HomeMy WebLinkAboutReso 73-21 FY 2020-21 Year-End Budget AdjustmentsRESOLUTION NO. 73-21
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA,
APPROVING FISCAL YEAR 2020-21 YEAR-END BUDGET ADJUSTMENTS, PART I OF II
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, City staff is preparing year-end accounting entries to close out the City's Fiscal
Year 2020-21 financial records; and
WHEREAS, in preparing year-end accounting entries staff have identified budget adjustments
needed to ensure that the City ends the year consistent with Council's fiscal direction; and
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 by the additional revenues and
expenditures, as shown on the attached Exhibit A, to finalize Fiscal Year 2020-21
accounting records.
2. The changes in Exhibit A are Part 1 of 2 of year-end adjustments; a second resolution
will follow at a future meeting.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular meeting
thereof held on the 26th day of October 2021, by the following vote:
AYES. Headding, Addis, Barton, Ford, Heller
NOES' None
ABSENT: None
ABSTAIN: None
c
JOHNIIHEADDING, " ayor
ATTEST:
DA-PIA SWANSON, City Clerk
Grand Total: Revenues and Transfers In
I6'86I'L6C'I
Grand Total: Expenditures and Transfers Out
Total Other Funds
CD
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c 7
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Capltii Ptigects Revenues 1
.T
0
0
CO
13801
3
[Gen Govt Capital Projects - Transfers from Special Revenue
0
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7
Charge Cloisters for CIP work completed
IMINIMP Purpose
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(Total Other Funds
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Capital Projects Expenditures
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3
7
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!Total Other Funds
1925
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Other Funds Revenues
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MI
3730
Triangle Lot Boat Storage Yard - Rental Income
(State Park Marina Fund - Harbor Leases
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Other Funds Expenditures
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Triangle Lot Boat Storage Yard - Labor Costs Applied
State Park Marina Contractual Services
Transfers Out (from Cloisters Accumulation Fund to CIP Fund)
Transfer to General Fund (from Cloisters Assessment Dist for cost alloc)
Transfer to Capital Improvement Fund (from Cloisters Assessment Dist)
North Point Park Fund - Regular Pay
Transfers Out to General Fund (from Opportunity Fund)
Special Safety Grants Fund (COPS) - spending down avail. fund balance
Transfer to General Fund (from Traffic Safety Fund)
[Street Maintenance Transfer to General Fund
Transfer to General Fund (from State Gas Tax Fund)
Transfer to General Fund (From MBTBID Fund for mint. Per 3-23-21 SR)
Transfers Out (to Gen Fund due to Admin fees collected)
ICompensabie Leave Fund - Other Pay
0
ro
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n
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rr
0
7
To cover costs over budget (rev offset)
To cover costs over budget (rev offset)
To cover CIP expend. In FY 20-21
To budget in correct account
To budget In correct account
To fund staff costs higher than budget
To close out fund
To cover costs over budget
To recognize funds received
To budget In correct account
To recognize funds received
Implement Council direction 3/23/21
To recognize higher revenues xfred
Recognize pmt to employees leaving
Purpose
237,664.461
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Total Other Funds
1953
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Enterprise Funds Revenues
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[Transfer In from Harbor Ops Fund (to Harbor Accumulation Fund)
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Transfer excess cash from 8479
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ITotal Other Funds
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Enterprise Funds Expenditures
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[Transfer Out to Harbor Accumulation Fund (from Harbor Operating)
Description
Transfer excess cash from 8479
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44,750.541
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!Total General Fund
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General Fund Revenues I
7710
7710 I
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3820 I
3820
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ITransfer from Special Revenue Funds (Opportunity Fund)
Transfer from Special Revenue Funds (State Gas Tax)
Transfer from Special Revenue Funds (MBTBID)
Transfer from Special Revenue Funds (MBTBID admln funds)
'Transfer from Special Revenue Funds (Traffic Safety)
Transit Occupancy Tax
O
n
in
n
'O
O
7
To close out fund
To recognize add! funds received
Council direction 3/23/21
To recognize higher revenues transferred
To recognize addl funds received
Recognize higher than budgeted revenues
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General Fund Expenditures
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General Uabllity Insurance
General Fund Other Post Employment Benefits - Cost Increase
0
CD
LI
n
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rt
0
7
'Fully cover cost of Insurance to GF
To Fund OPEB UAL per GASB 75
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