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Home My WebLink About2013-02-04 Ordinance 5184ORDINANCE NO. 5184 ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AUTHORIZING CLOSING OF THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2012 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 20, 2011 did adopt a budget for fiscal year 2012; and B. Fiscal year 2012 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 Alto Municipal Code, the City Manager during fiscal year 2012 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 divisions, cost centers, and obj ects wi thin various departments as authorized by the City Manager. E. Fiscai Year 2012 appropriations which on July 1, 2011 were encumbered by properly executed, but uncompleted, purchase orders or contracts. Page 1 of 5 SECTION 3. The Council hereby approves adjustments to the fiscal year 2012 budget for Fund Balancing Entries as shown on attached Exhibit 1. SECTION 4. The Council hereby re-appropriates fiscal year 2012 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 2013 budget. SECTION 5. The fiscal year 2012 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 2013 budget. SECTION 6. directed: The City Manager is authorized and A. To close the fiscal year 2012 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 2012 budget as adopted or amended by ordinance of the Council; and B. To close various completed 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 2013 budget and continue, in effect, the unexpended balance of appropriations for fiscal year 2012 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 Page 2 of 5 (3) A reserve for general contingencies of such amount that the City Council has approved; and ( 4 ) Reserves for utilities plant rate stabilization, and other accordance with Charter guidelines as shown Exhibit 6. replacement, reserves in and policy 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 Budget Stabilization Reserve is hereby increased by the sum of One Hundred Ten Thousand One Hundred Seventy Six Dollars ($110,176) as described in Exhibit 1. This transaction will change the General Fund Reserve amount to $28,122,000. SECTION 8. The Electric Distribution Rate Stabilization Reserve is hereby increased by the sum of One Hundred Seven Thousand Nine Hundred Sixty Two Dollars ($107,962) as described in Exhibit 1. This transaction will change the Electric Distribution Rate Stabilization Reserve to $8,680,000. SECTION 9. The Gas Distribution Rate Stabilization Reserve is hereby increased by the sum of Ninety Seven Thousand Nine Hundred Twenty Two Dollars ($97,922) as described in Exhibit 1. This transaction will change the Gas Distribution Rate Stabilization Reserve to $8,374,000. SECTION 10. The Wastewater Collection Rate Stabilization Reserve is hereby increased by One Hundred Forty Four Thousand Nine Hundred Eighty Dollars ($144,980) as described in Exhibit 1. This transaction will change the Wastewater Collection Rate Stabilization Reserve to $4,751,000. SECTION 11. The Water Rate Stabilization Reserve is hereby increased by the sum of Four Hundred Eight Thousand One Hundred Dollars ($408, 100) as described in Exhibit 1. This transaction will change the Water Rate Stabilization Reserve to $7,997,000. Page 3 of 5 SECTION 12. The Wastewater Treatment Rate Stabilization Reserve is hereby increased by the sum of Two Million Two Hundred Sixty One Thousand Six Hundred Sixty Six Dollars ($2,261,666) as described in Exhibit 1. This transaction will change the Wastewater Treatment Rate Stabilization Reserve to $7,461,000. SECTION 13. The University Avenue Parking Permit Fund is hereby increased by Five Hundred Ninety Six Thousand Dollars ($596,000) as described in Exhibit 1. This transaction will change the University Avenue Parking Permit Fund to $976,000. SECTION 14. The Stanford Development Fund Reserve is hereby decreased by Two Hundred Fifty Thousand Dollars ($250,000) as described in Exhibit 1. This transaction will change the Stanford Development Fund Balance to $21,865,000. SECTION· 15. The Capital Proj ects Fund Reserve is hereby decreased by Four Million Fifty Two Thousand Seventy Five Dollars ($4,052,075) as described in Exhibit 1. This transaction will change the Capital Proj ects Fund Balance to $53,798,000. SECTION 16. The Golf Course Debt Service Fund Reserve is hereby decreased by Six Hundred Sixty Seven Thousand Two Hundred Sixty Two Dollars ($667,262) as described in Exhibit 1. This transaction will change the Golf Course Fund Reserve to $0. SECTION 17. The Library Proj ect Debt Service Fund Reserve is hereby increased by Three Million Four Hundred Fifty Six Thousand Seventy Five Dollars ($3,456,075) as described in Exhibit 1. This transaction will change the Library Project Debt Service Fund Balance to $5,~78,000. SECTION 18. The Technology Fund net assets are hereby decreased by Twenty Two Thousand Nine Hundred Twenty Nine Dollars ($22,929) as described in Exhibit 1. This transaction will change the Technology Fund Balance to $17,494,000. Page 4 of 5 SECTION 19. 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 Al to and in accordance with generally accepted accounting principles. SECTION 20. 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 21. The Council of the City of Palo Al to 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 22. As provided in Section 2.04.330 of the Palo Alto Municipal Code, this ordinance shall become effective upon adoption. INTRODUCED AND PASSED: February 4, 2013 AYES: BERMAN, BURT, HOLMAN, KLEIN, SCHARFF, SCHMID, SHEPHERD NOES: ABSTENTIONS: ABSENT: Mayor APPROVED AS TO FORM: APPROVED: Page 5 of 5 KNISS, PRICE,