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Agenda Item
9 25-0312 Subject: General Purpose Fund Reserve
From: Councilmember Kaplan And Council President Fortunato Bas
Recommendation: Adopt A Resolution To Amend The FY2023-2024 Budget To Allocate Up To $30 Million In Fund 1100 (Self-Insurance Liability Fund) And Transfer Those Funds To The General Purpose Fund Reserve (Fund 1011)
In the last report to CC (1st Q R&E), finance staff was opposed to use of the 1100 fund balance being used to balance the budget. I think staff may have reversed that decision in this series of reports including the Budget Balancing report. It seems like another delay measure, again, one-time funds to balance an ongoing expense. Not good fiscal policy. It will be a bigger issue in FY 25-27, which already has a large hole to fill.
In the last report to CC (1st Q R&E), finance staff was opposed to use of the 1100 fund balance being used to balance the budget. I think staff may have reversed that decision in this series of reports including the Budget Balancing report. It seems like another delay measure, again, one-time funds to balance an ongoing expense. Not good fiscal policy. It will be a bigger issue in FY 25-27, which already has a large hole to fill.