Title
Approval of Budget Revision 2025-23 Midyear Grant Budget Adjustment
Recommended Action
I move that Council approve Budget Revision 2025-23 for the FY 2025 Midyear Grant Budget Adjustment in net amount of $7,973,623 and include Attachment B as part of minutes of this meeting.
County Manager's Recommendation
The County Manager recommends that Council approves budget revision 2025-23 as requested.
Body
Each year, the Finance Division, along with departments who receive grant funding from outside sources, reconcile grant amounts received. This process, also, is in line with the final completion of the Annual Comprehensive Financial Report (ACFR) and the annual audit. Often times these grants carry over from one fiscal year to the next or the funds are received in the following fiscal after the award was granted. The reconciliation aligns the budget with these items.
Attachment A breaks down each grant by department, grant name and amount being adjusted to align with the awarded grant. Revenue's total $8,162,059 and Expenditures total $188,436 for a net of $7,973,623.
Alternatives
Council could choose not to approve some or all of the attached budget adjustment. The impact would be that related projects or programs may not occur or existing operations may be negatively impacted.
Fiscal and Staff Impact/Planned Item
The fiscal impact is detailed in Attachment A.
Attachments
A - List of Grant Adjustments
B - Budget Revision 2025-23