HomeMy WebLinkAboutReso - CC - 047-2012RESOLUTION NO. 47-2012
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
ADOPTING OPERATING AND CAPITAL IMPROVEMENT BUDGETS
FOR THE CITY OF BURLINGAME FISCAL YEAR 2012-2013 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 which
details the City's planned expenditures in light of its expected revenues; and
WHEREAS, the City Council has received the proposed budget from the City
Manager, conducted public study session on May 16, 2012 and conducted a public
hearing on June 4, 2012, and the Council has 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, which take into consideration the makeup and intended use of the various
fund balances; the city council's current designation of general fund balance constitutes
an "assignment of intention" to use certain amounts for specific purposes and, therefore,
the Council's designated fund balance reserves are considered "Assigned";
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
BURLINGAME DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
1. 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 hereby approved and adopted for the 2012-2013 fiscal year.
2. The City of Burlingame budget total is $100,020,724 and consists of the
following:
a) General Fund: $39,209,826
b) Capital Projects:
27,139,000
c) Water:
13,003,252
d) Sewer:
9,522,356
e) Parking:
1,271,866
f) Building:
1,298,617
g) Solid Waste:
680,923
h) Financing Authority:
5,269,147
i) All other Funds:
2,625,737
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, Maiy Ellen Kearney, 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 18th day of June, 2012, and was adopted thereafter by the following
vote:
AYES: Councilmembers: BAYLOCK,BROWNRIGG,DEAL, KEIGHRAN,NAGEL
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE
Mary E116n Kearney, City Cl k