Item Coversheet

STAFF REPORT - CITY COUNCIL/SUCCESSOR AGENCY/PUBLIC FINANCE AUTHORITY

Subject:Adopt Resolution No. PFA 19-01 Adopting a Budget for Fiscal Year 2019-2020
Meeting Date:June 20, 2019
From:Marissa Trejo, City Manager
Prepared by:Jasmin Bains, Financial Services Director


I.    RECOMMENDATION:

City Manager and Financial Services Director recommend Board of Directors of the Coalinga Public Financing Authority (CPFA) adopt Resolution No. PFA 19-01 for the adoption of final budget spending plan for Fiscal Year 2019-2020, providing for the appropriation and expenditure of all sums set forth in said final budget, and provide for the transfers and additional appropriations.



II.    BACKGROUND:

The Board of Directors (Board) of the CPFA and staff have been deliberating on an appropriation and budget plan for FY 2019-2020.  Resolution No. PFA 19-01 formally adopts the Board’s appropriation and budget plan for FY 2019-2020.



III.   DISCUSSION:

City Council has discussed the budget plan for FY 2019-2020 at various meetings.



IV.   ALTERNATIVES:

Council could decide to postpone adopting a final budget plan for FY 2019-2020.



V.    FISCAL IMPACT:

Adoption of FY 2019-2020 CPFA final budget plan is a fiduciary fund with available resources and expenditures. 
ATTACHMENTS:
File NameDescription
Budget_Adoption_FY_19-20_Res_No_PFA_19-01.pdfResolution No. PFA 19-01 Budget Adoption FY 19-20