Title
RESOLUTION of the City of San Leandro City Council Accepting the 2021-2022 Mid-Year Financial Report as of December 31, 2021 and Approving the Second Quarter Budget Amendment for the 2021-2022 City Operating Budget
Body
WHEREAS, the City Council received and considered the 2021-2022 Mid-Year Financial Report as of December 31, 2021; and
WHEREAS, the City Council approves biennial budgets based on the best revenue and expenditure information available at the time budgets are prepared; and
WHEREAS, budget adjustments are periodically necessary for changes arising and requiring additional budget appropriations or re-appropriations between funds or budget line items; and
WHEREAS, the City Council adopted the 2020-2021 budget on June 28, 2021, and approved budget appropriations; as described in the associated staff report amending the budget is required at this time.
NOW, THEREFORE, the City of San Leandro City Council RESOLVES as follows:
• That the 2021-2022 City of San Leandro Budget is hereby amended as described on that certain document, and all attachments to that document, titled “Staff Report for Resolution Accepting 2021-2022 Mid-Year Financial Report as of December 31, 2021, and Approving the Second Quarter Budget Amendment to the City Operating Budget,” copies of which are attached hereto and incorporated herein by reference, and as shown on the Attachments to this Resolution, which are incorporated herewith and made a part hereof.
• That the City Manager is authorized to approve carryovers to fiscal year 2022-2023 if the proposed contributions to CalPERS ($3,000,000) and to the PARS Pension Trust ($608,500) are not transferred by June 30, 2022 due to market volatility.
• That the City Manager is authorized to transfer the remaining balance to CalPERS and PARS in fiscal year 2022-2023.