HomeMy WebLinkAboutAGENDA REPORT 2014 0917 CCSA REG ITEM 10H ITEM 10.H.
CITY OF MOORPARK,CALIFORNIA
City Council Meeting
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MOORPARK CITY COUNCIL 44014 33/
AGENDA REPORT t
BY: (77'1.
TO: Honorable City Council
FROM: Ron Ahlers, Finance Director
DATE: August 13, 2014 (City Council Meeting of September 17, 2014)
SUBJECT: Consider Resolution Closing Highway Users Tax (HUT) 2103 Fund
(2606) and Transferring All Assets, Liabilities and Fund Balances to
the Gas Tax Fund (2605)
SUMMARY
The State Controller's Office of the State of California (SCO) conducted an audit of the
Gas Tax Fund (2605) and the Traffic Congestion Relief Fund (TCRF) (2610) of the City
in 2013. The TCRF has been eliminated by the State. The State swapped the sales tax
on gasoline with an excise tax, Highway Users Tax 2103 (HUT 2103). At the meeting of
September 4, 2013, the City Council authorized that the TCRF be closed and any
remaining assets be transferred to the HUT 2103 Fund (2606). The SCO auditor
recommended that the HUT 2103 Fund (2606) be closed and be combined with the Gas
Tax Fund (2605). Staff agreed with this recommendation and prepared the FY 2014-15
budget by transferring revenues and expenses from fund 2606 to fund 2605. Staff is
requesting the City Council close fund 2606 and transfer all assets, liabilities and fund
balances from fund 2606 to fund 2605 effective June 30, 2014 (the close of FY 2013-
14)
DISCUSSION
The attached resolution will transfer the assets (approximately $1.2 million), liabilities
(approximately $6,000) and fund balances (approximately $1.2 million) from fund 2606
to fund 2605.
FISCAL IMPACT
None. The resolution transfers all assets, liabilities and fund balances from one fund to
another effective June 30, 2014.
STAFF RECOMMENDATION (Roll Call Vote)
Adopt Resolution No. 2014-
Attachment:
Resolution No. 2014 -
142
RESOLUTION NO. 2014 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, CLOSING HIGHWAY USERS
TAX (HUT) 2103 FUND (2606) AND TRANSFERRING ALL
ASSETS, LIABILITIES AND FUND BALANCES TO THE GAS
TAX FUND (2605)
WHEREAS, on June 19, 2013, the City Council adopted the Operating and
Capital Improvement Budget for Fiscal Year 2013/14; and
WHEREAS, a staff report has been presented to City Council discussing the
closure of Highway Users Tax (HUT) 2103 Fund (2606) and transferring all assets,
liabilities and fund balances to the Gas Tax Fund (2605).
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. Highway Users Tax (HUT) 2103 Fund (2606) is hereby closed and
all assets, liabilities and fund balances are transferred to the Gas Tax Fund (2605)
effective June 30, 2014.
SECTION 2. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 1ih day of September, 2014.
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
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