HomeMy WebLinkAboutReso 95-17 Authorizing Special Designation of Gen Fund for FY 2016-17 RESOLUTION NO. 95 — 17
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR
FISCAL YEAR 2016-17
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
onetime revenues during the preparation of the Fiscal Year 2017-18 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 2016-17 year -end balance to the
Committed fund balance sub - categories as follows:
Actual Increase Decrease NET Projected
Reserve Balances 2015-16 2016-17 2016-17 CHANGE 2016-17
Committed 1,330,672
Public Safety Reserve 1,000,000 1,000,000 1,000,000
Fire Svcs OPEB 3,004,000 330,672 330,672 3,334,672
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 left in the Unassigned
(Available) Reserve.
PASSED, APPROVED AND ADOPTED this 20th day of June 2017, by the following vote:
AYES: Councilmembers Biddle, Gupta, Hernandez and Mayor Haubert
NOES:
ABSENT: Councilmember Goel
ABSTAIN:
Mayor
ATTEST:
Pte,-+-y City Clerk
Reso No. 95-17, Adopted 6/20/2017, Item No. 8.1 Page 1 of 1