HomeMy WebLinkAboutReso 148-2011 RESOLUTION NO. 148 -2011
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AMENDING THE CITY'S 2011 -12 OPERATING
BUDGET IN ORDER TO ADJUST FIRST QUARTER REVENUES
AND EXPENDITURES
WHEREAS, City of South San Francisco ( "City ") staff has presented the City Council with
the 2011 -12 1st Quarter Financial Report, which is a review of the City's finances for the first
quarter of fiscal year 2011 -12; and
WHEREAS, it is recommended that the City Council review the 2011 -12 1st Quarter
Financial Report and approve the 1st Quarter 2011 -12 Budget Amendment Changes as indicated in
Summary of Budget Changes, attached hereto as "Attachment 1 ".
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco hereby amends the City's 2011 -12 Operating Budget consistent with the Summary of
Budget Changes, attached hereto as "Attachment 1".
* * * * *
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 14 day of
December, 2011 by the following vote:
AYES: Councilmembers Mark Addiego, Karyl Matsumoto, and Kevin Mullin,
Vice Mayor Pedro Gonzalez and Mayor Richard A. Garbarino
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST: f` ,„
/� ilerk
ATTACHMENT 1
1st Quarter Financial Review
Summary of Budget Changes
REVENUE
1. Property Tax Refund 70,334
2. Sales Tax 375,987
3. TOT 981,929
4. Charges for Services (289,607)
5. VLF taken by State (232,370)
6. SLESF added back (taken as part of adopted budget) 103,419
7. Lowered interest, consistent with 10 -11 (180,000)
1755202.1