The URL can be used to link to this page

Home My WebLink About2003-01-13 Ordinance 4777ORDINANCE NO. 4777 ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AUTHORIZING CLOSING OF THE BUDGET FOR FISCAL YEAR 2001-02 WHEREAS, 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 11, 2001 did adopt a budget for fiscal year 2001-02i and WHEREAS, fiscal year 2001-02 has ended and the financial results, although subject to post-audit adjustment, are now available and are herewith reported in summarized financial Exhibits "A" and "B" and "C" and "D" and "E" and "F" and "Gil prepared by the Director, Administrati ve Services, which are attached hereto, and by reference made a part hereofi and WHEREAS, pursuant to Section 2.28.080 of the Palo Alto Municipal Code, the City Manager 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 functional areas major activities, and objects within various departments as authorized by the City Manager. (E) Fiscal year 2001-02 appropriations which on July 1, 2002 were encumbered by properly executed, but uncompleted, purchase orders or contractsj and WHEREAS, the Council finds that adjustments to the fiscal year 2001-02 budget for certain Capital Improvement Projects and Fund Balancing Entries as shown on attached Exhibit "A", which impact reserve balances, should be approvedi and WHEREAS, the Council finds· that fiscal year 2001-02 appropriations in certain departments and categories, as shown on the attached Exhibit "B", while not encumbered by purchase order or contract, at year end should nevertheless be reappropriated in the fiscal year 2002-03 budget. NOW, THEREFORE, the Council of the City of Palo Alto does ORDAIN as follows: SECTION 1. The fiscal year 2001-02 encumbered balances for the departments and categories shown on Exhibit "D" shall be carried forward and reappropriated to those same departments and categories in the fiscal year 2002-03 budget. SECTION 2. The City Manager is authorized and directed: (A) To close the fiscal year 2001-02 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 2001- 02 budget as adopted or amended by ordinance of the Council; (B) To close various completed Capital Improvement Projects as shown in Exhibit "c" and move the balances into the respective reserve funds indicated in Exhibit "D"j (C) To effect the adjustments and additional appropriations to various Capital Improvement Projects as shown in Exhibit "A"; (D) To establish reserves as shown in Exhibits "E", "F" and "G" for all Funds as necessary to provide for: (1) A reserve for encumbrances and reappropriations in the various funds, the purpose of which is to carry forward and continue in effect the unexpended balance of appropriations for fiscal year 2001-02 departmental expenditures, which were authorized to be carried forward pursuant to Section 1 above; (2) Reserves for Advances to Other Funds and for Stores Inventory in accordance with ordinance and policy guidelines; (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. (E) To fund the Budget Stabilization and Infrastructure Reserve in accordance with the General Fund Reserves Policy adopted by the City Council; and (F) To fund the Equity Transfer Stabilization Reserve in accQrdance with the General Fund Reserves Policy adopted by the City Council. SECTION 3. The sum of Forty-One Thousand Dollars ($41,000) is hereby transferred from the Capital Improvement Project (CIP) 18918, Yacht Harbor Improvement to the General Fund Budget Stabilization Reserve, as described in Exhibit "A" • This transaction will reduce the amount appropriated to CIP Project 18918 from $156,104 to $115,104. SECTION 4. The sum of One Hundred Fifty Thousand Dollars ($150,000) is hereby transferred from the Capital Improvement Project (CIP) 10020, Office Space Renovation/Reallocation, to the General Fund Budget Stabilization Reserve as described in Exhibit "A". This transaction will reduce the amount appropriated to CIP Project 10020 from $701,773 to $551,773. SECTION 5. The sum of Fifty Five Thousand Dollars ($55,000) is hereby transferred from the Special Revenue University Avenue Parking District Fund to the General Fund Infrastructure Reserve relating to Capital Improvement Project 10102, Civic Center Infrastructure Improvements, as described in Exhibit "A". This transaction reduces the balance in the University Avenue Parking District Fund from $679,643 to $624,643 and will increase the balance in the General Fund Infrastructure Reserve from $30,359,000 to $30,414,000. SECTION 6. The sum of One Hundred Forty Four Thousand One Hundred Ten Dollars ($144,110) is hereby appropriated to the Capital Improvement Project (CIP) 8928, Services, Transformers, and Meters, from the Electric Distribution Rate Stabilization Reserve, as described in Exhibit "A". This transaction will reduce the balance in the Electric Distribution Rate Stabilization Reserve from $8,760,210 to $8,616,110. SECTION 7. The sum of Twenty Thousand Dollars ($20,000) is hereby reduced from Vehicle Replacement and Maintenance Fund and transferred to Capital Improvement Project (CIP) 81103, Golf Course Equipment Replacement as described in Exhibit "A". This transfer will increase the amount appropriated to CIP 81103 from $60,000 to $80,000 and will reduce the balance in the Vehicle Replacement & Maintenance Reserve from $15,622,623 to $15,602,623. SECTION 8. The sum of Twenty Nine Thousand Twenty-Six Dollars ($29,026) is hereby transferred from the Special Revenue Local Law Enforcement Block Grant Fund (LLEBG) to the Recreation Services Functional Area for the Community Services Department as operating revenue as described in Exhibit "A". This transaction will reduce the balance in the Local Law Enforcement Block Grant Fund (LLEBG) from $77,788 to $48,762. SECTION 9. The sum of Fifteen Thousand Two Hundred Thirty- Five Dollars ($15,235) is hereby transferred from the Capital Fund Project Expenditure to the General Fund Budget Stabilization Reserve due to an administrative reduction in capital project expense as described in Exhibit "A". This transaction will increase the balance in the Budget Stabilization Reserve from $22,658,765 to $22,674,000. SECTION 10. The General Fund Equity Transfer Stabilization Reserve is hereby created and is funded by the sum of Five Hundred Sixty-Five Thousand ($565,000) from the Electric Distribution Rate Stabilization Reserve and One Hundred Ninety-One Thousand ($191,000) from the Gas Distribution Rate Stabilization Reserve as described in Exhibit "A". The transactions will reduce the Electric Distribution Rate Stabilization Reserve from $8,472,000 to $7,907,000 and the Gas Distribution Rate Stabilization Reserve from $6,855,000 to $6,664,000. SECTION 11. The Electric Supply Rate Stabilization Reserve is hereby reduced by the sum of Seven Hundred Thousand ($700,000), as described in Exhibit "A". This series of transactions will reduce the balance in the Electric Supply Rate Stabilization Reserve from $48,611,000 to $47,911,000. SECTION 12. The Electric Fund Public Benefits Program Reserve is hereby increased by the sum of One Million Five Hundred Thousand Dollars ($1,500,000) to provide resources for the approved expenditures of the Electric Fund Public Benefits Program as described in Exhibit "A". The Electric Fund Public Benefits Program Reserve will have an ending balance' of $144,000. SECTION 13. Upon completion of the independent audit, det;:ailed financial statements reflecting the changes made by Sections 1 through 14 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 14. 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 15. 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 16. As provided in Section 2.04.350 of the Palo Alto Municipal Code, this ordinance shall become effective upon adoption. INTRODUCED AND PASSED: January 13. 2003 AYES: Burch, Freeman, Kishimoto, Kleinberg, Lytle, Morton, Mossar, Ojakian NOES: ABSTENTIONS: ABSENT: Beecham ATTEST: tr/JaM»-~ City Clerk APPROVED: c. d. .. Director ofl Administrative Services I