GFDR: FY 2025-26 Amendment No. 1
ADMINISTRATIVE SERVICES - FINANCE
History:
General Fund Designated Revenue (GFDR) established in October 21, 2013, through the Fiscal Resiliency Reserve Policy via Resolution 2013-159.
GFDR was historically utilized to prefund large expenditures including but not limited to replacement of large capital equipment information technology systems facilities and infrastructure maintenance and replacement accrued employee leave costs PERS rate increases workers compensation costs general liability costs etc. and when such costs can be anticipated it makes prudent fiscal sense to identify a funding source and set aside funds.
FY 2024-25 GFDR Amendment No. 4.
DESCRIPTION
FY2024-25
Proposed
Amendment # 4
FY 23-24 GFDR Carryover Fund Balance (See Details Below) $ 5,171,279 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 Total GFDR Fund Balance FY 24/25 & FY 2025/26 $ 5,000,000 GFDR Net Fund Balance $ 171,279
GFDR FUNDING USES
Funding Sources:
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 FY2023-24 GFDR Net Fund Balance Carry Over $ 171,279
FY 2023-24 Undesignated Reserves: Reso 2024-123 $ 1,500,000 FY 2024-25 NEW FRRP Fund 110 - up to a maximum of 10% of Unused Audited Fund Balance $ 2,026,771 GFDR Fund Balance Subtotal: $ 8,698,050
Major Operating Expenses:
Reso 24-56 CORE Homeless Outreach Services $ 112,644
Reso 24-123 Ghilotti settlement agreement $ 1,500,000
Reso 25-032 EV Charging Hub Project $ 36,933
Reso 25-034 Tripepi Smith & Associates Marketing and Branding * $ 100,000 Reso 25-036 EV Hub Kittleson Associates Agreement $ 36,932 Reso 25-058 CORE Homeless Outreach Services $ 97,930
Reso 25-070 Eide Baily Finance Consultant Contract $ 100,000 Reso 25-069 EV Senior Center $ 40,478
Reso 25-086 & 25-087 SP Community Foundation Grants $ 55,000 Operating Expenses Subtotal: $ 2,079,917
GFDR FY 2024/25 NET FUND BALANCE $ 6,618,133
FY 2025-26 GFDR Amendment No. 1.
DESCRIPTION
FY2025-26
Proposed
Amendment # 1
FY 24-25 GFDR Carryover Fund Balance (See Details Below) $5,086,213 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 Total GFDR Fund Balance FY 24/25 & FY 2025/26 $5,000,000 GFDR Net Fund Balance $86,213
GFDR FUNDING USES
Funding Sources:
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 FY2024-25 GFDR Net Fund Balance Carry Over $86,213
FY 2025-26 NEW FRRP Fund 110 - up to a maximum of 10% of Unused Audited Fund Balance $1,836,566 GFDR Fund Balance Subtotal: $6,922,799
Major Operating Expenses:
Reso 25-034 Tripepi Smith & Associates Marketing and Branding $86,213 Operating Expenses Subtotal: $86,213
GFDR FY 2025/26 NET FUND BALANCE $6,836,566
RECOMMENDATION:
1. Receive Presentation; and
2. Proceed with Amendment No. 1 to the General Fund Designated Reserves (GFDR) Fund Balance for a total Fund Balance of $6,836,566 for FY 2025/26, effective January 20, 2026.
Thank you!
Questions & Comments?