CC Resolution No. 18-057 Establishing an Operating Budget and Capital Budget for FY 2018-19RESOLUTION NO. 18-057
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR
FISCAL YEAR 2018-19 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;
WHEREAS, the City has independently studied the proposed Capital
Improvements Program (CIP) and has determined that the CIP is exempt from
environmental review pursuant to the exemption in 14 Cal. Code Regs. §15601(b)(3) in
that it can be seen with certainty that there is no possibility that this action will have a
significant effect on the environment because approval of the CIP is a budgeting action,
and does not involve approval of any specific project that may have a significant effect
on the environment;
WHEREAS, the City Council, using its independent judgment, before taking
action on this Resolution, determines that the CIP is exempt from CEQA as stated above;
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 2018-19, as submitted by the
Resolution No. 18-057
Page 2
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 2018-19 Proposed
Budget Financial Overview by Fund (Exhibit A), 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 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 5th day of June, 2018, by the following vote:
Vote Members of the City Council
AYES:
Paul, Sinks, Chang, Scharf, Vaidhyanathan
NOES:
None
ABSENT:
None
ABSTAIN:
None
ATTEST: APPROVED:
j ..
Grace Schmi , City Clerk barcy Paul, or
City of Cupertino
Resolution No. 18-057
Page 3
FISCAL YEAR 2018-19 ADOPTED BUDGET
FINANCIAL OVERVIEW BY FUND
Sales Tax
$
23,637,000
$
$ $
Property Tax
$
22,766,000
$
$ $
Transient Occupancy
$
8,252,000
$ -
$ - $
Utility Tax
$
3,200,000
$
$ $
Franchise Fees
$
3,042,000
$- -
$ - $
Other Taxes
$
1,150,000
$ 3,000
$ $
icenses & Permits
$
2,685,000
$ -
$ - $
Ise of Money & Property
$
692,000
$ 89,310
$ $
itergovernmental
$
326,000
$ 3,822,881
$ $
.harges for Services
$
9,419,276
$ 370,000
$ $
ines & Forfeitures
$
615,000
$ 9,000
$ - $
liscetlaneous
$
244,200
$ 185,000
$ $
ransfers In/Other Financing Uses
$
860,000
$ 8,086,000
$ 3,169,438 $
TOTAL REVENUE $
76,888,476
$ 12,565,191
$ 3,169,438 $
loyee Compensation
$ 19,349,144 $
990,595 $
$
doyee Benefits
$ 8,059,818 $
501,148 $
- $
rials
$ 5,772,556 $
855,119 $
- $
rad Services
$ 19,461,836 $
867,900 $
$
Allocation
$ 9,368,223 $
425,454 $
$
tat Outlays
$ 793,000 $
4,103,379 $
$
al Projects
$ 1,368,298 $
5,900,000 $
$
ingendes
$ 1,197,933 $
35,702 $
- $
sfers Out
$ 11,358,912 $
10,000 $
$
Service/Other Uses
$ 910,000 $
- $
3,169,438 $
TOTAL EXPENDITURES
$ 77,639,720 $
13,689,297 $
3,169,438 $
Net Increase (Decrease) in Fund
Balance/Retained Earnings
$ (751,244) $
(1,124,106) $
$
9,051,500 $ 7,344,400 $
$
1,902,484 $
$ .
566,178 $
$
568,836 $
$
6,066,925 $
$
906,362 $
7,141,500 $
75,000 $
$
240,000 $
$
317,000 $
- $
15,000 $
$
6,871,400 $
$
66,000 $
9,051,500 $
75,000 $
9,051,500 $ 7,344,400 $
$
1,902,484 $
$ .
566,178 $
$
568,836 $
$
6,066,925 $
$
906,362 $
7,141,500 $
75,000 $
$
240,000 $
$
207,732 $
10,726,500 $
- $
- $
320,509 $
17,868,000 $ 10,654,026 $
(8,816,500) $ (3,509,626) $
4,973,162 $
2,051,126 $
7,024,288 $
1,361,662 $
1,696,269 $
981,277 $
1,981,855 $
727,082 $
903,000 $
147,882 $
699,351 $
8,498,378 $
(1,474,090) $
Exhibit A
23,637,000
22,766,000
8,252,000
3,200,000
3,042,000
1,153,000
2,685,000
1,098,310
4,163,881
21,633,838
624,000
495,200
23,293,064
116,043,293
23,603,885
10,823,413
8,177,788
28,378,516
11,427,121
12,112,879
8,411,298
1,589,249
22,095,412
5,099,298
131,718,859
(15,675,566)