HomeMy WebLinkAboutReso - CC - 038-2011RESOLUTION NO. 38-2011
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
ADOPTING OPERATING AND CAPITAL IMPROVEMENT BUDGETS
FOR THE CITY OF BURLINGAME FISCAL YEAR 2011-2012 AND GIVING
THE FINANCE DIRECTOR/TREASURER THE AUTHORITY TO ASSIGN USE
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 a public study session on May 22, 2011, and conducted a public
hearing on June 6, 2011, and the Council has received and considered all testimony and
documentation submitted in connection with the proposed budget; and
WHEREAS, in this time of significant economic recession and falling City
revenues, the proposed budget as submitted and amended makes wise choices in
spending and fending among competing programs and services; and
WHEREAS, as a result of the City of Burlingame's budget there are anticipated
fund balances, which the City Council has assigned to be used for specific purposes in
accordance with GASB Statement 54; and
WHEREAS, the Finance Director/Treasurer is the city official responsible for
implementing the financial policies and direction of the City Council and ensuring
compliance with those policies and direction;
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 2011-2012 fiscal year.
2. The City of Burlingame budget total is $ 86,924,006 and consists of the
following:
a) General Fund budget: $ 38,074,591
b) Water, Sewer, Parking, Building and Solid
Waste Enterprise Funds: $ 31,278,507
c) Capital Improvement Fund: $ 13,029,000
d) Burlingame Financing Authority: $ 4,321,978
e) Shuttle Grant, and PEG $ 219,930
3. The Finance Director/Treasurer is hereby designated to assign fund balances
for specific purposes as determined by the financial policies and direction of the City
Council and to report those fund balance assignments in the annual budgets and
comprehensive financial reports of the City of Burlingame in accordance with GASB.
Terry Na el, Magor
I, Mary 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 20th day of June, 2011, and was adopted thereafter by the following
vote:
AYES: Councilmembers: BAYLOCK, BROWNRIGG, DEAL, KEIGHRAN, NAGEL
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE
Mary len Kear ey, City CleAc