City Council
259 N. Wilma Avenue
Ripon, CA 95366
MEMO
To: Honorable City Council
From: Lisa Roos, City Clerk & Finance Director
Date: 04/08/2025
Subject: General Fund Transfer to Street & Roads Reserve for 2022-23 and 23-24 RECOMMENDED ACTION:
This resolution approves the financial transfer to the Street and Road Reserve Fund for Fiscal Years 2022-23 and 2023-24.
BACKGROUND:
In 2015, the City Council approved a policy (Resolution 15-23) that requires 33 percent of any General Fund surplus be transferred to the Street & Road Reserve Fund with the purpose of providing a new funding source dedicated to reconstructing the streets and roads in Ripon that have exceeded their useful life.
DISCUSSION:
The financial audit has been completed by Price Paige and Company for Fiscal Years 2022-23 and 2023-24. Below is a summary of the audited General Fund financials for each year:
FY 2022-23 FY 2023-24
Revenue $16,909,055 $17,170,679
Expense -$14,955,134 -$15,187,165
Transfers -$879,480 -$753,621
Net Surplus $1,074,441 $1,229,893
Street & Road Transfer (33%) $354,566 $405,865
Based upon our Street and Road Reserve Policy approved by Resolution 15-23, staff is recommending that $760,431 be transferred from the General Fund to the Street & Road Reserve Fund.
After these transfers are made, the balance in the Street & Road Reserve Fund will be $3,728,743.
RESOLUTION NO. 25-10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RIPON APPROVING FISCAL YEARS 2022-23 AND 2023-24
FINANCIAL TRANSFERS
WHEREAS, City of Ripon has completed the Fiscal Years 2022-23 and 2023-24 financial audits and determined a general fund surplus was available for certain uses; and WHEREAS, previous hereto, the City of Ripon has approved Resolution 15-23 adopting a Street and Road reserve policy that requires a minimum of 33 percent of general fund surplus to be set aside for the funding of reconstructing streets and roads in Ripon that have exceeded their useful life.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ripon that the City of Ripon does hereby approve the transfer of funds from the General Fund to the following funds:
Street and Road Reserve Fund: $354,566 (FY 2022-23)
Street and Road Reserve Fund: $405,865 (FY 2023-24)
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Ripon this 8th day of April, 2025, by the following vote:
RESULT: ADOPTED BY CONSENT VOTE [UNANIMOUS]
MOVER: Michael Restuccia, Council Member
SECONDER:Leo Zuber, Council Member
AYES: de Graaf, Barton, Uecker, Restuccia, Zuber
THE CITY OF RIPON,
A Municipal Corporation
By ________________________________
DANIEL DE GRAAF, Mayor
ATTEST:
By: ___________________________
LISA ROOS, City Clerk