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...
Click here for full text