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Home My WebLink About2014-02-24 Ordinance 5236ORDINANCE NO. 5236 ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AUTHORIZING CLOSING OF THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2013 The Council of the City of Palo Alto does ordain as follows: SECTION 1. The Council of the City of Palo Alto finds and determines as follows: A. Pursuant to the provisions of Section 12 of Article III of the Charter of the City of Palo Alto and as set forth in Section 2.28.070 of the Palo Alto Municipal Code, the Council on June 18, 2012 did adopt a budget for fiscal year 2013; and B. Fiscal year 2013 has ended and the financial results, although subject to post-audit adjustment, are now available and are herewith reported in summarized financial Exhibits "1", "2", "3", "4", "5", and "6" prepared by the Director , Administrative Services, which are attached hereto, and by reference made a part hereof. SECTION 2. Pursuant to Section 2.28".080 of the Palo Al to Municipal Code, the City Manager during fiscal year 2013 did amend the budgetary accounts of the City of Palo Alto to reflect: A. Additional appropriations authorized by ordinance of the City Council. B. Amendments to employee compensation plans adopted by the City Council. C. Transfers of appropriations from the contingent account as authorized by the City Manager. D. Redistribution of appropriations between di visions, cost centers, and obj ects wi thin various departments as authorized by the City Manager. E. Fiscal Year 2013 appropriations which on July 1, 2012 were encumbered by properly executed, but uncompleted, purchase orders or contracts . . 1 SECTION 3. The Council hereby approves adj ustments to the fiscal year 2013 budget for Fund Balancing Entries as shown on attached Exhibit 1. SECTION 4. The Council hereby re-appropriates fiscal year 2013 appropriations in certain departments and categories, as shown on the attached Exhibit 2, which were not encumbered by purchase order or contract, at year end into the fiscal year 2014 budget. SECTION 5. The fiscal year 2013 encumbered balances for the departments and categories shown on Exhibi t 4 shall be carried forward and re-appropriated to those same departments and categories in the fiscal year 2014 budget. SECTION 6. directed: The City Manager is authorized and A. To close the fiscal year 2013 budget accounts in all funds and departments and, as required by the Charter of the City of Palo Alto, to make such interdepartmental transfers in the 2013 budget as adopted or amended by ordinance of the Council; and B. To close and adjust various Capital Improvement Projects (CIP) as shown in Exhibit 3 and move all completed CIP to their respective reserve funds indicated in Exhibit 1; and C. To establish reserves as shown in Exhibits 5 and 6 for all Funds as necessary to provide for: (1) A reserve for encumbrances and re~ appropriations in the various funds, the purpose of which is to carry forward into the fiscal year 2014 budget and continue, in effect, the unexpended balance of appropriations for fiscal year 2013 departmental expenditures as shown in Exhibits 5 and 6; and (2) Reserves for Advances to Other Funds, Stores Inventory, and other reserves in accordance with ordinance and policy guidelines as shown in Exhibit 5; and 2 (3) A reserve for general contingencies of such amount that the City Council has approved; and (4 ) Reserves for utilities plant replacement, rate stabilization, and other reserves in accordance with Charter and policy guidelines as shown Exhibit 6. D. To fund the Budget Stabilization Reserve in accordance with the General Fund Reserves Policy adopted by the City Council. SECTION 7. The General Fund Reserve is hereby decreased by the Fifty Four Thousand Four Hundred ($454,434) as described in Exhibit 1. change the General Fund Reserve amount Budget Stabilization sum of Four Hundred Thirty Four Dollars This transaction will to $30,355,000. SECTION 8. The Water Rate Stabilization Reserve is hereby decreased by the sum of Fifty Nine Thousand One Hundred Dollars Fifty Four ($59,154) as described in Exhibit 1. This transaction will change the Water Rate Stabilization Reserve to $17,272,000. SECTION 9. The Electric Distribution Rate Stabilization Reserve is hereby decreased by the sum of One Hundred Ninety One Thousand Eight Hundred Sixteen Dollars ($191,816) as described in Exhibit 1. This transaction will change the Electric Distribution Rate Stabilization Reserve to $3,705,000. SECTION 10. The Electric Supply Rate Stabilization Reserve is hereby decreased by the sum of Twenty Five Thousand Four Hundred Fifty Five Dollars ($25,455) as described in Exhibit 1. This transaction will change the Electric Supply Rate Stabilization Reserve to $65,324,000. SECTION 11. The Fiber Optics Rate Stabilization Reserve is hereby decreased by the sum of Nine Thousand Three Hundred Thirty Five Dollars ($9,335) as described in Exhibi t 1. This transaction will change the Fiber Optics Rate Stabilization Reserve to $15,290,000. SECTION 12. The Gas Distribution Rate Stabilization Reserve is hereby decreased by the sum of Ninety Six 3 Thousand One Hundred Thirty Seven Dollars ($96,137) as described in Exhibit 1. This transaction will change the Gas Distribution Rate Stabilization Reserve to $5,025,000. SECTION 13. The Wastewater Collection Rate Stabilization Reserve is hereby decreased by Fifty Seven Thousand Three Hundred Fifty Three Dollars ($57,353) as descrihed in Exhibit 1. This transaction will change the Wastewater Collection. Rate Stabilization Reserve to $5,443,000. SECTION 14. The Wastewater Treatment Rate Stabilization Reserv~ is hereby decreased by the sum of One Hundred Twenty Nine Thousand Seven Hundred Eleven Dollars ($129,711) as described in Exhibit 1. This transaction will change the Wastewater Treatment Rate Stabilization Reserve to $6,622,000. SECTION 15. The Refuse Rate Stabilization Reserve is hereby decreased by the sum of Fifty One Thousand Six Hundred Sixty Six Dollars ($51,666) as described in Exhibit 1. This transaction will change the Refuse Rate Stabilization Reserve to ($2,766,000). SECTION 16. The Storm Drainage Rate Stabilization Reserve is hereby decreased by the sum of Twenty Thousand Six Hundred Eighty Nine Dollars ($20,689) as described in Exhibit 1. This transaction will change the Storm Drainage Rate Stabilization Reserve to $1,958,000. SECTION 17. The Community Development Block Grant Fund is hereby decreased by Eight Hundred Twenty Seven Dollars ($827) as described in Exhibit 1. This transaction will change the Community Development Block Grant Fund Balance to $3,371,000. SECTION 18. The Vehicle Replacement and Maintenance Fund is hereby decreased by Thirty Two Thousand Fifty Three Dollars ($32,053) as described in Exhibit 1. This transaction will change the Vehicle Replacement and Maintenance Fund Balance to $11,251,000. SECTION 19. The Technology Fund is hereby increased by Three Hundred Eighty Three Thousand Eight Hundred Thirty Nine Dollars ($383,839) as described in Exhibit 1. This transaction will change the Technology Fund Balance to $19,910,000. 4 SECTION 20. The Printing and Mailing Services Fund is hereby decreased by Four Thousand Eight Hundred Fifty Two Dollars ($4,852) as described in Exhibit 1. This transaction will change the Printing and Mailing Services Fund Balance to $0. SECTION 21. The Capital Projects Fund Reserve is hereby increased by Seven Hundred Eighty Two Thousand Two Hundred Ten Dollars ($782,210) as described in Exhibit 1. This transaction will change the Capital Projects Fund Balance to $77,954,000. SECTION 22. Upon completion of the independent audit, detailed financial statements reflecting the changes made by the Sections 7 through 18 of this ordinance shall be published as part of the annual financial report of the City as required by Article III, Section 16, of the Charter of the City of Palo Alto and in accordance with generally accepted accounting principles. SECTION 23. As specified in Section 2.28.080 (a) of the Palo Alto Municipal Code, a two-thirds vote of the City Council is required to adopt this ordinance. SECTION 24. The Council of the City of Palo Alto hereby finds that the enactment of this ordinance is not a project under the California Environmental Quality Act and, therefore, no environmental impact assessment is necessary. SECTION 25. As provided in Section 2.04.330 of the Palo Alto Municipal Code, this ordinance shall become effective upon adoption. 5 INTRODUCED AND PASSED: February 24, 2014 AYES: BERMAN, HOLMAN, KLEIN, KNISS, PRICE, SCHARFF, SCHMID, SHEPHERD NOES: ABSTENTIONS: ABSENT: BURT APPROVED AS TO FORM: ~fd City Attorney APPROVED: Director Services 6