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AGENDA ITEM REVIEW FORM
7.A.
Regular City Council Meeting
Meeting Date:
01/24/2024
Department Head:
Roula Encinas
Submitted By:
Roula Encinas, Finance Operations Manager, Finance Department
Action Requested:
Motion

ITEM:

Discussion and possible action on any and all matters regarding the approval of budget transfer from City Council Contingency to City Council Contractual Services accounts.  (Roula Encinas, Acting Director of Finance)

SUMMARY:

This agenda item seeks the City Council's approval for the transfer of funds from the City Council Contingency account to the City Council Contractual Services account.
On July 19th, 2023, and July 26th, 2023, the City Council approved funding and cash calls for the various agreements for FY2024, as follows:
  • Greater Yuma Port Authority for $50,000.00
  • 4FrontED for $8,789.20
  • The Small Business Development Center for $13,630.00
  • Greater Yuma Economic Development Corporation for $63,763.00
  • Arizona Interagency Farmworkers Coalition for $6,000.00
Initially, the funds for these agreements were allocated within the City Council Contingency account.  The current requirement is to transfer these funds to the City Council Contractual Services account.  This aligns with the financial policy of the City of San Luis.  The transfer will ensure that funds are accurately accounted for in the category of contractual services.  Furthermore, this action adheres to the budgetary protocols and maintains fiscal discipline, ensuring that the city's financial resources are managed effectively.

RECOMMENDATION / SUGGESTED MOTION:

I MOVE TO APPROVE THE BUDGET TRANSFER FOR $142,190.00 TO ALLOCATE THE FUNDING OF THESE AGREEMENTS FROM THE CITY CONTINGENCY ACCOUNT TO THE CITY CONTRACTUAL SERVICES ACCOUNT FOR FY2024.

Fiscal Impact

IS THERE FISCAL IMPACT ASSOCIATED WITH THIS ITEM:
YES
CITY/STATE/FEDERAL FUNDS:
YES
TOTAL:
$142,190.00
BUDGETED AMOUNT:
$506,450.00
AVAILABLE AMOUNT TO TRANSFER:
$425,120.00
ACCT NAME & GL#/REMAINING BALANCE BEFORE PURCHASE:
See Fiscal Impact

FISCAL IMPACT STATEMENT (IF THIS IS A BUDGET TRANSFER, YOU MUST ATTACH THE BUDGET ADJUSTMENT FORM):

The Finance Department is requesting the budget transfer from the City Contingency GL account 100-110-81000 to the City Council Contractual Services GL account 100-110-80000 for $142,190.00 to allocate the proper expenses for these approved agreements.