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6.A. - Page 2 of 11 <br />ANALYSIS <br />The fiscal year (FY) 2019-20 Adopted Budget, approved June 24, 2019, was balanced and has subsequently <br />experienced changes in estimated revenues and expenditures resulting from the COVID-19 pandemic. In <br />order to reflect the estimated revenues and expenditures for FY 2019-20, and to reconcile the City's <br />accounting records with estimated amounts reported in the Ten -Year Forecast, budget amendments are <br />required for FY 2019-20. <br />The following table summarizes recommended changes in budgeted appropriations for revenue and <br />expenditures by fund type. A detailed explanation of these revisions is provided in the exhibits to the <br />resolution in Attachment A (Exhibit A — Changes in Revenues and Exhibit B — Changes in Expenditures). <br />Summary of Recommended Budget Changes by Fund Type <br />------------------------------------ <br />---------------------------------------------------------------------- <br />-------------------------------------------------------------- <br />Net Change <br />Revenues <br />Expenditures <br />in Fund Balance <br />General Fund, <br />$ (947,628) <br />$ <br />477,366 <br />$ <br />(1,424,994) <br />Special Revenue Funds' <br />$ - <br />$ <br />160,280 <br />$ <br />(160,280) <br />Internal Services Funds', <br />$ - <br />$ <br />66,537 <br />$ <br />(66,537) <br />Total <br />$ (947,628) <br />$ <br />704,183 <br />$ <br />(1,651,811) <br />FISCAL IMPACT <br />The net change in fund balance for each fund type is shown in the Analysis Section of this report. These <br />recommended budget changes have all been included in the estimated operating balance for FY 2019-20 <br />and sufficient resources are available within the fund balance in the respective funds. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />Page 2 of 3 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />