Title
Authorizing the City to reduce department General Fund budgets by $20,000,000 and transfer to the Capital Project Fund.
Body
WHEREAS, as part of the City’s financial strategy to manage all funding sources in an efficient manner the Office of Financial Services has identified that reducing department General Fund budgets and transferring funds to the Capital Project Fund maximizes impact of resources; and
WHEREAS, the City will reduce General Fund budgets for several departments as outlined in the attached financial analysis, and then transfer the available General Funds to the Capital Project fund; and
WHEREAS, the General Fund budget reduction will not impact department spending, as expenses will shift into the Grant Fund; and
WHEREAS, pursuant to Section 10.07.4 of the City Charter, the Mayor recommends the transfer of unencumbered appropriations between departments as outlined in the attached financial analysis; now therefore, be it
RESOLVED, that the City Council of Saint Paul does hereby:
1. Authorize the City to transfer funds between departments;
2. Authorize the appropriate City Officials to amend the budget as described in the attached financial analysis; and
3. Authorize City staff to take all other actions necessary to carry out this Resolution.
Financial Analysis
See attachment.