Share to Facebook Share to Twitter Bookmark and Share
File #: 21-1586    Version: 1
Type: Agenda Item Status: Approved
File created: 9/29/2021 In control: Board of Supervisors
On agenda: 10/12/2021 Final action: 10/12/2021
Title: Chief Administrative Office recommending the Board: 1) Approve an amendment to the Fiscal Year 2021-22 Budget to adjust fund balances to actual Fiscal Year 2020-21 ending amounts as delegated by the Board with Resolution 123-2021 that adopted the County Budget for Fiscal Year 2021-22 (4/5 vote required). FUNDING: Countywide Budget.
Attachments: 1. A - Detailed Adjustments by Subfund, 2. B - Budget Transfer, 3. Executed Budget Transfer
Related files: 21-1519
Title
Chief Administrative Office recommending the Board:
1) Approve an amendment to the Fiscal Year 2021-22 Budget to adjust fund balances to actual Fiscal Year 2020-21 ending amounts as delegated by the Board with Resolution 123-2021 that adopted the County Budget for Fiscal Year 2021-22 (4/5 vote required).

FUNDING: Countywide Budget.
Body
DISCUSSION / BACKGROUND

On September 17, 2021, the Auditor-Controller’s Office closed the Fiscal Year (FY) 2020-21 financial records, finalizing the fund balance amounts that will need to be included in the FY 2021-22 Adopted Budget. Due to the short time between when the financial records closed and the adoption of the budget on September 28, 2021, only the General Fund had the actual fund balance and budgeted use of fund balance aligned in the Adopted Budget changes approved by the Board on September 28, 2021 with Legistar item 21-1519. The Adopted Budget Resolution 123-2021 authorized the Auditor-Controller to make the adjustments to the FY 2021-22 budget where the FY 2020-21 actual year-end closing figures for any fund differ from the FY 2021-22 beginning fund balance budget estimates. The Resolution outlined the following parameters for these adjustments:

(1) Should the available financing exceed the financing requirements for any individual fund other than the General Fund, the excess shall be applied to Increase the Appropriation for Contingency in the respective fund as provided by Government Code Section 29084.

(2) Should the financing requirements for any individual fund exceed available financing, the Auditor shall reduce the Appropriation for Contingency in the respective fund, until exhausted, and then shall reduce Reserves/Designations in the respective fund, excepting the General Fund General Reserve. If financing requirements still exceed available financing, the Auditor-Controller shall inform the Chief Administrative Officer and the Chief Administrative Officer will make recommendations to the Board ...

Click here for full text