HomeMy WebLinkAboutResolution - 3073 STATE OF CALIFORNIA ) RESOLUTION NO. 3073
�-- COUNTY OF RIVERSIDE ) ss
CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY OF SAN JACINTO, CALIFORNIA,
ADOPTING A BUDGET FOR FISCAL YEAR 2007-2008
WHEREAS, the City of San Jacinto operates on a fiscal year calendar
beginning on July 15t of each year and ending on June 30`h of the next year;
WHEREAS, the City of San Jacinto wishes to adopt a budget for the fiscal
year 2007-2008 for expenditures based on estimated revenues and available fund
balance reserves; and
WHEREAS, City staff has presented an overall operating budget and capital
budget containing the General Fund, Special Revenue Funds, Debt Service Funds,
Capital Project Funds and Enterprise Funds to meet the needs of the Citizens of the
City of San Jacinto; and
WHEREAS, the City Council has thoroughly examined and analyzed the
proposed budget in order to meet the needs of the Citizens of the City of San Jacinto;
and
NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of the
City of San Jacinto as follows:
Section 1. The budget for Fiscal Year 2007-2008, a copy of which is on file in the
City Clerk's Office, is hereby adopted with projected beginning General
Fund Unreserved and Designated Balances of $ 14,131,000, all other
City Fund Balances and Equity Fund Balances of $28,605,000, and
estimated Construction in Progress Fund Balance of $18,279,606; total
adopted expenditures of $51,764,625 including total adopted capital
expenditures of $16,411,257, to be funded by estimated revenues of
$47,557,735, use of available fund balance of $3,705,600 and interfund
transfers of$501,290. An interfund transfer to CIP Fund is estimated at
$16,347,183.
Section 2. All funds are authorized as presented in the budget document.
Section 3. City Manager is hereby authorized to make budget adjustments to the
adopted budget to reallocate appropriations between departmental
activities and between City Funds. Only the City Council, by motion and
affirmative majority vote, through minute action or resolution, may
increase or decrease the total estimated revenues and total adopted
expenditures in the FY 2007-08 Adopted City Budget.
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