Resolution 2024-XXXX Page 1
RESOLUTION 2024-XXX
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN PABLO APPROVING AMENDMENT NO. 1 TO THE GENERAL FUND DESIGNATED RESERVES (GFDR) FUND BALANCE OF $5,171,279 FOR FISCAL YEAR 2024 -25 TO REFLECT ALL
COUNCIL APPROVED APPROPRIATIONS AND REMAINING BALANCE THROUGH JUNE 30, 2024, EFFECTIVE SEPTEMBER 3, 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, on December 13, 2023, the City Council adopted Resolution 2023 -165 approving the General Fund Designated Reserves (GFDR) total fund balance of $7,606,461 for FY 2023-24, effective December 31, 2023;
WHEREAS, the FY 2023 -24 GFDR Fund Balance of $7,606,461 (adopted via Resolution 2023-165 on December 13, 2023) included projected proceeds from the sale of land, located on Vale Road, from the Lytton Rancheria of California to the City of San Pablo in the amount of $3,050,000;
WHEREAS, on December 28, 2023, the actual sale proceeds received by the City following close of escrow was $3,045,137 resulting to a differenc e of ($4,863), leaving an adjusted remaining unappropriated GFDR balance of $5,393,923 (i.e. $5,398,786 less $4,863);
WHEREAS, the City Council previously approved Amendment No. 5 to the FY 2023- 24 GFDR Fund Balance , accounting for all City Council -approved appropriations and the correct proceeds for the sale of land, and allocating $7,601,598 in total GFDR fund balance (adopted via Resolution 2024-003 on January 16, 2024);
WHEREAS, during the FY 2023 -24 period, a total of $2, 430,319 has been appropriated and expensed since January 16, 2024 , via adopted City Council resolutions, resulting in a remaining FY 2023-24 GFDR Fund Balance of $5,171,279; and
WHEREAS, on May 20, 2024, o ne-time budget balancing measure s totaling $5,000,000 were required to be allocated and included in the adopted two-year FY 2025-26 GF Operating Budget, which includes the following new FY 2023-24 GFDR allocations, and adjusted GFDR Balance for period ending June 30, 2024, as follows:
1. GFDR allocation in the amount of $1,961,291 for FY 2024 -25 One -time Budget Balancing Measure.
2. GFDR allocation in the amount of $3,038,709 for FY 2025 -26 One -time Budget Balancing Measure.
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Resolution 2024-XXXX Page 2
Total GFDR Allocation for One-Time Budget Balancing for FY 2025-26: $5,000,000
NOW, THEREFORE, BE IT RESOLVED that the foregoing recitations are true and correct and are included herein by reference as findings; and
BE IT FURTHER RESOLVED that the City Council of the City of San Pablo approves Amendment No. 1 to the General Fund Designated Reserves Fund Balance, with a total balance of $5,171,279 through June 30, 2024, and updated for Fiscal Year 202 4-25, effective September 3, 2024, as shown below:
CITY OF SAN PABLO
GENERAL FUND DESIGNATED RESERVE (GFDR) FUND BALANCE
PROPOSED FY 2024-25 (AMENDMENT 1)
September 3, 2024
DESCRIPTION
FY2024-25
Proposed
Amendment # 1
FY 23-24 GFDR Carryover Balance (See Details Below) $ 5,171,279 Total GFDR Fund Balance $ 5,171,279
GFDR FUNDING USES
Major Operating Contingencies
FY 2024-25 One-time Budget Balancing Measure (Reso No. #2024-064) $ 1,961,291 FY 2025-26 One-time Budget Balancing Measure (Reso No. #2024-064) $ 3,038,709 Subtotal - Operating Contingencies $ 5,000,000 Total GFDR Allocations $ 5,000,000
NET AVAILABLE FY 24-25 GFDR $ 171,279
Details of FY 23-24 GFDR Carryover Balance
Future One-Time Budget Balancing Measures (2025-2026) $ 5,171,279 FY 23-24 GFDR Carryover Balance $ 5,171,279
Resolution 2024-XXXX Page 3
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ADOPTED this 3rd day of September 2024, by the following votes:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ABSTAIN: COUNCILMEMBERS:
ATTEST: APPROVED:
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Dorothy Gantt, City Clerk Patricia Ponce, Mayor