Title
Year End Appropriation Resolution amending the 2025 Adopted Operating Budget by taking the following actions: transferring $2.1 million from the General Fund contingent reserve and $4.4 million from other General Fund underspending to meet projected shortfalls in agency budgets; appropriating $1.0 million for a shelter endowment, funded through transfers of agency underspending and contingent reserve; making other transfers of appropriations within and across agency budgets; and making revenue adjustments to non-General Fund agencies based on third quarter projections; amending the 2025 Adopted Capital Budget by taking the following actions: appropriating funding from non-borrowing sources to various capital projects; transferring budget authority across major projects; and transferring general obligation borrowing proceeds across capital projects to comply with federal arbitrage rules; and authorizing the Mayor and Clerk to execute an agreement for a shelter endowment
Fiscal Note
The proposed resolution amends the 2025 adopted operating budget in order to make technical adjustments within various agency budgets. The amounts proposed in the year-end appropriation are based on actual expenditures through September of 2025. Major changes in the resolution include: 1) transferring $1.2 million from direct appropriations to multiple agencies for compensated absence escrow costs, 2) transferring $6.5 million in the General Fund budget, including funding in the contingent reserve, underspending in centrally budgeted compensated absence escrow benefits, and underspending in various agencies, to cover projected deficits in multiple agencies, 3) transferring $1.0 million from agency underspending and the contingent reserve to fund a grant to an external partner to establish a shelter endowment, 4) authorizing intra-departmental transfers within multiple agencies, 5) amending the budget for multiple non-General Fund agencies, and 6) amending the 2025 adopted capit...
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