Title
Report regarding a resolution approving interim spending authority for the first 90 days of Fiscal Year 2023-24 (Karen Chang, Director of Finance)
label
RECOMMENDATION
Recommendation
It is recommended that the City Council of the City of South San Francisco adopt a resolution providing interim spending authority for the first 90 days of the Fiscal Year, in the event the proposed Fiscal Year 2023-24 operating budget is not approved on June 28, 2023.
Body
BACKGROUND/DISCUSSION
The City’s authority to expend funds, granted under prior budget resolutions, expires on June 30, 2023. A resolution must be passed to allow for continued operations until the budget is adopted, in the event that the Fiscal Year (FY) 2023-24 budget is not adopted on June 28, 2023. The proposed resolution allows the FY 2022-23 operating budget to be continued for a period of 90 days for staffing and appropriations, which would be prorated accordingly.
CONCLUSION
Adopting this resolution allows the City to continue operate in a fiscally sound manner until a final budget is passed.