RDA 08-01RESOLUTION N0.08-01
A RESOLUTION OF THE CUPERTINO REDEVELOPMENT AGENCY
ADOPTING AN OPERATING BUDGET FOR FISCAL YEAR
2008-09 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 ration 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 performing 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 Cupertino Redevelopment Agency
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 the Redevelopment Agency fund during fiscal year 2008-09 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 the fund the sum of money as determined
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 Redevelopment Agency accounts within the Operating Budget when in
his opinion such transfers become necessary for administrative purposes.
Section 4. The Director of Administrative Services shall prepare and submit to the
Cupertino Redevelopment Agency a quarterly revised estimate of Operating Revenues.
Section 5. The Director of Administrative Services is hereby authorized to continue
appropriations for operating expenditures that are encumbered or scheduled to be encumbered at
year end.
Resolution No. G8-O1
Page 2
PASSED AND ADOPTED at a regular meeting of the Cupertino Redevelopment Agency
this 17th day of June 2008, by the following vote:
Vote Members of the Redevelopment Agency
AYES: Sandoval, Mahoney, Santoro, Wang, Wong
NOES: None
ABSENT: None
ABSTAIN: None
APPROVED: .~
~.
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Chair, Redevelopment Agency
ATTEST:
Secretary