HomeMy WebLinkAboutReso - CC - 057-2001RESOLUTION NO. 57-2001
RESOLUTION OF THE VITY COUNCIL OF THE CITY OF BURLINGAME
ESTABLISHING CERTAIN INTERNAL SERVICE AND RESERVE FUNDS AND
GENERAL POLICIES REGARDING THEIR FUNDING AND USAGE
RESOLVED, by the City Council of the City of Burlingame:
WHEREAS, the efforts to continue to enhance the fiscal management and stability of the
City requires the establishment of internal service and reserve funds; and
WHEREAS, these funds will help meet unanticipated needs or emergencies as well as plan
for replacement and improvement of City equipment and facilities and personnel costs; and
City,
WHEREAS, these funds are in addition to the self-insured funds already established by the
NOW, THEREFORE, IT IS RESOLVED AND ORDERED:
1. The internal service and reserve funds described in Exhibit A are approved, and the
general policies with regard to the funds are accepted.
I, ANN T. MUSSO, City Clerk of the City of Burlingame, do hereby certify that the foregoing
resolution was introduced at a regular meeting of the City Council held on the 18th day of June
. 2001, and was adopted thereafter by the following vote:
AYES: COUNCILMEMBERS: COFFEY, GALLIGAN, JANNEY, O'"MAHONY, SPINELLI
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
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CITY CLERK
EXHIBIT A
INTERNAL SERVICE FUNDS
The following internal service funds are established:
A. Equipment Services Fund to account for vehicle acquisition and maintenance
B. Information Technology Fund to account for computer/telephone acquisition and maintenance
C. Facilities Service Fund to account for City facility repair and maintenance
The following amounts shall be transferred for the 2001-02 fiscal year, as follows, from the General Fund
Unreserved Fund Balance to establish initial, sufficient reserves for these funds:
$3,000,000 to Equipment Service Fund
$ 300,000 to Facilities Services Fund
$ 180.000 to Information Technology Services Fund
Total $3,480,000 from General Fund Unreserved Fund Balance
Ongoing annual appropriations m the various operating departments will be transferred to these funds to
maintain sufficient reserves. The schedule of these appropriations shall be included in the Proposed and
Adopted budgets. The amount and sufficiency of reserves shall be reviewed annually.
RESERVE FUNDS
A. PERS Retirement Contribution Reserve
A reserve equal to two years of normal employer payments to PERS shall be established by a
transfer from the General Fund Unreserved Fund balance for FY 2001-02 in the initial amount of
$3,625,000. This reserve may be adjusted from time to time based on PERS actuarial estimates and
may be used to fund appropriation increases necessary to pay PERS employer costs.
B. General Reserve
A designated general reserve shall be established in the General Fund to set aside funds for
extraordinary emergencies. The Council may, by resolution, adjust this amount. The initial transfer
to this reserve shall be $5,500,000 for the 2001-02 fiscal year.
FEW
C. Contingency Reserve
A designated reserve for contingencies shall be established in the General Fund. The reserve amount
for 2001-02 shall be $500,000. Funds may be transferred for unanticipated expenditures. Transfers
from this reserve must be approved by Council Resolution.
D. Performance Recognition Program Reserve
A designated reserve equal to 5% of total salaries shall be established after July 1, 2001, to be used
to fund performance recognition programs for City employees. The initial reserve will be $972,000.
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