City of South San Francisco - File #: 22-308

• File #: 22-308
• Type: Resolution
• Status: Passed
• File created: 4/22/2022
• In control: City Council
• On agenda: 4/27/2022
• Final action: 4/27/2022
• Title: Resolution approving the transfer of $8.5 million from General Fund surplus fund balance to the Infrastructure Reserves as recommended in the FY2021-22 Mid-Year financial update to City Council on February 23rd, 2022.
• Related files: 22-307

Date	Ver.	Action By	Action	Result
4/27/2022	1	City Council

Title

Resolution approving the transfer of $8.5 million from General Fund surplus fund balance to the Infrastructure Reserves as recommended in the FY2021-22 Mid-Year financial update to City Council on February 23^rd, 2022.

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WHEREAS, the City’s Finance Director provided a verbal presentation and written staff report to City Council during the FY2021-22 Mid-Year financial update at the February 23^rd City Council meeting; and

WHEREAS, within that presentation and staff report, a recommendation was given to transfer $8.5 million from General Fund surplus fund balance to the Infrastructure Reserves fund; and

WHEREAS, the associated resolution that was passed did not provide express authority to transfer said funds from General Fund surplus fund balance to the Infrastructure Reserves fund; and

WHEREAS, authority to transfer $8.5 million from General Fund surplus fund balance to the Infrastructure Reserves fund is hereby now provided.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San Francisco that the City Council approves the transfer of $8.5 million from General Fund surplus fund balance to the Infrastructure Reserve fund.

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