title
UPDATE ON COUNCIL PRIORITY PROJECTS FUNDED IN FISCAL YEAR 2020-21 THROUGH FISCAL YEAR 2024-25
recommended action
RECOMMENDATION
Informational item only.
body
Summary
Over $78 million General Fund has been allocated to 87 Council Priority projects since Fiscal Year 2020-21. Attachment A is a report on these projects denoting the amount funded and project status.
Funding allocations were made as follows:
• At the Council meeting on November 17, 2020, the City Council reviewed the Fiscal Year 2019-20 Fourth Quarter Budget Status Update and approved the appropriation of $4.8 million for Council Priority Projects (Resolution 2020-11-17-1405).
• At the Council meeting on November 16, 2021, the City Council reviewed the Fiscal Year 2020-21 Fourth Quarter Budget Status Update and approved $12,662,000 from the General Fund balance for Council priority projects as outlined in Exhibit 1 within Resolution 2021-11-16-1501. In addition, City Council authorized a reserve for future appropriation of $10,200,000 from FY 2020-21 available funds for Council priority needs to be brought back to the City Council for allocation after review by the Council Budget/Finance/Economic Development Committee. The $10,200,000 was allocated to projects by Resolution 2022-05-03-0903.
• At the Council meeting on December 13, 2022, the City Council reviewed the Fiscal Year 2021-22 Fourth Quarter Budget Status Update and approved $5,667,000 in Council priority projects and authorized the reallocation of up to $440,000 in remaining balances from the FY 2021-22 Council priority projects to the FY 2022-23 Council priority projects. The $5,667,000 was allocated to projects by Resolution 2023-05-02-1502.
• At the Council meeting on January 23, 2024, the City Council reviewed the Fiscal Year 2022-23 Fourth Quarter Budget Status Update and approved $17,450,000 in Council priority projects (Resolution 2024-01-23-1501). In addition, City Council recommended $4,000,000 from FY 2022-23 available funds for Council priority needs be brought back to the City Council for allocation after review by the Council Budget/Finance/Economic Development Committee. $1,000,000 of the $4,000,000 was allocated to Navigation Center project by Motion 2024-05-21-1203. The remaining $3,000,000 was allocated to Council Priority Projects by Resolution 2024-07-09-1508.
• At the Council meeting on December 3, 2024, the City Council reviewed the Fiscal Year 2023-24 Fourth Quarter Budget Status Update and approved the appropriation of $20.2 million for Council Priority Projects by Resolution 2024-12-03-1504. In addition, City Council recommended $3,000,000 from FY 2023-24 available funds for Council priority to be brought back to the City Council for allocation after review by the Council Budget/Finance/Economic Development Committee. $2,000,000 of the $3,000,000 has been allocated to project by Resolution 2025-02-04-1213.
Upon completion of the Council Priority Projects some funds may be unspent. Per the annual budget resolution, if a balance remains in a completed capital project, up to $100,000 can be moved administratively to another capital project that has been authorized in the 5-Year Capital Improvement Plan. This authority is only applied as needed to quickly accommodate shortfalls such as bids coming in over the engineer’s estimate or a project requiring unanticipated work. Most of the time, following a project close out, any unspent funds are returned to the fund balance and used toward projects included in the Capital Improvement Plan and the Annual Budget approved by the City Council.
Attachment A - Council Priority Projects Funded in FY 2020-21 thru FY 2024-25 Status Report