File #: RES 20-180    Name: Adopt a resolution to a. Receive a financial condition report on Lake Nacimiento Resort and Operations Enterprise Fund, Fund 452, for Fiscal Year (FY) 2019-20 and estimates for FY 2020-21; and b. Authorize and direct the Auditor-Controller to amend th
Type: BoS Resolution Status: Passed - RMA Administration
File created: 10/9/2020 In control: Board of Supervisors
On agenda: 10/20/2020 Final action: 10/20/2020
Title: Adopt a resolution to a. Receive a financial condition report on Lake Nacimiento Resort and Operations Enterprise Fund, Fund 452, for Fiscal Year (FY) 2019-20 and estimates for FY 2020-21; and b. Authorize and direct the Auditor-Controller to amend the FY 20-21 Adopted Budget to: 1) Increase appropriations in the General Fund, Fund 001, Other Financing Uses, Appropriation Unit CAO017, by $1,433,912, funded by a decrease in General Fund, Fund 001, Contingencies, Appropriation Unit CAO020, 2) Increase operating transfers in, in the Lakes Resort and Operations Enterprise Fund, Fund 452, Appropriation Unit RMA102, by $1,433,912, and 3) Transfer $1,433,912 from General Fund, Fund 001, Other Financing Uses, Appropriation Unit CAO017, to the Lakes Resort and Operations Enterprise Fund, Fund 452, Appropriation Unit RMA102 (4/5th vote required).
Attachments: 1. Board Report, 2. Attachment A-Lake Nacimiento Financial Report, 3. Attachment B-Draft Resolution
Title
Adopt a resolution to
a. Receive a financial condition report on Lake Nacimiento Resort and Operations Enterprise Fund, Fund 452, for Fiscal Year (FY) 2019-20 and estimates for FY 2020-21; and
b. Authorize and direct the Auditor-Controller to amend the FY 20-21 Adopted Budget to: 1) Increase appropriations in the General Fund, Fund 001, Other Financing Uses, Appropriation Unit CAO017, by $1,433,912, funded by a decrease in General Fund, Fund 001, Contingencies, Appropriation Unit CAO020, 2) Increase operating transfers in, in the Lakes Resort and Operations Enterprise Fund, Fund 452, Appropriation Unit RMA102, by $1,433,912, and 3) Transfer $1,433,912 from General Fund, Fund 001, Other Financing Uses, Appropriation Unit CAO017, to the Lakes Resort and Operations Enterprise Fund, Fund 452, Appropriation Unit RMA102 (4/5th vote required).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Receive a financial condition report on Lake Nacimiento Resort and Operations Enterprise Fund, Fund 452, for Fiscal Year (FY) 2019-20 and estimates for FY 2020-21; and
b. Authorize and direct the Auditor-Controller to amend the FY 20-21 Adopted Budget to: 1) Increase appropriations in the General Fund, Fund 001, Other Financing Uses, Appropriation Unit CAO017. by $1,433,912, funded by a decrease in General Fund, Fund 001, Contingencies, Appropriation Unit CAO020; 2) Increase operating transfers in for the Lakes Resort and Operations Enterprise Fund, Fund 452, Appropriation Unit RMA102, by $1,433,912, and 3) Transfer $1,433,912 from General Fund, Fund 001, Other Financing Uses, Appropriation Unit CAO017, to the Lakes Resort and Operations Enterprise Fund, Fund 452, Appropriation Unit RMA102 (4/5th vote required).

SUMMARY/DISCUSSION:
A financial condition report for the Lake Nacimiento Resort and Operations Enterprise Fund for Fiscal Year (FY) 2019-20 and a forecast for FY 2020-21 using three different operating scenarios i...

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