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8.A. - Page 26 of 42 to administer and defend the Docktown Plan. Staff is currently developing cost projections and will assess whether a budget amendment is required during FY 2020-21 to fund any additional costs. 5. ADJUSTMENTS TO THE FY 2020-21 BUDGET RESULTING FROM THE FY 2020-21 MID -YEAR BUDGET UPDATE Appropriations of Limited -Term Funding for Council Priorities Unspent Council Priorities from FY 2019-20 There are several expenditure items related to Council priorities that were included in the FY 2019-20 Ten - Year General Fund Forecast that need to be appropriated so that they can be spent. As part of this staff report, staff is recommending budget appropriations of $3.3 million in FY 2020-21 in order to continue the advancement of City Council priorities. The recommended appropriations are: • $1.0 million towards necessary improvements identified in the Americans with Disabilities Act (ADA) Transition Plan • $750,000 to be transferred to the CIP fund to fund transportation projects • $500,000 in direct payments to CaIPERS to reduce the City's pension liability and continue progress on the second year of the 18 -year pension liability payoff plan • $500,000 towards climate adaptation initiatives • $400,000 to support residents' transition from homelessness or vehicle dwelling into permanent housing and cleanup of public streets, sidewalks, and property • $150,000 towards operating department innovation initiatives to reimagine services and increase staff capacity Recommended New Appropriations to Support Council Priorities for FY 2020-21 Financial results for FY 2020-21 project a slight deficit of $77,000, including the recommended appropriations detailed below. Staff expects to have sufficient expenditure savings by year-end to cover the $77,000 estimated deficit. As part of this staff report, staff is recommending budget appropriations of $2.9 million in FY 2020-21 in order to continue the advancement of City Council priorities. The recommended appropriations, which were identified in the Revised Budget adopted October 26, 2020, are: • $1.0 million towards necessary improvements identified in the ADA Transition Plan • $1.0 million for COVID-19 related costs • $650,000 to support residents' transition from homelessness or vehicle dwelling into permanent housing and cleanup of public streets, sidewalks, and property (Healthy Streets Initiative) • $268,000 in direct payments to CalPERS to reduce the City's pension liability and continue progress on the third year of the 18 -year pension liability payoff plan 6. FY 2021-22 BUDGET DEVELOPMENT The consideration and adoption of the City Budget has always been one of the most important actions that the City Council takes. This year is no different, especially given the current economic uncertainties, the consideration and adoption of the City Budget is as critical as ever. The budget determines the services the City provides to the community, the staffing of the organization, and sets the amount of funds spent in any given fiscal year. Page 26 of 28 . �AL City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 557