CC Resolution No. 8703
RESOLUTION NO. 8703
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CUPERTINO ADOPTING AN OPERATING AND
CONSTRUCTION BUDGET FOR FISCAL YEAR 1992-1993 BY
RATIFYING ESTIMATES OF REVENUES TO BE RECEIVED IN
EACH FUND AND APPROPRIATING MONIES THEREFROM
FOR SPECIFIED ACTIVITIES AND ACCOUNTS AND SETTING
FORTH CONDITIONS OF ADMINISTERING SAID BUDGET
WHEREAS, the orderly administration of municipal government is dependent on
the establishment of a sound fiscal policy of maintaining a proper ratio of expenditures
within anticipated revenues and available monies; and
WHEREAS, the extent of any project or program and the degree of its
accomplishment, as well as the efficiency of perfonning assigned duties and
responsibilities, is likewise dependent on the monies made available for that purpose; and
WHEREAS, the City Manager has submitted his estimates of anticipated
revenues and fund balances, and has recommended the allocation of monies for specified
program activities;
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby
adopt the following sections as a part of its fiscal policy:
Section 1. The estimates of available fund balances and anticipated resources
to be received in each of the several funds during fiscal year 1992-93 as submitted by the
City Manager in his proposed budget and as have been amended during the budget study
sessions are hereby ratified,
Section 2, There is appropriated from each of the several funds the sum of
money as detennined during the budget sessions for the purposes as expressed and
estimated for each Department
Section 3, The City Manager is hereby authorized to administer and transfer
appropriations between Budget Accounts within the Operating Budget when in his
opinion such transfers become necessary for administrative purposes.
Resolution No, 8703
Section 4, The Finance Director shall prepare and submit to City Council
quarterly a revised estimate of Operating Revenues.
Section 5, The Finance Director is hereby authorized to continue unexpended
appropriations for Capital Improvement Projects, .
Section 6. The Finance Director, after fiscal audit of June 30, 1992, financial
records, is hereby authorized to transfer the unreselVed balance from the General Fund,
Storm Drain Fund, Park Dedication Fund, Gas Tax Fund, and Environmental Fund into a
"ReselVe for Future Capital Projects. II
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 6th day of July , 1992, by the following vote:
Vote Members of the ~ Council
AYES: Dean, Goldman, Sorensen
NOES: Szabo
ABSENT: Koppel
ABSTAIN: None
ATTEST: APPROVED:
/s/ Dorothy Cornelius
City Clerk
/s/ Laura1ee Sorensen
Mayor, City of Cupertino
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