HomeMy WebLinkAboutRES CC 2016 3509 2016 0601 RESOLUTION NO. 2016-3509
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2015/16 BUDGET BY APPROPRIATING $328,414 AND
AUTHORIZING THE TRANSFERS FROM VARIOUS
SOURCES TO THE EQUIPMENT REPLACEMENT FUND
(4003); AND AUTHORIZING THE DESIGNATION OF FUND
BALANCE FOR EQUIPMENT REPLACEMENT OBLIGATION
IN CERTAIN RESTRICTED FUNDS
WHEREAS, in Fiscal Year (FY) 1985/86 the City established the Equipment
Replacement Fund (4003) to set-aside money to replace various machineries and
equipment as they age and/or as the asset's useful life has exhausted; and
WHEREAS, on June 17, 2015, the City Council adopted the Operating and Capital
Improvement Budget for FY 2015/16, and it does not include any transfers to the
Equipment Replacement Fund (4003); and
WHEREAS, a staff report has been presented to the City Council summarizing the
projected unfunded obligation totaling $1,398,789 at June 30, 2016. Of this total, the
shares of Local Transit Article 8c Fund (5000) - $753,532 and RDA-SA Economic
Development Fund (9101) of$221,373 will continue to be deferred; and
WHEREAS, accounting entries totaling $95,470 — $54,530 from the Gas Tax Fund
(2605), $6,622 from 84-2 Steeple Hill T2865 (2302), $6,894 from 84-2 Carlsberg (2312),
$12,387 from Country Club Estates (2315) and $15,037 from Moorpark Highlands (2322)
are required to be designated as additional obligation in Account 5301 — Reserve for
Equipment Replacement within the respective funds; and
WHEREAS, the Equipment Replacement Fund (4003) accounts for the aggregate
city-wide share of the obligation of $328,414. The General Fund's portion of $257,262 is
recommended to be funded by a transfer from the Special Projects Fund (4004). A budget
amendment is required and the following transfers are recommended from these funds:
Library Facilities (2154) - $17,115; Traffic Systems Management (2001) - $54,037; and
Special Projects (4004) - $257,262; and
WHEREAS, Exhibits "A" and "B", attached hereto and made a part hereof,
describes said budget amendments and the resultant impacts to the budget line items.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That the deferral of the funding obligation of Local Transit Article
8c Fund (5000) - $753,532 and RDA-SA Economic Development Fund (9101) - $221,373
is hereby approved.
Resolution No. 2016-3509
Page 2
SECTION 2. That the accounting entries totaling $95,470 to designate
additional fund balance reserve for equipment replacement as more particularly described
in Exhibit "A" is hereby approved.
SECTION 3. That an aggregate budget amendment and fund transfer of
$328,414, as more particularly described in Exhibit "B", is hereby approved.
SECTION 4. 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 1st day of June, 2016.
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ce S. Parvin, Mayor
ATTEST: // ,
Maureen Benson, City Clerk /4`` ' r�-�N
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Attachments: Exhibit 'A'
Exhibit 'B'
Resolution No. 2016-3509
Page 3
Exhibit A
Fund Balance Designation for Equipment Replacement Reserve
Fund Fund/Account From To
Gas Tax 2605-5500 $54,530
2605-5301 $54,530
84-2 Steeple Hill T2865 2302-5500 $6,622
2302-5301 $6,622
84-2 Carlsberg 2312-5500 $6,894
2312-5301 $6,894
Country Club Estates 2315-5500 $12,387
2315-5301 $12,387
Moorpark Highlands 2322-5500 $15,037
2322-5301 $15,037
TOTAL $95,470 $95,470
Resolution No. 2016-3509
Page 4
Exhibit B
Budget Amendment for
Various Funds for
Equipment Replacement Obligation
2015/2016
A. Fund Allocation
Fund/Account No. Fund Description Amount
2001-5500 Traffic Systems Management $54,037.00
2154-5500 Library Facilities Fund $17,115.00
4004-5500 Special Projects Fund $257,262.00
4003-5500 Equipment Replacement ($328,414.00)
Total $0.00
B. Revenue Budget Allocation
Fund/Account No. Current Budget Revision Amended Budget
4003-3720 $0.00 $328,414.00 $328,414.00
Total $0.00 $328,414.00 $328,414.00
C. Expenditure Appropriation
Budget Number Current Budget Revision Revised Budget
2001-9820 $0.00 $54,037.00 $54,037.00
2154-9820 $0.00 $17,115.00 $17,115.00
4004-9820 $0.00 $257,262.00 $257,262.00
Total $0.00 $328,414.00 $328,414.00
D. Interfund Transfer
Transfer TO
FROM Fund Fund 4003
2001-9820 $54,037.00
2154-9820 $17,115.00
4004-9820 $257,262.00
Total $328,414.00
Resolution No. 2016-3509
Page 5
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. 2016-3509 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the 1st
day of June, 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 15th day of June, 2016.
Maureen Benson, City Clerk
(seal)
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