MEETING MINUTES OF EL SEGUNDO CITY COUNCIL SPECIAL SESSION BUDGET SESSION FY 2022-23
TUESDAY, MAY 3, 2022 - 3:00 PM
CALL TO ORDER - Mayor Boyles at 3:03 PM
ROLL CALL
Mayor Boyles Present
Mayor Pro Tem Pimentel Present
Council Member Pirsztuk - Present
Council Member Nicol - Present
Council Member Giroux - Present
PLEDGE OF ALLIGIANCE - Council Member Pirsztuk
PUBLIC COMMUNICATION - (Related to City Business Only - 5-minute limit per person, 30-minute limit total) None
STUDY SESSION OUTLINE:
Darrell George, Interim City Manager welcomed everyone to the meeting with an overview of the budget.
City Council to conduct a Budget Study Session and provide direction, as necessary.
1. Study Session Overview - Joe Lillio, Chief Financial Officer
2. Background Items - Joe Lillio, Chief Financial Officer A. FY 2021-2022 Budget Update - Joe Lillio, Chief Financial Officer
3. Proposed FY 2022-2023 Budget
A. City-wide Budget Summaries - Joe Lillio, Chief Financial Officer and other members of the Finance staff presented.
B. General Fund Estimated Revenues - by Source - Dino Marsocci, Treasury and Customer Services Manager
General Fund Proposed Appropriations - by Department - Joe Lillio, Chief Financial Officer and members of the Finance staff presented.
D. Capital Improvements Program (CIP) Update - briefly discussed Reserve Policies - Joe, Lillio, Chief Financial Officer Council discussed and agreed to a 20% General Fund Reserve along with exploring options to fund CIP (Capital Improvement Projects).
EL SEGUNDO CITY COUNCIL SPECIAL MEETING MINUTES
MAY 3, 2022
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Council consensus to fully fund Economic Uncertainty Reserve at $2 million (will require a transfer of $100,000 from unassigned General Fund Balance).
4. Next Steps
Council Consensus to participate in a second budget session on May 17, 2022 from 3:00 to 5:00 PM. All items on the agenda were not discussed.
ADJOURNMENT at 4:59 PM
Cracy Weaner
Tracy Weaver, City Clerk
EL SEGUNDO CITY COUNCIL SPECIAL MEETING MINUTES
MAY 3, 2022
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