Council approves fiscal-year 2024–25 budget amendments and cash transfers
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Summary
Council adopted Ordinance O25-22 approving FY 2024–25 budget amendments and cash/appropriation transfers; staff said the total citywide appropriation remains unchanged and the transfers move funds to correct debt-service and carryover accounts.
The Glendale City Council voted unanimously to approve Ordinance O25-22, which authorizes cash and appropriation transfers within the adopted fiscal year 2024–25 budget.
Levi Gibson, director of budget and finance, told the council the action moves cash to the correct debt service fund after refinancing and transfers appropriation between departments and funds mainly for carryover of capital improvement project (CIP) items. “This request is to approve fiscal year 24, 25 budget amendments, including the transfer of cash and appropriation,” Gibson said. He emphasized that the city’s total budget appropriation across all funds remains unchanged with this action.
Exhibit A to the ordinance includes a first transfer that moves cash from the MPC debt service fund to the excise tax debt service fund following bond refinancing; the remaining items in the exhibit are appropriation transfers for CIP carryover and related adjustments. Council approved the ordinance by roll-call vote with all members voting aye.
Staff said no cash moves occur for many of the requests (they are appropriation-only), and that transfers are consistent with Article 6, Section 11 of the City Code and the city’s cash and budget appropriation transfer policy (Resolution 5038).
