HomeMy WebLinkAbout1995-11-14; City Council; Resolution 95-326f 0 0
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RESOLUTION NO. 95-326
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, INCREASING THE REVENUE
ESTIMATES AND BUDGET FOR THE GENERAL FUND BY
$700,000 AND TRANSFERRING $500,000 TO THE GENERAL
CAPITAL CONSTRUCTION FUND
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WHEREAS, revenues received in fiscal year 1994-95 in the General fund
exceeded estimates by $2.1 million; and
WHEREAS, revenues through the first quarter of the 1995-96 fiscal year
have exceeded estimates by $389,000 or 6%; and
WHEREAS, the Council’s contingency account has been at historically
low levels over the past several years; and
WHEREAS, staff recommends that the revenue estimates be increased
by $700,000 for the 1995-96 fiscal year with an offsetting amount going to the
contingency account; and
WHEREAS, the General Capital Construction (GCC) fund no longer has
any available balance remaining; and
WHEREAS, Council may need monies in the GCC fund to pay for
unplanned or unbudgeted capital projects during the fiscal year; and
WHEREAS, there are sufficient funds in the General fund balance to
transfer to GCC without jeopardizing the operations of the General fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City 01
Carlsbad, California as follows:
1. That the above recitations are true and correct.
Ill
Ill
Ill
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%. That the amounts reflected as "Revised Estimates" for fiscal year
'9995-96 as shown in Exhibit A are hereby adopted as the
budgeted revenues for 1995-96.
3. That the budget for the contingency account in the General fund
is hereby increased by $700,000.
4. That a transfer of $500,000 from the General fund balance to the
General Capital Construction fund is hereby authorized.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council on the 14th day of NOVEMBER , 1995, by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Kulchin, Hall
NOES: None
ABSENT: Council Member Finnil
KITEST:
&2< ,A €Tii NZ, City Clerk (SEAL)
WEN R. KUNDTZ, ssistant City Clerk