AGENDA TITLE:
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Adopt a Resolution Approving Final Budget Adjustments for Fiscal Year 2024-25 and Appropriating Funds ($665,508) (IS - BUD)
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MEETING DATE:
December 17, 2025
PREPARED BY:
Jennelle Baker, Budget Manager
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RECOMMENDED ACTION:
Adopt a Resolution Approving Final Budget Adjustments for Fiscal Year 2024-25 (FY 25) and Appropriating Funds in the amount of $665,508.
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BACKGROUND INFORMATION:
The year-end closing process for each fiscal year typically takes several months to finalize all expenditures and journal postings. During the closing process for FY 25, it was discovered that additional budgeted transfers and appropriations were needed for Streets, Water, Wastewater, General Fund Debt and Electric Utility Capital Funds.
Public Works Street Division required a transfer of $1,964,433.87 from the Streets Measure K fund (303) to the Streets Gas Tax fund (301) to clear a fund deficit. Measure K funds and Gas Tax funds are both unrestricted and allowable for operations. The expenses that caused the deficit were Streets-related operational activities only.
The Public Works Water and Wastewater Divisions needed transfers of $13,500,000 from the Wastewater operating fund (530) to the Wastewater Capital fund (531) and $1,750,000 from the Water operating fund (560) to the Water Capital fund (561). These transfers cover the FY 25 and estimated FY 26 Capital expenses approved by the Council for both enterprise funds. The plan to remedy these "catch-up" Capital transfers is to request the transfer of funds at the time of budget planning or when the Capital Improvement project is presented to Council for approval at a regular meeting.
The General Fund Misc. Debt Service Charges (40998100.75099) required a transfer of $650 from the Non-Departmental Misc. Contracts Services account (10095000.72499) due to the US Bank administrative charges being $650 higher than budgeted.
The Electric Utility (EU) capital program incl...
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