CC Resolution No. 14-173 Adopting an operating budget fir fiscal year 2014-15 RESOLUTION NO. 14-173
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING AND CAl_PITAL IMPROVEMENT BUDGET FOR
FISCAL YEAR 2014-15 BY RATIFYING THE ADEQUACY OF ESTIMATED
REVENUES AND FUND BALANCES IN Ei\CH FUND TO COVER APPROPRIATED
MONIES, APPROPRIATING MONIES THEREFROM FOR SPECIFIED ACTIVITIES
AND ACCOUNTS, AND SETTING FORTH CONDITIONS OF ADMINISTERING
SAID BUDGET
WHEREAS, the orderly administration of municipal government is dependent
on the establishment of a sound fiscal policy -of maintaining a proper ratio of
expenditures within anticipated revenues and available monies; and
WHEREAS, the extent of any project or program and the degree of its
accomplishment, as well as the efficiency of performing assigned duties and
responsibilities, is likewise dependent on the monies made available for that purpose;
and
WHEREAS, the City Manager has submitted his estimates of anticipated
revenues and fund balances, has determined that estimated revenues and fund balances
are adequate to cover appropriations, and has recommended the allocation of monies
for specified program activities;
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby adopt
the following sections as a part of its fiscal policy:
Section 1: The estimates of available fund balances and anticipated resources
to be received in each of the several funds during fiscal year 2014-15, as submitted by
the City Manager in his proposed budget and amended during the budget study
sessions, are sufficient to cover appropriations.
Section 2. There is appropriated from each of the several funds the sum of
money set forth as expenditures for the funds named in the Fiscal Year 2014-2015
Proposed Budget Financial Overview by Fund (Attachment B1), as amended during the
budget sessions, and stated for the purposes as expressed and estimated for each
department.
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 become necessary for ,administrative purposes.
Section 4. The Director of Administrative Services shall prepare and submit to
City Council quarterly a revised estimate of Operating Revenues.
Section 5. The Director of Administrative Services is hereby authorized to
carry over, from the prior fiscal year, unexpended appropriations for Capital
Improvement projects.
Section 6. The Director of Administrative Services is hereby authorized to
continue appropriations for operating expencf:itures that are encumbered or scheduled
to be encumbered at year end.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 1St day of July 2014, by the following vote:
Vote Members of the Cii_-,y Council
AYES: Wong, Sinks, Chang, Mahoney, Santoro
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST: APPROVED:
41 A. -
Grace Schmidt, City Clerk Gilbert Wong, Mayor
City of Cupertino
Attachment B1
FISCAL YEAR 2014-15 :PROPOSED BUDGET
FINANCIAL OVERVIEW BY FUND
DIF
ry
er
1 1 •.•
Sales Tax $ 18,288,000 $ - $ - $ - $ - $ - $ 18,288,000
Property Tax 15,067,000 - - - - - 15,067,000
Transient Occupancy 4,510,000 - - - - - 4,510,000
Utility Tax 3,100,000 - - - - - 3,100,000
Franchise Fees 2,897,000 - - - - - 2,897,000
Other Taxes 5,020,000 200,000 - - - - 5,220,000
Licenses&Permits 1,600,000 - - - - - 1,600,000
Use of Money&Property 724,000 33,000 - - 30,000 14,000 801,000
Intergovernmental 265,000 2,358,943 - - - - 2,623,943
Charges for Services 3,541,500 365,000 - - 6,961,278 4,350,386 15,218,164
Fines&Forfeitures 550,000 - - - - - 550,000
Miscellaneous - - - - - - -
Transfers In - 12,566,357 3,171,838 15,184,787 113,657 590,647 31,627,286
TOTAL REVENUE $ 55,562,500 $ 15,523,300 $ 3,171,8:;8 $ 15,184,787 $ 7,104,935 $ 4,955,033 $ 101,502,393
®•.
• . 1 1 •••
lo
Employee Compensation 13,443,472 865,140 - - 1,484,960 1,100,865 16,894,437
Employee Benefits 5,909,022 412,153 - - 451,443 1,459,914 8,232,532
Materials 3,358,238 998,541 - - 400,014 399,353 5,156,146
Contract Services 14,978,077 417,000 - 5,076,934 1,575,734 22,047,745
Contingencies 1,232,747 47,304 - - 295,454 193,047 1,768,552
Cost Allocation 3,336,132 419,731 - - 805,345 958,486 5,519,694
Special Projects 1,898,500 - - 591,388 37,500 2,527,388
Capital Outlays 12,495 13,105,000 - 4,968,000 136,701 1,566,598 19,788,794
Debt Service/Other Uses 1,256,000 - 3,171,8M - - - 4,427,838
Transfers Out 31,627,286 - - - 986,000 - 32,613,286
TOTAL EXPENDITURES $ 77,051,969 $ 16,264,869 $ 3,171,8:8 $ 4,968,000 $ 10,228,239 $ 7,291,497 $ 118,976,412
Depreciation-Reserve -
Net Increase(Decrease)in
Fund Balance/Retained $ (21,489,469) $ (741,569) $ - $ 10,216,787 $ (3,123,304) $ (2,336,464) $ (17,474,019)
Earnings
_ r