HomeMy WebLinkAbout0187.092-I
March 19, 1992
THE HONORABLE CITY C(JUNCIl.
Palo Alto, California
Me~bers of the Council:
Report in .J2.rJ.e:(
10
The purpose of this report is to correct an error in the Budget
Amendment Ordina.nce (BP.Oj in the "1991-92 Midyear Financial
SummaryiCapital Improv~::nent Progr,:;Otl1 (C12) Finan~ial status Report
(CJo!:R: 154: 92). These errors ',,"'ere pointed out b:{ staff to the
Finance Committee at the February 25, 1992 meeting.
The midyear financial report BAO contained incorrect Wat3r Fund
sales changes. to the 1-:.';n-92 cl.l.d::;et. v,l,~.ter s31es are projected to
decline by a total of 51.7 ~i11ion by year end, not 51.54 ~illio~
a~ listed in the BAO.
T!1e correct numbers should be as [0110',,'s:
On Attachment] to the Ct·1F" "ii-deh is the BAO, Section 5 should
read "The net sum of $1,72~,500 is hereby reduced from Water
sales." The decrease to the Nater F\.md System IrnprO"ilenE:ilt
Reserve (SIR) :sho'...llo be $·1,100,226.
On E;.-:hibit 5 to the B.i:l.o, 11l.\:ater Sales" should silo ... · a decline
o! $1,902,500, ·,:hile Hl~iater Sales to City Depts." should
increase $180,000. These t~o charges ~ake a net decline of
$1,722,500. The total decrease to the Water Fund SIR should
be $1,100,226.
eMF: 187: 92
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Respectfully submitt.ed,
cr~
3111, STEELE
Bucl';;'et Manager
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EMILY P.A.iXltISON
Director o! inan~e
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WILL k"l ZANER
Ci t y ) Manager
Related staff Report~ CMR:154:92
C~:187~92 2
L
Re.ised ~;;;~
ORDINANCE NO.
ORDINA...'ol'CE OF ·n:E COUNCIL OF T'HE CITY OF' PALO .It..L·re
AMENDING THE BUDGET FOR FISCAL YEAR 1991-92
TO }..OJUST SIJDGF'TED REVENUES AND EXPENDrTffi(ES IN ACCORDANCE WITH
RECOMMENDATIONS IN THE MID-YEAR REPORT
WHEREAS j pursuant to the provisio~s of section 12 of Article
III of the Charter of the City of Palo Alto, the Council on J~ne
24, 1991 did adopt a budget for fiscal year 1991-92; a~d
WHEREAS, after re-",oiewing the current budgeted revenues and
expenaitures for fiscal year 1991-92, adjuzt1'!1ents to the budget are
recommended to more accur<i.tely reflect yec:.r-end projections
including revisions to the Municipal Fee Schedule.
NOW, TfiE..~EFORE; the Council of the City of ?3.10 Alto does
ORDAIN as fol1o~s:
~E.CTION 1~ The net sum of six Hund~ed Two Thousand Eight
Hundr··:l Fifty Dollars ($602.850) is hereby decreased in the
budqet.ed revenues in t,he General Fund as displayed on Exhibit "A",
which is attached to this ordinance and incorporated herein by this
refereilce .
SECTION 2. Th~ net sum of Three
Thousand Four Hundred Eighty Six Dollars
increased in the budge.ted expenditures in
displayed on Exhibit "A-.
Hundred Tv.'enty Six
{$326,486) is hereby
the General Fund as
SECTION 2.1. The budgeted l"E!payment of Genera,l contil1gency
FUnds will not be needed, as no Advance Reserve funding ~as used in
199C-SlL This will increase the budgeted Reserve for Capital
Projects by Six Hundred Fifty Thousand Dollars ($650, :OOO) as
displayed on Exhibit "A~~
SECTION 2.:2. Ttle Gene-:.-al Fund Advance:; t.o Other Funds is
decreased by Three Hundred Thousand Dollars ($300,000) to reflect
an additional payback fro~ the storm Drainage Fund. This
transaction will increase the Reserve for capital Projects by Three
Hundred Thousand Dollars ($300,OOO) as displayed on Exhibit -A-.
SECTION 3. The Reserve for capital projects 'Will increase
by T".tIO Hundred Twenty One 'thousand Six: Hundred Sixty Four Dollars
($221,664), and the Reserve for Streets and Sidewalks ~ill decrease
Two Hundred One Thoasand Dollars ($201,000), as displayed on
Exhibit "A-.
SECTION 4~ The net sum of Sixty Thousand Dollars ($60 1 000)
is hereby added to the Printing Services Internal Service Fund, and
the Reserve for Retained Earnings in the printing Services Internal
Service Fund is hereby decreased .
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SECTION 5. The net sun'. of One Million Seven Hundred T;.;enty
'I"f.'o Ttlousand Five !-l'...lndred Dollars ($1,722 1 500) is: hereby reduced
from ';olter Sales in the Water Fur.d and Six Hundred Twenty Tt.'o
Thousand Two Hundred Seventy Four De>llars ($62:2~274) is hereby
reduced fro~ expenditures. decre~sing the System I~pyovement
Reserve One Million One Hundred Thousand Two Hundred Twenty Six
Dollars ($11100/226) as displayed on Exhibjt ftB~j ~hich is attached
to this ordinance and incorporated herei~ by this reference.
SECT rON 6, Ti".e sum of Tlt.'a Hundred Eighty Tt.ree Thousand
Dollars ($283,000) is added to Interest Income ir. the Elect.ric
Fund, and the sum of Thirty Six Thousand Four Hundred Eighty one
Dollars ($36,481) is reduced from expenditures: in the Electric
Fund, hereby increasing the Transfer stabilization P.eserve by Three
Hundred Nineteen Thousand Four Hundred Eighty One Dollars
($319,481) as displayed on Exhibit "8".
SECTION 7. The net sum of Eight Thousand Eight Hundred
'lwenty Nine Dollars ($8,829) is herel:..y reduced from expenditures in
the Gas Fund and the System Improvement Reserve is correspondingly
increased, as displayed on Exhibit "B".
SEC'!'ION ~_ Th.e net sum of One Hundred Seventy Eight
Thousand Eight Hundred Dollars ($178,800) is h.erebi' reduced from
revenues in the Refuse zund and the net sum of Sixty Four Thousand
Two Hundred Sixty Five Dollars ($64.2~5) is added to expenditures,
hereby reducing the System Improvement Reserve by Two Hundred Forty
Three ThOusand Sixty FiVE Dollars ($243,065). as displayed on
Exhibit "BI!.
SEC'!'ION 9. 'rhe net sum of One Hundred Eighty Thousand
Dollars ($180,000) is hereby added to revenues in the Waste.'water
Fund; the sum af Th irtl' Five Thousand Seven Hundred Eighteen
Dollars ($35,718) is hereby reduced from expenditures, and the
Systezu Improvement Reserve is hereby increased by Two Hundred
Fifteen Thousand Seven Hundred Eighte~n Dollars ($215~ 718-), as
displayed on Exhibit "8".
SECTION 10. ·The sum of Eight HU!'ldred Tho·...zsand Dollars
($800,000) in revenue is added from bond funding in the Storm
Drainage Fun'i, and Ninety seven Thousand Dollars ($97,OOO} in
Interest Income is added to revenues; the sum of Three Thousand Two
Hundred Forty Nine Dollars ($3,249) is reduced from expenditures;
and Three Hundred Thousand Dollars ($300,000) is transferred to the
General Fund as Loan Payback hcreby increasing the SystEm
IlIlprovement Reserve by Six Hundred Thousand Two Hundrcd Forty Nine
Dollars ($600,249) I as displayed on Exhibit "8",
SECTION 11. The council of the City of Palo Alto hereby
finds that the enactment of the ordinance is not a project under
the California Environmental Quality Act a:1d, therefore, no
enviromnental impact asseSS'll'1ent is necessary.
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SECTION 12. As provided in section 2:.04.375 of the Pale
Alto Municipal Code, this ot"dinance shall become effective upon
adioptiol"l.
INTRODUCED AND PASSED:
AYES:
NOES:
ABSTDi'TI01'\S:
ABSENT:
ATTEST: APPROVED:
Cltr Clerk Mayor
APPROVED AS TO FORM:
Asst. City Attorney
APPROVED:
city Manager
Director of Finance
Director of Public works
Director of utilities 91-2.14
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