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.