HomeMy Public PortalAbout2020.054 - (04-21-20) DocuSign Envelope ID:64EFB705-F3CB-441A-B5FC-01DDBA87DAA6
RESOLUTION NO. 2020.054
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING FY 2019-20 BUDGET ADJUSTMENTS AMENDING THE FY
2019-20 ADOPTED BUDGET HERETO ATTACHED AS SCHEDULE A
WHEREAS, the City Council of the City of Lynwood (the "City Council") adopted
the FY 2019-20 budget and approved the FY 2020-21 budget on July 2, 2019; and •
WHEREAS, the City's adopted budget is based on certain assumptions and
meeting expenditure and revenue projections; 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 2019-20 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 2019-20 Adopted
Budget; and
WHEREAS, in light of the need to adjust operational budget for department to
continue to operate at the expected level, it is understood that the current Covid-19
pandemic can and will impact the City's anticipated revenue for the current and future
fiscal years; and
WHEREAS, staff proactively called the top 25 businesses within the city to
ascertain a sense of the impact of Covid-19. It is anticipated that the City will see a
potential 13.3% drop in General Fund revenue for the current fiscal year due to the current
pandemic. The 13.3% drop ($4,308,150) in revenue reflects a $1,308,150 decrease in
sales tax and Measure P.S. revenue as well as an anticipated loss of$3,000,000 revenue
in sale/lease back water tower revenue. Ultimately, there will be a substantial impact the
City's major revenue sources such as Sales Tax, Measure R, Measure M, and SB1 (Gas
Tax).
WHEREAS, if the recommended budget adjustments are approved by Council, the
FY 2019-20 projected ending fund balance including proposed adjustment of$167,637 is
$5,752,753, which is above the minimum General Fundreserve level of the current-year
adopted operating budget.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY RESOLVE AND DETERMINE AS FOLLOWS:
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DocuSign Envelope ID:64EFB705-F3CB-441A-B5FC-01DDBA87DAA6
Section 1. By adoption of this resolution, the City Council approves the FY
2019-20 Proposed Budget Adjustments hereto attached as Schedule A and hereby
amends the FY 2019-20 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 2019-20 Adopted Budget.
Section 3. This resolution shall go into effect immediately upon its adoption.
Section 4. The City Clerk shall certify as to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council
of the City of Lynwood, California, this 21St day of April, 2020
C DocuSigned by:.
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Aide Castro, Mayor
ATTEST:
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Maria Quinonez, ,
City Clerk .
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
,-DocuSigned by: DocuSigned by:
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Noel Tapia, Jose E. Ometeotl,
City Attorney City Manager
DocuSigned by:
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John Downs,
Finance Director
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DocuSign Envelope ID:64EFB705-F3CB-441A-B5FC-01DDBA87DAA6
STATE OF CALIFORNIA )
) §
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
above and foregoing resolution was duly adopted by the City Council of said City at its
regular meeting thereof held in the City Hall of the City on the 21St day of April, 2020 and
passed by the following vote:
AYES: COUNCIL MEMBERS ALATORRE, SANTANA, SOLACHE, MAYOR PRO
TEM CASANOVA, AND MAYOR CASTRO
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
jffL(Aii
aria Quinonez,
City Clerk
STATE OF CALIFORNIA )
) § ,
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council
of said City, do hereby certify that the above and foregoing is a full, true and correct copy
of Resolution No. 2020.054 on file in my office and that said resolution was adopted on
the date and by the vote therein stated. Dated this 21St day of April, 2020.
(—Pa/ / -1 4 I 0
Maria Quinonez,
City Clerk
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