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Page 14 of 15 Table 14. LPFD Workers Compensation Fund – FY 2020/21 Actual vs. FY 2022/23 Actual All Other Operating Funds For the most part, budget variances are small for the other Operating Funds as shown in Attachment 2. As a result, staff is not recommending any budget changes. EQUITY AND SUSTAINABILITY Not applicable, as this item is an administrative matter of City business. OUTREACH No outreach was conducted, as this item is an administrative matter of City business. STRATEGIC PLAN ALIGNMENT Approval of this action advances the ONE Pleasanton strategic plan goal of Funding Our Future to support the City's fiscal sustainability. Examining and reviewing actual revenues and expenditures from FY 2022/23 provides staff with additional information to adjust the current fiscal year's budget, as needed, as well as fine-tune the long-term financial forecast for more informed fiscal planning. FISCAL IMPACT The recommendation ratifies the City Council’s actions since the last approved budget adjustment in FY 2022/23; establishes two new reserves - a Strategic Plan Implementation Reserve ($0.8 million) and an Emergency Reserve ($0.5 million); transfers $4.0 million from the General Fund to various funds as detailed in Table 2; approves two budget amendments in the Bernal Park Donation Fund; and designates the June 30, 2023, General Fund Balances as outlined in this report. The proposed unrestricted General Fund reserves will be $29.6 million, which is 20.0% of the budgeted FY 2023/24 General Fund operating expenditures, the target reserve level stated in the City’s Reserve Policy. When combined with restricted and other committed General Fund reserves, the total General Fund reserves will be $50.7 million. Prepared by: Submitted by: Approved by: Chris Yi, Financial Services Manager Susan Hsieh, Director of Finance Gerry Beaudin, City Manager Page 266 of 270