CC Resolution No. 19-066 Adopting an Operating Budget for Fiscal Year 2019-20 by Ratifying the Adequacy of Estimated Revenues and Fund Balances in each Fund to Cover Appropriated Monies, Appropriating Monies Therefrom for Specified Activities and Account RESOLUTION NO. 19-066
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING BUDGET FOR
FISCAL YEAR 2019-20 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, 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 2019-20, 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 2019-20 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.
Resolution No. 19-066
Page 2
Section 4. The Director of Administrative Services shall prepare and submit to
City Council quarterly a revised estimate of Operating Revenues.
i
Section 5. 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 18f day of June, 2019, by the following vote:
Vote Members of the City Council
AYES: Scharf, Chao, Paul, Sinks, Willey
NOES: None
ABSENT: None
ABSTAIN: None
SIGN
-1 I
Steven Scharf,Mayor Date
City of Cupertino
ATTEST:
ewc"� o
Grace Sclunidt, City Clerk Date
Resolution No. 19-066
Page 3
Exhibit A
FISCAL YEAR 2019-20 ADOPTED BUDGET
FINANCIAL OVERVIEW BY FUND
Special Revenue Debt Service Capital Project Enterprise Internal Service 2019-20 Adopted
Revenue Categories General Fund Fund Fund Funds Funds Funds Budget Total
Sales Tax $ 25,637,093 $ $ $ $ $ $ 25,637,093
Property Tax $ 24,703,218 $ $ $ $ $ $ 24,703,218
Transient Occupancy $ 9,666,056 $ $ $ $ $ $ 9,666,056
Utility Tax $ 3,198,644 $ $ $ $ $ $ 3,198,644
Franchise Fees $ 3,162,457 $ $ $ $ $ $ 3,162,457
Other Taxes $ 1,181,050 $ 453,404 $ $ $ $ $ 1,634,454
Licenses&Permits $ 2,524,000 $ - $ $ $ $ $ 2,524,000
Use of Money&Property $ 1,330,579 $ 15,700 $ $ $ 28,000 $ $ 1,374,279
Intergovernmental $ 354,547 $ 7,554,533 $ $ $ 15,000 $ $ 7,924,080
Charges for Services $ 13,233,225 $ 391,045 $ $ $ 5,859,827 $ 4,083,901 $ 23,567,998
Fines&Forfeitures $ 615,000. $ 10,000 $ $ $ - $ - $ 625,000
Miscellaneous $ 882,293 $ 2,198,521 $ $ 7,757,418 $ 66,000 $ - $ 10,904,222
Transfers In/Other Financing Uses $ 612,000 $ 1,318,000 $ 3,172,838 $ 14,657,719 $ 3,523,000 $ 4,045,652 $ 27,329,209.
TOTAL REVENUE $ 87,100,152 $ 11,941,203 $ 3,172,838 $ 22,415,137 $ 9,491,827 $ 8,129,553 $ 142,250,710 -
Special Debt Service Capital Project Enterprise Internal Service 2019-20 Adopted
!Appropriation Categories General Fund Revenue Fund Fund Funds Funds Funds Budget Total!
Employee Compensation $ 19,030,922 $ 1,025,568 $ $ $ 1,942,661 $ 1,336,390 $ 23,335,541
Employee Benefits $ 7,924,552 $ 504,775 $ $ $ 564,863 $ 1,596,993 $ 10,591,183
Materials $ 5,666,631 $ 728,939 $ $ $ 463,844 $ 916,106 $ 7,775,520
Contract Services $ 21,573,686 $ 727,897 $ $ 175,000 $ 4,644,862 $ 1,538,116 $ 28,659,561 p
Cost Allocation $ 9,786,477 $ 486,532 $ $ - $ 1,651,322 $ 947,459 $ 12,771,790
Capital Outlays $ 37,050 $ 3,035,000 $ $ 22,062,418 $ 1,400,000 $ - $ 26,534,468
Special Projects $ 3,692,335 $ 3,280,000 $ $ - $ 321,500 $ 704,600 $ 7,998,435
Contingencies $ 1,070,049 $ 36,666 $ $ 2,500 $ 254,184 $ 164,925 $ 1,528,324
Transfers Out $ 10,539,557 $ 12,000 $ $ 15,705,000 $ - $ - $ 26,256,557
Debt Service/Other Uses $ 783,209 $ - $ 3,172,838 $ - $ 280,953 $ 843,772 $ 5,080,772
TOTAL EXPENDITURES $ 80,104,468 $ 9,837,377 $ 3,172,838 $ 37,944,918 $ 11,524,189 $ 7,948,361 $ 150,532,151
I
j
Net Increase(Decrease)in Fund $ 6,995,684 $ 2,103,826 $ - $ (15,529,781) $ (2,032,362) $ 181,192 $ (8,281,441)
Balance/Retained Earnings