HomeMy Public PortalAbout2021.034 - (03-16-21) RESOLUTION NO. 2021.034
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD,
COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, RECEIVING
AND FILING THE FISCAL YEAR (FY) 2020-21 MID-YEAR FINANCIAL
REVIEW, AND APPROVING THE FY 2020-21 MID-YEAR BUDGET
ADJUSTMENTS TO AMEND THE FY 2020-21 ADOPTED BUDGET
HERETO ATTACHED AS SCHEDULE A
WHEREAS, the City Council of the City of Lynwood (the "City Council") approved
the City of Lynwood's Fiscal Year 2020-21 (FY 21) Operating Budget on July 2, 2019;
and
WHEREAS, the City's biennial adopted budgets are 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 21 to the same period in FY 20; and
WHEREAS, further, the Finance & Administration 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 21 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 21 Budget; and
WHEREAS, if the recommended budget adjustments are approved by Council,
the FY 21 projected ending fund balance is $4.59 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 21
Proposed Budget Adjustments hereto attached as Schedule A and hereby amends the
FY 21 Budget.
Section 2. The City Council authorizes the City Manager, or designee, to make the
necessary budget adjustments to the City's financial system to reflect appropriate
changes to the FY 21 Budget.
Section 3. The City Manager, or designee, is authorized to true-up the budget at the
end of the fiscal year, ensuring all carryovers are processed and reflected in the new
fiscal year.
Section 4. The City Council authorizes the City Manager, or his designee, to discuss
budget alternatives with the labor unions.
Section 5. The City Clerk shall certify to the adoption of this resolution and hereafter
the same shall be in full force and effect.
SASSED, APPROVED and ADOPTED this 16th day of March 2021.
Adie
Santana, yor
ATTEST:
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Maria Quinonez,
City Clerk
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
Noel Tapia, .� hn Do ,
City Attorney erector of Finance &Administration Services
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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
special meeting thereof held in the City Hall of the City on the 16th day of March, 2021
and passed by the following vote:
AYES: COUNCIL MEMBERS FLORES, SOLACHE, SOTO, MAYOR PRO TEM
CASANOVA AND MAYOR SANTANA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Maria 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. 2021.034 on file in my office and that said resolution
was adopted on the date and by the vote therein stated. Dated this 16th day of March,
2021.
aria Quinonez,
City Clerk
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