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File Number: 25-105 <br />Committee unanimously recommended the report be moved to the City Council for <br />acceptance. <br />Financial Impacts <br />The staff recommendation to reduce the FY 2024-2025 General Fund revenue by $905,287 will <br />draw $0.9 million more than planned. <br />For the Shoreline Enterprise Fund, the FY 2024-2025 budget amendment appropriating <br />$667,500 in expenditures will be offset by the adjustment adding $300,000 in TOT revenue in the <br />short term. Over the long term, the City will seek to recover the $567,500 in Shoreline <br />development litigation costs. <br />The appropriation of $279,460 to the Facilities Maintenance Fund will draw from fund balance. <br />There are sufficient reserves to cover the cost for FY 2024-2025. To note, this will be a net new <br />ongoing cost that will be included with the FY 2026-2027 Biennial Budget. Facilities Maintenance <br />Fund costs are allocated across the General Fund and Enterprise funds. <br />ATTACHMENTS <br />Attachment A: Resolution Approving the 2024-2024 Mid-Year Financial Report as of December <br />31, 2024, and Adopting the Proposed Adjusted Fiscal Year 2024-2025 Budget Appropriations. <br />Attachment B: FY 2024-2025 Mid-Year Financial Report as of December 31, 2024 <br />Attachment C: General Fund Revenue Budget Adjustment Detail <br />PREPARED BY:Nicole Gonzales, Finance Director <br />Felicia Silva, Assistant Finance Director <br />Page 5 City of San Leandro Printed on 9/4/2025