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8 RESOLUTION NO. 25-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA,
DESIGNATING A COMMITTED RESERVE FUND BALANCES FOR FUTURE
COMMUNITY CENTER AND PUBLIC FACILITIES AND DESIGNATING AN ASSIGNED FUND BALANCE FOR CIP 14:01: MCCALL BLVD/I-215 INTERCHANGE PROJECT WHEREAS, pursuant to the City adopted Fund Balance Policy for the General Fund (CC- 07) as most recently adopted on June 5, 2024, City Council, as the highest level of decision- making authority, may commit fund balance for specific purposes pursuant to constrains imposed by formal actions taken, such as an ordinance or resolution; and WHEREAS, the City has various public facilities capital projects requiring significant financial resources which will require a multi-year funding strategy to fund; and WHEREAS, the City of Menifee’s adopted Fund Policy allows for the use of surplus fund balance to be used towards capital projects and equipment; and WHEREAS, to support the necessary funding for the various public facilities projects, the City would like to a designate, at the Council’s direction, reserves for these various capital projects identified below.
NOW, THEREFORE, the City Council of the City of Menifee resolves and orders as follows:
1. A contribution of $3,906,674 from the Rockport Ranch Mitigation Fee revenue collected to the Community Center Committed Fund Balance Account.
2. A contribution of $2,000,000 be transferred to the Public Facilities Committed Fund Balance account from the Assigned Public Facilities Account.
3. A contribution of $1,200,000 from available Quality of Life Fund Balance be transferred to the McCall Blvd/I-215 Interchange Project Assigned Fund Balance Account.
PASSED, APPROVED AND ADOPTED this 18th day of June, 2025.
Ricky Estrada, Mayor
Attest:
Stephanie Roseen, City Clerk
Approved as to form:
Jeffrey T. Melching, City Attorney