City Council

15. FINANCE COMMITTEE: APPROVE THE COMMITMENT OF GENERAL FUND BALANCE FOR THE GENERAL FUND EMERGENCY CONTINGENCY COMMITMENT FOR $48,552,000 AND GENERAL FUND OPERATING RESERVE FOR $16,184,000 FOR FISCAL YEAR 2024 (Finance Dept.) Recommendation: It is recommended that the City Council: (1) Find that that the proposed action in the agenda report is not a “project” subject to the California Environmental Quality Act (CEQA) pursuant to State CEQA Guidelines Section 21065 and within the meaning 15378(b), and as such, no environmental document pursuant to CEQA is required; and (2) Adopt a resolution approving the City of Pasadena General Fund Emergency Contingency commitment of $48,552,000 and General Fund Operating Reserve commitment of up to $16,184,000 (with the final amount to be determined upon conclusion of Fiscal Year (FY) 2024 financial statement preparation based solely on General Fund sub-fund 101) from fund balance of the General Fund for FY 2024. RESOLUTION