City Council

(18)\n13-1465-S1\nBUDGET AND FINANCE COMMITTEE REPORT relative to the\nAnnual Reserve Fund Loan Review.\nRecommendations for Council action, SUBJECT TO THE APPROVAL\nOF THE MAYOR:\n1. WRITE OFF $931,638.13 in Reserve Fund loans and advances\nlisted on Attachment 1 of the City Administrative Officer (CAO)\nreport dated June 30, 2025, attached to the Council file.\n2. INSTRUCT City departments with outstanding loans to work\nwith the special fund administrators and report to the CAO in 90\ndays on the status of loans listed on Attachment 1 of said CAO\nreport as requiring further analysis.\n3. INSTRUCT City departments to prioritize and expedite the\nsubmission of invoices to the appropriate City department(s) in\norder to recover Reserve Fund loans made for special fund\nexpenditures.\n4. AUTHORIZE the CAO to make technical corrections as\nnecessary to those transactions included in said CAO report to\nimplement the Mayor and City Council intentions.\nFiscal Impact Statement: The CAO reports that there is no General\nFund impact resulting from the actions recommended within said CAO\nreport, as the Fiscal Year 2024-25 and 2025-26 Budgets do not\nassume the repayment of these loans. In addition, these actions will\nnot impact the current status of the Reserve Fund.