City Council

8. \n2024-25 GENERAL FUND FINANCIAL UPDATE ( UNAUDITED)\nStaff recommends the City Council:\nA. Allocate $ 500,000 of the 2024-25 General Fund surplus to the City's\nOperating and Environmental Emergency Reserve, bringing the reserve\nbalance to $ 11,613,060 or thirty percent of estimated 2026-27 General Fund\noperating expenditures and transfers out;\nB. Allocate and appropriate $ 1,000,000 of the 2024-25 General Fund surplus\nfor an additional discretionary payment to CalPERS to pay down the\nunfunded liability on the City's employee pension plans;\nC. Allocate and appropriate $ 500,000 of the 2024-25 General Fund surplus\nfor a contribution to fund the City's Section 115 Pension Trust; and\nD. Allocate $ 1,879,060 or any remaining 2024-25 General Fund surplus\nafter completion of the annual audit to the City's Equipment and Facility\nRevolving Reserve.