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Carryover of Unspent Amounts from FY 2022-23 to FY 2023-24 <br />September 19, 2023 <br />Page 2 <br />3 <br />7 <br />2 <br />5 <br />The General Fund comprises $52.5 million of the total $514.2 million in carryover <br />requests and the remainder is restricted funds. The General Fund carry-over amount <br />consist of capital projects, purchase of equipment, and one-time funding items. The list <br />includes the accounting unit, project description, status, and amount. All requests were <br />reviewed with City departments and analyzed to ensure the unspent budget is available <br />at the accounting unit and fund levels and the allocation is non-recurring. <br />The carry-over list does include several negative amounts. Our legal level of budgetary <br />compliance is by fund and department. These negative carryover amounts are <br />accompanied by positive carry-over amounts within the same fund and department. In <br />essence, these offsetting negative and positive amounts are being used to true-up the <br />budget between accounting units within a single department and fund to match <br />remaining available resources such as grants. <br />Each amount on the list includes the amount available one month after the end of FY <br />2022-23. Staff continued to pay FY 2022-23 invoices through the end of August and will <br />complete the reconciliation of accounts in October. The FY 2022-23 ledger will not be <br />final and closed until the financial statements have been audited in November. <br />Therefore, the requested carryovers are “maximum” amounts. The actual amounts <br />processed for carry-over will be limited to the available budget once the FY 2022-23 <br />ledger is closed. Carryovers are summarized by fund in Exhibit 2. Staff will update FY <br />2023-24 revenue estimates for reimbursement grants tied to carryover amounts to <br />reflect reimbursement timing. <br />FISCAL IMPACT <br />No fiscal impact is associated with the recommended actions to carry over unspent <br />appropriations. The previously authorized expenditures will be spent in a later period, <br />which only impacts the timing of cash flow. <br />EXHIBIT(S) <br />1. List of Requests to Carry Over Unspent Appropriations <br />2. List of Requests to Carry-Over Unspent Appropriations by Fund <br />Submitted By: Kathryn Downs, FMSA Executive Director <br />Approved By: Kristine Ridge, City Manager