HomeMy WebLinkAboutReso 115-23 Authorizing Additional Special Designations of General Fund Reserves for Fiscal Year 2022-23
Reso. No. 115-23, Item 5.4, Adopted 11/07/2023 Page 1 of 1
RESOLUTION NO. 115 – 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING ADDITIONAL SPECIAL DESIGNATIONS OF GENERAL FUND RESERVES
FOR FISCAL YEAR 2022-23
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 2023-24 Budget; and
WHEREAS, the City Council approved allocations to specific Committed Reserves and
Assigned Reserves on June 6, 2023, 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 2022-23 year-end balance to the
Committed fund balance as follows:
• Increase the Advance to Public Facility Fee by $1,606,916
• Increase the Economic Stability reserve by $8,000,000
• Increase the Downtown Public Improvement reserve by $5,000,000
• Increase the Public Safety Reserve by $2,000,000
• Decrease the Fallon Sports Park Contingency by $410,500
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 7th day of November 2023, by the following
vote:
AYES: Councilmembers Hu, Josey, McCorriston, Qaadri and Mayor Hernandez
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
DocuSign Envelope ID: 436662E0-865B-4C59-8558-09F98105B3D7