HomeMy WebLinkAbout2010-12-25 Ordinance 5071ORDINANCE NO.5071
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR FISCAL YEAR 2010 TO REINSTATE A
$809,000 TRANSFER FROM THE GENERAL FUND BUDGET
STABILIZATION RESERVE TO THE TECHNOLOGY FUND.
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, the Council on June 15,
2009 did adopt a budget for Fiscal Year 2010; and
B. On December 1, 2009, staff reported to the Finance
Committee a one-time budget change to solve a $4.8 million
deficit for the Fiscal Year 2009; and
C. The one-time budget change deferred a $4.8 million cost
allocation transfer from the General Fund to the Internal Service
Fund-Technology Fund in FY 2009; and
D. Pursuant to discussions with the Finance Committee, a
motion was passed to approve staff's recommendation to close out
the 2009 Fiscal Year by deferring the $4.8 million transfer to
the Technology Fund; and
E. The Finance Committee also passed a motion recommending
staff submit a Budget Amendment Ordinance to Council amending the
FY 2010 Technology Fund Budget in the amount of $800,000, which
was the excess from FY 2009 year end close, plus any amount
necessary to fund all of the Tech expenditures that had been
planned for FY 2010; and
F. City Council authorization is needed to transfer
$809,000 from the General Fund to the Internal Service Fund-
Technology Fund.
SECTION 2.
A. The Budget Stabilization Reserve is hereby decreased by
the sum of Eight Hundred Nine Thousand ($809,000). As a result of
this change the Budget Stabilization Reserve will be reduced from
Twenty Two Million Twenty Two Thousand Three Hundred Sixty
One($22,022,361) to Twenty One Mi Two Hundred Thirteen Thousand
Three Hundred Sixty One ($21,213,361).
B. The Internal Service-Technology Fund is hereby sed
by the sum of Eight Hundred Nine Thousand ($809,000). As a result
of change the Internal Service-Technology Fund Reserve will be
increased from Fifty One Thousand Four Hundred ($51,400) to Eight
Hundred Sixty Thousand Four Hundred ($860,400).
SECTION 3.
As spe fied in Section 2.28.080(a) of the Palo Municipal
Code, a two-thirds vote of the City Council is required to adopt
this ordinance
====~=-~4. The Council of the City of Palo hereby finds
necessary.
Muni
not a project under the California Environmental
and, therefore, no environmental impact assessment is
As provided in Section 2.04.350 the Palo Alto
this ordinance shall become effective upon adoption.
INTRODUCED AND PASSED: January 25, 2010
AYES: BURT, ESPINOSA, HOLMAN, KLEIN, PRICE, SCHARFF, SCHMID,
SHEPHERD, YEH
NOES:
ABSTENTIONS:
ABSENT:
~~--"---=--~ Clty Attorney
APPROVED: