HomeMy WebLinkAboutReso 119-16 General Fund Reserve Designation RESOLUTION NO. 119 - 16
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR
FISCAL YEAR 2015-16
WHEREAS, the City's Fund Balance and Reserves Policy requires special fund balance
allocations to be adopted by the City Council, and 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 2016-17 Budget.
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 2015-16 year-end balance to the
Committed fund balance sub-categories as follows:
FY 2014-15 FY 2015-16 FY 2015-16 FY 2015-16 FY 2015-16
Actual Increase Decrease Change Year End
Committed 38,531,179 8,906,626 (7,242,240) 1,664,386 40,195,565
Economic Stability 6,000,000 2,000,000 2,000,000 8,000,000
Downtown Public Impr 1,000,000 (459,647) (459,647) 540,353
Open Space Funding - - -
Affordable Housing 1,000,000 - 1,000,000
Emergency Communications 741,000 - 741,000
Fire Svcs OPEB 9,196,000 2,008,000 2,008,000 11,204,000
Innovations&NewOpport 1,372,785 750,000 750,000 2,122,785
it City/School Projects 46,015 (46,015) (46,015) -
One-Ti me Initiative 1,341,408 - 1,341,408
Specific Committed Reserves - -
Emerald Glen Aquatic Complex 3,000,000 (3,000,000) (3,000,000) -
Mai ntena nce Facility 250,023 (250,023) (250,023) -
Cemetery Expansion 5,272,210 - 5,272,210
Fallon Sports Park 2,000,000 (1,800,000) (1,800,000) 200,000
Civic Ctr Expansion 136,737 (33,118) (33,118) 103,619
Emergency Generator - - -
Public Safety Complex - - -
Storm Drain Capture 400,000 178,436 (578,436) (400,000) -
Shannon Center Parking Lot 775,000 300,000 (1,075,000) (775,000) -
Utility Undergrounding - 1,170,190 1,170,190 1,170,190
Advance to Public Facility Fee 6,000,000 - 6,000,000
Dublin Sports Ground - 2,500,000 2,500,000 2,500,000
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.
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PASSED, APPROVED AND ADOPTED this 21st day of June, 2016, by the following vote:
AYES: Councilmembers Biddle, Hart, Wehrenberg, and Mayor Pro Tern Gupta
NOES: None
ABSENT: Mayor Haubert
ABSTAIN: None /
Mayor Pro Tern
ATTEST:
De.-Poy City Clerk
Reso No. 119-16,Adopted 6-21-16, Item 8.1 Page 2 of 2