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Date: May 12, 2025 Item: 6 <br />Presenter: Maggie Jin, Finance Director <br />Section: Consent Agenda <br /> <br />Title: 2024 Fund Transfer <br /> <br /> <br />1.Purpose: <br />The purpose of this action item is to approve 2024 transfer. <br />2.Background: <br />Staff has been working on audit for the last few month with audit fieldwork recently completed. <br />Upon review of the general ledger and trial balance, there is a debt service fund (324) that has a <br />negative fund balance. Therefore, staff is recommending the transfer per the attached exhibit to <br />reallocate City funds from the Facility Fund (440). <br />3.Staff Recommendation: <br />Staff recommends approval of the 2024 Transfer as presented. <br />AGENDA ITEM <br /> <br /> <br /> <br /> <br /> <br />COUNCIL ACTION REQUESTED <br />Motion to approve the 2024 Transfer as presented on the attached exhibit. <br />Exhibits <br />2024 Fund Transfer <br />39