HomeMy WebLinkAbout65A - AA - UNCLAIMED FUNDSREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
JULY 16, 2019
TITLE:
CONSIDER AN APPROPRIATION
ADJUSTMENT TO APPROPRIATE
$399,606 OF NEW GENERAL FUND
MONEY FROM UNCLAIMED DEPOSITS
(STRATEGIC PLAN NO. 4,1)
l CITY MANAGER
CLERK OF COUNCIL USE ONLY:
❑ As Recommended
❑ As Amended
❑ Ordinance on 161 Reading
❑ Ordinance on 2nd Reading
❑ Implementing Resolution
❑ Set Public Hearing For
CONTINUED TO
FILE NUMBER
RECOMMENDED ACTION
Approve an Appropriation Adjustment of $399,606, to appropriate newly recognized General
Fund money in the service program(s) and amounts selected by City Council.
DISCUSSION
On July 2, 2019, the City Council approved the recognition of $399,606 of General Fund revenue
from unclaimed deposits. City Council directed staff to return with an appropriation adjustment to
spend the new revenue in FY19-20. One suggestion was to add budget for Youth Services.
During the City Council's budget discussions in May and June 2019, Councilmembers indicated a
desire to provide more funding for a variety of programs.
To facilitate flexibility for the City Council's spending plan, staff offers the following programs for
consideration of additional funding:
1. Quality of Life (QOLT) Services (Community Development Homeless Services 01118811-
62300);
2. New Hope Library preparation for grand re -opening (Library 01111150-62300);
3. Youth Educational Services (Recreation & Community Services Youth Programs
01113203-62300);and/or
4. Code Enforcement (Planning & Building Community Preservation 01116540-62300).
As an alternative action, the City Council could direct the Economic Development Infrastructure
Budget Technology (EDIBT) subcommittee to develop recommendations for appropriating the
$399,606 at its August 12, 2019 meeting.
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Appropriation Adjustment to Spend $399,606 of New General Fund Money
July 16, 2019
Page 2
STRATEGIC PLAN ALIGNMENT
Depending on the program(s) selected, approval of the appropriation may assist with one or more
of the following goals:
Goal #2, Objective 2 — Expand Youth Programming;
Goal #4, Objective 1 — Maintain a stable, efficient and transparent financial environment;
and/or
• Goal #5, Objective 4 — Support neighborhood vitality and livability.
FISCAL IMPACT
Recognition of the General Fund revenue from unclaimed deposits on July 2, 2019 increased the
estimated General Fund balance. Approving an Appropriation Adjustment to spend the newly
recognized revenue will reduce the estimated General Fund balance, resulting in an overall net
fiscal impact of zero. Staff will record the appropriations selected by City Council in the
accounts(s) noted above, as applicable.
Lt�� "
Ka h n Down , CPA
Executive Director
Finance and Management Services Agency
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