Laserfiche WebLink
Receive and file the FY 2021-2022 General Fund - First Quarter Budget Update <br />January 18, 2022 <br />Page 2 <br />2 <br />3 <br />8 <br />5 <br />Pilot Graffiti Arts Program (GAP)$50,000 <br />Streetlights Allocation for Substantiated Requests $750,000 <br />Enhanced Library Services / Location $750,000 <br />Updated Proposed Appropriations – One-Time $26,205,000 <br />The remaining one-time money available for appropriation is $14,814,140 ($42,289,528, <br />less $26,205,000 recommended appropriations and $1,270,388 increase of 18% <br />Reserve). At this time, staff does not recommend any further appropriations of this one- <br />time funding source. <br />December 21 Proposed Appropriations – Recurring $3,066,900 <br />Juneteenth Celebration (increase from $50,000 to <br />$75,000) <br />$25,000 <br />City Events Budget (adjust the proposed increase from <br />$50,000 to $75,000 to accommodate additional events <br />such as Indigenous Peoples’ Day & Día de los Muertos) <br />$25,000 <br />Tree-Trimming Program $100,000 <br />Updated Proposed Appropriations – Recurring $3,216,900 <br />As reference, the staff report presented on December 21, 2021 is attached (Exhibit 4) <br />reflecting the original recommendations. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />If City Council approves the staff recommendation, the 18% Policy Reserve will increase <br />to an estimated $64,354,356 at June 30, 2022 and the remaining available balance for <br />one-time spending will be $14,814,140. FY21-22 recurring expenditures will increase by <br />$3,216,900 (with an annualized estimate of $6,358,800 for FY22-23). <br />Staff recommends the following appropriation adjustments, which incorporates the <br />recommendations from the December 21, 2021 staff report (Exhibit 4) and the updated <br />recommendations contained herein. <br />Adjustments for General Fund contributions to other funds: <br />Fiscal <br />Year <br />Accounting Unit - <br />Account # <br />Fund <br />Description <br />Accounting Unit, <br />Account <br />Description <br />Amount <br />FY 21-22 01106019-68000-XX General Fund Inter-Fund Transfers <br />Service <br />Enhancement, <br />Transfer Out <br />$10,800,000