HomeMy WebLinkAboutResolutions - No. 2022-102RESOLUTION NO. 2022-102
A RESOLUTION OF THE LODI CITY COUNCIL APPROVING THE USE OF ONE TIME
GENERAL FUND SURPLUS FUNDS ACCRUED AS A RESULT OF CONSERVATIVE
PANDEMIC BUDGETING, STRONG ECONOMIC ACTIVITY, AND FEDERAL
REIMBURSEMENTS FOR PANDEMIC RELATED SPENDING; AND FURTHER
APPROPRIATING FUNDS ($9,580,000)
WHEREAS, the City Council has taken significant action to improve the City's
financial position through enacting sound financial policy, addressing long term liabilities,
limiting spending, and built substantial reserves; and
WHEREAS, as a result of these forward thinking financial decisions, the City of
Lodi was able to enter the COVID-19 pandemic in a sound financial position and approach
budgeting cautiously without drastic cutbacks; and
WHEREAS, even without substantial cuts, the City did freeze positions and reduce
spending on general operations during the pandemic; and
WHEREAS, despite public health restrictions on economic activity, the City's
revenues continued to increase during the pandemic at a rate that exceeded pre -
pandemic estimates; and
WHEREAS, the City was able to fund pandemic related public health and safety
measures, including those to protect employees and minimize the spread of COVID-19 to
vulnerable populations through meal delivery (Great Plates Delivered program) out of
general revenue that otherwise would have been available for programming; and
WHEREAS, the federal government has reimbursed the City in full for all pandemic
related spending at 100%; and
WHEREAS, the City Treasurer is required by the City Council adopted Pension
Stabilization Policy to invest reserves in excess of 16% of General Fund revenues to be
invested in a Pension Stabilization Fund to be used to help offset future Unfunded Accrued
Liability (UAL) payments to CalPERS or to buy down the City's UAL; and
WHEREAS, given the historic nature of the pandemic reimbursements, the amount
available in excess of 16% far exceeded expectations; and
WHEREAS, the Treasurer has calculated the Fiscal Year 2020-21 year end fund
balance and fund balance requirement net of all pandemic related spending and
reimbursements and invested the $1,669,145 in excess of 16% using this calculation into
the PSF already, bringing the PSF balance to over $23 million; and
WHEREAS, the pandemic related reimbursements that still remain in the General
Fund balance total $10,280,000 and per policy, the Treasurer is required to invest those
funds in the PSF; and
WHEREAS, the one-time resources available present a unique opportunity for City
Council to address substantial community needs in addition to the continued focus on long
term liabilities and stay in compliance with the City's fund balance reserve policy; and
WHEREAS, $700,000 of this funding will be allocated by separate Council
resolution.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lodi
approves the use of one-time General Fund surplus funds and appropriates funds in the
amount of $9,580,000 as outlined in Exhibit A, attached hereto and made a part hereof;
and
BE IT FURTHER RESOLVED that the Lodi City Council does hereby authorize the
appropriations and expenditures authorized in this resolution to be carried forward into
subsequent fiscal years until fully spent.
Dated: April 20, 2022
I hereby certify that Resolution No. 2022-102 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held April 20, 2022 by the following vote:
AYES: COUNCIL MEMBERS — Hothi, Khan, Kuehne, Nakanishi, and
Mayor Chandler
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
OLIVIA NASHED
City Clerk
2022-102
EXHIBIT A -
One Time General Fund Surplus Funds Proposed Uses
Department Request
Recommended
Cost Funding
Fire
Transfer remainder of funds from GF to fully fund
purchase of new fire truck
AC Units (2)
DeBenedetti Park - Cricket Sports Lighting
John Deere 4066R compact utility tractor with backhoe
and 4 in 1 bucket to replace parks' 2003 tractor
1,406,700
1,000,000
500,000
PD
500,000
PRCS
600,000
600,000
PRCS
80,000
80,000
PRCS
Playground Renovations at five (5) locations: English Oaks
Structure, Hale Park tot Lot Structure, Peterson East
Structure, Legion Structure, Katzakian Structure
Grape stake fence replacement at Hutchins St. south of
Century
1,630,000
1,630,000
PW
150,000
500,000
150,000
500,000
PRCS
1-5 / Flag City — Art Installation
PRCS
Highway 99 — Art Installation
500,000
500,000
PRCS
Lodi Lake Southside Renovation Improvements
2,400,000
500,000
425,000
2,400,000
470,000
EDD
PRCS
Fund small business matching loans or loan guarantees
Hutchins Street Square Climate Control System
Salas Park Parking Lot Overlay Improvements
425,000
PRCS
1,300,000
1,300,000
PRCS
PRCS
Legion Park Community Building Renovation
Demolition of Park Structures : Lawrence Park Restroom,
Softball Complex Concession, Lodi Look Building
275,000
275,000
250,000
1 250,000
Total
Funding $ 9,580,000