HomeMy WebLinkAboutReso-109-2005
RESOLUTION NO.1 09-2005
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING VARIOUS BUDGET
ACTIONS THAT ALLOW STAFF TO CLOSE THE
BOOKS FOR FISCAL YEAR 2004-05
WHEREAS, staff recommends authorizing various revenue and expenditure changes as
shown in Exhibit A attached to this Resolution.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco that the City Council hereby approves various budget actions that allow staff to close
books for the 2004-05 fiscal year. Taking these actions will result in a General Fund
Undesignated Reserve of approximately $4.1 million as of June 30, 2005.
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I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the City Council of the City of South San Francisco at a regular meeting held on the 28th day of
September 2005 by the following vote:
AYES:
Councilmembers Richard A. Garbarino and Karvl Matsumoto. Mayor Pro Tern
Joseph A. F emekes and Mayor Raymond L. Green
NOES: None
ABSTAIN: None
ABSENT: Councilmember Pedro Gonzalez
ATTEST:
o
/JjiuO- Ih.~
City Clerk
Exhibit A to Resolution 109-2005
Budget Amendment Items:
Oyster Point Capital Project
Increase the project budget by $2.25 million, with funding from:
- $1.9 million Gateway Redevelopment bond proceeds;
- $ .2 million from higher utility reimbursements;
- $ .15 million from Shearwater Redevelopment project area funds.
Increase Shearwater Redevelopment tax by $766,0000, and increase transfers to the
Low/Moderate Income Housing Fund by $156,000.
Increase Downtown Redevelopment Area tax increment receipts by $417,000, and increase
transfers to the Low/Moderate Income Housing Fund by $78,000.
Increase Traffic Impact Fee Revenue by $13,000, and increase expenditures by $13,000.