REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Oliver Chi, City Manager
PREPARED BY: Dahle Bulosan, Chief Financial Officer
Subject:
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Adopt Resolution No. 2021-59 amending the Fiscal Year 2021/22 Budget to carry over unspent appropriations from Fiscal Year 2020/21 for the continuation of Capital Improvement Program (CIP) Projects
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Statement of Issue:
Certain Capital Improvement Program (CIP) projects that were budgeted in FY 2020/21 were not completed by the end of the fiscal year on June 30, 2021. To continue funding these projects, $21,692,325 of remaining unspent appropriations must be carried over into Fiscal Year 2021/22 to help ensure project completion.
Financial Impact:
The $21,692,325 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. 2021-59, "A Resolution of the City Council of the City of Huntington Beach Amending the Fiscal Year 2021/22 Budget to Carry Over Unspent Appropriations from Fiscal Year 2020/21", which incorporates and references the continuation of funding. Exhibit A lists individual capital improvement projects and their respective carryover amounts totaling $21,692,325.
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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 carryover appropriations into the following fiscal year in order to complete those previously approved and budgeted capital improvement projects.
The attached Resolution references Exhibit A: "Carryover of Projects from FY 2020/21 to FY 2021/22", totaling $21,692,325 across multiple Funds for the amounts necessary to continue work in FY 2021/22 on the v...
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