CC Resolution No. 15-049 Adopting an Operating and Capital Improvement Budget for FY 2015-16 by Ratifying the adequacy of estimated revenues and fund balances in each fund to cover monies RESOLUTION NO. 15-049
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR
FISCAL YEAR 2015-16 BY RATIFYING THE ADEQUACY OF ESTIMATED
REVENUES AND FUND BALANCES IN EACH 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,
ctivities;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 2015-16, 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 2015-2016
Proposed Budget Financial Overview by Fund (Attachment Cl), as amended during the
budget sessions, and stated for the purposes as expressed and estimated for each
department.
Resolution No. 15-049
Page 2
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 expenditures 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 2nd day of June 2015, by the following vote:
Vote Members of the City Council
AYES: Chang, Paul, Vaidhyanathan, Wong
NOES: Sinks
ABSENT: None
ABSTAIN: None
ATTEST: APPROVED:
Grace Schmidt, City Clerk Rod Sinks, Mayor
City of Cupertino
Attachment C1
FISCAL YEAR 2015-16 PROPOSED BUDGET
FINANCIAL OVERVIEW BY FUND
Special Debt Service Capital Project Enterprise Internal Service 2015-16 Proposm—k
Reven tie Categories General Fund Revenue Fund fund -- Funds Funds Funds Budget ToIM
Sales Tax $ 20,360,000 $ $ $ $ $ $ 20,360,000
Property Tax 16,055,000 16,055,000
Transient Occupancy 5,072,000 5,072,000
Utility Tax 3,100,000 3,100,000
Franchise Fees 2,800,000 2,800,000
Other Taxes 1,400,000 766,652 2,166,652
Licenses&Permits 6,171,000 - 6,171,000
Use of Money&Property 742,530 7,000 749,530
Intergovernmental 600,000 1,012,723 - 1,612,723
Charges for Services 7,261,725 - 4,434,855 3,892,776 15,589,356
Fines&Forfeitures 217,085 502,000 - - 719,085
Miscellaneous 720,895 - - - 720,895
Transfers In - 7,913,237 3,167,538 4,291,990 2,220,163 17,592,928
TOTAL REVENUE $ 64,500,235 $ 10,194,612 $ 3,167,538 $ $ 8,733,845 $ 6,112,939 $ 92,709,169
Special Debt Service Capital Project Enterprise Internal Service 2015-16
Appropriation Categories General Fund Revenue Fund Fund Funds --funds Funds Budget To
Employee Compensation $ 14,556,011 $ 899,197 $ $ $ 1,684,519 $ 1,233,363 $ 18,373,090
Employee Benefits 6,260,965 444,742 492,698 1,531,662 8,730,067
Materials 3,971,681 831,465 457,468 429,618 5,690,232
Contract Services 16,677,546 440,400 5,484,662 2,253,039 24,855,647
Contingencies 1,432,349 880,000 56,500 1,715,105 4,083,954
Cost Allocation 3,078,842 453,701 592,675 210,027 4,335,245
Special Projects 6,647,521 - - - 6,647,521
Capital Outlays 10,000 16,985,994 3,260,000 200,000 - 20,455,994
Debt Service/Other Uses 2,239,763 49,462 3,167,538 - 608,549 1,028,201 7,093,513
Transfers Out 9,371,222 - - 5,600,000 - - 14,971,222
TOTAL EXPENDITURES $ 64,245,900 $ 20,984,961 $ 3,167,538 $ 8,860,000 $ 9,577,071 $ 8,401,015 $ 115,236,485
Net Increase(Decrease)in
Fund Balance/Retained $ 254,335 $ (10,790,349) $ - $ (8,860,000) $ (843,226) $ (2,288,076) $ (22,527,316)
Earnings