Memorandum
Date: July 9, 2024
To: The Honorable Lake County Board of Supervisors
From: Susan Parker, County Administrative Officer
Subject: Adopt Resolution Amending Resolution 2023-116 Adopting the Final Recommended Budget for Fiscal Year 2023-24 to Decrease Revenue and Reserves in Fund 153
Executive Summary: Your Board’s Adopted Budget for FY 2023/24 authorized repayment of a $90,000 loan. $90,000 were loaned by Fund 153 (Building and Infrastructure) to Fund 936 (CDBG Capital Projects). Resolution 2023-116 (Adopted by your Board September 19, 2023) increased the reserve account in Fund 153 by $90,000 (found on PDF page 2 of the attached document, “Fund Summary Final Recommended Budget 2023-24”), in consideration of funds received from the loan repayment.
Loan repayment was completed in FY 2023-24 and accrued to FY 2022-23. Therefore, an adjustment to reserves and revenue is necessary to end FY 2023-24 with a balanced budget.
Staff recommends your Board Adopt the attached Resolution Amending Resolution 2023-116 (“Resolution Adopting the Final Recommended Budget for Fiscal Year 2023-24”) to Decrease Revenue and Reserves in Fund 153.
If not budgeted, fill in the blanks below only:
Estimated Cost: ________ Amount Budgeted: ________ Additional Requested: ________ Future Annual Cost: ________
Purchasing Considerations (check all that apply): ☐ Not applicable
☐ Fully Article X. <https://library.municode.com/ca/lake_county/codes/code_of_ordinances?nodeId=COOR_CH2AD_ARTXPU_S2-38EXCOBI>- and/or Consultant Selection Policy <http://lcnet.co.lake.ca.us/Assets/Intranet/Policy/Policies+$!26+Procedures+Manual/Ch4_2021v2.pdf>-Compliant (describe process undertaken in “Executive Summary”)
☐ Section 2-38 <https://library.municode.com/ca/lake_county/codes/code_of_ordinances?nodeId=COOR_CH2AD_ARTXPU_S2-38EXCOBI> Exemption from Competitive Bidding (rationale in “Executive Summary,” attach documentation, as needed)
☐ For Technology Purchases: Vetted and Supported by the Technology Governance Committee <http://lcnet.co.lake.ca.us/Assets/Intranet/Intranet+Forms/Information+Technology/AdvPlan.pdf> (“Yes,” if checked)
☐ Other (Please describe in Executive Summary)
Consistency with Vision 2028 <http://www.lakecountyca.gov/Government/Directory/Administration/Visioning/Vision2028.htm> (check all that apply): ☐ Not applicable
☐ Well-being of Residents ☐ Public Safety ☐ Disaster Prevention, Preparedness, Recovery
☐ Economic Development ☐ Infrastructure ☐ County Workforce
☐ Community Collaboration ☐ Business Process Efficiency ☐ Clear Lake
Recommended Action:
Adopt Resolution Amending Resolution 2023-116 Adopting the Final Recommended Budget for Fiscal Year 2023-24 to Decrease Revenue and Reserves in Fund 153