Laserfiche WebLink
REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />DECEMBER 20, 2016 <br />TITLE: <br />ADOPT THE FISCAL YEAR 2015-16 <br />SURPLUS ALLOCATION PLAN AND <br />APPROVE APPROPRIATION ADJUSTMENT <br />(STRATEGIC PLAN NOS. 1, 1; 2, 1, 2) <br />L4' r <br />CITY NJACjER <br />BACKGROUND <br />CLERK OF COUNCIL USE ONLY: <br />® As Recommended <br />© As Amended <br />® Ordinance on 1" Reading <br />0 Ordinance on 211 Reading <br />El Implementing Resolution <br />0 Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />It is important to provide background prior to staff recommendations, given the significance of the <br />Triple Flip Sales Tax revenue in the amount of $5,600,000. During the June 21, 2016 City Council <br />Meeting, staff provided a projected fiscal year 2015-16 General Fund Surplus range of $1,500,000 <br />to $3,500,000. This projected range has remained unchanged and was on target with a final <br />balance of $3,500,000. However, the City later received communication from the State of California <br />that they were issuing the final true -up payment from the Triple Flip Sales Tax program, totaling <br />$5,600,000. Although payment was received in July 2016, the timing of the receipt of the revenue <br />was required to be accrued back to fiscal year 2015-16. As a result, the combination of the initial <br />projected Surplus and receipt of the true -up from the Sales Tax Triple Flip increased the final surplus <br />amount to $9,100,000. <br />The completion of the City's financial audit during December 2016, certified the General Fund's <br />Surplus for fiscal year 2015-16 in the amount of $9,100,000. Below is a summary of the <br />recommended actions proposed for the FY 2015-16 Surplus Allocation Plan. <br />Review and select an option for the Surplus Allocation Funds for Fiscal Year 2015-16 in <br />the amount of $2,620,000: <br />Option A: Public Safety and Neighborhood Improvement Committee recommended the <br />following initiatives, total of $2,620,000: <br />• Skate Park- $1,120,000 <br />• Park Development/ Joint Use - $1,500,000 <br />Option B: Enforcement and Neighborhood Public Safety Initiatives to be utilized for <br />various Police Department purchases total of $2,620,000 (Exhibit 1): <br />• Enforcement (reduction in crime, auto theft, domestic violence) <br />• Prevention <br />• Intervention <br />65F-1 <br />