Report to Mayor and City Council
Tuesday, June 16, 2020
Special Orders of the Day
SUBJECT:
Title
PUBLIC HEARING TO CONSIDER ADOPTION OF RESOLUTION NO. 20-089, ADOPTING THE FISCAL YEAR 2020-2021 ANNUAL BUDGET IN THE GENERAL FUND AND SPECIAL REVENUE FUNDS (CITY COUNCIL) CONSIDER RESOLUTION NO. 20-07-CSA, ADOPTING THE FISCAL YEAR 2020-2021 ANNUAL BUDGET FOR THE CARSON SUCCESSOR AGENCY (SUCCESSOR AGENCY) CONSIDER RESOLUTION NO. 20-06-CHA, ADOPTING THE FISCAL YEAR 2020-2021 ANNUAL BUDGET FOR THE CARSON HOUSING AUTHORITY (HOUSING AUTHORITY) CONSIDER RESOUTION NO. 20-097 APPROVING AND ADOPTING THE ANNUAL APPROPRIATIONS LIMIT FOR FISCAL YEAR 2020-2021 (CITY COUNCIL) AND APPROVAL OF THE 2020 CAPITAL IMPROVEMENT PLAN (CITY COUNCIL)
Body
I. SUMMARY
The City Council has held 3 budget workshops and provided direction to staff for the Fiscal Year 2020-2021 budget. The Public Hearing Notice was published on June 4th (Exhibit K), and the draft budget has been on file with the City Clerk's Office for public viewing since June 4th. The resolutions are ready for the City Council to consider adoption.
Finance staff is assuming a decrease to the City's projected revenues through the second quarter of Fiscal Year 2020-2021, with projected revenues of $85 million. The City Council is asked to consider the use of one-time funds in the amount of $2.1 million from the City's General Fund reserve. The General Fund balance is estimated to be $35 million at the end of Fiscal year 2020-2021; which is approximately $17.6 million above the policy reserve threshold of $17.4 million (20% of budgeted expenditures).
II. RECOMMENDATION
Recommendation
1. OPEN the public hearing, TAKE public testimony for the proposed Fiscal Year 2020-2021 budget, and CLOSE the public hearing.
2. WAIVE further reading and ADOPT Resolution No. 20-089, A RESOLUTION OF THE CITY OF CARSON CITY COUNCIL ADOPTING THE FISCAL YEAR 2020-2021 BUDGET IN THE GENERAL FUND AND SPECIAL REVENUE FUNDS (Exhibit A)
3. WAIVE...
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