REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Travis Hopkins, Acting City Manager
VIA: David Cain, Interim Chief Financial Officer
PREPARED BY: Serena Bubenheim, Assistant Chief Financial Officer
Subject:
title
Fiscal Year 2024/25 Mid-Year Budget Adjustments
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Statement of Issue:
The Finance Department has prepared a mid-year budget review for the fiscal year that began on July 1, 2024. In interfacing with operating departments, budgetary requests have been assessed across all City departments, and certain adjustments are being recommended based on available resources in the General Fund, through grants and/or restricted funds.
Financial Impact:
Fiscal Year 2024/25 Mid-Year Adjustments
1. General Fund (100) budget adjustments are requested as follows:
a. Fire Department - funding for Fire Strike team reimbursement costs ($1,200,000) offset with strike team reimbursement revenues for a net zero impact.
b. Fire Department - funding for emergency medical supplies and EMS billing costs ($291,000) offset with emergency medical services revenue for a net zero impact.
c. Fire Department - funding for additional costs associated with the City's participation in the Voluntary Rate Range Intergovernmental Transfer Program ($145,685) offset with reimbursement revenue for a net zero impact.
2. The Community & Library Services Department is requesting to close out the Park Acquisition & Development Fund 209 and transfer the remaining fund balance of $6,488 to the Park Development Impact Fee - Residential Fund 228.
3. The Community & Library Services Department is requesting to transfer capital improvement project funds budgeted in the Development Impact Fee - Residential Fund 228, for a net zero impact.
4. The Public Works Department is requesting Infrastructure Fund 314 funding for the Sports Complex driveway and parking lot ($30,000).
5. The Public Works Department is requesting funding in th...
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