HomeMy WebLinkAboutReso 127-24 Item 8.1 Authorizing Additional Special Designations of General Fund Reserves for FiscalDocusign Envelope ID: 780BD52D-8516-42D4-90BF-486638470777
RESOLUTION NO. 127 — 24
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING ADDITIONAL SPECIAL DESIGNATIONS OF GENERAL FUND RESERVES
FOR FISCAL YEAR 2023-24
WHEREAS, the City's Fund Balance and Reserves Policy requires special fund balance
allocations to be adopted by the City Council, and allows the City Council to take action prior to
the end of the fiscal year to direct a specific assignment of the fund balance; and
WHEREAS, Staff reviewed updated information regarding fund balance and estimated
one-time revenues during the preparation of the Fiscal Year 2024-25 and 2025-26 Budget; and
WHEREAS, the City Council approved allocations to specific Committed Reserves and
Assigned Reserves on June 25, 2024, based on estimated revenues and expenditures at that
time.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby make additional special allocation of the Fiscal Year 2023-24 year-end balance to the
Committed fund balance as follows:
• Increase the Downtown Public Improvement reserve by $10,000,000
BE IT FURTHER RESOLVED that any net resources remaining after special designations
will be left in the Unassigned (Available) Reserve.
PASSED, APPROVED AND ADOPTED this 5th day of November 2024, by the following
vote:
AYES: Councilmembers Hu, Josey, Qaadri, Thalblum and Mayor McCorriston
NOES:
ABSENT:
ABSTAIN:
ATTEST:
DocuSigned by:
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City Clerk
"—Signed by:
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Mayor
Reso. No. 127-24, Item 8.1, Adopted 11/05/2024 Page 1 of 1