General Fund surplus as proposed in the FY 17 Year-End Budget Performance Report.
1. Increase appropriations in the General Fund (GF) in the Citywide Activities Department (XC) by $75,014 to implement the City Council’s policy to reserve 5 percent for unfunded liability, offset by FY 17 year-end surplus.
2. Increase appropriations in the General Fund (GF) in the Economic Development Department (ED) by $150,000 to assess the seismic conditions at the Community Hospital site, offset by FY 17 year-end surplus.
3. Increase appropriations in the General Fund (GF) in the Health and Human Services Department (HE) by $15,000 for the winter homeless shelter, offset by FY 17 year-end ...
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