City Council

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