Attachment A
RESOLUTION NO. 22-XXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING BUDGET FOR
FISCAL YEAR 2022-23 BY RATIFYING THE ADEQUACY OF ESTIMATED
REVENUES AND FUND BALANCES IN EACH FUND TO COVER
APPROPRIATED MONIES, APPROPRIATING MONIES THEREFROM FOR
SPECIFIED ACTIVITIES AND ACCOUNTS, AND SETTING FORTH
CONDITIONS OF ADMINISTERING SAID BUDGET
WHEREAS, the orderly administration of municipal government is dependent on the establishment of a sound fiscal policy of maintaining a proper ratio of expenditures within anticipated revenues and available monies; and
WHEREAS, the extent of any project or program and the degree of its accomplishment, as well as the efficiency of performing assigned duties and responsibilities, is likewise dependent on the monies made available for that purpose; and
WHEREAS, the City Manager has submitted his estimates of anticipated revenues and fund balances, has determined that estimated revenues and fund balances are adequate to cover appropriations , and has recommended the allocation of monies for specified program activities;
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby adopt the following sections as a part of its fiscal policy:
Section 1. The estimates of available fund balances and anticipated resources to be received in each of the several funds during Fiscal Year 2022-23, as submitted by the City Manager in his proposed budget and amended during the budget study sessions , are sufficient to cover appropriations.
Section 2. There is appropriated from each of the several funds the sum of money set forth as expenditures for the funds named in the Fiscal Year 2022-23 Proposed Budget Financial Overview by Fund (Exhibit A), as amended during the budget sessions, and stated for the purposes as expressed and estimated for each department.
Section 3. The City Manager is hereby authorized to administer and transfer appropriations between Budget Accounts within the Operating Budget when in his opinion such transfers become necessary for administrative purposes.
Section 4. The Director of Administrative Services shall prepare and submit to City Council quarterly a revised estimate of Operating Revenues.
Section 5. The Director of Administrative Services is hereby authorized to continue appropriations for operating expenditures that are encumbered or scheduled to be encumbered at year end.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino this 7th day of June, 2022, by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Darcy Paul, Mayor
City of Cupertino
________________________
Date
ATTEST:
________________________
Kirsten Squarcia, City Clerk
________________________
Date
Exhibit A
FISCAL YEAR 2022-23 PROPOSED BUDGET
FINANCIAL OVERVIEW BY FUND
Revenue Categories General Fund Special Revenue
Fund
Debt Service
Fund
Capital Project
Funds
Enterprise
Funds
Internal Service
Funds All Funds
Sales Tax 31,944,089 - - - - - 31,944,089 Property Tax 30,039,574 - - - - - 30,039,574 Transient Occupancy 5,000,000 - - - - - 5,000,000 Utility Tax 2,955,404 - - - - - 2,955,404 Franchise Fees 3,230,101 - - - - - 3,230,101 Other Taxes 1,787,691 8,203,431 - - - - 9,991,122 Licenses & Permits 3,541,012 - - - - - 3,541,012 Use of Money & Property 1,277,013 5,548 - - 700,000 - 1,982,561 Intergovernmental 434,491 3,500,224 - - 14,000 - 3,948,715 Charges for Services 11,528,436 1,512,209 - - 5,058,792 4,053,851 22,153,288 Fines & Forfeitures 427,000 68,669 - - - - 495,669 Miscellaneous 1,160,437 - - - 10,000 - 1,170,437 Transfers In/Other Financing Uses 336,140 3,025,000 2,675,800 2,500,000 376,000 3,855,645 12,768,585 TOTAL REVENUES 93,661,388$ 16,315,081$ 2,675,800$ 2,500,000$ 6,158,792$ 7,909,496$ 129,220,557$ Appropriation Categories General Fund Special Revenue Fund
Debt Service
Fund
Capital Project
Funds
Enterprise
Funds
Internal Service
Funds All Funds
Employee Compensation 24,295,660 2, 050,572 - - 1,786,450 1,803,287 29,935,969 Employee Benefits 11,440,636 1,037,760 - - 605,466 2,190,096 15,273,958 Materials 7,217,573 1,001,596 - - 500,003 1,418,575 10,137,747 Contract Services 24,949,571 1,152,665 - 175,000 4,804,188 1,798,390 32,879,814 Cost Allocation 10,385,961 1,191,567 - - 789,939 62,042 12,429,509 Capital Outlays - 1,038,000 - - - - 1,038,000 Special Projects 2,657,378 3,742,268 - - 183,553 1,210,146 7,793,345 Contingencies 451,739 29,681 - - 132,526 80,425 694,371 Transfers Out 11,996,300 - - - - - 11,996,300 Debt Service/Other Uses 695,000 - 2,675,800 - 177,606 299,745 3,848,151 TOTAL EXPENDITURES 94,089,818$ 11,244,109$ 2,675,800$ 175,000$ 8,979,731$ 8,862,706$ 126,027,164$
CHANGE IN FUND BALANCE/
NET POSITION (428,430)$ 5, 070,972$ -$ 2,325,000$ (2,820,939)$ (953,210)$ 3,193,393$ 2022-23 Proposed Budget
2022-23 Proposed Budget