HomeMy Public PortalAbout2012.052 (03-06-12)RESOLUTION NO. 2012.052
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING
THE FY 2011 -12 MID -YEAR BUDGET REVIEW REPORT AND APPROVING
BUDGET ADJUSTMENTS TO FY 2011 -12 BUDGET
WHEREAS, the City Council adopted the FY 12 Budget on June 7, 2011, and
WHEREAS, since the adoption of the FY 12 Budget, staff found that it is
necessary to make adjustments to certain funds to avoid disruption to services, and
WHEREAS, these budget adjustments provide for increased revenue estimates
in anticipation of incoming revenues, increased expenditures with available revenues;
and reduction of expenditures to match estimated revenues to avoid General Fund
subsidy
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD
HEREBY RESOLVES AS FOLLOWS:
Section 1. That the City Council approves the attached FY 12 Mid -year
Budget Adjustments "Exhibit A"
Section 2 . That the City Council authorizes staff to make the necessary
adjustments to Transfers In and Transfers Out to ensure that expenditures do not
exceed revenues.
Section 3. This Resolution shall be effective immediately upon its adoption.
PASSED, APPROVED and ADOPTED this 6 th day of March, 2012.
c
Jim Morton, Mayor
ATTEST:
APPROVED AS TO FORM:
Fred Galante, City Attorney
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
APPROVED AS TO CONTENT:
Robert S Torr , Assistant
City Manager
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 6 th day of March, 2012.
AYES COUNCIL MEMBERS CASTRO, RODRIGUEZ, SANTILLAN -BEAS,
ALATORRE AND MORTON
NOES NONE
ABSENT NONE
ABSTAIN NONE
'D'A l —
Maria Quinonez, ity Clerk
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 2012.052 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated Dated this 6 th day of March, 2012.
q. _0a E /.:, A
Maria ,C Clerk 2
FY 12 MID -YEAR BUDGET ADJUSTMENTS AND CLEAN- UPS - EXHIBIT A
GENERAL FUND I IMPACT Expenditure Revenues
1
Establish an expenditure budget account to record
Approve
$160,000
County Administrative charges for the property tax and
Additional
sales tax administration and audit charges from the
Appropriation
City's property tax and sales tax auditor
2
Transfer from Public Art (Fund 2801) Fund to
Approve
$54,224
reimburse the General Fund for the maintenance of
Additional
City -owned artwork from 2009 -2012 and for the
Transfers In
administration and implementation of the program. (11
20.11 LMC) -
3
Transfer from Impact Fees (Fund 2571) to reimburse
Approve
$130,383
the General Fund for the cost associated with the
Additional
administration and implementation of impact fees (11-
Transfers -In
19.7 LMC)
4
Transfer from Litter Abatement (Fund 2851) for
Approve
L
$400,000
previous transfers made in FY 07 and FY O8 to support
Additional
the Litter Abatement Fund of $1,604,736 This will be
Transfers -In
partial repayment
Total General Fund 5,16Q 00OggQ
Public Art Fund Expenditure Revenues
5
Transfer from Public Art Fund (Fund 2801) to
Approve
$54,224
r
reimburse the General Fund for the maintenance of
Transfers -Out
City -owned artwork from 2009 -2012 and for the
administration and implementation of the program. (11
20.11 LMC)
Impact Fees
6 Transfer from Impact Fees (Fund 2751) to reimburse Approve $130,383
_
the General Fund for the cost associated with the Transfers -Out
administration and implementation of impact fees (11- -
19.7 LM C)
AB 2928 /Traffic Congestion Expenditure Revenues
7 Eliminate Transfer -Out from AB 2928 (Fund 2151) to Approve to $3,183
avoid deficit. Eliminate
Transfers -Out
CAPITAL IMPROVEMENT PROGRAM (CIP)
8
Reduce Transfers -In amount of $3,183 32. Affected
Approve to
- $3,183
projects will be Project 996 (Abbot Road) and Project
Reduce
871 (Imperial Hwy). Other funds will have to make up
Transfers- In
the difference to avoid a deficit in Fund 2928.
WATER FUND '
9
Increase Transfers -Out in the amount of $375,000 in
Approve to
$375,000
the Water Fund (Fund 6051) to CIPS Fund to reinstate
Increase
-
projects.
Transfers -Out
LITTER ABATEMENT Expenditure Revenues
10 Transfer from Litter Abatement (Fund 2851) for Approve $400,000
previous transfers made in FY 07 and FY O8 to support Transfers Out
the Litter Abatement Fund of $1,604,736. This will be
partial repayment.
STATE COPS PROGRAM Expenditure Revenues
11
Approve revenue budget of $83,391.16 to State COPS
Approve
$f13,036
(Fund 2501).
Revenue
Budget
12 ,4ppreve- - $24,952
Reduetien
SHERIFF SEIZURE Expenditure Revenues
13 Approve revenue budget of $83,391.16 to Sheriff Approve
Seizure Fund (Fund 2601). Revenues received after Revenue
7
budget adoption Budget
Dupont /Lead Safety Grant Fund Expenditure Revenues
14 To record interest. Approve $62
Revenue
Budget
PROP 1B FUND Expenditure Revenues
15 To record interest. Approve $296
Revenue
Budget
RMC GRANT Expenditure Revenues
16 Approve revenue budget of $520,000 to RMC Grant Approve $520,000
(Fund 3821) Revenue
Budges
STP Expenditure Revenues
17 Approve revised revenue budget to reflect actual
Approve
$537,764
revenues received of $537,764.32 in the STP (Fund
Revised
3861)
Revenue
Budget
HUD HOME Expenditure Revenues
18 Approve revised revenue budget to cover anticipated
Approve
$736,227
expenditures in FY 12 and cover beginning fund balance
Revised
deficit in HUD HOME (Fund 2961)
Revenue
Budget
WATER REVENUE BONDS Expenditure Revenues
19
Approve to reduce Transfers -Out of $375,000 to avoid
Approve
- $375,000
deficit in the 2008 Water Revenue Bonds (Fund 6301).
Reduced
Public will use Water Fund to reinstate water or sewer
Transfer -Out
related projects funding. Affected projects will be
Project 927 Mulford Street.