FROM:
Finance
SUBJECT:
Title
Proposed Operating Budget for the Fontana Community Foundation for Fiscal Years 2025/26 and 2026/27
End
RECOMMENDATION:
Recommendation
Adopt Resolution No. FCF 2025-001, adopting the Fontana Community Foundation Annual Operating Budget for Fiscal Years 2025/2026 and 2026/2027.
End
COUNCIL GOALS:
• Operate in a businesslike manner by ensuring that the public debate is based on accurate information.
• Practice sound fiscal management by producing timely and accurate financial information.
• Practice sound fiscal management by living within our means while investing in the future.
• Practice sound fiscal management by fully funding liabilities and reserves.
DISCUSSION:
The Fontana Community Foundation was created on April 27, 2005, by Foundation Resolution 2005-01. The Foundation is a separate legal entity of the City and is governed by California State Law. The Foundation is legally chartered as a Section 501(c)(3) non-profit organization within the Internal Revenue Code. The Foundation oversees the actions of unincorporated divisions such as the Fontana Library Foundation Division within the City structure.
It is the mission of the Fontana Community Foundation to lessen the burdens of government by aiding and assisting in the implementation, improvement, and maintenance of public services that preserve and promote the health and welfare and education of local citizenry of the City of Fontana.
Estimated revenues for both Fiscal Years 2025/26 and 2026/27 are $2,500. Total fiscal year appropriations are $76,400 in Fiscal Year 2025/26 and $76,600 in Fiscal Year 2026/27 which reflects the appropriation of available fund to respond to unprogrammed requests throughout the fiscal year.
To view the Proposed Operating Budget for Fiscal Years 2025/26 and 2026/27 in its whole entirety please visit <https://www.fontanaca.gov/263/Budget>
FISCAL IMPACT:
The fiscal impact associated with the approval of this item is the establishment of the operating budgets for Fiscal Years 2025/26 and 2026/27. Total appropriations and sources for Fiscal Year 2025/26 are $76,400 and $2,500 respectively, and for Fiscal Year 2026/27 $76,600 and $2,500 respectively. The net fund balance impacts is a decrease of $73,900 for Fiscal Year 2025/26 and a decrease of $74,100 for Fiscal Year 2026/27.
MOTION:
Approve staff recommendation.