Resolution 2024-003 Page 1
RESOLUTION 2024-003
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN PABLO APPROVING AMENDMENT # 5 TO THE GENERAL FUND DESIGNATED RESERVES (GFDR) FOR FISCAL YEAR 2023-24, EFFECTIVE JANUARY 16, 2024.
WHEREAS, “Continue Fiscal Resilience, Fiscal Excellence and Fiscal Transparency” is an adopted City Council Priority contained in the adopted Fiscal Year 2023 -2025 City Council Priority Workplan, effective May 1, 2023;
WHEREAS, the City Council formally adopted Resolution No. 2023-165 approving the General Fund Designated Reserves (GFDR) total fund balance of $7,606,461 for Fiscal Year (FY) 2023-24;
WHEREAS, o f the total $7,606,461 FY 23 -24 GFDR, $2,207,675 had been appropriated and expensed resulting in a remaining GFDR balance of $5,398,786;
WHEREAS, the adopted FY 2023-24 GFDR allocation of $7,606,461 via Resolution No. 2023-165 included projected proceeds from the sale of land located on Vale Road to the Lytton Rancheria of California in the amount of $3,050,000;
WHEREAS, the a ctual sale proceeds received on December 28, 2023, was $3,045,137 resulting to a difference of $4,863 and an adjusted remaining GFDR balance of $5,393,923 ($5,398,786 less $4,863);
WHEREAS, the proposed said Resolution approves Amendment #5 to the FY 2023- 24 GFDR Fund Balance which includes the following new GFDR allocations and adjusted GFDR Balance:
1. GFDR allocation in the amount of $55,000 for legal contract services with Civica and Telecom.
2. GFDR allocation in the amount of $60,000 for economic development master plan.
3. GFDR allocation of $5,278,923 to provide future one -time budget balancing measures for fiscal years 2025-2027.
4. Adjusted/actual sale proceeds from sale of land located on Vale Road in the amount of $3,045,923.
NOW, THEREFORE, BE IT RESOLVED that the foregoing recitations are true and correct and are included herein by reference as findings.
BE IT FURTHER RESOLVED that the City Council of the City of San Pablo approves Amendment #5 to the General Fund Designated Reserves with a total balance of $7,601,598 for Fiscal Year 2023-24, effective January 16, 2024, as shown below:
Resolution 2024-003 Page 2
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DESCRIPTION
FY2023-24
Proposed
Amendment # 5
FY 22-23 GFDR Carryover Balance (See Details Below) 2,296,411$ ACFR Adjustment Related to 2015 Bonds 2,260,050$
Sale Proceeds from PSA/Lytton Casino 3,045,137$
Total GFDR Balance 7,601,598$
GFDR FUNDING USES
Major Operating Contingencies
Section 115 Trust for Pension Liability with PARS 1,000,000$ Future One-Time Budget Balancing Measures (2025-2027) 5,278,923$ Subtotal - Operating Contingencies 6,278,923$
Future Capital Projects & Professional Services
Res 2023-129 (2600 Moraga Demo Contract w PARC Environmental) 1,199,035$ Res 2023-140 (PD Elevator Repair) 8,640$
Legal Contract Services -Civica & Telecom 55,000$
Economic Development Master Plan 60,000$
Subtotal - Capital Projects & Prof Services 1,322,675$
Total GFDR Uses & Allocations 7,601,598$
NET AVAILABLE FY 23-24 GFDR -$
Details of FY 22-23 GFDR Carryover Balance
ADA Compliance/Transition Plan (City-Wide) 100,000$
Drainage NPDES MRP Compliance Facilities Improvement 100,000$ Hillside Stabilization and Geotech Studies 100,000$
Gas Tax/RMRA General Fund Subsidy - Excess Appropriation 517,621$ City Facility Maintenance & One-Time Improvements 1,478,790$ FY 22-23 GFDR Carryover Balance 2,296,411$
CITY OF SAN PABLO
JANUARY 16, 2024
GENERAL FUND DESIGNATED RESERVE
PROPOSED AMENDMENT # 5
Resolution 2024-003 Page 3
ADOPTED this 16th day of January 2024, by the following votes:
AYES: COUNCILMEMBERS: Pineda, Xavier, Cruz and Ponce
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS: Pabon-Alvarado
ABSTAIN: COUNCILMEMBERS:
ATTEST: APPROVED:
/s/ Dorothy Gantt______ /s/ Patricia Ponce_____
Dorothy Gantt, City Clerk Patricia Ponce, Mayor