REPORT TO COUNCIL AND SUNNYVALE FINANCING AUTHORITY
SUBJECT
Title
City Council Adoption of the FY 2020/21 Budget, Fee Schedule and Appropriations Limit, Approve Budget Modification No. 29 to Appropriate Community Development Block Grant CARES Funding, and Sunnyvale Financing Authority Adoption of the FY 2020/21 Budget
Report
BACKGROUND
On May 11, 2020, the City Manager's FY 2020/21 Recommended Budget was provided to City Council and made publicly available on the City's website. On May 21, 2020, City Council held a budget workshop to review in detail the recommended budget and twenty-year resource allocation plan. On June 9, 2020, the City Council held a public hearing on the FY 2020/21 Recommended Budget, the establishment of the City's Appropriations Limit, and the Fee Schedule. Public comments were received at this hearing and no action was taken affecting the proposed budget. Notification of the hearing was also sent to those who specifically requested notice of fee increases as per the provisions of California Government Code section 66016(a). Council must now consider the adoption of the FY 2020/21 Budget, Fee Schedule, and Appropriations Limit.
On June 9, 2020 the Council amended the City's 2019 Housing and Urban Development (HUD) Action Plan with RTC No. 20-0526 and approved receipt of CDBG CARES funds for immediate assistance to households financially impacted by COVID-19. Those funds require appropriation for expenditure.
The FY 2020/21 Recommended Budget also includes the annual budget for the Sunnyvale Financing Authority, the governing body established to provide the debt service for the Sunnyvale Office Center. The only appropriation for the Financing Authority is the annual debt service payment for the Sunnyvale Office Center. The Sunnyvale Financing Authority Board held a public hearing on the Authority's FY 2020/21 Budget on June 9, 2020. The Authority must now consider the adoption of the FY 2020/21 Budget.
EXISTING POLICY
The California Co...
Click here for full text