HomeMy WebLinkAboutReso 77-18 Authorizing a Special Designation of General Fund Reserves for Fiscal Year 2017-18 RESOLUTION NO. 77 — 18
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR
FISCAL YEAR 2017-18
WHEREAS, the City's Fund Balance and Reserves Policy requires special fund balance
un
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
onetime revenues during the preparation of the Fiscal Year 2018-19 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 2017-18 year -end balance to the
Committed fund balance subcategories as follows:
Actual Increase Decrease NET Projected
Reserve Balances 2016-17 2017-18 2017-18 CHANGE 2017-18
. 2 3 716 �1,2772,83o 716,102 a
Public Safety Reserve 11600,061i 400,000 400,000 2,000,000
Downtown Public Impr 452,176 2,547,830 2,547,830 3,000,0001
Economic Development 44000,000¢ 1,000,000 1,000,000 3,000,000`
Fire Svcs O PE B ,\3,3j4;62 250,000 250,000 ,v3,584,672
Shannon Center Parking Lot 967,6K 75,000 (1,042,680) (967,680)
BE IT FURTHER RESOLVED that, any net resources remaining after special designations,
and after meeting the Fund Balance and Reserves Policy requirements, will be left in the Unassigned
(Available) Reserve.
PASSED, APPROVED AND ADOPTED this 19th day of June 2018, by the following vote:
AYES: Councilmembers Goel, Gupta, Hernandez, Thalblum and Mayor Haubert
NOES:
ABSENT:
ABSTAIN:
IY61""5-;\
ATTEST: ayor
(144d
City Clerk
Reso No. 77-18, Adopted 6/19/2018, Item No. 4.14 Page 1 of 1