RESOLUTION NO. 2025-XXXX
RESOLUTION NO. 2025-XXXX APPROPRIATION OF FY 2024-25 GENERAL FUND ONE-TIME REVENUES PURSUANT TO THE FISCAL MANAGEMENT POLICY WHEREAS, the City of San Marcos is committed to maintain a prudent level of financial resources to sustain services and infrastructure for the community; and WHEREAS, the City of San Marcos has created a Fiscal Management Policy that outlines allocation of significant revenues resulting from one-time items, such as real estate transactions, legal or dispute settlements, unanticipated reimbursements or other unanticipated revenue receipts to the Vehicle and Equipment Fund, Infrastructure Fund, and Facilities Fund; and WHEREAS, the Fiscal Management Policy provides that the City Manager may, based on specific project needs at a specific time, recommend an alternate allocation of funds and will bring that recommendation forward to the City Council for approval; and WHEREAS, the City of San Marcos has identified Fiscal Year 2024-25 General Fund one-time revenues resulting from a loan repayment in the amount of $6,222,500 in principal and $1,938,308.76 interest related to a January 28, 2025 Agreement Regarding Modification of Loan Agreements with Lab Holdings, LLC (also known as AOA San Marcos); and WHEREAS, the City Council has considered the allocation of the Fiscal Year 2024-25 General Fund one-time revenues of $8,160,808.76 to appropriations for the future Fire Station 5 Construction Capital Improvement Program project; and NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Marcos does hereby approve, as required under the Fiscal Management Policy No. 2015- 11, the appropriation of $8,160,808.76 from Fiscal Year 2024-25 General Fund one-time revenues to the Capital Improvement Program budget for a future Fire Station 5 construction project.
PASSED, APPROVED AND ADOPTED by the City Council of the City of San Marcos this 13th day of May 2025, by the following roll call vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
_____________________________
Rebecca D. Jones, Mayor
City of San Marcos
ATTEST:
_____________________________
Phillip Scollick, City Clerk
City of San Marcos
Resolution No. 2025-XXXX