HomeMy WebLinkAboutR-11251 approving the 2021-23 Financial Plan and Fiscal Year 2021-22 BudgetR 11251
RESOLUTION NO. 11251 (2021 SERIES)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, APPROVING THE 2021-23 FINANCIAL PLAN
AND FISCAL YEAR 2021-22 BUDGET
WHEREAS, in accordance with San Luis Obispo Charter Section 802, the City
Manager has submitted the 2021-23 Financial Plan to the Council for review and
consideration consistent with established budget and fiscal policies; and
WHEREAS, the preparation of the 2021-23 Financial Plan was based on extensive
public outreach, comment, and input and the City Council’s strategic vision as discussed
during public hearing for strategic budget direction on April 20, 2021; and
WHEREAS, the Planning Commission reviewed the City’s Capital Improvement
Plan for the 2021-23 Financial Plan on April 28, 2021, and confirmed the plan’s conformity
with the City’s General Plan.
WHEREAS, the City of San Luis Obispo received an Active Transportation Grant
just prior to the release of Strategic Budget Direction and ample time was not available to
integrate the grant funding into the financial plan or evaluate or integrate new projects;
WHEREAS, the City Council held a public hearing on June 1, 2021 to consider the
preliminary 2021-23 Financial Plan and Fiscal Year 2021-22 budget appropriations for
the General Fund, the Parking Fund, and the Transit Fund.
WHEREAS, the City entered into a loan agreement with the State Revolving Fund
for the upgrade of the Water Resource Recovery Facility, which requires the City to set
aside one full loan payment as a reserve fund and to restrict the funds for the duration of
the loan and the City will restrict the funds with the 2021-22 fiscal year.
WHEREAS, the City has been awarded $8.9 million in American Rescue Plan Act
(ARPA) funding, which is restricted for use for certain purposes and cannot be allocated
to payments towards pension liabilities.
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The 2021-23 Financial Plan and Fiscal Year 2021-22 budget with
appropriations consistent with the proposed capital improvement plan for the General
Fund, the Parking Fund and the Transit Fund are herewith adopted and official copies of
the financial plan, budget, and the capital improvement plan for all funds, as adopted,
shall be maintained on file with the City Clerk along with this Resolution.
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SECTION 2. The Water and Sewer Fund Fiscal Year 2021-22 budget
appropriation is deferred to June 15, 2021, when the Council will hold a public hearing
consistent with the applicable requirements of Proposition 218 for recommended water
and sewer fee increases.
SECTION 3. Staff is directed to return to the Council with project recommendations
and appropriation requests to further implement Tier 1 Active Transportation Plan projects
as result of Urban Greening Grant Funding for the Anholm Greenway Project.
SECTION 4. Fund balances and reserve levels will be applied in accordance with
GASB 54 and the City’s Fund Balance and Reserve Policy – Resolution No. 11250 (2021
Series).
SECTION 5. ARPA funding received by the City and expenditures thereof will be
separately tracked and accounted for to ensure allocation in accordance with the
requirements and limitations on expenditures of those funds as required by the Act.
SECTION 5. In compliance with the terms of the City’s loan agreement for the
State Revolving Fund loan for the upgrade of the Water Resource Recovery Facility, the
Finance Director is directed to restrict in a State Revolving Fund Loan reserve account
the amount of $5,902,953 from the Sewer Fund working capital and to maintain that
restricted reserve amount in the reserve fund account for the duration of the State
Revolving Fund loan to the City.
SECTION 6. The City Manager is hereby delegated authority to approve budget
adjustments consistent with the adopted budget appropriations to maintain budgetary
flexibility for the organization.
SECTION 7. The City Manager is hereby delegated the authority to approve
format and typographical changes found within the 2021-23 Financial Plan as needed.
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SECTION 8. The City Council approves the appropriation limit as set forth on page
536 of the 2021-23 Financial Plan and 2021-22 Budget.
Upon motion of Council Member Christianson, seconded by Council Member
Pease, and on the following roll call vote:
AYES: Council Member Christianson, Marx, Pease, Vice Mayor Stewart,
and Mayor Harmon
NOES: None
ABSENT: None
The foregoing resolution was adopted this 1st day of June 2021.
______________________________
Mayor Heidi Harmon
ATTEST:
Teresa Purrington,
City Clerk
APPROVED:
J. Christine Dietrick,
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Luis Obispo, California, on ______________________.
________________________________
Teresa Purrington,
City Clerk
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6/8/2021 | 3:57 PM PDT