HomeMy WebLinkAboutReso 22-2018 (18-30)City of South San Francisco P.O. Box 711 (City Hall,
400 Grand Avenue)
South San Francisco, CA
City Council
Resolution: RES 22 -2018
File Number: 18 -30 Enactment Number: RES 22 -2018
RESOLUTION APPROVING THE TRANSFER OF ALL BUDGET
APPROPRIATIONS AND EXPENSES RELATED TO THE OYSTER
POINT DEVELOPMENT TO A NEW AND SEPARATE FUND.
WHEREAS, the City of South San Francisco's accounting policy dictates that intrafand transfers require
City Council approval; and
WHEREAS, the Oyster Point Development project is complex in nature, with multiple funding sources,
including City, developer, and former Redevelopment Agency funds; and
WHEREAS, to simplify and account for transactions related to the Oyster Point Development, staff
recommends that the City Council authorize transfer of all related budget appropriations, assets,
liabilities, equities, revenues, and expenditures, as illustrated in Exhibit A, attached herein, to a new
capital fund.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San Francisco does
hereby authorize transfer of all Oyster Point Development budget appropriations, assets, liabilities,
equities, revenues, and expenditures to a new capital fund.
At a meeting of the City Council on 1/24/2018, a motion was made by Richard Garbarino, seconded by
Pradeep Gupta, that this Resolution be approved. The motion passed.
Yes: 5 Mayor
by
Councilmember Ga no, Mayor Pro Tem Matsumoto,
rupa, end Co member Addiego
City of South San Francisco Page 1
1/17/2018 10:23:25PM
Project YTD/ITD Report
CITY OF SOUTH SAN FRANCISCOpaProjectStatusYtd
Page: 1Through: 1/17/2018
Project:701701 OYSTER POINT DDA - LEGAL AND PROJ MGMT YTD ITD
Start date:
Funding Source Budget Encumbrances Actual Balance Budget Encumbrances Actual Balance
01 GENERAL FUND 100 0.00 0.00 0.00 0.00 127,000.00 0.00 0.00 127,000.00
05 DEVELOPER CONTRIBUTIONS 0.00 0.00 0.00 0.00 2,000.00 0.00 0.00 2,000.00
11 OTHER EXTERNAL SOURCES 150,000.00 0.00 623,085.72-473,085.72 463,800.00 0.00 1,067,069.23-603,269.23
Project 701701 Funding total: 150,000.00 0.00 623,085.72 -473,085.72 592,800.00 0.00 1,067,069.23 -474,269.23
Expense Balances Budget Encumbrances Actual Balance Budget Encumbrances Actual Balance
140 IN-HOUSE STAFFING 0.00 0.00 42,154.30-42,154.30 0.00 0.00 45,731.66-45,731.66
321 PHASE IC - DW 0.00143,939.19 189,626.95-333,566.14 35,000.00143,939.19 383,346.62-492,285.81
322 PHASE 1D - LAND IMPROVEMENTS 0.00 0.00 0.00 0.00 35,000.00 0.00 7,868.5027,131.50
331 PHASES IIID-IVD RES ENTITLEMENT BG 150,000.00233,369.86 407,499.96-490,869.82 380,800.00233,369.86 460,042.54-312,612.40
332 PHASE IIC 0.0034,447.00 0.00-34,447.00 0.0034,447.00 7,260.30-41,707.30
333 MUNICIPAL SERVICES STUDY ML/BG 0.00 0.00 2,263.75-2,263.75 80,000.00 0.00 19,277.5060,722.50
335 KILROY TRANSACTION EXPENSE ML 0.00 0.00-1,740.001,740.00 0.00 0.00 32,939.00-32,939.00
337 ENVIRONMENTAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
338 OTHER INVOICES-CITY TO REIMB OPD-ML 0.00 0.00 0.00 0.00 47,000.00 0.00 0.00 47,000.00
870 Section 8.7 - Recovery of Agency Costs 0.00 0.00 0.00 0.00 15,000.00 0.00 15,000.00 0.00
Project 701701 Expense total: 150,000.00 411,756.05 639,804.96 -901,561.01 592,800.00 411,756.05 971,466.12 -790,422.17
Excess of Funding
over Expenses 0.00-411,756.05-16,719.24 428,475.29 0.00-411,756.05 95,603.11 316,152.94
Grand Total: 0.00 -411,756.05 -16,719.24 428,475.29 0.00 -411,756.05 95,603.11 316,152.94
Page: 1
EXHIBIT A