Impact
WARD: Citywide
COMMITTEE: Finance and Administration
$ IMPACT:
Title
Approval of the use of FY 2018 Surplus
Body
ISSUE:
Approval of the allocation of the FY2018 Surplus
BACKGROUND: FY 2018 ended with stronger revenues and lower expenditures than anticipated. As a result, the City has a positive year-end position. Finance recommends allocating this surplus to cover several unexpected, unbudgeted expenditures and to recommit funds for future CIP and VRF needs.
RECOMMENDATION/REQUESTED ACTION: Approval of the suggested use of surplus.