Attachment 1
1 of 2
Resolution 20 1 8 - May 3 1 , 2018
DRAFT RESOLUTION 20 18 -
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
APPROVING THE FISCAL YEAR (FY) 201 8 /1 9 OPERATING BUDGET AND FY 201 8 /1 9 –
202 2 /2 3 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
Operatin g B udget for the FY 2018/19 on May 1 5 , 201 8 ; and
WHEREAS , the Town Manager submitted to the Town Council a proposed five -year
C apital I mprovement P rogram for FY 20 18/19 – 202 2 /2 3 on May 1 5 , 201 8 ; and
WHEREAS, the Town Council has considered and reviewed sa id proposed B udget
and C apital I mprovement P rogram during public hearings on May 1 5 , 201 8 and the Town
Council directed no modifications to the Operating and Capital Budgets, respectively; and
WHEREAS, on June 5 , 201 8 , Town Council considered and reviewed the proposed
B udget and C apital I mprovement P rogram making final determinations .
NOW, THEREFORE, BE IT RESOLVED: that the Town Council hereby adopts as the
Operating B udget for the Town of Los Gatos for the 201 8 /1 9 f iscal year as depicted in Exhibit A
entitled “Total Town Revenues By Fund and Total Town Expenditures By Fund ” including the
first year (FY 2018/19 ) of the Town’s Capital Improvement Program budget as contained in the
Town’s FY 2018/19 – 202 2 /2 3 Capital Improvement P r o g r am .
BE IT FURTHER RESOLVED , that the final adopted B udget 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 Encu mbrances whereby within each fund
there is an amount sufficient to cover approved outstanding encumbrances as of June 30, 201 8 .
ATTACHMENT 1
2 of 2
Resolution 20 1 8 - May 3 1 , 2018
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of
Los Gatos, California, held on the 5 th day of June , 20 1 8 by the following vote:
COUNCIL MEMBERS:
AYES:
NAYS:
ABSENT:
ABSTAIN:
SIGNED:
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
DATE: __________________
ATTEST:
CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
DATE: __________________
TOTAL TOWN REVENUES BY FUND AND TOTAL TOWN EXPENDITURES BY FUND
2018/19 Estimated 2018/19
Proposed Budget Recommended
Budget Revision Budget
TOWN REVENUES & OTHER FUNDING SOURCES
General Fund 42,363,657 $ -$ 42,363,657 $
Designated One-Time Use of General Fund Reserves 5,974,133 *5,974,133 *
Special Revenue Funds 624,074 624,074
Internal Service Funds 4,362,795 - 4,362,795
Trust & Agency Funds 78,650 78,650
Capital Project Funds (does not include carryforwards)6,549,106 6,549,106
Successor Agnecy Funds 3,828,296 3,828,296
TOTAL TOWN REVENUES & OTHER FUNDING SOURCES 63,780,711 $ -$ 63,780,711 $
* Designated One-Time Use of the General Fund Reserves during FY 2018/19
Payments to the Town IRS 115 Trust Fund 3,188,913 $
Transfer to Capital Projects (GFAR)2,335,220
Transfer to Equipment Replacement Fund 450,000
Total 5,974,133 $
TOTAL TOWN EXPENDITURES, TRANSFERS OUT & CARRYFORWARD APPROPRIATION
General Fund 47,522,071 $ -$ 47,522,071 $
Special Revenue Funds 672,312 672,312
Internal Service Funds 6,306,524 6,306,524
Trust & Agency Funds 73,500 73,500
Capital Project Funds (does not include carryforwards)9,131,757 9,131,757
Successor Agnecy Funds 3,831,229 3,831,229
TOTAL TOWN EXPENDITURE & OTHER FUNDING USES 67,537,393 $ -$ 67,537,393 $
GENERAL FUND SOURCE(USE) OF FUND BALANCES 815,719 $ 815,719 $
OTHER FUNDS SOURCE(USE) OF FUND BALANCES (4,572,401) **(4,572,401) **
TOTAL SOURCE(USE) OF FUND BALANCES (3,756,682)$ -$ (3,756,682)$
** Other Funds Source(Use) represents planned one-time uses of Internal Service Fund, Special Revenue Fund,
Trust Fund, and Capital project Funds primary for infrastructure and equipment investment.
ATTACHMENT 1
EXHIBIT A