2019-029 - Approve the FY 209-20 Operating Budget and the FY 2019-20 - 2023-24 CIP BudgetRESOLUTION 2019 -029
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
APPROVING THE FISCAL YEAR (FY) 2019/20 OPERATING BUDGET AND FY 2019/20 -
2023/24 CAPITAL BUDGET, NEW APPROPRIATIONS, OTHER APPROVED
ADJUSTMENTS, MINOR CORRECTIONS, AND CARRY- FORWARD APPROPRIATIONS
WHEREAS, Section 2.30.295(b) of the Los Gatos Town Code requires the Town
Manager to annually prepare and submit a budget to the Town Council and be responsible for
its administration; and
WHEREAS, the Town Manager submitted to the Town Council a proposed
Operating Budget for FY 2019/20 on May 21, 2019; and
WHEREAS, the Town Manager submitted to the Town Council a proposed five -year
Capital Improvement Program for FY 2019/20 - 2023/24 on May 21, 2019; and
WHEREAS, the Town Council has considered and reviewed said proposed Budget
and Capital Improvement Program during public hearings on May 21, 2019 and the Town
Council directed modifications to the Operating and Capital Budgets to allocate one time
monies to community grants, sidewalk cleanings, pension /Other Post - Employment Benefit
obligations, and downtown revitalization; and
WHEREAS, on June 4, 2019, Town Council considered and reviewed the proposed
Budget and Capital Improvement Program making final determinations.
NOW, THEREFORE, BE IT RESOLVED: that the Town Council hereby adopts as the
Operating Budget for the Town of Los Gatos for the 2019/20 fiscal year as depicted in Exhibit A
entitled "Total Town Revenues by Fund and Total Town Expenditures By Fund" including the
first year (FY 2019/20) of the Town's Capital Improvement Program budget as contained in the
Town's FY 2019/20 - 2023/24 Capital Improvement Program.
BE IT FURTHER RESOLVED, that the final adopted Budget documents include minor
corrections and approved appropriations for unspent prior year allocations, and that they be
carried forward from prior years in a Reserve for Encumbrances whereby within each fund
there is an amount sufficient to cover approved outstanding encumbrances as of June 30, 2019.
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Resolution 2019 -029 June 4, 2019
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of
Los Gatos, California, held on the 4 1 day of June 2019 by the following vote:
COUNCIL MEMBERS:
AYES: Marcia Jensen, Rob Rennie, Marico Sayoc, Barbara Spector, Mayor Steven Leonardis
NAYS: None
ABSENT: None
ABSTAIN: None
ATTEST:
DATE:
:Z�Vd" 'vs�
CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
DATE: col ( @1 wig
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Resolution 2019 -029 June 4, 2019
TOTAL TOWN REVENUES BY FUND AND TOTAL TOWN EXPENDITURES BY FUND
2019/20 Estimated 2019/20
Proposed Budget Recommended
Budget Revision Budget
General Fund $45,282,132 $ - $ 45,282,132
Special Revenue Funds 634,074 634,074
Internal Service Funds 4,793,285 4,793,285
Trust Funds 79,150 79,150
Capital Project Funds (does not include carryforwards) 12,490,679 972,384 13,463,063
Successor Agency Funds 3,823,202 - 3,823,202
TOTAL REVENUES $67,102,522 $ 972,384 $ 68,074,906
FUNDING SOURCES
Designated One -Time Use of General Fund Reserves 6,770,756 $ 1,005,069 7,775,825
TOTAL TOWN REVENUES & OTHER FUNDING SOURCES $73,873,278 $ 1,977,453 $ 75,850,731
* Designated One -Time Use of the General Fund Reserves during FY 2019120
Additional Grants& Sidewalk Cleaning $ 32,685
Transfer to Capital Projects (GFAR) $ 6,681,884
Transfer to Workers Comp 1,061,256
Total $ 7,775,825
TOTALTOWN EXPENDITURES, TRANSFERS OUT & CARRYFORWARD APPROPRIATION
General Fund
$51,909,446
$ 1,005,069 $ 52,914,515
Special Revenue Funds
669,410
669,410
Internal Service Funds
7,440,914
7,440,914
Trust Funds
133,255
133,255
Capital Project Funds (does not include carryforwards)
12,726,009
972,384 13,698,393
Successor Agency Funds
3,823,202
3,823,202
TOTAL TOWN EXPENDITURE & OTHER FUNDING USES
$76,702,236
$ 1,977,453 $ 78,679,689
GENERAL FUND SOURCE(USE) OF FUND BALANCES $ 143,442
143,442
OTHER FUNDS SOURCE(USE) OF FUND BALANCES (2,972,400) (2,972,400) **
TOTAL SOURCE(USE) OF FUND BALANCES $ (2,828,958) $ - $ (2,828,958)
** Other Funds Source(Use) represents planned one -time uses of Internal Service Funds, Special Revenue Funds,
Trust Funds, and Capital Project Funds primary for infrastructure and equipment investment.
EXHIBIT A
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Resolution 2019 -029 June 4, 2019