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File #: 200232   
Type: New Business Status: Passed
Meeting Body: City Council
On agenda: 5/5/2020
Title: Fiscal Year 2019-20 General Operating Fund (GOF) Budget Status Update Report on the Impacts of COVID-19
Attachments: 1. Council Report

Title

Fiscal Year 2019-20 General Operating Fund (GOF) Budget Status Update Report on the Impacts of COVID-19

Recommended Action

1.                     Receive the Fiscal Year 2019-20 General Operating Fund Budget Status Update Report on the Impacts of COVID-19.

 

2.                     Approve reversal of a budgeted $3.0 million transfer from the General Operating Fund to the Capital Improvement Program Reserve in the Fiscal Year 2019-20 Adopted Budget in order to maintain a balanced budget in Fiscal Year 2019-20.  (Five votes required)

 

3.                     Approve the recommended framework for development of the Fiscal Year 2020-21 Operating Budget.

 

4.                     Direct staff to provide the City Council with quarterly budget updates in Fiscal Year 2020-21 to assess the potential ongoing financial impacts of COVID-19.