Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: {{section.number}}D
Yountville Town Council Staff Report
DATE: June 4, 2024
TO: Mayor and Town Council
FROM: Celia King, Administrative Service Director
PREPARED BY: Celia King, Administrative Service Director
RECOMMENDATION
Adopt Resolution Number 24-4272 approving budget adjustments in Fiscal Year 2023/2024 to Tallent Lane Private Road Benefit District Fund 95 for new Capital Project ST-0036 ($18,796), and to Mesa Court Drainage Benefit District Fund 96 for new Capital Project DF-0020 ($52,295).
DISCUSSION/BACKGROUND
At the May 21, 2024 Town Council meeting, Council approved Resolution Number 24-4264 to create Capital Improvement Project ST-0036 in Fiscal Year 2023/2024 for Tallent Lane Private Road Benefit District Final Roadway Improvements.
At the same meeting, the Town Council also approved Resolution Number 24-4265 to create Capital Improvement Project DF-0020 in Fiscal Year 2023/2024 for Mesa Court Drainage Benefit District Final Storm Drain Improvements.
The creation of these projects will enable the Town to expend the remaining balance within these funds that have been open since 1989, then close out the fund and terminate the fee.
Staff recommends that the Town Council approve a budget adjustment in Fiscal Year 2023/2024 in the amount of $18,796 to Tallent Lane Private Road Benefit District Fund 95 for Project ST-0036. This amount includes the fees previously collected into the fund, as well as a small amount of interest income that has been allocated to the fund over the years.
Staff also recommends that the Town Council approve a budget adjustment in Fiscal Year 2023/2024 in the amount of $52,295 to Mesa Court Drainage Benefit District Fund 96 for Project DF-0020. This amount includes the fees previously collected into the fund, as well as a small amount of interest income that has been allocated to the fund over the years.
Balance sheets from the Town’s financial software are included with this staff report to support the current fund balances that are reflected in the budget adjustment requests.
ENVIRONMENTAL REVIEW
Not Applicable
FISCAL IMPACT
Is there a Fiscal Impact? Yes
Is it Currently Budgeted? No
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Discretionary
Is there a Staff Resource Impact? Nominal
STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.
Briefly Explain Relationship to Strategic Plan Goal and Objective. Approving budget adjustments in the current Fiscal Year (2023/2024) to fund these two established projects allows the Town to use the revenues collected for their intended purposes.