CITY OF SAN MATEO
RESOLUTION NO. ____ (2025)
APPROVING YEAR-END BUDGET ADJUSTMENTS FOR FISCAL YEAR 2024-25 WHEREAS, as part of the City’s annual year-end financial close process, staff reviews all funds and departments to identify any necessary budget adjustments to ensure the City remains in compliance with legal spending limits; and
WHEREAS, this year-end review has identified several supplemental budget adjustments required to align budgeted appropriations with actual expenditures and interfund transfers for Fiscal Year 2024-25; and WHEREAS, the proposed adjustments include appropriations and transfers necessary to reflect actual operational needs, address unanticipated expenditures, and ensure budgetary compliance at year-end;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN MATEO, CALIFORNIA HEREBY FINDS AND RESOLVES that:
1. This City Council action is not subject to CEQA review because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4)).
2. The following budget appropriation and interfund transfer for fiscal year 2024-25 are approved:
a) Increase the supplemental appropriation for the Comprehensive General Liability Internal Service Fund by $600,000 to cover legal costs related to claims and litigation activities. b) Approve an interfund transfer of $278,000 from the Construction Service Fund to the General Fund to recover overhead costs for staff time spent on development projects.