REQUEST FOR CITY COUNCIL ACTION
DATE: 09/06/2023
TO: Honorable Mayor and City Council Members
FROM: Finance Department
SUBJECT:
Title
FISCAL YEAR 2023 YEAR-END BUDGETARY ADJUSTMENTS
End
EXECUTIVE SUMMARY:
This staff report asks the City Council to consider budgetary adjustments for Fiscal Year 2023, based on year-end results and staff recommendations for funding level changes. On a quarterly basis, staff presents an update to the City Council on the current fiscal year revenue and expenditures. As part of the process, departments review the operating and capital improvement project funding levels and provide recommendations for budgetary adjustments. The budgetary adjustments being considered happened after the Quarter 4 update to the City Council on August 2, 2023.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Authorize an appropriation in the amount of $14,215 to the Landscape Maintenance District (LMD) 84-2, Zone 20 Fund 470 to offset the overage due to first-year of grid pruning.
b. Authorize an appropriation in the amount of $2,013 to the Eagle Glen HOA Streetlight Fund 473 due to an increase in electric utility costs with Southern California Edison.
c. Authorize an appropriation in the amount of $25,023 to the Workers' Compensation Self Insurance Fund 683 due to an accrued invoice for Excess Workers' Compensation premiums.
Body
BACKGROUND & HISTORY:
On a quarterly basis, the Finance Department provides a budget update to the City Council. As part of the quarterly process, departments provide operating and CIP adjustments that need to be addressed in the fiscal year (FY). The Finance Department prepares a consolidated request for the City Council's consideration.
ANALYSIS:
Recommended Action a: Authorize an appropriation in the amount of $14,215 to the LMD 84-2 Zone 20, Fund 470 to offset the overage due to the first year of grid pruning
This overage was due to the trees in this LMD being trimmed in year one of t...
Click here for full text