HomeMy WebLinkAbout13-005 Resolution Authorizing Amending Annual Budget for FY 201213 to Adjust Revenue, Expenditure, and Transfer Appropriates, Accept Grants for Capital Project fundingRESOLUTION NO. 13 -005
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
AMENDING THE ANNUAL BUDGET FOR FISCAL YEAR 2012/13
TO ADJUST REVENUE, EXPENDITURE, AND TRANSFER APPROPRIATIONS
TO REVISED LEVELS, AND ACCEPT GRANTS FOR CAPITAL PROJECT FUNDING
WHEREAS, the City of Saratoga's FY 2012/13 Operating Budget 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 and expenditures would exceed
budgeted revenues and expenditures in several fiords 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 to reflect accurate planning levels, and;
WHEREAS, the Saratoga -Monte Sereno Community Foundation has presented the City Council
with a $20,000 grant to pay for a portion of the Community Center's Wood Floor Upgrade Project and a
$3,894.43 grant to pay for a portion of the Fruitvale Avenue Median Improvement Project, and:
WHEREAS, the City Council wishes to accept the two grants and to gratefully acknowledge the
community spirit of those who have contributed to the grant and the fundraisers who have worked
tirelessly to generate these funds, and:
WHEREAS, it is necessary to amend the City of Saratoga's FY 2012/13 budget to adjust
revenue and expenditure appropriations and increase use of unassigned fiord balance where necessary 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 2012/13 Operating Budget as described in the Council's Mid -Year Budget Status
Report, with the exception of the General Plan and Facility CIP Fund budget adjustments related to
finding the Theater Master Plan as this funding matter is addressed in a separate resolution, and with the
addition of a General Fund expenditure appropriation in the amount of $245,444 to fund the CalPERS
Employer Side Fund payoff as addressed in a separate Council Report on the consent calendar;
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 6t" day of February 2013 by the following vote:
AYES: Council Member Chuck Page, Manny Cappello, Howard Miller, Vice Mayor
Emily Lo, Mayor Jill Hunter
NOES: None
ABSENT: None
ABSTAIN: None
4� AA- QL
Jill Hunter, Mayor
ATTEST:
DATE: -7 Z a 13
C s othelio, City Clerk