REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Fred A. Wilson, City Manager
PREPARED BY: Gilbert Garcia, Chief Financial Officer
Subject:
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Adopt Resolution No. 2018-51 amending the Fiscal Year 2018/19 Budget to Carry Over Unspent Appropriations from Fiscal Year 2017/18 for the Continuation of Capital Improvement Program (CIP) Projects
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Statement of Issue:
Certain Capital Improvement Program (CIP) projects, previously budgeted, were not completed by June 30, 2018, the end of Fiscal Year (FY) 2017/18. To continue these projects, $27,088,797 of remaining unspent appropriations need to be carried over into Fiscal Year 2018/2019 to help ensure project completion.
Financial Impact:
The $27,088,797 of remaining unspent appropriations is detailed by each applicable Fund in the attached Exhibit A. There are sufficient fund balances and/or ongoing revenue in these funds to support the request.
Recommended Action:
recommendation
Adopt Resolution No. 2018-51, “A Resolution of the City Council of the City of Huntington Beach Amending the Fiscal Year 2018/19 Budget to Carry Over Unspent Appropriations from Fiscal Year 2017/18”, which incorporates and references the continuation of funding. Exhibit A lists individual capital improvement projects and their respective carry over amounts totaling $27,088,797.
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Alternative Action(s):
Do not approve the recommended action and direct staff accordingly.
Analysis:
Each fiscal year, there are budgeted capital projects that have not been completed by the close of the fiscal year. The City is required to carry over appropriations into the following fiscal year in order to complete those previously approved and budgeted capital improvement projects.
The attached Resolution references Exhibit A: “Carry Over of Projects from FY 2017/18 to FY 2018/19,” totaling $27,088,797 across multiple Funds for the amounts necessary to continue work in FY 2018/19 on the various capital projects underway from the previous fiscal year.
Attachment 2 “Analysis of Funding Sources for Carry Over Appropriations Fiscal Year 2018/19” provides the estimated fund balances for the various Funds after projected revenues, adopted budget appropriations and carry over appropriations are taken into consideration for FY 2018/19.
Environmental Status:
Not Applicable.
Strategic Plan Goal:
Strengthen economic and financial sustainability
Enhance and maintain infrastructure
Enhance and maintain public safety
Improve quality of life
Enhance and maintain city service delivery
Attachment(s):
1. Resolution No. 2018-51 “A Resolution of the City Council of the City of Huntington Beach Amending the Fiscal Year 2018/19 Budget to Carry Over Unspent Appropriations from Fiscal Year 2017/18” including Exhibit A.
2. Analysis of Funding Sources for Carry Over Appropriations Fiscal Year 2018/19.