File #: 21-0920    Version: 1
Type: Item(s) for Discussion
In control: Council Budget/Finance/Economic Development Committee
Final action:
Title: DISCUSSION - USE OF UNSPENT FUNDS FROM THE PRIORITY 1 RESERVES

title

DISCUSSION - USE OF UNSPENT FUNDS FROM THE PRIORITY 1 RESERVES

 

recommended action

RECOMMENDATION

 

Discussion item only.

 

body

Summary

 

At the Council meeting on November 16, 2021, the City Council discussed Agenda Item 15.1 - Accept the Fiscal Year 2020-2021 Fourth Quarter Budget Status Update, Authorize Budget Amendments, and Make Allocations to General Fund Reserve, and reduced the funds allocated to the Reserve accounts by $10,200,000 for discussion by the Budget/Finance/Economic Council Committee. 

 

The committee will discuss the use of unspent funds from the following:

 

Priority 1 Reserves

Working Capital                     $5,000,000

Known Contingency                     $5,000,000

 

Program/Project Category

Pools                     $   200,000