HomeMy WebLinkAbout2026-06-16; City Council; Resolution 2026-128Exhibit 17
RESOLUTION NO. 2026-128 .
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE APPROPRIATION AND TRANSFER OF
$8,000,000 FROM GENERAL FUND RESERVES IN FISCAL YEAR 2025-26
TO THE INFRASTRUCTURE REPLACEMENT FUND TO FUND FUTURE
PROJECTS
WHEREAS, City Council Policy No. 87 – General Fund Surplus Policy allows for General
Fund reserve levels exceeding the 40% target requirement to be used for one-time opportunity
cost purposes at the discretion of the City Council; and
WHEREAS, the city’s unaudited General Fund reserve balance is estimated to be 61% at
the close of fiscal year 2025-26, and has exceeded its General Fund Reserve Policy (City Council
Policy No. 74) target of 40%; and
WHEREAS, the city has many unfunded capital projects that are known and some that are
unknown; and
WHEREAS, an additional appropriation and transfer to the Infrastructure Replacement
Fund could fund future projects.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California,
as follows:
1.That the above recitations are true and correct.
2. That proposed action is not a “project” as defined by California Environmental
Quality Act, or CEQA, Section 21065 and CEQA Guidelines Section 15378(b)(4) and
does not require environmental review under CEQA Guidelines Section
15060(c)(3) as it is a government fiscal activity and does not involve any
commitment to any specific project which may result in a potentially significant
physical impact on the environment. The activity or projects funded by the
Infrastructure Replacement Fund may require preparation of an environmental
document in accordance with CEQA and CEQA Guidelines.
3.That a transfer to the Infrastructure Replacement Fund in the amount of
$8,000,000 is approved to help fund future city infrastructure replacement needs.
June 16, 2026 Item #6 Page 495 of 618
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PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the City Council of the
City of Carlsbad, the Board of Directors of the Carlsbad Municipal Water District, the Board of
Directors of the Carlsbad Public Financing Authority, the Community Development Commission,
and the City Council as Successor Agency to the Carlsbad Redevelopment Agency held on
the 16th day of June, 2026, by the following vote, to wit:
AYES: Blackburn, Bhat-Patel, Acosta, Burkholder, Shin.
NAYS: None.
ABSTAIN: None.
ABSENT: None.
_____________________________________
KEITH BLACKBURN, Mayor
_____________________________________
SHERRY FREISINGER, City Clerk
(SEAL)
June 16, 2026 Item #6 Page 496 of 618
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