Title
Adopt Joint City Council/Municipal Improvement District Resolution Approving Budget Adjustment No. 2021-01 Amending the FY 2020-21 Adopted Budget
Summary
The budget amendments presented here for adoption were discussed as necessary during the June 29, 2020 Special City Council meeting in which the Council adopted the FY 2020-21 budget with the explanation by staff that there were corrections and updates already identified.
One change, staff was able to secure a lower price for COVID-19 sewage testing. Instead of a commitment of six months at $1,020 per test, we secured a different lab for $317.50 per test without the longer term commitment. Total cost for a six-month testing period is $8,500, approximately a third of the prior $26,520 price with Biobot. In total, the amendments result in a net decrease in spending of $403,493 and an increase in revenue of $91,702. The adjustments provided in the resolution reduce the projected General Fund deficit from $348,827 to $168,717.