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HomeMy WebLinkAboutReso 82-21 Authorizing a Special Designation of General Fund Reserves for Fiscal Year 2020-21Reso. No. 82-21, Item 4.12, Adopted 06/15/2021 Page 1 of 1 RESOLUTION NO. 82 - 21 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN AUTHORIZING A SPECIAL DESIGNATION OF GENERAL FUND RESERVES FOR FISCAL YEAR 2020-21 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 2021-22 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 2020-21 year-end balance to the Committed fund balance as follows: • Increase the reserve for Advance to Public Facilities Fee by $2,500,000 • Increase the reserve for Downtown Public Improvement by $1,545,375 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 15th day of June 2021 by the following vote: AYES: Councilmembers Hu, Josey, Kumagai, McCorriston and Mayor Hernandez NOES: ABSENT: ABSTAIN: _______________ ____ Mayor ATTEST: __________ _______ City Clerk