City Council

17. CONSIDER THE TRANSFER OF FUNDS FROM THE STATE AND LOCAL FISCAL RECOVERY\nFUNDS (SLFRF) FOR ELIGIBLE ESSENTIAL GOVERNMENT SERVICES OFFSETTING\nELIGIBLE GOVERNMENT SERVICE EXPENDITURES INCURRED BY THE GENERAL FUND\nFOR FISCAL YEARS 2023-2024 ($3,328,379) AND 2024-2025 ($1,441,863-PRIOR TO\nDECEMBER 31, 2024); APPROVE THE ACCOUNTING AND TRANSFERS NECESSARY TO\nUTILIZE GENERAL FUND SAVINGS AS A RESULT OF THE REVENUE REPLACEMENT\nUNDER SLFRF TO FUND ALREADY APPROVED CAPITAL PROJECTS AND OTHER USES IN\nTHE AMOUNT OF $2,093,888; AND ESTABLISH A SPECIAL PROJECTS FUND TO DEPOSIT\nTHE REMAINING GENERAL FUNDS SAVINGS ($2,676,355) FOR FUTURE USE AS\nAPPROVED BY THE CITY COUNCIL\nRecommendation\nIt is recommended that the City Council consider:\n1. Creating a Special Projects Fund 116 for General Fund savings generated as a\nresult of utilizing State and Local Fiscal Recovery Funds (SLRF); and\n2. Approving the transfer of approximately $3,328,379 from SLRF for eligible essential\ngovernment services under the SLFRF Final Rule for Fiscal Year 2023-2024,\noffsetting eligible government service expenditures incurred by the General Fund;\nand\n3. Approving the transfer of approximately $1,441,863 from SLRF for eligible essential\ngovernment services under the SLFRF Final Rule for Fiscal Year 2024-2025,\noffsetting eligible government service expenditures incurred by the General Fund;\nand\n4. Approving the necessary accounting and transfers to utilize the General Fund\nsavings to fund approved capital projects and other uses in an approximate amount\nof $2,093,888; and\n5\n5. Approving the necessary accounting and transfers to deposit the remaining General\nFund savings into the Special Projects Fund 116 for future use as approved by the\nCity Council, in the approximate amount of $2,676,355.