HomeMy WebLinkAboutCity Council Resolution 98-22 RESOLUTION NO. 9 8 - 2 2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
ADOPTING THE BUDGET FOR FISCAL YEARS 1998-99 AND 1999-00 MAKING
APPROPRIATIONS AND AUTHORIZING CARRY-OVERS THERETO AND EXPENDITURES
THEREFROM
WHEREAS, on June 3, 1998, the City Manager forwarded to the City Council of said City the
proposed budget for the fiscal year 1998-99 and fiscal year 1999-00; and
WHEREAS, the City Council did review the proposed budget at a duly advertised public
hearing on the proposed budget and took cognizance of all testimony presented, both oral and written,
at its regularly scheduled meeting of June 3, and the regularly scheduled meeting of July 1, 1998.
NOW, THEREFORE, the City Council of the City of Saratoga does resolve as follows:
Section I: The City Council hereby approves expenditures in the following amounts for Fiscal
Years 1998-99 and 1999-00 from the consolidated budgets:
($000's)
FY 1998-99 FY 1999-00
Operating Programs $ 8,714.9 $ 7,4553
General Government 1, 169.3 1,149.2
Internal Services 941.2 693.7
Capital Projects 1,041.0 941.3
Contingency Appropriation 200.0 200.0
CONSOLIDATED BUDGET $ 12,066.4 $ 10,439.5
No expenditures beyond said amounts are authorized without further action by the City
Council; any adopted expe~Kliture not expended shall be carried over to future years for
subsequent expenditure authorization.
Section 2: The following appropriations for Fiscal Years 1998-99 and 1999-00 are hereby
approved:
($000's)
FY 1998-99 FY 1999-00
From Current Revenues $ t0,711.9 $ 10,560.5
(T o) From Fund Balances 1,354.5 ( 121.0)
TOTAL APPROPRIATIONS $ 12,066.4 $ 10,439.5
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 the greater of $2,000,000 or 25% of General
Fund Operating Appropriations shall be maintained at the close of the Fiscal Year. 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 carded over to future years at
the discretion of the City Council.
Section 4: This Resolution shall be operational on July 1, 1998, and may be mended from time
to time by resolution of the City Council.
2
The above and foregoing resolution was passed and adopted at a regular meeting of the Saratoga City
Council held on thel st day of nuly ,1998, by the following vote :
AYES: Councilmembers Bogosian, ~acobs, Moran, Shaw and Mayor Wolfe
NOES: None
Ad3SENT: None
ABSTAIN: None ~ ~~
[ Mayor
ATTEST:
City Clerk~ ~" ~.r"'
9~BudApp. Res