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HomeMy WebLinkAboutReso - CC - 080-2021DocuSign Envelope ID: 5E5BE5C2-673E-4C6B-9727-6E216EA2D7F6 RESOLUTION NO. 080-2021 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME ADOPTING OPERATING AND CAPITAL IMPROVEMENT BUDGETS FOR THE CITY OF BURLINGAME FISCAL YEAR 2021-22 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 12, 2021, and conducted a public hearing on June 21, 2021, 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. 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 2021-22 fiscal year. 2. The City of Burlingame budget total is $117,684,734 and consists of the following: a) General Fund: $63,816,038 b) Capital Projects: 15,370,000 c) Water Enterprise: 15,128,916 d) Sewer Enterprise: 11,530,021 e) Parking Enterprise: 831,600 f) Building Enterprise: 2,735,663 g) Solid Waste Enterprise: 685,937 h) Landfill Post Closure 261,035 h) Financing Authority: 6,445,528 i) All other Funds: 879,996 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). DocuSign Envelope ID: 5E5BE5C2-673E-4C6B-9727-6E216EA2D7F6 a 1 of . n O'Brien Keighran, 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 21st day of June, 2021, and was adopted thereafter by the following vote: AYES: Councilmembers: BEACH, BROWNRIGG, COLSON, O'BRIEN KEIGHRAN, ORTIZ NOES: Councilmembers: NONE ABSENT: Councilmembers: NONE uSigned b/y: E�`,� plws,4-u tl S4_earey UU84C3D8OE7449... Meaghan Hassel -Shearer, City Clerk