File #: ID#14-734    Version: 1 Name: Funding for ULI Report Implementation Program
Type: Action Item Status: Passed
File created: 11/24/2014 In control: City Manager's Office
On agenda: 12/1/2014 Final action: 12/4/2014
Title: Approve preliminary funding in the amount of $500,000 for establishment of the ULI Report Implementation special program; and approve the transfer of $500,000 in General Fund reserves to the Special Programs Fund to fund the program.
Attachments: 1. ULI Implementation Matrix Staff Recommendations Oct31 2014, 2. ULI Implementation Matrix Staff Recommendations(P) Only-11-12-14
SUBJECT/RECOMMENDATION:
Title
Approve preliminary funding in the amount of $500,000 for establishment of the ULI Report Implementation special program; and approve the transfer of $500,000 in General Fund reserves to the Special Programs Fund to fund the program.
 
Body
SUMMARY:  
This request is to establish a designated program and initial seed money appropriation to underwrite implementation of the ULI Advisory Services Panel Report, as reflected in the ULI Implementation Matrix with Priority (P) items designated for initial implementation.
It would be intended that this program would be supplemented periodically as circumstances warrant, as costs for implementation of specific items are further defined, and as items in the Implementation Matrix are added to the Priority (P) list.
 
APPROPRIATION CODE AND AMOUNT:
Funding for this item will be provided by a first quarter budget amendment allocating General Fund reserves in the amount of $500,000 to establish special program 181-99888, ULI Report Implementation.
The balance in General Fund reserves is approximately $17.3 million, or 14.8% of the 2014/15 General Fund operating budget. A total of $1,651,214 of General Fund reserves has been used to date to fund expenditures in the 2014/15 operating budget.