HomeMy WebLinkAbout2004-06-28 Ordinance 4834ORDINANCE NO. 4834
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 2003-04 TO RETURN
UNSPENT CAPITAL IMPROVEMENT PROGRAM PROJECT BALANCES
TOTALING $4,321,436 CONSISTING OF $150,479 TO THE GENERAL
FUND BUDGET STABILIZATION RESERVE AND $4,170,957 TO THE
INFRASTRUCTURE RESERVE
SECTION 1. The City Council of the City of Palo Alto finds and
determines as follows:
A. Pursuant to the prOV1Slons of Section 12 of Article III of
the Charter of the City of Palo Alto, the Council on June 16, 2003
did adopt a budget for fiscal year 2003 04; and
B. In 2003-04, staff focused on reducing the Infrastructure
Management Plan (IMP) budget backlog while preserving City Council
priorities and proposing some new funding for major City projects;
and
C. This was done recognlzlng competing interests from City
Departments and the need to reduce the impact on the 2004-05
General Fund budget during the continuing lean budget climate the
City is experiencing; and
D. Staff worked diligently to reduce the project backlog while
taking a hard look at what could reasonably be accomplished in
2004-05; and
E. While this process may result in more frequent Capital BAO
requests coming before Council for review, it represents an effort
to align the annual Capital budget plan with projected expenditures
for each year; and
F. City Council authorization is needed to return the capital
appropriations to their respective reserves; and
G. City Council authorization is needed to amend the 2003-04
budget as hereinafter set forth.
SECTION 2. The City Council hereby authorizes the adjustments
indicated to various Capital Improvement Projects as shown in
Exhibit D attached hereto. These changes will impact the General
Fund Budget Stabilization and the Infrastructure Reserve.
SECTION 3. The General Fund Infrastructure Reserve shall be
increased by Four Million One Hundred Seventy Thousand Nine Hundred
Fifty-Seven Dollars ($4,170,957) for designated unspent CIP project
balances as shown in Attachment D attached hereto.
SECTION 4. The General Fund Budget Stabilization Reserve shall
be increased by One Hundred Fifty Thousand Four Hundred Seventy-
Nine Dollars ($150,479) for designated unspent CIP project balances
as shown in Attachment D attached hereto.
SECTION 5. This transaction will increase the General Fund
Budget Stabilization Reserve from $21,050,175 to $21,200,654 as
shown is Attachment B attached hereto.
SECTION 6. This transaction will increase the General Fund
Infrastructure Reserve from $32,887,000 to $37,057,957 as shown in
Attachment C.attached hereto.
SECTION 7. As specified in Section 2.28.080(c) of the Palo
Alto Municipal Code, a majority vote of the City Council is
required to adopt this ordinance.
SECTION 8. The Council of the City of Palo Alto hereby finds
that this is not a proj ect under the California Environmental
Quality Act and, therefore, no environmental impact assessment is
necessary.
SECTION 9. As provided in Section 2.04.350 of the Palo Alto
Municipal Code, this ordinance shall become effective upon
adoption.
INTRODUCED AND PASSED: June 28, 2004
AYES:
.NOES:
BEECHAM, BURCH, CORDELL, FREEMAN, KLEINBERG, MOSSAR,
OJAKIAN
ABSTENTIONS:
ABSENT: KISHIMOTO, MORTON
APPROVED AS TO FORM:
Senior Asst. City Attorney
APPROVED:
< Mayor City Manager
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