RESOLUTION NO. ____
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RICHMOND, CALIFORNIA, APPROVING THE FISCAL YEARS 2024-25 THROUGH 2028-29 CAPITAL IMPROVEMENT PLAN AND ADOPTING THE FISCAL YEAR 2024-25 BUDGET FOR
THE CAPITAL IMPROVEMENT FUNDS
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WHEREAS, a balanced budget for the City of Richmond has been prepared for Fiscal Year 2024-25 and presented to the City Council pursuant to Article IV, Section 1 (b) of the Charter of the City of Richmond; and
WHEREAS, a Capital Improvement Plan for Fiscal Years 20 24-25 through 2028-29 has been prepared; and
WHEREAS, the budget for the Capital Improvement Funds for the 20 24-25 Fiscal Year has been prepared; and
WHEREAS, all appropriations for the prior fiscal year shall lapse at the end of Fiscal Year 2023-24 and any remaining amounts shall be credit ed against their respective fund balances, except for:
a. Any unexpected but encumbered amounts or specific orders outstanding at the end of the Fiscal Year; and
b. Any appropriations for incomplete capital projects including the Municipal Sewer District at the end of Fiscal Year 2023-24; and
WHEREAS, for these exceptions, such carry -overs may be made without any further City Council action; and
WHEREAS, the City Council needs to approve the following expenditures for the Fiscal Year 2024-25 Capital Improvement budget:
a. Project expenditures in the amount of $123,534,009 for the Fiscal Year FY2024-25 of the Capital Improvement Projects Program.
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of Richmond hereby (1) approves the Capital Improvement Plan for Fiscal Years 2024-25 through 2028-29; (2) adopts the budget for the Capital Improvement Funds for the 2024-25 Fiscal Year; and (3) authorizes the City Manager to place appropriations and estimated revenues in effect on July 1, 2024 and as shown in the FY2024-25 Capital Improvement Budget.
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I hereby certify that the foregoing resolution of the Council of the City of Richmond was duly passed and adopted at the regular meeting thereof held June ____, 2024 by the following vote:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
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Clerk of the City of Richmond
(SEAL)
Approved:
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Mayor
Approved as to form:
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City Attorney