City Council

5. FISCAL YEAR (FY) 2022-23 YEAR-END REVIEW AND PRESENTATION OF THE\nCITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) (FINANCE)\nRECOMMENDATION: It is recommended that the City Council:\n1) Receive and file the City’s Annual Comprehensive Financial Report (ACFR) for\nthe Fiscal Year (FY) ending June 20, 2023, and related communications;\n2) Authorize the transfer of $25 million from the FY 2022-23 increase in available\nGeneral Fund balance to the following reserves and/or funds:\na. $7 million available balance to the Unfunded Liability Reserve for deposit into\nthe California Employer’s Pension Prefunding Trust (CEPPT)\nb. $6.75 million of available balance to the Capital Improvement Program (CIP)\nFund\nc. $4 million of available balance to the Equipment Replacement Fund\nd. $4 million of available balance to the Economic Contingency Reserve\ne. $3 million of available balance to the Employee Liability Fund for\nCompensated Absences liability\nf. $250,000 of available balance to the Renovation and Replacement Reserve\n3) Authorize the transfer of $466,000 for the FY 2022-23 increase in available Water\nFund balance to the Water CIP Reserve Fund.