File #: 20-451    Version: 1 Name:
Type: Workshop Status: Agenda Ready
File created: 12/2/2020 In control: City Council
On agenda: 12/10/2020 Final action:
Title: Long Range Financial Forecast, Revenue and Funding Options Workshop
Attachments: 1. Long Range Financial Forecast, Revenue and Funding Options Workshop, 2. Public Comment
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Recommendation

A.                     Receive a presentation from staff on a City of Goleta Preliminary Long-Range Financial Forecast; and

B.                     Direct staff to pursue new revenue and debt financing options and bring them back to the City Council with a CIP Funding Plan; and

C.                     Authorize the transfer of funds currently set aside in reserves for CalPERS unfunded accrued liability in the amount of $170,000 and OPEB unfunded accrued liability in the amount of $333,500 to the City’s Section 115 Trust; and

D.                     Direct staff to further analyze available Unassigned Fund Balance and return to the City Council with a recommendation for a CIP project funding reserve level.

 

 

Staff

Michelle Greene, City Manager

Luke Rioux, Finance Director