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File #: 20-479    Version: 1 Name: Proposed Budget Adjustments for CIP
Type: Staff Report Status: Filed
In control: City Council
Meeting Date: 11/2/2020 Final action: 11/2/2020
Enactment date: Enactment #:
Title: Staff Report for a City of San Leandro City Council Resolution to Amend the Adopted Fiscal Year 2020-21 Budget for General Fund and Capital Improvement Projects Fund Revenues and Expenditures
Sponsors: Susan Hsieh Finance Director
Attachments: 1. Exhibit 1 Transfers.pdf, 2. 10A CIP Adjustments
Title
Staff Report for a City of San Leandro City Council Resolution to Amend the Adopted Fiscal Year 2020-21 Budget for General Fund and Capital Improvement Projects Fund Revenues and Expenditures

Staffreport
SUMMARY AND RECOMMENDATIONS

Staff recommends the City Council approve the proposed budget amendments to the General Fund, Capital Improvement Project (CIP) Fund, and certain capital projects for Fiscal Year (FY) 2020-2021.

BACKGROUND

The COVID-19 pandemic has had significant financial impacts on cities across the nation. The length and depth of its affects remain unknown. A prolonged economic downturn will continue to impact General Fund revenues and the City's essential services and programs. To ensure the City's fiscal health and sustain vital services, the City amended the biennial budget in June 2020 to reflect projected revenue losses resulted from the pandemic. In addition, the City implemented a number of measures to control costs such as a selective hiring freeze and reductions to contributions to capital projects to preserve cash.

ANALYSIS

Following the budget amendment in June 2020, staff continued to identify strategies to reduce the projected budget deficit for Fiscal Year 2020-21. In July 2020, staff sought feedback and direction from the Facilities & Transportation Committee and the Finance Committee regarding potential budget solutions. The General Fund makes significant annual contributions to the CIP Fund to support the City's infrastructure. Besides funding from the General Fund, a number of capital projects are supported by bond funds such as the Casa Peralta project and the Family Aquatic Center Competition Pool (Manor Pool) improvements. The potential budget solutions focused on the following key areas:

* Reduce General Fund support for certain projects and transfer unspent funds back to the General Fund;
* Swap General Fund money with bond fund money and defer some capital projects; and
* Use future Park Development...

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