HomeMy WebLinkAboutRES CC 2017 3605 2017 0621 RESOLUTION NO. 2017-3605
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2016/2017 BUDGET BY APPROPRIATING $428,551.34 AND
AUTHORIZING THE TRANSFERS FROM VARIOUS
SOURCES TO THE EQUIPMENT REPLACEMENT FUND
(3003); 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 (3003) 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 15, 2016, the City Council adopted the Operating and Capital
Improvement Budget for FY 2016/2017, and it does not include any transfers to the
Equipment Replacement Fund (3003); and
WHEREAS, a staff report has been presented to the City Council summarizing the
projected unfunded obligation totaling $1,499,637.65 at June 30, 2017. Of this total, the
aggregate share of $1,034,330.76 for transit machineries will continue to be deferred
leaving $465,306.89 to be funded; and
WHEREAS, accounting entries totaling $36,755.55 — $14,783.83 from the Gas Tax
Fund (2415), $3,310.96 from 84-2 Steeple Hill T2865 (2302), $3,446.09 from 84-2
Carlsberg (2312), $6,194.05 from Country Club Estates (2315) and $9,020.62 from
Moorpark Highlands (2322) are required to be designated as additional obligation in
Account 33020 — Reserve for Equipment Replacement within the respective funds; and
WHEREAS, the Equipment Replacement Fund (3003) accounts for the aggregate
city-wide share of the obligation of $428,551.34. The General Fund's portion of
$421,829.34 is recommended to be funded by a transfer from the Special Projects Fund
(3004). A budget amendment is required and the following transfers are recommended
from these funds: Library Facilities (2004) - $5,606.00; Traffic Systems Management
(2001) - $1,116.00; and Special Projects (3004) - $421,829.34; 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 for transit related assets
with aggregate total of $1,034,330.76; Local Transit Article 8c Fund (2414) - $897,007.38
and Proposition 1B Local Streets and Roads Fund (2434) - $137,323.38 is hereby
approved.
Resolution No. 2017-3605
Page 2
SECTION 2. That the accounting entries totaling $36,755.55 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
$428,551.34, 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 21st day of June, 2017.
Jan'. a S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
"a
a.
Attachments:
Exhibit 'A'
Exhibit 'B'
Resolution No. 2017-3605
Page 3
Exhibit A
Fund Balance Designation for Equipment Replacement Reserve
Fund Fund/Account From To
Gas Tax 2415-000-00000-33990 ' $14,783.83
2415-000-00000-33020 $14,783.83
84-2 Steeple Hill T2865 2302-000-00000-33990 $3,310.96
2302-000-00000-33020 $3,310.96
84-2 Carlsberg 2312-000-00000-33990 $3,446.09
2312-000-00000-33020 $3,446.09
Country Club Estates 2315-000-00000-33990 $6,194.05
2315-000-00000-33020 $6,194.05
Moorpark Highlands 2322-000-00000-33990 $9,020.62
2322-000-00000-33020 $9,020.62
TOTAL $36,755.55 $36,755.55
Resolution No. 2017-3605
Page 4
Exhibit B
Budget Amendment for
Various Funds for
Equipment Replacement Obligation
2016/2017
A. Fund Allocation
Fund/Account No. Fund Description Amount
2001-000-00000-33990 Traffic Systems Management Fund $1,116.00
2004-000-00000-33990 Library Facilities Fund $5,606.00
3004-000-00000-33990 Special Projects Fund $421,829.34
3003-000-00000-33990 Equipment Replacement Fund ($428,551.34)
Total $0.00
B. Revenue Budget Allocation
Fund/Account No. Current Budget Revision Amended Budget
3003-000-00000-49010 $0.00 $428,551.34 $428,551.34
Total $0.00 $428,551.34 $428,551.34
C. Expenditure Appropriation
Budget Number Current Budget Revision Revised Budget
2001-000-00000-59010 $0.00 $1,116.00 $1,116.00
2004-000-00000-59010 $0.00 $5,606.00 _ $5,606.00
3004-000-00000-59010 $0.00 $421,829.34 $421,829.34
Total $0.00 $428,551.34 $428,551.34
D. Interfund Transfer
Transfer TO
FROM 3003-000-00000-49010
2001-000-00000-59010 $1,116.00
2004-000-00000-59010 $5,606.00
3004-000-00000-59010 $421,829.34
Total $428,551.34
Resolution No. 2017-3605
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. 2017-3605 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the
21st day of June, 2017, and that the same was adopted by the following vote:
AYES: Councilmembers Mikos, Pollock, Simons, Van Dam, and Mayor Parvin
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS my hand and the official seal of said City this 27th day of June, 2017.
•
Maureen Benson, City Clerk
(seal)
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