HomeMy WebLinkAboutCity Council Resolution 06-054RESOLUTION 06-054
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SARATOGA
AMENDING THE FY 2005-06 AND FY 2006-07
BUDGET FOR THE RECEIPT AND
ALLOCATION OF $1,213,500 IN ONE-TIME FUNDS
WHEREAS, On July 6, 2006 the City Council held a special meeting to discuss the
receipt and allocation of one-time funds ;
WHEREAS, Council provide direction regazding the budget allocation of these one-time
funds
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
Saratoga hereby resolves to accept the budget amendments as submitted and authorizes the
budget adjustments as follows:
• FY 2005-06
o Increase General Fund Revenues as follows:
• $516,900 -State VLF reimbursement
• $176,400-ABAG Workers Compensation settlement
o Increase General Fund Reserves and Designations as follows:
^ $260,100 -Reserve for Economic Uncertainty
• $ 62,500 -Retiree's Medical Account
• $370,700 -Designated for future CIP Projects
• FY 2006-07
o Increase General Fund Revenues as follows:
$520,200 -State repayment of prior years "take-away"
o Increase General Fund Expenditures and Designations as follows:
• $ 77,400 -Support to Outside Agencies
• $429,300 -Designated for future CIP projects
AND BE IT FURTHER RESOLVED, that the 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 regulaz meeting of the Sazatoga
City Council held on the 19th day of July 2006 by the following vote:
AYES: Councilmembers Kathleen King, Nick Streit, Ann Waltonsmith,
Vice Mayor Aileen Kao, Mayor Norman Kline
NOES: None
ABSENT: None
ABSTAIN: None
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ATTEST: ~ ~;
Cathleen B~oyeryCity Clerk