Resolution 2017-24RESOLUTION NO. 2017-24
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF GILROY AMENDING THE BUDGET FOR
SAID CITY FOR FISCAL YEARS 2017 -2018 AND 2018-
2019 AND APPROPRIATING PROPOSED
EXPENDITURES FOR PURPOSES SET FORTH IN
THE BUDGET AND REVISING THE GENERAL
FUND RESERVE POLICY
WHEREAS, the City Council approved the FY 2018 and FY 2019 proposed
budgets on June 5, 2017 at a properly noticed public hearing and meeting for FY 2018
with anticipated revenue totaling $117,436,298 and anticipated expenditures totaling
$122,674,546 and said proposed budget for FY 2019 as finally revised provides for
anticipated revenue totaling $119,243,333 and anticipated expenditures totaling
$117,602,622 and said budget is now before the Council for adoption and said Council is
satisfied with said budget as finally revised; and
WHEREAS, at that same June 5, 2017, the City Council was presented with
recommended amendments (decision packages) to the base budget which would use one-
time reserves from the general and non - general funds and also commit those funds to
ongoing costs supported by ongoing revenues; and
WHEREAS, Council voted to re- consider budget amendments at the June 12,
2017 meeting; and
WHERAS, at that meeting, Council directed staff to return to the June 19, 2017
meeting to revise the City's general fund reserve policy from 40% of annual operating
expenditures (25% for operations /15% for economic uncertainty) and for approval of
decision packages as proposed by staff with the exception of $25,000 for a reserve study;
NOW, THEREFORE, BE IT RESOLVED that it is hereby ordered that the said
amended budget including the anticipated revenues, expenditures and un- appropriated
surpluses, as revised, be and the same is hereby appropriated and adopted as the amended
budget (as shown in exhibit A) of the City of Gilroy for the fiscal years 2017 -2018 and
2018 -2019, and
BE IT FURTHER RESOLVED that from the effective date of these budget
amendments, the City's general fund reserve policy is now 30% of annual operating
RESOLUTION NO 2017 -24
expenditures (20% for operations/ 10% for economic uncertainty) and shall remain in
effect until revised by the City Council; and
BE IT FURTHER RESOLVED that from the effective date of the budget
amendment, the several amounts stated therein as proposed expenditures shall be and
become appropriated to the several offices, agencies and departments for the respective
objects and purposes therein specified.
PASSED AND ADOPTED this 19th day of June 2017 by the following vote:
AYES: COUNCILMEMBERS: BRACCO, LEROE- MUNOZ,
KLOECKER, TOVAR and VELASCO
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: HARNEY and TUCKER
ATTEST:
City
v eiasco, mayor
RESOLUTION NO 2017 -24
I, SHAWNA FREELS, City Clerk of the City of Gilroy, do hereby certify that the
attached Resolution No. 2017 -24 an original resolution, or true and correct copy of a city
Resolution, duly adopted by the Council of the City of Gilroy at a regular meeting of said
Council held on the 19th day of June, 2017, at which meeting a quorum was present.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Official Seal of
the City of Gilroy this 20th day of-June, 2017.
Shawnels, MMC '-Y "-
City Clerk of the City of Gilroy
(Seal)