HomeMy WebLinkAbout043-2014RESOLUTION NO. 43-2014
APPROVING THE 2014/15 OPERATING BUDGET,
SETTING THE 2014/15 APPROPRIATION LIMIT AND AMENDING THE
FY 2013/14 GENERAL FUND TRANSFERS TO THE LLAD
WHEREAS, an Operating Budget for FY 2014/15 was submitted to the Town Council on
May 6, 2014; and
WHEREAS, the Town Council held four public study sessions on May 6, May 13, May
20 and May 27, 2014 to review the draft FY 2014/15 Operating Budget; and
WHEREAS, the Town Council accepted public testimony and studied the proposed
Operating Budget; and
WHEREAS, the emphasis in the Operating Budget is focused upon maintaining current
program and service levels to the extent that is possible in the current economic climate;
and
WHEREAS, the Operating Budget proposes programmatic service levels which are
within the Town's financial means, while reserving funds for capital projects, meeting
debt service obligations, and adequate reserve and contingency levels; and
WHEREAS, appropriated transfers from the General fund to the LLAD for 2013/14 are
reallocated from CIP projects to operational subsidies as shown in the 10 Year Fund
Activity section, Projected 2014 column, of the 2014/15 Operating Budget; and
WHEREAS, sufficient revenues are available to fund all 2014/15 expenditures; and
WHEREAS, the Town Council is required to adopt an appropriation limit for proceeds
of taxes pursuant to Proposition 111 passed by the voters in June 1990; and
WHEREAS, this limit fixes the amount of general tax revenue that can be appropriated
in a given fiscal year; and
WHEREAS, any excess revenue must be returned to the taxpayers; and
WHEREAS, pursuant to Proposition 111, the Town Council has selected the growth in
California per capita income and population growth within the County as the adjustment
factors for FY 2014/15; now therefore, be it
RESOLVED that the Danville Town Council hereby:
1. Adopts the 2014115 Operating Budget as recommended;
2. Appropriates Town Revenues, Fund Balances and Special Revenues totaling
$28,562,610 for 2014/15 Operating Expenditures;
3. Sets the FY 2014/15 Appropriation Limit at $32,690,770;
4. Amends and reallocates FY 2013/14 General Fund transfers to the LLAD from
CIP projects to operating subsidies as shown in the 10 Year Fund Activity;
5. Directs the Town staff to publish the 2014115 Operating Budget; and
6. Directs the Town Manager to implement the 2014115 Operating Budget
APPROVED by the Danville Town Council at a regular meeting on June 17, 2014, by
the following vote:
AYES: Storer, Doyle, Arnerich, Morgan, Stepper
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
CITY ATTORNEY
PAGE 2 OF RESOLUTION NO. 43-2014