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CC Resolution No. 8431 RESOLUTION NO. 843l A RESOLUTION OF THE CITY CXXJNCIL OF THE CITY OF ctJPERTIOO AOOPTING AN OPERATING AND OONSTRIJcrION BUOOET FOR FISCAL YEAR 1991-92 BY RATIFYING ESTIMATES OF REVENUES 'IO BE RECEIVED IN EACH FUND AND APPROPRIATING M:NIES 'ffiEREFR(M FOR SPECIFIED ACl'IVITIES AND ACCOUNTS AND SETI'ING FORTH CONDITIONS OF AI:MINISTERING SAID BUOOET WHEREAS , dependent on proper ratio IIOnieS¡ and the ordering administration of municipal c;pvernment is the establishment of a sound fiscal policy of maintaining a of expenditures within anticipated revenues and available WHEREAS, the extent of any project or program and the degree of its aC<X!!Ilplishment, as well as the efficiency of performing assigned duties and responsibilities, is likewise dependent on the IIOnies Jœde available for that purposes¡ WHEREAS, the City Manager has suhnitted his estimates of anticipated revenues and fund balances, has recornœnded the allocation of m::mies for specified program activities; NCW, THEREFORE, BE IT RESOLVED that the City Council does hereby adopt the following sections as a part of its fiscal policy: Section l. The estimates of available fund balances and anticipated resources to be received in each of the several funds during fiscal year 1991-92 as submitted by the City Manager in his proposed Budget and as have been amended during the budget study sessions are hereby ratified. Section 2. There is appropriated fran each of the several funds the sum of IIOney as dete:nnined during the budget sessions for the purposes as expressed and estimated for each Departrænt. -l- RESOLUTION 00. 8431 Section 3. The City Manager is hereby authorized to administer and transfer appropriations between Budget Accounts within the Operating Budget, when in his opinion such transfers I:Jecane necessary for administrative purposes. Section 4. To the extent that revenues exceed expenditures, the City Manager is authorized to carry unexpended appropriations over into department oontingencies for the subsequent fiscal year. Section 5. The Finance Director shall prepare and subnit to City Council quarterly a revised est:iJrate of Operating Revenues. Section 6. The Finance Director is hereby authorized to continue unexpended appropriation for Capital :rnprovement Projects. Section 7. The Finance Director, after fiscal audit of June 30, 1991 financial records, is hereby authorized to transfer the unreserved balance fran the General Fund, StoDII Drain Fund, Park Dedication Fund, Gas Tax Fund, and Enviromœntal Fund into a "Reserve for Future Capital Projects." PASSED AND AOOPI'ED at a regular meeting of the City Council of the City of CUpertino this lst day of July, 1991 by the fOllowing vote: vote Ma11bers of the Citv Council AYES: NOES: ABSENT: ABSTAIN: GoldmBn, Rogers, Sorensen, Szabo, Koppel None None None ATl'EST: APPROVED: Isl Dorothv Cornelius City Clerk Isl Barb Koocel Mayor, City of CUpertino -2-