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Home My Public Portal About2011.235 (10-18-11)RESOLUTION NO. 2011.235 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING THE PROPOSED BUDGET ADJUSTMENTS AND HEREBY AMENDING THE CITY'S ADOPTED FISCAL YEAR 2010 -2011 OPERATING BUDGET AND ADOPTED FISCAL YEAR 2011 -2012 OPERATING BUDGET WHEREAS, the City operates on a modified accrual basis for our budgeting and accounting systems in accords with the Generally Accepted Accounting Principles (GAAP); and WHEREAS, the Fiscal Year 2010 -2011 (FY 11) ended on June 30, 2011 in which the City has 60 days thereafter to record all services rendered and financial transactions that occurred in FY 11 into the City's financial system; and WHEREAS, in order to close the City's books for FY 11, staff has identified several budget adjustments that must be made to the FY 11 Adopted Budget in order to preserve the City's fiscal integrity and mitigate against audit findings; and WHEREAS, the City Council of the City of Lynwood (the "City Council ") adopted the City of Lynwood's Fiscal Year 2011 -2012 (FY 12) Operating Budget on June 7, 2011; and WHEREAS, staff presents to the City Council annually a First Quarter fiscal update to report the City's fiscal performance ending FY 11 based on actual figures, and to revisit any FY 12 financial assumptions with regard to year -end performance as necessary; and WHEREAS, as a result, staff has identified items incorrectly budgeted and other fiscal issues that need to be addressed which require further budget adjustments to the FY 12 Adopted Budget. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY RESOLVE AND DETERMINE AS FOLLOWS: Section 1. By adoption of this resolution, the City Council approves the Proposed FY 11 Budget Adjustments hereto attached as Exhibit A and hereby amends the FY 2010 -11 Adopted Budget. Section 2. Further, by adopting this resolution, the City Council approves the FY 12 Proposed Budget Adjustments hereto attached as Exhibit B and hereby amends the FY 2011 -12 Adopted Budget. Section 3. The City Council authorizes the City Manager, or his designee, to make the necessary budget adjustments to the FY 12 Adopted Budget for the following positions: City Manager, Business Revenue Manager, and Block Watch Coordinator. Section 4. By adoption of this resolution, the City Council authorizes the City Manager, or his Designee, to utilize available funds in the City's general checking account to support City's operations that rely on reimbursements of expenditures in other funds. Section 5. The City's general checking account shall be replenished by all deferred revenues once received, thereby incurring no fiscal impact. Section 6. This Resolution shall go into effect immediately upon its adoption. Section 7. The City Clerk shall certify as to the adoption of this Resolution. PASSED, APPROVED and ADOPTED this 18 day of October, 2011. Aide Castro, Mayor ATTEST: Maria Quinonez, Ci y Clerk Rv APPROVED AS TO FORM: �A rred Galante, City Attorney APPROVED AS TO CONTENT: Robert S. orrez, is t City Manager STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a regular meeting held on the 18 th day of October, 2011. AYES: COUNCIL MEMBERS FLORES, RODRIGUEZ, SANTILLAWBEAS, MORTON AND CASTRO NOES: NONE ABSENT: NONE ABSTAIN: NONE STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. 2011.235 on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 18 th day of October, 2011. Exhibit A City of Lynwood FY 11 Budget Adjustments 1 This proposed amendment is the amount that is recorded into the Escrow account and will not affect the fund balance. Expenditures ACCOUNT DESCRIPTION FY 11 CURRENT BUDGET PROPOSED AMENDMENT FY 11 REVISED BUDGET 4011.67.866.62015 Energy Efficiency Imp $537,989 $35,290 $573,279 4011.67.943.60001 Well No. 6 Abandonment $13,021 $18,616 $31,637 4011.67.945.62015 Ham Park $50,000 $422,867' $472,867 Revenues ACCOUNT DESCRIPTION FY 11 CURRENT BUDGET PROPOSED AMENDMENT FY 11 REVISED BUDGET 3682.45.32150 DOE Block Grant $60,000 $520,955 $580,955 Transfers -Out ACCOUNT DESCRIPTION FY 11 CURRENT BUDGET PROPOSED AMENDMENT FY 11 REVISED BUDGET 3683.95.991.68020 DOE Block Grant $537,989 $35,290 $573,279 4451.95.991.68020 RHZ Fund 1 $33,887 $30,001 $63,888 2151.95.991.68020 AB 2928 Fund $560,563 $423,607 $984,170 Transfers -In 1 This proposed amendment is the amount that is recorded into the Escrow account and will not affect the fund balance. Exhibit A City of Lynwood FY 11 Budget Adjustments Revenues 5011.30.37135 Bond Proceeds $0 $4,785,000 $4,785,000 9052.30.37135 Bond Proceeds $8,365,000 ($4,165,000) $4,200,000 Transfers -Out FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET AB 2928 Fund 2151.95.991.68010 Transfer Out — $0 $85,930 $85,930 Traffic Safety 2 FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET 4011.95.38316 CIP Fund - DOE $537,989 $35,290 $573,279 revenue 4011.95.38305 CIP Fund - RHZ $33,887 $30,001 $63,888 Revenue 4011.95.38285 CIP Fund - AB 2928 $560,563 $423,607 $984,170 Revenue Expenditures 5011.30.280.67600 Debt Issuance and $0 $479,617 $479,617 Management Costs 5011.30.280.67601 Debt Service $535,000 $3,760,000 $4,295,000 Payment - Principal Revenues 5011.30.37135 Bond Proceeds $0 $4,785,000 $4,785,000 9052.30.37135 Bond Proceeds $8,365,000 ($4,165,000) $4,200,000 Transfers -Out FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET AB 2928 Fund 2151.95.991.68010 Transfer Out — $0 $85,930 $85,930 Traffic Safety 2 Exhibit A City of Lynwood FYI 1 Budget Adjustments r Expenditures FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET 4011.67.866.62015 Energy Efficiency $537,989 $35,290 $573,279 Imp 4011.67.943.60001 Well No. 6 $13,021 $18,616 $31,637 Abandonment 4011.67.945.62015 Ham Park $50,000 $422,867' $472,867 Revenues FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET 3682.45.32150 DOE Block Grant $60,000 $520,955 $580,955 Transfers -Out PROPOSED ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET 3683.95.991.68020 •DOE Block Grant $537,989 $35,290 $573,279 4451.95.991.68020 RHZ Fund $33,887 $30,001 $63,888 2151.95.991.68020 AB 2928 Fund $560,563 $423,607 $984,170 Transfers -In 1 This proposed amendment is the amount that is recorded into the Escrow account and will not affect the fund balance. Exhibit A City of Lynwood FY 11 Budget Adjustments FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET 4011.95.38316 CIP Fund - DOE $537,989 $35,290 $573,279 revenue 4011.95.38305 CIP Fund - RHZ $33,887 $30,001 $63,888 Revenue 4011.95.38285 CIP Fund - AB 2928 $560,563 $423,607 $984,170 Revenue Expenditures 5011.30.280.67600 Debt Issuance and $0 $479,617 $479,617 Management Costs 5011.30.280.67601 Debt Service Payment - Principal $535,000 $3,760,000 $4,295,000 Revenues 5011.30.37135 Bond Proceeds $0 $4,785,000 $4,785,000 9052.30.37135 Bond Proceeds $8,365,000 ($4,165,000) $4,200,000 Transfers -Out FY 11 PROPOSED FY 11 ACCOUNT DESCRIPTION CURRENT AMENDMENT REVISED BUDGET BUDGET AB 2928 Fund 2151.95.991.68010 Transfer Out — $0 $85,930 $85,930 Traffic Safety Exhibit A City of Lynwood FY 11 Budget Adjustments Transfers -In ACCOUNT DESCRIPTION FY 11 CURRENT PROPOSED FY 11 REVISED BUDGET AMENDMENT BUDGET 2051.95.38285 Traffic Safety Fund Revenue - AB 2928 $0 $85,930 $85,930 3661.45.32155 Per Capita Grant Revenue $0 $50,000 $50,000 2351.45.32255 Trolley Reimbursement $155,000 $263,450 $418,450 2351.30.36999 Miscellaneous Revenue $0 $62,798 $62,798 Exhibit B City of Lynwood FY 12 Budget Adjustments Expenditures FY 12 PROPOSED FY 12 ACCOUNT DESCRIPTION ADOPTED AMENDMENT REVISED BUDGET BUDGET 2701.45.610.62015 Prof & Contract Svcs $6,000 $56,160 $62,160 Transfers Out FY 12 PROPOSED FY 12 ACCOUNT DESCRIPTION ADOPTED AMENDMENT REVISED BUDGET BUDGET 2101.95.991.xxxxx Gas Tax Fund - $0 $56,160 $56,160 Transfers out Transfers In FY 12 PROPOSED FY 12 ACCOUNT DESCRIPTION ADOPTED AMENDMENT REVISED BUDGET BUDGET 2701.95.38135 Trans In — Gas Tax $0 $56,160 $56,160 Exhibit B Proposed FY 2011 -12 Budget Adjustments 1 The City will deposit $48,635 of revenue from FY 11 to FY 12 to offset operating Animal Control costs for the year. Revenues ACCOUNT (FROM/TO) DESCRIPTION FY 12 ADOPTED PROPOSED FY 12 REVISED BUDGET AMENDMENT BUDGET 1011.40.31125 to 1011.40.445.62015 Prof. /Contractual Services $170,000 $48,635' $218,635 ::, Revenues ACCOUNT DESCRIPTION FY 12 ADOPTED PROPOSED FY 12 REVISED BUDGET AMENDMENT BUDGET Cash 2941.75.32160 reimbursements - $1,938,550 $946,508 $2,885,058 Local grants 1 The City will deposit $48,635 of revenue from FY 11 to FY 12 to offset operating Animal Control costs for the year.