HomeMy WebLinkAboutRES CC 2016 3483 2016 0302 RESOLUTION NO. 2016-3483
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2015/16 BUDGET TO INCREASE REVENUES IN THE
ENDOWMENT FUND (2800) FOR THE RENTAL RATE AND TO
INCREASE EXPENDITURES IN THE GENERAL FUND (1000)
FOR THE PROPERTY MAINTENANCE AT 61 HIGH STREET
WHEREAS, on June 17, 2015, the City Council adopted the Operating and
Capital Improvement Projects Budget for Fiscal Year 2015/16; and
WHEREAS, the City Council of the City of Moorpark desires to enhance cultural
amenities in the City for the benefit of the public by providing a support facility for the
High Street Arts Center (HSAC); and
WHEREAS, on September 24, 2015 the City and Moorpark Foundation for the
Arts (Foundation) entered into a three-year Operating Agreement to use the HSAC as a
performing arts venue beginning July 1, 2015 and ending June 30, 2018 with rent in the
amount of$1.00 per year; and
WHEREAS, on December 16, 2015, the City Council adopted Resolution No.
2015-3468 approving the purchase of the property at 61 High Street and appropriating
$885,000.00 from the Endowment Fund (2800). The escrow closed on January 13,
2016 with final acquisition cost of$883,921.20; and
WHEREAS, the Foundation is the current tenant of 61 High Street and the City
desires to amend the Operating Agreement to revise several provisions including a
rental rate of $3,000.00 per month, which will be used to offset the purchase price. For
fiscal year 2015/16, a budget revenue increase of $12,000.00 is needed in the
Endowment Fund; and
WHEREAS, an aggregate budget amendment of $5,000.00 is requested to fund
property maintenance at 61 High Street from the General Fund (1000); and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and the resultant impact to the budget line items.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget revenue increase of $12,000.00 in the Endowment Fund
(2800) and a budget expenditure increase of $5,000.00 from the General Fund (1000),
as more particularly described in Exhibit "A", attached hereto, is hereby approved.
Resolution No. 2016-3483
Page 2
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 2nd day of March, 2016.
0
40 ice S. Paniin, Mayor
ATTEST:
Maureen Benson, City Clerk AA—
Exhibit A – Budget Amendment
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Resolution No. 2016-3483
Page 3
EXHIBIT A
BUDGET AMENDMENT FOR
General Fund
Property Maintenance for 61 High Street
Endowment Fund
Revenue Adjustment for Rents received at 61 High Street
FISCAL YEAR 2015/2016
FUND BALANCE ALLOCATION:
Fund-Account
Fund Title Number Amount
GENERAL FUND 1000-5500 $ 5,000.00
ENDOWMENT FUND 2800-5500 $ (12,000.00)
Total $ (7,000.00)
REVENUE BUDGET ALLOCATION:
Current Amended
Account Number Budget Revision Budget
2800.7625.5096.3404 $ - $ 12,000.00 $ 12,000.00
$ - $ - $
Total $ - $ 12,000.00 $ 12,000.00
Resolution No. 2016-3483
Page 4
STATE OF CALIFORNIA
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK
I, Maureen Benson, City Clerk of the City of Moorpark, California, do hereby
certify under penalty of perjury that the foregoing Resolution No. 2016-3483 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the 2nd
day of March, 2016, and that the same was adopted by the following vote:
AYES: Councilmembers Mikos, Millhouse, Pollock, Van Dam, and Mayor Parvin
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS my hand and the official seal of said City this 7th day of March, 2016.
Maureen Benson, City Clerk
(seal)
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