Reso. No.
RESOLUTION NO. ________
A RESOLUTION OF THE COUNCIL OF THE CITY OF RICHMOND, CALIFORNIA, ADOPTING THE FISCAL YEAR 2021-22 YEAR-END BUDGET ADJUSTMENTS
WHEREAS, pursuant to Section 1(b) of Article IV of the Richmond City Charter the City Manager is required to prepare an annual budget for the review and approval by the City Council; and
WHEREAS, the City’s budget was originally adopted on June 29, 2021, and the revised Mid-Year Budget was adopted on March 22, 2022; and
WHEREAS, the City experienced economic changes since the budget was last adopted and needs to amend the budget to reflect these changes; and
WHEREAS, the City Council has approved Commitments and Assignments in the General Fund balance through resolutions 25-20, 78-21, and 126-21 to cover various expenditures; and
WHEREAS, the City experienced better than expected revenues and savings in the expenditures and the expenditures were covered from ongoing revenues; and
WHEREAS, the City Council reviewed the proposed year-end budget adjustments for the Fiscal Year 2021-22 and remaining balances on the fund balance assignments and commitments at a public meeting on November 22, 2022; and
NOW, THEREFORE, BE IT RESOLVED, that the Council of the City of Richmond, California hereby adopts the resolution to approve the proposed option 1 as per the table 1 or option 2 as per the table 2
Table 1: Option 1: Negative Cash Clearing and Administrative Budget Adjustment Line Items as Listed.
REF ORG OBJECT DESCRIPTION AMOUNT COMMENTS
Negative Cash Balances
1 01917090 Operating Transfer Out 3,489,599 Negative cash due to deficit spending 2 01917090 Operating Transfer Out 2,654,027 Fund 4006 Stormwater-To payback advance from Risk Management Fund 3 01917090 Operating Transfer Out 104,908 Various payroll expenditures that were not directly charged to the employee's Department. Staff recommendation is to clear the balance from FY21-22 Operating Surplus4 01917090 Admin Building from RHA 307,650 RHA debt reduction for fair market value of the admin building per repayment agreement dated 1/25/2022
Total General Fund Negative Cash Clearing 6,556,184
General Fund Administrative Budget Adjustments
5 01191021 Operating Transfer In (24,629) JAG grant correction 6 01917090 Operating Transfer Out 8,089 Bond Admin Costs 7 01917090 Kids First Initiative 129,172 Balance to make for 1% of total General Fund revenue transferred to department of Children and Youth per Charter Article XV
Total General Fund Administrative112,632
Grand Total General Fund 6,668,816
Non-General Fund Administrative Budget Adjustments
8 13371018 Kids First Initiative (129,172) Balance to make for 1% of total General Fund Revenue transferred to department of Children and Youth per Charter Article XV
9 15131131 Operating Transfer In (3,489,599) To cover negative cash due to deficit spending 10 40623431 Operating Transfer In (2,654,027) From General Fund to payback advance from fund 5001 - Risk Management 11 40623431 Operating Transfer Out 2,654,027 Payback advance from fund 5001-Risk Management 12 30111090 Operating Transfer In (8,089) Bond Admin Costs 13 45141191 Transfer in from GF for Building (307,650) RHA Debt Reduction for fair market value of the admin building per Repayment Agreement dated 1/25/2022
14 65115090 Operating Transfer In 1,868,008 Reversal of mid-year budget adjustment 15 50182316 Operating Transfer In (2,654,027) From fund 4006-Stormwater for advance paid back 16 69990090 Operating Transfer In (104,908) Various payroll expenditures that were not directly charged to the employee's Department17 21033131 Impact Fee Admin Fee 117 Impact Fee Admin Fee 18 21136031 Impact Fee Admin Fee 8,232 Impact Fee Admin Fee 19 21301022 Impact Fee Admin Fee 946 Impact Fee Admin Fee 20 21491021 Impact Fee Admin Fee 4,691 Impact Fee Admin Fee 21 21551051 Impact Fee Admin Fee 506 Impact Fee Admin Fee 22 21633131 Impact Fee Admin Fee 2,263 Impact Fee Admin Fee 23 21741055 Impact Fee Admin Fee 1,364 Impact Fee Admin Fee 24 21923431 Impact Fee Admin Fee 3,593 Impact Fee Admin Fee 25 22022031 Impact Fee Admin Fee 6,087 Impact Fee Admin Fee 26 15063619 Impact Fee Admin Fee (27,799) Impact Fee Admin Fee Total Non-General Fund (4,825,437)
Reso. No.
Table 2: Option 2: Negative Cash Clearing and Administrative Budget Adjustment Line Items as Listed.
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I certify that the foregoing resolution was passed and adopted by the City Council of the City of Richmond at a regular meeting thereof held November 22, 2022, by the following vote:
REF ORG OBJECT DESCRIPTION AMOUNT COMMENTS
Negative Cash Balances
1 01917090 Operating Transfer Out 1,163,200 Negative cash due to deficit spending 2 01917090 Operating Transfer Out 956,375 Fund 4006 Stormwater-To payback advance from Risk Management Fund 3 01917090 Operating Transfer Out 104,908 Various payroll expenditures that were not directly charged to the employee's Department. Staff recommendation is to clear the balance from FY21-22 Operating Surplus 4 01917090 Admin Building from RHA 307,650 RHA debt reduction for fair market value of the admin building per repayment agreement dated 1/25/2022
5 OPEB Trust 1,940,874 Additional operating surplus to OPEB trust Total General Fund Negative Cash Clearing 4,473,006
General Fund Administrative Budget Adjustments
6 01191021 Operating Transfer In (24,629) JAG grant correction 7 01917090 Operating Transfer Out 8,089 Bond Admin Costs 8 01917090 Kids First Initiative 129,172 Balance to make for 1% of total General Fund revenue transferred to department of Children and Youth per Charter Article XV
Total General Fund Administrative 112,632
Grand Total General Fund 4,585,638
Non-General Fund Administrative Budget Adjustments
9 13371018 Kids First Initiative (129,172) Balance to make for 1% of total General Fund Revenue transferred to department of Children and Youth per Charter Article XV
10 15131131 Operating Transfer In (1,163,200) To cover negative cash due to deficit spending 11 40623431 Operating Transfer In (956,375) From General Fund to payback advance from fund 5001 - Risk Management 12 40623431 Operating Transfer Out 956,375 Payback advance from fund 5001-Risk Management 13 30111090 Operating Transfer In (8,089) Bond Admin Costs 14 45141191 Transfer in from GF for
Building
(307,650) RHA Debt Reduction for fair market value of the admin building per Repayment Agreement dated 1/25/2022
15 65115090 Operating Transfer In 1,868,008 Reversal of mid-year budget adjustment 16 50182316 Operating Transfer In 956,375 From fund 4006-Stormwater for advance paid back 17 69990090 Operating Transfer In (104,908) Various payroll expenditures that were not directly charged to the employee's Department 18 21033131 Impact Fee Admin Fee 117 Impact Fee Admin Fee 19 21136031 Impact Fee Admin Fee 8,232 Impact Fee Admin Fee 20 21301022 Impact Fee Admin Fee 946 Impact Fee Admin Fee 21 21491021 Impact Fee Admin Fee 4,691 Impact Fee Admin Fee 22 21551051 Impact Fee Admin Fee 506 Impact Fee Admin Fee 23 21633131 Impact Fee Admin Fee 2,263 Impact Fee Admin Fee 24 21741055 Impact Fee Admin Fee 1,364 Impact Fee Admin Fee 25 21923431 Impact Fee Admin Fee 3,593 Impact Fee Admin Fee 26 22022031 Impact Fee Admin Fee 6,087 Impact Fee Admin Fee 27 15063619 Impact Fee Admin Fee (27,799) Impact Fee Admin Fee Total Non-General Fund 1,111,363