Title
Fiscal Year 2020-21 Budget Update and Approving Use of an Equity Lens in the Fiscal Year 2021-22 Budget Development Process
Recommended Action
1. Receive the Fiscal Year 2020-21 First Quarter Budget Update.
2. Appropriate and authorize the use of up to $1.0 million in CARES Act revenues to be used for funding community needs such as additional rent relief, small business relief program, or other priorities as directed by the City Council. (Five votes required)
3. Authorize the Finance and Administrative Services Director to increase appropriations in the General Operating Fund up to the amount of Business License Tax revenue received in order to transfer 90.0 percent of the revenue generated from the restructured tax to the Transportation Reserve (80.0 percent) and the General Housing Fund (10.0 percent). (Five votes required)
4. Authorize the Finance and Administrative Services Director to increase appropriations in the VTA 2016 Measure B Sales Tax subfund up to the amount received and appropriated for capital projects. (Five votes required)
5. Approve the use of an equity lens as part of the Fiscal Year 2021-22 budget process.