TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Robert Barron, Chief Financial Officer
SUBJECT:
title
Transfer of FY 2020 General Fund budget appropriations.
Ward(s): All Wards
Councilor(s): All Councilors
Neighborhood(s): All Neighborhoods
Result Area(s): Good Governance; Natural Environment Stewardship; Safe Community; Safe, Reliable and Efficient Infrastructure; Strong and Diverse Economy; Welcoming and Livable Community.
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ISSUE:
Shall the City Council adopt Resolution No. 2020-24, authorizing a transfer of appropriations within the City budget in order to address unforeseen changes?
RECOMMENDATION:
recommendation
Adopt Resolution No. 2020-24, authorizing a transfer of appropriations within the City budget in order to address unforeseen changes.
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SUMMARY:
State law allows the City Council to approve transfers of appropriations within the limits established by the adopted budget to address unforeseen changes.
Resolution No. 2020-24 transfers a total of $299,000 within the FY 2020 budget.
FACTS AND FINDINGS:
General Fund rental and crisis assistance to small businesses and cultural and heritage organizations
Fund 101, General Fund, Non Departmental
From: Non Departmental, Contingency, 101-60961000-61110, $299,000
To: Non Departmental, Materials and Services, 101-60961000-54850, $299,000
The City was granted additional Community Development Block Grant (CDBG) funding through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This funding can be used for General Fund grant applications that qualify for the CDBG funds. The General Fund allocation for social service grants can then be repurposed. The proposed grants could provide rental and crisis assistance to small businesses and cultural and heritage organizations. In order to open the grant application process now, budget authority is required. The majority of the payments will likely not occur until FY 2021.
Josh Eggleston
Budget Officer
Attachments:
1. Resolution No. 2020-24