HomeMy WebLinkAboutReso 108-14 General Funds Reserve RESOLUTION NO. 108 - 14
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
* * * * ** * * ** * * *
AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR
FISCAL YEAR 2013-14
WHEREAS, On June 4, 2013 the City Council adopted a revised Fund Balance and Reserves
Policy; and
WHEREAS, the 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 2014-15 and FY 2015-16 Budget.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby make a special allocation of the estimated Fiscal Year 2013-14 year-end balance to the
Committed fund balance sub-categories as follows:
Actual Increase Decrease Projected
Committed Reserves 2012-13 2013-14 2013-14 2013-14
Economic Stability 5,868,847 5,868,847
Downtown Public Impr 1,000,000 1,000,000
Open Space Funding 2,000,000 (2,000,000) -
Affordable Housing 1,000,000 1,000,000
Emerald Glen Aquatic Complex 1,500,000 1,500,000 (102,350) 2,897,650
Emergency Communications 741,000 741,000
Fire Svcs OPEB 7,610,058 400,000 8,010,058
Innovations&New Opport 1,372,785 1,372,785
Maintenance Facility 6,027,950 (6,027,950) -
Cemetery Expansion 750,000 1,641,538 2,391,538
Fallon Sports Park -
Civic Ctr Expansion 391,568 (391,568) -
Emergency Generator - -
Public Safety Complex 3,070,746 (3,070,746) -
it City/School Projects 600,000 (600,000) -
Non-Streets CIP Commitments 2,745,809 - 2,745,809
Shannon Center Parking Lot 775,000 775,000
Advance to Public Facility Fee 2,000,000 2,000,000
One-Time Initiative 1,341,408 1,341,408
Total $ 36,020,171 $ 6,316,538 $ (12,192,614) $ 30,144,095
Page 1 of 2
BE IT FURTHER RESOLVED that, any net resources remaining after special designations, and after
meeting the minimum requirement of two months cash flow in the Unassigned fund balance and a
maximum of 15% asset book value in the Catastrophic Loss reserve, will be assigned as described in
the policy: a) 50% to Pension and Other Post Employment Benefits; and b) 50% to the Non-Streets
Capital Improvements Program reserve.
PASSED, APPROVED AND ADOPTED this 17th day of June, 2014, by the following vote:
AYES: Councilmembers Biddle, Gupta, Haubert, and Mayor Sbranti
NOES: None
ABSENT: Councilmember Hart
ABSTAIN: None
Mayor
ATTEST'
afro Z: ccer-
City Clerk
Reso No. 108-14,Adopted 6-17-14, Item 8.1 Page 2 of 2