HomeMy WebLinkAboutCity Council Resolution 2492 2492
RESOLUTION NO.
AMENDING THE CONSOLIDATED BUDGET FOR THE
FISCAL YEARS 1987-89, MAKING APPROPRIATIONS AND
AUTHORIZING CARRY-OVERS THERETO AND EXPENDITURES THEREFROM
WHEREAS, the City Manager forwarded to the City Council of said
City proposed amendments to the budget adopted by Resolution 2429
for Fiscal Years 1987-89 on May 20, 1988; and
WHEREAS, the City Council did review the proposed amendments at a
regular adjourned meeting on May 24, 1988, and held a duly-
advertised Public Hearing on the proposals of the City Manager
and the changes made thereto by the City Council in previous
session and took cognizance of all testimony presented, both oral
and written, at its regularly scheduled meeting of June 15, 1988.
NOW, THEREFORE, the City Council of the City of Saratoga does
resolve as follows:
Section 1: The City Council hereby approves expenditures in
the following amounts for the consolidated budget as
amended:
1987-88 1988-89
Operating Programs $4,677,446 $4,851,549
General Government 843,276 874,233
Intragovernmental Services 890,715 1,042,460
Capital Projects 1~0.51~.42.7 4,493,40.5
Consolidated Budgets $7,462,864 $11,261,647
No expenditures beyond said amounts are authorized without
further action by the City Council; any adopted expenditure
not expanded shall be carried over to future years for
subsequent expenditure authorization.
Section ~: The following appropriations for Fiscal Years
1987'89 are hereby approved:
1987-88 1988-89
From Current Revenues $7,462,864 $11,261,647
From Fund Balances -0- -0-
To Reserves 304,602 121,237
Total Appropriations $7,767,466 $11,382,884
Section 3: General reserves shall be used exclusively for
the purpose of providing necessary funds for cash flow,
emergency operations, and to supplement the Consolidated
Budget as needed. Accordingly, a minimum reserve of six
months estimated cost for the Consolidated Budget less
Capital Projects shall be maintained. Restricted reserves
shall be utilized exclusively for the purposes designated in
the budget document. No expenditures from the Reserves is
specifically authorized, rather, reserves shall be
transferred to the appropriate expenditure budget by
specific action of the City Council as it deems necessary.
Funds remaining in reserves at the end of this fiscal year
shall be carried over to future years at the discretion of
the City Council. Reserves are budgeted as follows:
1987-88 1988-89
General $5,572,688 $5,307,816
Restricted 1,255~934 1,642,0~3
Total Reserves $6,828,622 $6,949,859
Section 4: This Resolution shall be operational on June 15,
1988, and may be amended from time-to-time by resolution of
the City Council.
The above and foregoing resolution was passed and adopted at a
regular meeting of the Saratoga City Council held on the 15th day
of June, 1988, by the following vote:
AYES: Councihnembers Anderson, Clevenger, Hlava, Moyles and Mayor Peterson
NOES: None
ABS ENT: None 'MA~
ATTEST: