HomeMy WebLinkAbout2022-09-27; City Council; Resolution 2022-232RESOLUTION NO. 2022-232
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE APPROPRIATION AND TRANSFER FROM
GENERAL FUND RESERVES IN FISCAL YEAR 2022-23 TO THE CITY'S FLEET
MAINTENANCE FUND
WHEREAS, City Council Policy No. 87 -General Fund Surplus Policy allows for General Fund
reserve levels in excess of the 40% target requirement to be used for one-time opportunity cost
purposes at the discretion of the City Council; and
WHEREAS, at the close offiscal year 2021-22, the city's unaudited General Fund reserve balance
is 62% and has exceeded its General Fund Reserve Policy (City Council Policy No. 74) target of 40%; and
WHEREAS, at the close of fiscal year 2021-22, the remaining unaudited unspent and
unencumbered expenditures budget for the General Fund is $14.7 million of which $5.9 million has
been carried forward as a result of previous City Council resolutions, resulting in an available surplus
of $8.8 million; and
WHEREAS, City Council Policy No. 87 requires City Council approval for the carryforward of any
unspent and unencumbered budget for a particular item equal to or greater than $100,000; and
WHEREAS, the balance of the city's Fleet Maintenance Fund is expected to be in a deficit during
fiscal year 2022-23 due to a lag in revenue collection and unanticipated increase in fuel, oil and parts
costs.
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 a transfer to the city's Fleet Maintenance Fund in an amount as determined by the
City Council and set forth in the minutes of the City Council meeting of Tuesday, Sept. 27,
2022, is approved.
3.That the Deputy City Manager, Administrative Services, is authorized to transfer
$290,000 from the General Fund to the Fleet Maintenance Fund and appropriate
$290,000 to the Fleet Maintenance operating budget.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 27th day of September, 2022, by the following vote, to wit:
AYES:
NAYS:
ABSENT:
Blackburn, Bhat-Patel, Acosta, Norby.
Hall.
None.
� FAVIOLA MEDINA, City Clerk Services Manager
{SEAL)