2007-071 - Approving Fy 2007 /08 Operating Budget & Fy's 2007/08 - 2011/12 Capital Budget And Carry - Forward Appropriations And Other Approved Adjustments Classification Adjustments, Minor Corrections, And Refined EstimatesRESOLUTION 2007 -071
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
APPROVING FY 2007 /08 OPERATING BUDGET & FY's 2007/08 - 2011/12 CAPITAL BUDGET
AND CARRY - FORWARD APPROPRIATIONS AND OTHER APPROVED ADJUSTMENTS
RELATING TO MEET AND CONFER PROCESS, MANAGEMENT COMPENSATION PLAN,
CLASSIFICATION ADJUSTMENTS, MINOR CORRECTIONS, AND REFINED ESTIMATES
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 did submit a proposed budget for the 2007 /08 to the Town
Council; and
WHEREAS, the Town Manager did submit a proposed five -year capital improvement plan
for FY's 2007/08 — 2011/1.2; and
WHEREAS, the Town Council has considered and reviewed said proposed budget and
capital improvement plan during public hearings.
RESOLVED, that the Town Council hereby adopts as the budget for the Town of Los
Gatos for the 2007/08 fiscal year the schedule entitled "Total Town Revenues By Fund and Total Town
Expenditures By Fund" including the first year (FY 2007/08) of the Town's Capital Improvement
Program budget as contained in the Town's FY's 2007/08 — 2011/12 Capital Improvement Plan.
BE IT FURTHER RESOLVED, that the final adopted budget includes approved carry-
forward appropriations for unspent operating grants and pass - throughs from FY 2006/07, and that there
be carried forward from prior year's Reserve for Encumbrances within each fund an amount sufficient to
cover approved outstanding encumbrances as of June 30, 2007;
BE IT FURTHER RESOLVED, that the Town Council hereby directs staff that any
changes or impacts resulting from: Council approval of the meet and confer process or management
compensation plan; from classification adjustments or miscellaneous corrections; from changes due to
more refined estimates or grant approvals; or from further Town Council consensus direction received on
June 4, 2006, be incorporated within the final FY 2007/08 Operating and Capital Budget.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los
Gatos, California, held on the 4th day of June, 2007 by the following vote:
COUNCIL MEMBERS:
AYES: Steve Glickman, Diane McNutt, Barbara Spector, Mike Wass_ erman, and Mayor Joe
Pirzynski
NAYS: None
ABSENT:
ABSTAIN:
SIGNED: r
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
C EtFT
TOWN OF LOS GATOS
L S LIFORNIA