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CC Resolution No. 9119 RESOLUTION NO. 9119 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO ADOPTING AN OPERATING AND CONSTRUCTION BUDGET FOR FISCAL YEAR 1994-95 BY RATIFYING ESTIMATES OF REVENUES TO BE RECEIVED IN EACH FUND AND 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 ration 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, 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 I The estimates of available fund balances and anticipated resources to be received in each of the several funds during fiscal year 1994-95 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 from each of the several funds the sum of money as determined during the budget sessions 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 continue unexpended appropriations for Capital Improvement Projects. RESOLUTION NO. 9119 Section 6. The Director of Administrative Services, after fiscal audit of June 30, 1993, financial records, is hereby authorized to transfer the unreserved balance from the General Fund, Storm Drain Fund, Park Dedication Fund, Gas Tax Fund, and Environmental Fund into a "Reserve for Future Capital Projects". PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino this 20th day of June , 1994, by the following vote: Y!lli: Mem bers of the City Co unci I AYES: NOES: ABSENT: ABSTAIN: Bautista, Burnett, Sorensen, Dean None Koppel None APPROVED: 181 Wally Dean Mayor, City of Cupertino ATTEST: 181 Kim Marie Smith City Clerk