Title
Year-End Budget Results and Surplus Allocation
Recommendation
a) Determine this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because this action will not result in a physical change to the environment, directly or indirectly;
b) Approve the one-time waiver of policy elements C and D of City Council Policy F-5 - General Fund Surplus Utilization; and
c) Receive and file this report, and approve Budget Amendment No. 27-036, transferring the entire Fiscal Year 2025-26 unrestricted General Fund operating surplus of $27,419,988 from the General Fund to the Facilities Financial Plan Fund to be set aside for infrastructure or neighborhood capital improvements.