HomeMy WebLinkAboutCity Council Resolution 11-002 RESOLUTION NO. 11— 002
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
AMENDING THE ANNUAL BUDGET FOR FISCAL YEAR 2010/11
TO ADJUST REVENUE, EXPENDITURE, AND TRANSFER APPROPRIATIONS
TO REVISED LEVELS
WHEREAS, the City's FY 2010/11 General Fund revenues and expenditures were reviewed
at mid -year and projected through year -end to determine estimated activity for the fiscal year, and;
WHEREAS, it was determined that estimated revenues were in alignment with budgeted
appropriations, however expenditures would exceed authorized expenditure budget appropriations
due to several unplanned expenditures, and;
WHEREAS, it was determined that this would result in an unbalanced budget, and;
WHEREAS, the City Council desires to adopt revenue, expenditure, transfers, and /or use of
fund balance appropriations at the revised projection levels, and;
WHEREAS, it is necessary to amend the City of Saratoga's FY 2010/11 budget to adjust
revenue and expenditure appropriations and to increase use of undesignated fund balance to be in
alignment with the revised projections;
NOW THEREFORE, BE IT RESOLVED, that the City Council of the City of Saratoga
hereby amends the Fiscal Year 2010/11 Operating Budget as described in the Council's Mid Year
Budget Status Report;
AND BE IT FURTHER RESOLVED, that the Finance and Administrative Services
Director is directed to record these changes into the City's accounting records in accordance with
appropriate accounting practices.
The above and foregoing resolution was passed and adopted at a regular meeting of the Saratoga City
Council held on the 2 day of February, 2011 by the following vote: -
AYES: Councilmember Manny Cappello, Emily Lo, Vice Mayor Chuck Page, Mayor
Howard Miller
NOES: None
ABSENT: Councilmember Jill Hunter
ABSTAIN: None 9
Howard A. Miller, Mayor
rip
Ann Sullivan, City Clerk