CC Resolution 12690 RESOLUTION NO. 12690
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
AUTHORIZING A MID-YEAR BUDGET ADJUSTMENT TO REFLECT CONSESUS
AREA REDUCTIONS FOR FISCAL YEAR 2021 BASED ON THE COUNCIL
MEETING OF FEBRUARY 16
WHEREAS, the City Council adopted an annual budget for the operation of all
municipal departments and facilities for Fiscal Year (FY) 2021 and a capital
improvement plan (CIP) for 2021-2025 on June 25, 2020; and
WHEREAS, at the February 16 and March 16, 2021 City Council meetings, staff
presented a Mid-Year Report on the City's General Fund revenues for FY 2021; and
WHEREAS, the economic impacts of COVID-19 continue to have significant and
prolonged impact on General Fund revenue sources in FY 2021 and beyond; and
WHEREAS, staff has provided Council with monthly updates on the economic impacts
of COVID-19 since August 2020; and
WHEREAS, staff projects that year-end General Fund revenues for FY 2021 will be less
than budget estimates by approximately$7,080,172; and
WHEREAS, staff has recommended a number of other budgetary corrective actions
that had consensus based on the Council meeting of February 16, 2021 and result in
total net benefits to the General Fund of$2,556,748 to partially offset projected revenue
losses in FY 2021; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Campbell
hereby authorizes Mid-Year General Fund Expenditure Budget Adjustments for other
budgetary corrective actions that had consensus for FY 2021 based on the Council
meeting of February 16, 2021 as shown in Exhibit A of this resolution and incorporated
by reference.
PASSED AND ADOPTED this 16th day of March 2021, by the following roll call vote:
AYES: COUNCILMEMBERS: Bybee, Landry, Lopez, Resnikoff, Gibbons
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
APPROVED:
h "Liz" Gi ns, Mayor
ATTEST: adok
Andrea San rs, Deputy City Clerk
Exhibit A
Of Attachment D
Consensus Area Reductions for FY 2021
Budget
Recommended Action - Action Type Fund GL Account Amount Adjustment Journal Entry
Total of Consensus Area Net Benefit to General Fund: $2,556,748
Transfer Excess Worker compensation(WC)to General Fund $1,077,138
Transfer Double-Counting of Current WC Liability Fund Balance Use General Fund 101.3676 (427,404) X
Transfer Double-Counting WC to Undesigned,Unreserved Fund Balance Fund Balance Use General Fund 101.3799 427,404 X
Transfer Excess from Workers Compensation Fund Transfer Out Workers Comp. 690.980.9899 649,734 X X
Transfer Excess WC Funds to General Fund Transfer In General Fund 101.980.6899 649,734 X X
Transfer Excess Corporation'Yard Sale-ProceedstoaGeneral Fund': $; 749151
Transfer Excess Corp Yard Proceeds from Capital Projects Fund Transfer Out Capital Projects 435.980.9899 749,151 X X
Transfer Excess Corp Yard Proceeds to General Fund Transfer In General Fund 101.980.6899 749,151 X X
Transfer Excess Corp Yard Proceeds Fund Balance Use Capital Projects 435.3679 (749,151) • X
Transfer Excess Corp Yard Proceeds to Undes.,Unreserved Fund Balance Fund Balance Use Capital Projects 435.3799 794,151 X
Transfer Excess CIP Project Funds back to General,Fund . ,a $_ 37,912
Transfer Excess CIP Allocations from Capital Projects Fund Transfer Out Capital Projects 435.980.9899 37,932 X X
Transfer Excess OP Allocations to General Fund Transfer In General Fund 101.980.6899 37,932 X X
Transfer of•Recreation Donation Fund,(794)to General Fund :154,770 _
Transfer Recreation Donations from Parks&Museum Fund Transfer Out Parks&Museum 794.980.9899 154,770 X X
Transfer Recreation Donations to General Fund Transfer In General Fund 101.980.6899 154,770 X X
CPOA/CPCEA Net savings:, _ $ 87,75E _..
CPCEA MOU Adjustment-September 2020 Cost Increase General Fund 101.602.7001 5,175 X
CPCEA MOU Adjustment-September 2020 Cost Increase General Fund 101.603.7001 8,893 X
CPCEA MOU Adjustment-September 2020 Cost Increase General Fund 101.604.7001 (439) X
CPCEA MOU Adjustment-September 2020 Cost Increase General Fund 101.605.7001 (1,092) X
Sub-Total CPCEA MOU Adjustment-September 2020 12,536
CPOA MOU Adjustment-January 2021 Cost Savings General Fund 101.604.7001 (27,452) X
CPOA MOU Adjustment-January 2021 Cost Savings General Fund 101.605.7001 (72,841) X
Sub-Total CPOA MOU Adjustment-January 2021 (100,293)
Savings fromrReduction'in Required OPEB Contributiona .; as aK$, 200,000 -
Reduce Budgeted OPEB Trust Contribution Cost Savings General Fund 101.540.7626 (200,000) X
Antic jpated CQUID 19;Related Sarongs $ 250,000
. :
Reduce Budgeted COVID-19 Response Funds Cost Savings General Fund 101.539.7427 (250,000)fiM X
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