CITY COUNCIL AGENDA PACKET - Laserfiche WebLink

Page 3 of 15 Reserve ($0.8 million) to fund various initiatives included in the recently adopted One Pleasanton five-year strategic plan and an Emergency Reserve ($0.5 million) to set aside funds to be utilized in the event of any unforeseen disasters or emergency situations. In addition, transfers totaling $4.0 million to various funds are recommended to address negative fund balance issues in some funds, such as Storm Drain and Worker’s Compensation, and making a one-time contribution to some of the Repair & Replacement funds that are projected to be depleted of funds over the next one to two years. These funds may also help to address anticipated funding needs for replacement and/or upgrades of various equipment, vehicles, and information systems that are critical for City operations. Table 2 below details all the recommended adjustments. Notably, the City’s Storm Drain service has a major funding issue due to its structural deficit of more than $1.0 million annually for which the General Fund has been providing the necessary subsidy to close a funding gap each year. Staff is exploring options to address this funding issue and present recommended actions at a later date. In summary, these proposed allocations help to strengthen the General Fund reserve, establish an Emergency/Disaster reserve, advance City Council and community strategic goals, and address funding needs in the City’s Storm Drain, Insurance, and Repair and Replacement Programs. Non-General Fund In April 2015, the City’s Replacement/Renovation Internal Service Fund advanced $2.0 million to the Park Capital Improvement Program (CIP) Capital Fund to be used for costs associated with the Bernal Community Park Phase II Lighted Multi-Purpose Sports Fields project. The advance was scheduled to be repaid through private fundraising efforts - the Play Bernal Fundraising Campaign - within 10 years after the park’s opening date of October 6, 2016. In FY 2022/23, the City received more than $0.2 million in contributions from various entities involved in this fundraising campaign. Staff recommends budget amendments in the Bernal Community Park Donation Fund to add budget based on actual professional service costs incurred for landscaping and signage work at the park, as well as budget to transfer the contribution to the Park CIP Capital Fund for $35,000 and $0.2 million. Page 255 of 270