HomeMy WebLinkAboutReso 92-2009RESOLUTION NO. 92-2009
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING VARIOUS BUDGET ACTIONS
THAT ALLOW STAFF TO CLOSE THE BOOKS FOR FISCAL
YEAR 2008-09
WHEREAS, staff recommends authorizing various budget changes as described below.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco hereby approves various budget actions shown that allows staff to close books for the
2008-09 fiscal year. Taking these actions will result in a General Fund Undesignated Reserve of
approximately $6.2 million as of June 30, 2008. Those budget actions are:
Increase General Fund revenue budgets by $2.8 million
Transfer $100,000 from the General Fund to the Storm Water Fund to keep it solvent
despite static revenues;
Increase the Redevelopment Agency revenue budget by $4.8 million to reflect higher
supplemental property tax increment payments received in June 2009;
Increase the Redevelopment Agency budget by $1.5 million for Pass Through
Payments to taxing entities due to those higher revenues;
Increase the transfers from the Redevelopment Fund to the Low-Moderate Income
Housing Fund by $.85 million to reflect those higher revenues.
AND, BE IT FURTHER RESOLVED that the Director of Finance is hereby authorized
to make any budget changes consistent with what is presented herein as recommended by the
City's external auditors for 2007-08 in order to close the books for Fiscal Year 2008-09.
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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 October,
2009 by the following vote:
AYES: Councilmembers Pedro Gonzalez Richard A. Garbarino and Kevin Mullin
Vice Mayor Mark Addiego and Mayor Karyl Matsumoto
NOES: None
ABSTAIN:
ABSENT: None
ATT ST:
ity Clerk