HomeMy WebLinkAboutCity Council Resolution 18-006 Amending the adopted Operating and Capital Budget for FY 2017-18RESOLUTION NO. 18-006
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
AMENDING THE ADOPTED OPERATING AND CAPITAL BUDGET
FOR FISCAL YEAR 2017/18
WHEREAS, the City of Saratoga's FY 2017/18 Operating and Capital 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 one Internal Service Fund operating budget line item
required a Council approved budget adjustment to increase expenditure appropriations, and;
WHEREAS, it was determined that three capital project budgets required Council
approved budget adjustments to reflect the revenue, expenditure, and transfer in/out
appropriation adjustments, and;
WHEREAS, the City Council desires to adopt revenues, expenditures, transfers, and/or
use of fund balance appropriations at the revised appropriation levels to reflect accurate funding,
and;
WHEREAS, it is necessary to amend the City of Saratoga's FY 2017/18 budget to adjust
revenue and expenditure appropriations to be in alignment with the revised appropriation
projections;
WHEREAS, the proposed expenditure budget adjustments are as follows:
Adiustment Description Account# Adiustment
Facility FFE Fund
Increase FFE replacement funding exp. carryforward. 633.6203.77265 41,888
EV Fast Charge Station
Project scope/title change to include Level 2 stations
Village to Quarry Park Walkway (Phase 1)
Decrease exp appropriation in Magical Bridges project
Decrease PIL exp appropriation in Magical Bridges project
Increase transfer out from Magical Bridges project
Increase PIL transfers out from Magical Bridges project
Increase GF transfer in from Magical Bridges project
Increase PIL transfer in from Magical Bridges project
Increase transfers in to Walkway capital project
Increase Walkway project expenditures
N/A -
412.9211-009.81161 (32,000)
422.9211-009.81161 (128,000)
412.9211-009.99999
32,000
422.9311-009.99999
12 8, 000
111.8101.49999
32,000
422.9299.999.49999
28,000
432.9277-004.49999
100,000
432.9277-004.81144
100,000
Prospect Road Improvements - Addt7 $1 million grant
Increase transfer out from GF reserve to capital project 111.8101.99999 160,000
Increase transfer in from GF reserve to capital project 411.9122-006.49999 160,000
Increase grant match funding expenditure appropriation 411.9122-006.81161 160,000
NOW THEREFORE, BE IT RESOLVED, that the City Council of the City of Saratoga hereby
amends the Fiscal Year 2017/18 Operating and Capital Budget as shown above and as described in the
Council's Mid -Year Budget Status Report brought to Council on March 7, 2018;
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 7th day of March, 2018 by the following vote:
AYES: Mayor Mary -Lynne Bernald, Vice Mayor E. Manny Cappello, Council Members
Howard A. Miller, Emily Lo, Rishi Kumar
NOES:
ABSENT:
ABSTAIN:
. _ _.���
I1 .%: -
-mald, Mayor
A LEST:
D-,
Nora Pimentel, MMC
City Clerk