Item 13 - FY 2023-24 Third Quarter Budget Report and Proposed Appropriation

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FY 2023-24 Third Quarter Budget Report and Proposed Appropriation Adjustments June 4, 2024 Page 7 Summary of Recommended General Fund Appropriation Adjustments Recall Election $(617,800) Vehicle Incentive Program $ 880,000 Orange County Fire Authority Contract $ 250,000 General Fund transfer to Civic Center Authority $ 582,400 Employee Negotiations unused amount $ 1,275,600 Appropriation for Investment Manager and Portfolio Services $25,000 Stores & Property Control Internal Service Fund Close -Out $850,000 Appropriate $1 million of savings for Dog Park $1,000,000 Reallocation from CDA to PWA for Dog Park, Net Zero Impact Net Impact of Proposed Appropriation Adjustments $ 1,730,800 Other Restricted Fund Adiustments The City received updated information after the Midyear Budget Report for various restricted funding sources such as federal monies available for multiple programs. Staff recommends adjustments to align restricted money appropriations with available balances and authorizations. • Approve two $490 appropriation adjustments aligning projected grant budgets for two Bristol Street Protected Bike Lane projects in the Measure M Street Construction (Fund 032) and Select Street Construction (Fund 059) Funds with actual award amounts. The amount listed on the original grant award letter did not match the amount on the actual grant award received. • Approve an appropriation adjustment recognizing $14,378 in the Department of Justice (DOJ) grant fund (12714002-52000), and appropriating the same amount to the Bulletproof Vest Grant expenditure account (12714411-63001) for expenditure in the current fiscal year. • Reimburse the Local Drainage Area II Fund (Fund 222), with $275,028 in funds that were incorrectly recorded to the Emergency & Health Grants Fund (Fund 122) in FY 2022-23. This adjustment was recommended by the City's Auditors as part of the Single Audit received and filed by City Council on May 7, 2024. • As stated in the General Fund section earlier in this report, Staff is recommending an appropriation adjustment to reduce the Civic Center Authority contribution by $582,400 to align it with the City's required contribution of $600,000 for FY2023-24 (Fund 074). • Two restricted fund adjustments are needed to formally fund the Dog Park Budget for District 4's Park Acquisition & Development Fund (Fund 314). The first is recognizing $131,422 in District 4 Acquisition & Development Fee revenue and the second is appropriating $400,000 in expenditures. Internal Service Fund Adjustments The Public Works Agency utilizes the services from the Solis Group (Solis) on every Capital Improvement Project to ensure that contractors adhere to the Community