HomeMy WebLinkAboutResolution - 2925 STATE OF CALIFORNIA ) RESOLUTION NO. 2925
COUNTY OF RIVERSIDE ) ss
CITY OF SAN JACINTO )
RESOLUTION OF THE CITY OF SAN JACINTO, CALIFORNIA,
ADOPTING A BUDGET FOR FISCAL YEAR 2006-2007
WHEREAS, the City of San Jacinto operates on a fiscal year calendar beginning
on July 15` of each year and ending on June 30t" of the next year; and
WHEREAS, the City of San Jacinto wishes to adopt a budget for the fiscal year
2006-2007 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.
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 2006-2007, a copy of which is on file in the
City Clerk's Office, is hereby adopted with projected beginning City Fund Balances of
$23,274,534, total adopted expenditures of $47,334,401, to be funded by estimated
revenues of $47,291,785, use of available fund balance of $2,992,563 and interfund
transfers of $3,333,350.
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 2006-07 Adopted City Budget.
Section 4. Rescind any and all previous General Fund Reserve Designations
and Designate four General Fund beginning Designated Reserves as follows:
Contingency reserve at a minimum of 15% or $3,000,000; Development Services
reserve of $4,000,000; Equipment Replacement reserve of $1,000,000 and a Capital
Projects reserve of $5,189,017 for a total beginning General Fund Balance Designated
Reserves of$13,189,017.
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