ATTACHMENT A
RESOLUTION NO. 25-XXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ADOPTING AN OPERATING BUDGET FOR
FISCAL YEAR 2025-26 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 rat io 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 her 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 2025-26, as submitted by the City Manager in h er 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 2025-26 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 h er 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 3
rd day of June, 2025, by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Liang Chao, Mayor
City of Cupertino
________________________
Date
ATTEST:
________________________
Kirsten Squarcia, City Clerk
________________________
Date
Exhibit A
FISCAL YEAR 2025-26 FINAL OPERATING 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 11,983,958 - - - - - 11,983,958 Property Tax 35,413,310 - - - - - 35,413,310 Transient Occupancy 7,500,000 - - - - - 7,500,000 Utility Tax 4,206,907 - - - - - 4,206,907 Franchise Fees 4,394,563 - - - - - 4,394,563 Other Taxes 1,736,718 4,637,703 - - - - 6,374,421 Licenses & Permits 4,261,859 - - - - - 4,261,859 Use of Money & Property 6,538,880 1,190,398 - - 531,450 99,701 8,360,429 Intergovernmental 3,569,332 5,335,717 - - 14,812 - 8,919,861 Charges for Services 15,162,032 1,504,373 - - 5,044,822 5,331,124 27,042,351 Fines & Forfeitures 410,760 10,000 - - - - 420,760 Miscellaneous 1,668,815 1,519 - - - - 1,670,334 Other Financing Sources 367,000 - - - - 553,531 920,531 Transfers In 15,000 2,067,000 2,676,600 - 1,235,000 2,616,053 8,609,653 TOTAL REVENUES 97,229,134$ 14,746,710$ 2,676,600$ -$ 6,826,084$ 8,600,409$ 130,078,937$ Appropriation Categories General Fund Special
Revenue Fund
Debt Service
Fund
Capital Project
Funds
Enterprise
Funds
Internal Service
Funds All Funds
Employee Compensation 24,200,418 1,602,256 - - 2,010,726 1,720,661 29,534,061 Employee Benefits 10,643,927 797,878 - - 746,937 2,347,371 14,536,113 Materials 6,174,481 1,013,894 - - 758,663 1,297,849 9,244,887 Contract Services 31,496,502 692,575 - - 3,578,026 1,730,697 37,497,800 Cost Allocation 11,993,327 2,197,032 - - 1,676,251 949,737 16,816,347 Capital Outlays 274,433 1,583,075 - - - - 1,857,508 Special Projects 2,694,000 2,908,412 - - 160,000 1,039,000 6,801,412 Contingencies 50,000 - - - - - 50,000 Debt Service - - 2,676,600 - - - 2,676,600 Transfers Out 10,594,653 15,000 - - - - 10,609,653 Other Financing Uses 1,065,000 - - - 222,567 926,453 2,214,020 TOTAL EXPENDITURES 99,186,741$ 10,810,122$ 2,676,600$ -$ 9,153,170$ 10,011,768$ 131,838,401$
CHANGE IN FUND BALANCE/
NET POSITION (1,957,607)$ 3,936,588$ -$ -$ (2,327,086)$ (1,411,359)$ (1,759,464)$ 2025-26 Final Budget
2025-26 Final Budget