I. RECOMMENDATION:
City Manager and Financial Services Director recommend Board of Directors of the Coalinga Public Financing Authority (CPFA) adopt Resolution No. PFA 20-01 for the adoption of final budget spending plan for Fiscal Year 2020-2021, 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:
City Manager and Financial Services Director recommend Board of Directors of the Coalinga Public Financing Authority (CPFA) adopt Resolution No. PFA 20-01 for the adoption of final budget spending plan for Fiscal Year 2020-2021, providing for the appropriation and expenditure of all sums set forth in said final budget, and provide for the transfers and additional appropriations.
III. DISCUSSION:
City Council has discussed the budget plan for FY 2020-2021 at various meetings.
IV. ALTERNATIVES:
Board could decide to postpone adopting a final budget plan for FY 2020-2021.
V. FISCAL IMPACT:
Adoption of FY 2020-2021 CPFA final budget plan is a fiduciary fund with available resources and expenditures.
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