RES 88268 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 88-268 APPROPRIATION OF EXCESS FUNDS TO CONTINGENCY RESERVES WHEREAS, on April 8, 1986, a special election allowed the citizens of Pleasanton to establish the Appropriation limit required by Article XIIIB of the State of California Constitution. This election was successful and established for fiscal years 1984-85 through 1987-88 an appropriation limit of $21,000,000 for each fiscal year; and WHEREAS, the City received total restricted tax revenues in fiscal year 1986-87 of $16,047,077.00, which did not exceed the approved limit; and WHEREAS, the City has additional revenues over the expenditures recorded in the City's audit report of fiscal year 1986-87; and WHEREAS, the governing body is allowed to appropriate the additional revenues to a contingency reserve to meet obligations which will allow the City to exclude these revenues from the appropriation limit when the revenues are appropriated in a future accounting period; NOW, THEEFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Appropriates revenues of General Fund in the amount of $3,634,253.00, and Annexation Fund revenues in the amount of $48,330.00, and Capital Improvement Fund revenues of $364,746.00 to the Proposition 4 Fund to be reserved in a contingency balance in order to meet existing and future obligations of the Proposition 4 fund. Section 2: Appropriates the net excess revenues in the Capital Improvement Fund of $229,664.00, and the Park Dedication Fund of $214,379.00 to Contingency Reserves within their corresponding fund balances to meet existing obligations, as well as future contingencies and obligations. Section 3: This resolution shall become effective immediately upon its passage and adoption.