HomeMy Public PortalAbout2016.049 (02-23-16)RESOLUTION NO. 2016.049
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD RECEIVING
AND FILING THE FY 2015 -16 MID -YEAR FINANCIAL REVIEW REPORT, AND
APPROVING THE FY 2015 -16 MID -YEAR BUDGET ADJUSTMENTS TO AMEND
THE FY 2015 -16 ADOPTED BUDGET HERETO ATTACHED AS SCHEDULE A
WHEREAS, the City Council of the City of Lynwood (the "City Council ") adopted
the City of Lynwood's Fiscal Year 2015 -16 (FY 16) Operating Budget on July 7, 2015;
and
WHEREAS, the City's adopted budget is based on certain assumptions and
meeting expenditure and revenue projections; and normally, at the mid -year point of the
fiscal year, the Mid -Year Financial Review is presented to provide an updated Financial
Forecast for the current -year; and
WHEREAS, staff also presents an annual Mid -Year Financial Review to the City
Council to report on the City's fiscal performance through mid -year (July through
December), comparing all revenues and expenditures incurred during the first two
quarters of FY 16 to the same period in FY 15; and
WHEREAS, further, the Finance Department meets with departments quarterly
during the fiscal year to monitor spending, assess revenues, and identify unanticipated
or critical -need issues that may arise and require budget adjustments to the current -
year budget; and
WHEREAS, staff has identified several Citywide fiscal issues that were not
included in the FY 16 Adopted Budget that will require amendments to avoid disruption
of services and ensure proper funding levels; and
WHEREAS; as a result, staff is recommending the following proposed budget
adjustments, hereto attached as Schedule A, which will amend the FY 16 Adopted
Budget; and
WHEREAS, if the recommended budget adjustments are approved by Council,
the FY 16 projected ending fund balance is below $2.8 million.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY RESOLVE AND DETERMINE AS FOLLOWS:
Section 1. By adoption of this resolution, the City Council approves the FY 16
Proposed Budget Adjustments hereto attached as Schedule A and hereby amends the
FY 16 Adopted Budget.
Section 2. That -the City Council authorizes the City Manager, or his designee,
to make the necessary budget adjustments to the City's financial system to reflect
appropriate changes to the FY 16 Adopted Budget.
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Section 3. That the City Council authorizes the City Manager or his designee
to discuss budget alternatives with the labor unions.
Section 4. This resolution shall go into effect immediately upon its adoption.
Section 5. The City Clerk shall certify as to the adoption of this City Council
Resolution.
PASSED, APPROVED AND ADOPTED this 23rd day of February, 2016.
ATTEST:
Maria Quinonez,
City Clerk
APPROVED AS TO FORM:
IL-'14�11ZOI' W. 6w
David A. Garcia,
City Attorney
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Edwin Hernandez,
Mayor
APPROVED AS TO CONTENT:
J. Arnoldo Beltran,
City Manager
K ` -Ix-
Christy Valencia,
Finance Manager
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, do hereby certify
that the foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 23"d day of February, 2016, and passed by
the following vote:
AYES: COUNCIL MEMBERS ALATORRE, SOLACHE, SANTILLAWBEAS,
CASTRO AND MAYOR HERNANDEZ
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
c
Maria Quinonez,, City Clerk
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, and the Clerk of
the City Council of said City, do hereby certify that the above foregoing is a full, true and
correct copy of Resolution No. 2016.049 on file in my office and that said Resolution
was adopted on the date and by the vote therein stated. Dated this 23rd day of
February, 2016.
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City of Lynwood
i 7q °)
Schedule A
FY 16 Proposed Budget Adjustments
FXPFK1nITI1RF1;
REVENUES
Proposed
Proposed
#
Proposed Adjustment
General Fund
Other Funds
Department /Divisions
Adjustment Amount
Adjustment Amount
1
Legal Fees
$26,500
$64,000 Refuse Fund
Public Works
Subtotal:
$64,000
2
Public Works Operational
$423
$2,000 Water Fund
Public Works
2
Budget
$300,000 Refuse Fund
Finance, Public Works
Subtotal:
$423
$2,000
3
Recreational & Community
$26,500
Recreation
Services Operational Budget
Subtotal:
$26,500
4
Los Angeles Animal Care and
$112,000
Public Safety
Control
Subtotal:
$112,000
5
Collection Receivable Write-
$100,000 Water Fund
Finance
Offs (Deemed Uncollectable by
the City or Agency)
Subtotal:
$100,000
6
Employee Payouts /Settlement
$165,794
All Departments
Agreements
Subtotal:
$165,794
7
Trash Hauler Service
$300,000 Refuse Fund
Finance, Public Works
Subtotal:
$300,000
8
Impact Fees - Transfer Out
($505,447) Impact Fees
Public Works
Fund
Subtotal:
($505,447)
9
Capital Improvement Projects
($505,447) Capital
Public Works
Fund
Improvement
Projects Fund
Subtotal:
($505,447)
F
Total FY 16 Proposed Budget
Adjustments:
$304,717
($544,894)
REVENUES
Page 1
Proposed
Proposed
#
Proposed Adjustment
General Fund
Other Funds
Department /Divisions
Adjustment Amount
Adjustment Amount
1
Recreational & Community
$26,500
Recreation
Services Operational Budget
Subtotal:
$26,500
2
Trash Hauler Service
$300,000 Refuse Fund
Finance, Public Works
Subtotal:
$300,000
Page 1
Page 2
Proposed
Proposed
#
Proposed Adjustment
General Fund
Other Funds
Department /Divisions
Adjustment Amount
Adjustment Amount
3
L.A. County Park Grant
$250,000 L.A. County
Public Works
Park Grant
Fund
Subtotal:
$250,000
4
Capital Improvement Projects -
($505,447) Capital
Public Works
Transfers In
Improvement
Projects Fund
Subtotal:
($505,447)
5
Retirement Fund Revenue
$363,344 Retirement
Finance
Fund
Subtotal:
$363,344
6
Redevelopment Pass Through
$26,829
Finance
Subtotal:
$26,829
7
RDA Asset Distribution
$64,176
Finance
Subtotal:
$64,176
Total FY 16 Proposed Budget
Adjustments:
$117,5051
$407,897
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