HomeMy WebLinkAboutCity Council Resolution 2429 RESOLUTION NO. 2429
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
ADOPTING THE CONSOLIDATED BUDGET FOR THE
FISCAL YEARS 1987-89, MAKING APPROPRIATIONS AND AUTHORIZING
CARRY-OVERS TMERETO AND EXPENDITURES THREFROM
WHEREAS, the City Manager forwarded to the City Council of said
City the proposed budget for the City for Fiscal Years 1987-89 on
May 22, 1987; and
WHEREAS, the City Council did review the proposed budget at a
regular adjourned meeting on May 26, 1987, 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
sessions and took cognizance of all testimony presented, both
oral and written, at its regularly scheduled meeting of June 3,
1987.
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:
1987-88 1988-89
Operating Programs $4,627,084 $4,419,941
General Government 803,639 866,660
Intragovernmental Services 943,250 972,194
Capital Projects 1~392~100 3~030,700
Consolidated Budgets $7,766,073 $9,289,495
No expenditures beyond said amounts are authorized without
further action by the City Council; any adopted expenditure not
expended shall be carried over to future years for subsequent
expenditure authorization.
Section 2: The following appropriations for Fiscal Years 1987-89
are h'ereSy approved:
1987-88 1988-89
From Current Revenues $7,766,073 $9,191,133
From Fund Balances -0- 98,362
To Reserves -0- -0-
Total Appropriations $7,766,073 $9,289,495
Section 3: General reserves shall be used exclusively for the
purpose ~f providing necessary funds for cash flow, emergency
operations, and to supplement the Consolidated Budget as needed.
AccordingIy, 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 $5,460,379 $4,982,576
Restricted !..,.229.,118 .~.,608,559
Total Reserves $6,689,497 $6,591,135
Section 4: This Resolution shall be operational on July 1, 1987,
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 17th day
of June, 1987, by the following vote:
AYES: CouncilmembersAnderson, Clevenger, FDyles, Peterson, andMayor Hlava
NOES: None
ABSENT:None
ATTEST:
Deputy City Cle~
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