HomeMy WebLinkAboutReso 58-20 Authorizing A Special Designation Of General Fund Reserves For Fiscal Year 2019-20Reso No. 55-20, Item 4.3, Adopted 06/16/20 Page 1
RESOLUTION NO. 58 – 20
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR
FISCAL YEAR 2019-20
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 2020-21 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 2019-20 year-end balance to the
Committed fund balance as follows:
• Create a new reserve for Cultural Arts Center and transfer $3,779,138 from reserve for
Cemetery Expansion
• Increase the reserve for Fire Service Pension/OPEB by $317,325
• Create a new reserve for Advance to Public Facility Fee, funded with half of the Fiscal Year
2019-20 surplus after the year-end balance is finalized, for Wallis Ranch Community Park,
Jordan Ranch Neighborhood Square, and Library Tenant Improvements projects.
BE IT FURTHER RESOLVED that, any net resources remaining after special designations,
and after meeting the Fund Balance and Reserves Policy requirements, will be left in the
Unassigned (Available) Reserve.
PASSED, APPROVED, AND ADOPTED this 16th day of June 2020, by the following vote:
AYES: Councilmembers Goel, Hernandez, Josey, Kumagai and Mayor Haubert
NOES:
ABSENT:
ABSTAIN:
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Mayor
ATTEST:
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City Clerk