RESOLUTION NO. 2024-01-XXXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SIGNAL HILL, CALIFORNIA, AUTHORIZING APPROPRIATIONS FROM THE FISCAL YEAR 2022-23 GENERAL FUND OPERATING SURPLUS, CURRENT YEAR APPROPRIATION ADJUSTMENTS, AND CAPITAL IMPROVEMENT PLAN BUDGET AND RELATED FUNDING TRANSFERS FOR PHASE I OF THE CIVIC CENTER MASTER PLAN PROJECT, AMENDING THE FISCAL YEAR 2023-24 BUDGET WHEREAS, the City Manager submitted a proposed Annual Operating and Capital Budget for Fiscal Year 2023-24 which was adopted by the City Council on June 27, 2023; and WHEREAS, annually, the City prepares an Annual Comprehensive Financial Report in coordination with an independent external auditor; and WHEREAS, staff presented the City’s Fiscal Year 2022-23 Annual Comprehensive Financial Report at the City Council meeting of December 12, 2023, which stated Fiscal Year 2022-23 closed with revenues exceeding expenditures, including net transfers, in the amount of $7,996,701; and WHEREAS, this one-time surplus funding can be allocated to reserves, programs, projects, and operating expenditures; and WHEREAS, approving the Capital Improvement Plan (CIP) budget and related funding transfers for Phase I of the Civic Center Master Plan project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SIGNAL HILL, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
THE ANNUAL OPERATING AND CAPITAL BUDGET for Fiscal Year 2023-24 is hereby amended by enacting those reserve transfers, current year appropriations and capital improvement plan adjustments (24-03) as shown in Table A.
TABLE A. RESERVE TRANSFERS AND
CURRENT YEAR APPROPRIATIONS AND CIP ADJUSTMENTS
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Signal Hill, California, on this 23rd day of January, 2024. ________________________________
LORI WOODS
MAYOR
ATTEST:
DARITZA GONZALEZ
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )ss
CITY OF SIGNAL HILL )
I, DARITZA GONZALEZ, City Clerk of the City of Signal Hill, California, hereby certify that Resolution No. 2024-01-XXXX was adopted by the City Council of the City of Signal Hill at a regular meeting held on the 23rd day of January, 2024, and that the same was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
______________________________
DARITZA CONZALEZ
CITY CLERK
1 Resolution No. 2024-01-XXXX
January 23, 2024