RECOMMENDATION TO COUNCIL
Staff is recommending the City Council, acting as the Roseville Natural Gas Financing Authority (RNGFA), approve the attached resolution adopting the RNGFA FY2021-22 budget.
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BACKGROUND
Attached is the RNGFA budget for FY2021-22. The debt service expense budget of $16,784,500 represents principal and interest payments on the 2007 Gas Revenue Bonds, which financed the prepayment of natural gas used for power generation at the Roseville Energy Park.
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FISCAL IMPACT
The budget document provides a financial summary of the revenues and expenses of the RNGFA. Approval of the annual budget has no new fiscal impact.
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ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. Approval of a yearly budget meets the above criteria and is not subject to CEQA. No additional environmental review is required.
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CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world
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Respectfully Submitted,
Nick Rosas, Accounting Manager
Dennis Kauffman, Assistant City Manager/Chief Financial Officer |
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Dominick Casey, City Manager
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