RESOLUTION NO.
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COTATI APPROVING MID-YEAR ADJUSTMENT TO THE BUDGET FOR FISCAL YEAR 2023/24 WHEREAS, the City of Cotati City Council did, on May 21, 2023, adopt the budget for fiscal year 2023/24; and
WHEREAS, the mid-year budget is an opportunity to update revenues and expenses, including increased investment earnings; and
WHEREAS, the City of Cotati identified additional revenues which were under budgeted for the investment earnings of the general fund by an estimated $120,000; and WHEREAS, per the City of Cotati’s Financial Principles and Policies, the City Council is the sole authority for creating or increasing a general fund budget.
NOW THEREFORE BE IT RESOLVED, that that the City Council of the City of Cotati adopts an increase in account 101-00-65010-0000 for $120,000 for a total adjusted budget of $165,600 to the operating revenue General Fund budgets for fiscal year 2023/24.
IT IS HEREBY CERTIFIED that the foregoing resolution was duly adopted at a regular meeting of the City Council of the City of Cotati held on January 23, 2024, by the following vote, to wit:
RESULT:
MOVER:
SECONDER:
AYES:
Approved:___________________________
Mayor
Attest:______________________________
Kevin Patterson, Deputy City Clerk
Approved as to form:______________________________
City Attorney