HomeMy WebLinkAboutReso 93-13 Gen Fund Sp Designation Reserves RESOLUTION NO. 93 - 13
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR
FISCAL YEAR 2012-2013
WHEREAS, On June 4, 2013 the City Council adopted a revised Fund Balance and Reserves
Policy; and
WHEREAS, the 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 Update to the Fiscal Year 2012-13 and 2013-14 budgets;
and
WHEREAS, the Fund Balance and Reserves Policy requires special fund balance allocations
to be adopted by the City Council.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby make a special allocation of the estimated Fiscal Year 2012-2013 year-end balance to the
Committed fund balance sub-categories as follows:
Balance Spent Shifts Balance
Committed ` 11-12 3213, - '�` 12=13 ' ,12' 3
1 Note
Economic Stability 5,868,847 5,868,847
Downtown Public 1,000,000 1,000,000
Improvements
Open Space Funding 1,000,000 1,000,000 2,000,000 Shift 5500k from Catastrophic
Reserve; $500k from Unassigned
Affordable Housing 1,000,000 1,000,000
Aquatic Center 1,500,000 1,500,000
Emergency 741,000 741,000
Communications
Fire Services OPEB 5,148,021 1,338,979 6,487,000 Shift from City OPEB reserve to
pre-fund ACFD OPEB
Innovations&New Shift to Public Safety Complex
Opportunities 3,372,785 (2,000,000) 1,372,785 Reserve
Add$3,000,000 contribution
Maintenance Facility 1,083,989 (2,988,187) 5,670,063 3,765,865 from ACFD; shift$2,170,063
from Unassigned
Heritage Park - 1,250,000 1,250,000 Add revenues received via
Developer Agreement
Civic Center Expansion 767,922 (767,922) -
Emergency Generator 79,867 (79,867) - Removed: project complete
Shift$2,000,000 from
Public Safety Complex 1,272,811 (2,016,193) 2,431,990 1,688,608 Innovations Reserve;rest from
Unassigned
Joint City/School
Projects 600,000 600,000 Shift from Unassigned
One-Time Initiatives 1,341,408 1,341,408
BE IT FURTHER RESOLVED that, any net resources remaining after special designations,
and after meeting the minimum requirement of two months cash flow in the Unassigned fund balance
and a maximum of 15% asset book value in the Catastrophic Loss reserve, will be assigned as
described in the policy: a) 50% to Pension and Other Post Employment Benefits; and b) 50% to the
Non-Streets Capital Improvements Program reserve.
PASSED, APPROVED AND ADOPTED this 4th day of June, 2013, by the following vote:
AYES: City Councilmembers Biddle, Gupta, Hart, and Mayor Sbranti
NOES: None
ABSENT: Councilmember Haubert
ABSTAIN: None
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Mayor
ATTEST.
dewy 21-
City Clerk
Reso No. 93-13, Adopted 6-4-13, Item 7.1 Page 2 of 2