Item 08 - Appropriation Adjustment to Carryover Unspent Amounts From Fiscal Year 2023-24

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Carry-Over of Unspent Amounts from FY 2023-24 to FY 2024-25 October 1, 2024 Page 2 4 5 8 4 Staff has compiled a list of carryover requests (Exhibit 1). These include items such as multi-year capital/grant projects, delayed purchases due to vendor availability issues, and various one-time projects approved for FY 2023-24 that were not completed by the fiscal year end on June 30, 2024. The most significant carryovers follow, which account for half of the total. •Safe Routes to Schools (Traffic Safety for School Children) $49.9M •Bristol Street Projects $37.8M •Main & Newhope Library Renovations $34.5M •Warner Avenue Improvements $30.7M •Swimming Pool & Facilities at Memorial Park $28.5M •Third & Broadway Development $13.0M •Santa Anita Park Improvements $9.1M •Centennial Park Improvements $8.5M •Zoo Improvements $8.5M See Exhibit 1 for detailed information regarding each of the requested carryover projects. This file lists the accounting unit, description, amount, project status, and estimated completion date. Because the City’s legal level of budgetary compliance is by fund and department, the attached carryover lists include several negative amounts. These negative carryover amounts are accompanied by positive carryover amounts within the same fund and department. Essentially, these offsetting negative and positive amounts are being used to align the budget between various accounting units within a single department and fund to match remaining available resources such as grants. Each amount on the list includes the amount available one month after the end of FY 23-24. Staff continued to pay FY 23-24 invoices through the end of August and will complete the reconciliation of accounts in October. The FY 23-24 ledger will not be final and closed until the financial statements have been audited in November. Therefore, the requested carryovers are “maximum” amounts. The actual amounts processed for carryover will be limited to the available budget once the FY 23-24 ledger is closed. Carryovers are summarized by fund in Exhibit 2. Staff will update FY 2024-25 revenue estimates for reimbursement grants tied to carryover amounts (i.e. CDBG) to reflect reimbursement timing. Carryover Type General Fund ARPA Restricted Total CIP 42,408,082$ 53,450,290$ 275,306,449$ 371,164,821$ Equipment 4,862,756$ 513,970$ 7,216,104$ 12,592,830$ All Other 19,345,368$ 5,624,838$ 33,995,540$ 58,965,746$ Total 66,616,206$ 59,589,098$ 316,518,093$ 442,723,397$