RESOLUTION PA 2024----
A RESOLUTION OF THE CITY OF MERCED
PARKING AUTHORITY ADOPTING THE
BUDGET AND APPROPRIATING REVENUE
FOR FISCAL YEAR 2024-2025
WHEREAS, The City of Merced Parking Authority ("Parking Authority") has determined it is necessary to expend funds to cany out its purposes and that a budget therefore is necessary and desirable; and, WHEREAS, The Parking Authority Budget includes the Downtown Parking Fund; and,
WHEREAS, The Parking Authority has determined that planning and administrative expenses are necessary for the successful operation of the Parking Authority.
NOW, THEREFORE, THE CITY OF MERCED PARKING
AUTHORITY DOES HEREBY FIND, DETERMINE, ORDER AND
RESOLVE AS FOLLOWS:
SECTION 1. It is necessary to charge planning and administrative services to the Parking Authority and that the administrative expenses budgeted for Fiscal Year 2024-2025 are reasonable and proper. . SECTION 2. That the 2024-2025 Budget, as submitted by the Executive Director and as considered by the Parking Authority, is hereby approved and adopted in the amounts set forth in the schedules and summaries of said Budget document and allocations are hereby approved for the purposes herein stated.
SECTION 3. T hat the Executive Director or designee is authorized to make transfers of budget appropriations between classifications and activities within a fund to purchase such items and services needed to accomplish those purposes set forth in the Program Statements of said Budget document and to insure the efficient and effective administration of services.
SECTION 4. That the recommended ending balance for June 30, 2025, shown in the proposed annual Financial Summary section is an X:\Resolutions\2024\Parking Authority\Budget Parking Authority Adoption FY 2024-23.docx I
estimate, and the actual ending balance is hereby appropriated as a reserve for unanticipated uses as determined by the Parking Authority.
SECTION 5. Capital Improvement Projects revenue and unspent appropriation canyover budget amounts from 2023-2024 shall be recalculated and updated to reflect actual balances as of June 30, 2024 and are hereby incorporated as part of the 2024-2025 approved Budget.
SECTION 6. That the Executive Director or designee is authorized to make transfers of budget appropriations between classifications and activities within a fund to purchase such items and services needed to accomplish those purposes set forth in the Program Statements of said Budget document and to insure the efficient and effective administration of the Parking Authority.
SECTION 7. That the Executive Director or designee is authorized to execute public works project contracts which are below the threshold amount which is adjusted annually by the Finance Officer in accordance with the Engineering Construction Cost Index.
PASSED AND ADOPTED by the City of Merced Parking Authority at a regular meeting held on the __ day of June 2024, by the following vote:
AYES: Authority Members:
NOES: Authority Members:
ABSENT: Authority Members:
ABSTAIN: Authority Members:
X:\Resolutions\2024\Parking Authority\Budget Parking Authority Adoption FY 2024-23.doe� 2 APPROVED:
MATTHEW SERRATTO, MAYOR
Mayor
ATTEST:
D. SCOTT MCBRIDE, CITY CLERK
BY: -------------
Assistant/Deputy City Clerk
(SEAL)
APPROVED AS TO FORM:
CRAIG J. CORNWELL, CITY ATTORNEY
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• Attorney Date
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