CC Resolution No. 22-064 establishing an Operating Budget of $126,027,164 for FY 2022-23, which includes the following changes to the FY 2022-23 Proposed BudgetRESOLUTION NO. 22-064
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING BUDGET FOR
FISCAL YEAR 2022-23 BY RATIFYING THE ADEQUACY OF ESTIMATED
REVENUES AND FUND BALANCES IN EACH FUND TO COVER
APPROPRIATED MONIES, 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 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, has determined that estimated revenues and fund balances are
adequate to cover appropriations, 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 2022-23, as submitted by the
City Manager in his proposed budget and amended during the budget study sessions,
are sufficient to cover appropriations.
Section 2. There is appropriated from each of the several funds the sum of
money set forth as expenditures for the funds named in the Fiscal Year 2022-23 Proposed
Budget Financial Overview by Fund (Exhibit A), as amended during the budget sessions,
and stated 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.
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Resolution No. 22-064
Page 2
Section 4. The Director of Administrative Services shall prepare and submit to
City Council quarterly a 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.
PASS ED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 9th day of June, 2022, by the following vote:
AYES :
NOES:
ABSENT:
Members of the City Council
Paul, Chao, Wei, Willey
Moore
None
ABSTAIN: None
SIGNED:
("?~~ ---/7
DarcyPau~
City of Cupertino
ATTEST:
~ )_~.;
Kirsten Squarcia, City Clerk
7/;o/Zt>zz....
Date
Date
Resolution No. 22 -064
Page 3
FISCAL YEAR 2022-23 ADOPTED BUDGET
FINANCIAL OVERVIEW BY FUND
2022-23 Adopted Budget
Exhibit A
R C t . G I F d Special Revenue Debt Service Capital Project Enterprise Internal Service II d
evenue a egories enera un Fund Fund Funds Funds Funds A Fun s
Sa les Tax 31 ,944,089 31,944,089
Pro per ty Tax 30,039,574 30,039,574
Tr ans ient Occupancy 5,000,000 5,000,000
Ut ilit y T ax 2,955,404 2,955,404
Franchise Fees 3,230,10 1 3,230,101
Othe r Taxes 1,787,69 1 8,203,431 9,991,122
Licenses & Permits 3,541,012 3,541,0 12
Use of Money & P rope rt y 1,277,013 5,548 700,000 1,982,561
Inte rgove rnm en ta l 1,434,491 3,500,224 14,000 4,948,715
Charges for Services 11,528,436 1,512,209 5,058,792 4,053,851 22,153,288
Fines & Forfeitures 427,000 68,669 495,669
Misce llaneous 1,160,43 7 10,000 1,170,437
Tra nsfers In/Other Financin Uses 336,140 3,025,000 2,675,800 2,500,000 376,000 3,855,645 12,768,585
TOTAL REVENUES $ 94 661,388 $ 16,315,081 $ 2,675,800 2J00,000 $ 6,158,792 $ 7,909,496 $ 130,220 557
2022-23 Adopted Budget
A . , C . G I F d Special Revenue Debt Service Capital Project Enterprise Internal Service I d
ppropnallon ategones enera un Fund Fund Funds Funds Funds Al Fun s
Employee Co mpensat ion 24,295,660 2,050,572 1,786,450 1,803,287 29,935,969
Employee Be ne fit s 11 ,440,636 1,037,760 605,466 2,190,096 15,273,958
Mater ials 7,2 19,073 1,001,596 500,003 1,41 8,575 10,139,247
Contra ct Services 25,026,032 1,152,665 175,000 4,804,1 88 1,798,390 32,956,275
Cost All ocation 10,385,96 1 1,191,567 789,939 62,042 12,429,509
Capita l Outlays 1,038,000 1,038,000
S pec ial Projects 3,657,378 3,742,268 183,553 541,100 8,124,299
Contingenci es 451 ,739 29,681 132,526 80,425 694,371
Transfe rs Out 11 ,996,300 11 ,996,300
Deb t Service/Other Us es 695,000 2,675,800 177,606 968,791 4,517,197
TOTAL EXPENDITURES $ 95,167,779 $ 'Ll,244,109 $ 2,675,800 175,000 8,979,731 8,862,706 $ 127,105,125
CHANGE IN FUND BALANCE/ $
NET POSIT 0
(506,391) $ 5,070,972 $ $ 2,325,000 $ (2,820,939) $ (953,210) $ 3,115,432