HomeMy WebLinkAboutReso 109-12 Gen Fund Designation RESOLUTION NO. 109 - 12
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND
BALANCE FOR FISCAL YEAR 2011-2012
WHEREAS, On June 19, 2012 the City Council an amended policy as it relates to establishing
components of fund balance for the City of Dublin; and
WHEREAS, the revised policy allows the City Council to take action prior to the end of the
Fiscal Year, to direct a specific assignment of the fund balance; and
WHEREAS, Staff reviewed updated information regarding fund balance and estimated one-
time revenues during the preparation of the Fiscal Year 2012/2013 and 2013/2014 budgets; and
WHEREAS, based on this analysis it is estimated that at June 30, 2012 approximately
$2,249,368 would be available in assigned fund balance; and
WHEREAS, the City Council in accordance with the adopted policy desires to allocate for one-
time purposes these reserves as part of its two-year budget cycle planning for one time purposes;
and
WHEREAS, any the policy requires this special allocation to be adopted by the City Council.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does herby make
a special allocation of the estimated Fiscal Year 2011-2012 year-end balance to the following
designations:
Assigned Fund Balance For One-Time Initiatives (Operating) $ 503,860
Assigned Fund Balance For One-Time Initiatives (Capital) 837,548
Committed Balance For Public Safety Complex 907,960
Total Special Allocations $ 2,249,368
BE IT FURTHER RESOLVED that this allocation shall be made in accordance with the allocation of
revenue sources, as described in the revised fund balance policy. In the event that the General Fund
Balance at the end of the year exceeds $2,249,368, it will be assigned as described in the policy: a)
50% to the Catastrophic Facility / Infrastructure Loss & City Business Recovery; b) 25% to Pension
and Other Post-Employment Benefits; and c) 25% to Unassigned for Cash Flow Purposes
Page 1 of 2
PASSED, APPROVED AND ADOPTED this 19th day of June, 2012, by the following vote:
AYES: Councilmembers Biddle, Hart, Hildenbrand, Swalwell, and Mayor Sbranti
NOES: None
ABSENT: None
ATTEST: None
ALetj'
Mayor
ATTEST:
a/42 D0(
City Cler
Reso No. 109-12,Adopted 6-19-12, Item 4.14 Page 2 of 2