CC Resolution No. 21-052 Adopting Operating Budget for Fiscal Year 2021-22 RESOLUTION NO. 21-052
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING BUDGET FOR
FISCAL YEAR 2021-22 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 her estimates of anticipated revenues
and fund balances, has determined that estimated revenues and fund balances are III
adequate to cover appropriations, and has recommended the allocation of monies for
specified program activities;
IT RESOLVED that the City Council does hereby adopt
NOW, THEREFORE, BEty y p
the following sections as a part of its fiscal policy:
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Section 1: The estimates of available fund balances and anticipated resources
to be received in each of the several funds during Fiscal Year 2021-22, as submitted by the
City Manager in her 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 2021-22 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 her
opinion such transfers become necessary for administrative purposes.
Resolution No. 21-052
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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 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 15th day of June, 2021,by the following vote:
Vote Members of the City Council
AYES: Paul, Chao, Moore, Wei, Willey
NOES: None
ABSENT: None
ABSTAIN: None
SIGNED:
Darcy Paul, Mayor Date
City of Cupertino
ATTEST:
Kirsten Squarcia, City Clerk Date
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Resolution No. 21-052
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FISCAL YEAR 2021-22 PROPOSED BUDGET
FINANCIAL OVERVIEW BY FUND
BudgetSpecial Revenue Debt Service Capital Project Enterprise Internal Service 2021-22 Proposed
Revenue Categories General Fund Fund Fund Funds Funds Funds
Sales Tax $ 27,855,559 $ - $ - $ - $ - $ - $ 27,855,559
Property Tax $ 27,840,341 $ - $ - $ - $ - $ - $ 27,840,341
Transient Occupancy $ 3,000,000 $ $ $ $ $ $ 3,000,000
Utility Tax $ 3,245,447 $ - $ - $ - $ - $ - $ 3,245,447
Franchise Fees $ 3,380,986 $ $ $ $ $ $ 3,380,986
Other Taxes $ 1,248,720 $ 3,691,092 $ - $ - $ - $ - $ 4,939,812
Licenses&Permits $ 3,140,195 $ - $ - $ - $ - $ - $ 3,140,195
Use of Money&Property $ 1,249,220 $ 4,208 $ - $ - $ 693,000 $ - $ 1,946,428
Intergovernmental $ 5,093,946 $ 3,468,030 $ - $ - $ 14,000 $ - $ 8,575,976
Charges for Services $ 12,047,922 $ 1,547,078 $ - $ - $ 5,217,578 $ 4,678,201 $ 23,490,779
Fines&Forfeitures $ 225,000 $ 10,000 $ - $ - $ - $ - $ 235,000
Miscellaneous $ 1,000,555 $_ 87,057 $ - $ - $ 10,000 $ - $, 1,097,612
Transfers in/Other Financing Uses $ 320,000 $ 6,457,824 $ 2,621,000 $ - $ 886,801 $ 2,009,198 $ 12,294,823
TOTAL REVENUE $ 89,647,891 $ 15,265,289 $ 2,621,000 $ - $ 6,821,379-$ 6,687,399 $ 121,042,958
Special Revenue Debt Service Capital Project Enterprise Internal Service 2020-21 Proposed
Appropriation Categories General Fund Fund Fund Funds Funds Funds Budget Total
Employee Compensation $ 21,806,721 $ 1,772,223 $ - $ - $ 1,871,811 $ 1,736,052 $ 27,186,807
Employee Benefits $ 10,154,044 $ 905,260 $ - $ - $ 647,092 $ 2,015,467 $ 13,721,863
Materials $ 6,639,523 $ 959,847 $ - $ - $ 417,242 $ 1,093,356 $ 9,109,968 j
Contract Services $ 23,773,121 $ 1,451,016 $ - $ 175,000 $ 4,808,179 $ 1,481,641 $ 31,688,957
Cost Allocation $ 11,948,062 $ 1,325,945 $ $ - $ 1,034,107 $ 60,817 $ 14,368,931
Capital Outlays $ - $ 1,000,000 $ - $ - $ - $ - $ 1,000,000 j
Special Projects $ 3,221,800 $ 3,900,000 $ - $ - $ 229,000 $ 1,418,300 $ 8,769,100
Contingencies $ 426,779 $ 36,733 $ - $ - $ 134,527 $ 72,910 $ 670,949
Transfers Out $ 11,251,984 $ 381,000 $ - $ - $ - $ - $ 11,632,984
Debt Service/Other Uses $ 545,000 $ - $ 2,676,000 $ - $ 275,159 $ 969,469 $ 4,465,628
TOTAL EXPENDITURES $ 89,767,034 $ 11,732,024 $ 2,676,000 $ 175,000 $ 9,417,117 $ 8,848,012 $ 122,615,187
Net Increase(Decrease)in Fund
Balance/Retained Earnings $ (119,143) $ 3,533,265 $ (55,000) $ (175,000) $ (2,595,738) $ (2,160,613) $ (1,572,229)
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