HomeMy WebLinkAboutReso - CC - 068-2017RESOLUTION NO. 68-2017
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME ADOPTING
OPERATING AND CAPITAL IMPROVEMENT BUDGETS
FOR THE CITY OF BURLINGAME FOR FISCAL YEAR 2017-18 AND AUTHORIZING
THE FINANCE DIRECTOR/TREASURER TO ASSIGN USES TO FUND BALANCE
AMOUNTS IN COMPLIANCE WITH STATEMENT 54 OF THE GOVERNMENTAL
ACCOUNTING STANDARDS BOARD (GASB)
WHEREAS, each year the City of Burlingame prepares an annual budget that
details the City's planned expenditures in light of its expected revenues; and
WHEREAS, the City Council has received the initial budget from the City
Manager, conducted a public study session on May 10, 2017 and a public hearing on
June 19, 2017, and received and considered all testimony and documentation submitted
in connection with the proposed budget; and
WHEREAS, GASB 54 requires governmental fund balances to be reported using
five categories that take into consideration the makeup and intended use of the various
fund balances.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME
RESOLVES AND ORDERS AS FOLLOWS:
The City of Burlingame operating and capital improvement budget
requirements for the coming year as detailed in the copy of the Budget on file in the
Office of the City Clerk are approved and adopted for the 2017-18 fiscal year.
2. The City of Burlingame budget total is $117,678,707 and consists of the
following:
a) General Fund: $55,565,258
b) Capital Projects: 24,808,000
c) Water Enterprise: 14,699,794
d) Sewer Enterprise: 10,967,295
e) Parking Enterprise:
616,657
f) Building Enterprise:
1,757,187
g) Solid Waste Enterprise:
674,925
h) Landfill Post Closure
252,223
h) Financing Authority:
7,634,037
i) All other Funds:
703,331
3. The City Council hereby provides the Finance Director/Treasurer the authority
to assign uses to fund balance amounts in compliance with Statement 54 of the
Governmental Accounting Standards Board (GASB).
I, Meaghan Hassel -Shearer, City Clerk of the City of Burlingame, do hereby
certify that the foregoing Resolution was introduced at a regular meeting of the
Burlingame City Council held on the 19th day of June, 2017, and was adopted thereafter
by the following vote:
AYES: Councilmembers: BEACH, BROWNRIGG, COLSON, KEIGHRAN, ORTIZ
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE