Attachment 1 – Unspent Funds Resolution
Reso. No.
RESOLUTION NO. ________
A RESOLUTION OF THE COUNCIL OF THE CITY OF RICHMOND, CALIFORNIA, TO APPROPRIATE REMAINING GENERAL FUND FISCAL YEAR 2024-25 AUDITED UNSPENT FUNDS IN FISCAL YEAR 2025-26
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 24, 2024, and subsequently revised during the Mid-Budget Review on May 6, 2025; and
WHEREAS, the City experienced better than expected revenue and savings in expenditures resulting in General Fund unspent funds of $8,213,680; and
WHEREAS, the audited unspent funds result from the City maintaining a General Fund Reserve balance above the 21 percent minimum required under the City’s Reserve Policy; and
WHEREAS, during the FY 2025–26 Budget Development process, the City Council identified high-priority needs related to capital improvements, environmental monitoring, and long-term pension and OPEB obligations; and
WHEREAS, General Fund unspent funds were identified as sources to fund these expenditures; and
NOW, THEREFORE, BE IT RESOLVED, that the Council of the City of Richmond, California hereby adopts the resolution to appropriate and make commitment of General Fund funds as follows:
General Fund Appropriations
Fund FY 2025-26
General Fund - Transfers Out to General Capital 6,570,944 General Fund – Other Post Employment (OPEB) Section 115 Trust 821,368 Total 7,392,312
Fund FY 2025-26
General Capital Fund – Transfers In (6,570,944)
General Capital Fund – Complete Streets Improvements (Pavement Management, Streetscape Improvements, etc.) 6,320,944
General Capital Fund – Pointe Molate Annual Monitoring 250,000 Total -
General Fund Commitments
Fund FY 2025-26
General Fund – Pension Section 115 Trust 821,368
Total 821,368
Attachment 1 – Unspent Funds Resolution
Reso. No.
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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 March 3, 2026, by the following vote:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
______________________________
City Clerk of the City of Richmond
(SEAL)
Approved:
__________________________________
Mayor
Approved as to form:
___________________________________
City Attorney