HomeMy WebLinkAboutCity Council Resolution 14-050 Budget Adjustment Resolution - Acceptance of Hakone Foundation Matching Funds for Hakone Gardens Master Plan RESOLUTION NO. 14-050
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
TO ACCEPT AND APPROPRIATE FUNDS FROM THE HAKONE FOUNDATION
FOR THE HAKONE MASTER PLAN DEVELOPMENT—PRELIMINARY
ENGINEERING AND DESIGN PHASE
WHEREAS,the City Council approved a Development Agreement with the Hakone Foundation
for the development of a Master Plan for Hakone Gardens
WHEREAS,the Development Agreement stipulates an initial deposit of$150,000 from the Hakone
Foundation and the City of Saratoga
WHEREAS,the City of Saratoga has such funds already appropriated in a dedicated CIP Account
WHEREAS,the Hakone Foundation is now providing its initial deposit of$150,000
WHEREAS, it is necessary to make adjustments to accept and appropriate these funds from the
Hakone foundation into the Fiscal Year 2014/15 CIP Budget as follows:
Account Description Account Amount
To appropriate revenue from the Hakone Foundation for the Hakone Master Plan Development project:
Revenue from the Hakone Foundation: 412.9222-001.49999 $ 150,000.00
To appropriate expenses from the Hakone Foundation for the Hakone master Plan Development project:
Expenditure: 412.9222-001.81142 $ 150,000.00
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Saratoga hereby
approves the above adjustments to the Fiscal Year 2014/15 Capital Improvement budget.
BE IT FURTHER RESOLVED, the above and foregoing resolution was passed and adopted at a
regular meeting of the Saratoga City Council held on 2nd day of July 2014 by the following vote:
AYES: Mayor Emily Lo, Vice Mayor Howard Miller, Council Member Manny Cappello,
Chuck Page, Jill Hunter
NOES: None
ABSENT: None
ABSTAIN: None
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Emily Lo, Mayor
ATTEST:
�'I.���� DATE: �`�/�1 �
Crys al othelio, City Clerk � �