HomeMy WebLinkAboutReso 59-21 Adopted Budget CorrectionsRESOLUTION NO, 59-21
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA,
APPROVING FISCAL YEAR 2021/22 ADOPTED BUDGET CORRECTIONS
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, on June 22, 2021, Council adopted the City of Morro Bay FY 2021/22 Operating
and Capital Budgets, including a list of changes from the Proposed Budget reviewed in May Changes
were outlined and approved in Resolution No. 43-21; and
WHEREAS, in compiling the final Adopted Budget book and uploading the budget into the
City's financial system, staff discovered a handful of corrections that are required in order to ensure
consistency and accuracy throughout the budget document and implement Council's intended
direction; and
WHEREAS, while these corrections will result in increases to both Citywide revenue and
expenditure budget totals, including corrected amounts of $152,291,874 and $149,863,596,
respectively, the changes are largely offsetting (correctly recognizing capital expenditures and
associated interfund transfers).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay,
California,
1. The operating budgets of the City are amended as shown on the attached Exhibit A,
to finalize the Fiscal Year 2021/22 Adopted Budget.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular meeting
thereof held on the 24th day of August 2021, by the following vote:
AYES* Headding, Addis, Barton, Heller
NOES' None
ABSENT: None
ABSTAIN: None
JOHN
ATTEST:
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DANA SW SON. City y Clerk
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Reduction in anticipated loan disbursements associated with WRF-
related legal costs (budget was reduced in project detail on pg 1-86
but not in revenue summary on pg B-4)
Increase in Sewer Capital Non-WRF transfers in to align with Water
Capital Projects total budget on page 1-6
Increase in Water Capital Non-WRF transfers in to align with Water
Capital Projects total budget on page 1-6
Reduction in Sewer Capital non-WRF transfers in (estimated actual
was inadvertently carried over into CIP expenditure line and
therefore revenue/transfer in line)
Reduction in Water Capital non-WRF transfers in (estimated actual
was inadvertently carried over into CIP expenditure line and
therefore revenue/transfer in line)
Description
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WRF Litigation in total Revenues page (CIP), It was footnoted on
pages H-20 and H-31 but was not included in total WRF Capital Detail
Increase in Sewer Capital Non-WRF expenditures to align with Water
Capital Projects total budget on page 1-6
Increase in Water Capital Non-WRF expenditures to align with Water
Capital Projects total budget on page 1-6. This number was
incorrectly listed as an operating expenditure on page B-6, and
should be reflected as a transfer out.
Reduction in Sewer Capital non-WRF expenditures (estimated actuals
were inadvertently carried over into FY 21/22 CIP expenditure
budget line)
Reduction in Water Capital non-WRF expenditures (estimated actual
from prior year was inadvertently carried over into FY 21/22 CIP
expenditure budget line)
Description
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Assessment Fund: North Point Maintenance District. Revenues were
double -entered; reduce duplication.
Assessment Fund: Public Education Government Channel, (PEG).
Revenues were double -entered; reduce duplication.
Economic Development Fund: PGE Diablo Closure Funds. Revenues
were double -entered; reduce duplication.
General Fund: Cannabis fee revenue that was inadvertently omitted
from General Fund revenue total
Description 1
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Risk Mgmt Fund: Corrects error in Risk Management fund salaries
(no increase to existing staffing levels)
Meausre Q&E Fund: Other Post Employment Benefits (OPEB) cost
was omitted (for employees in that fund)
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