1987-073-Adopting Budget For Fiscal Year 1987-88RESOLUTION NO. 1987 -73
A RESOLUTION ADOPTING BUDGET FOR FISCAL YEAR 1987 -88
WHEREAS, Section 2 -20 (f) 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 1987 -88
Fiscal Year to the Town Council; and
WHEREAS, The Town Council has considered and reviewed said proposed
budget during public hearings;
NOW, THEREFORE, BE IT RESOLVED AND IT IS HEREBY RESOLVED by the Town
Council of the Town of Los Gatos, County of Santa Clara, State of California,
that the Town Council hereby adopts as the budget for the Town of Los
Gatos for the 1987 -88 Fiscal Year those schedules entitled "Summary of
Appropriations ", "Schedule of Fund Transfers ", and "General Fund Appropriated
Reserve ", attached hereto.
PASSED AND ADOPTED at a continued regular meeting of the Town Council of the
Town of Los Gatos, California, held on the 29th day of June 1987, by
the following vote:
AYES: COUNCIL MEMBERS Joanne Benjamin, Robert L. Hamilton,
and Mayor Brent N. Ventura
NOES: COUNCIL MEMBERS Thomas J. Ferrito
ABSTAIN: COUNCIL MEMBERS
ABSENT: COUNCIL MEMBERS Eric D. Carlson
SIGNED
MAYOR OF THE TOWN OF LOS GATOS
ATTEST:
CLERK OF THE TOWN OF LO GATOS
TOWN OF LOS GATOS
SUMFIARY OF APPROPRIATIONS
1987 -88
GENERAL FUND
Town Council
$ 37,035
Town Treasurer
33,218
Town Clerk
144,276
Town Attorney
200,716
Town Manager
444,149
General Town Administration
1,058,377
Elections
3,600
Planning
486,684
Building
231,459
Engineering
544,794
Police
3,690,415
Library
770,725
Parks, Forestry d Maintenance Services
2,696,718
Community Services
570,873
Downtown Parking
235,929
Earthquake Preparedness
15,000
TOTAL GENERAL FUND
11,163,968
GENERAL FUND RESERVES
eave ayo s
100,000
Capital Inprovement Projects
1,782,600
TOTAL GENERAL FUND RESERVES
1,882,600
SPECIAL FUNDS
Revenue Sharing
2,003
Gas Tax 2106
433,000
Gas Tax 2107
283,938
Gas Tax 2107.5
6,000
Gas Tax 212612127
262,062
CDBG
150,200
Construction Tax - Capital
172,000
Construction Tax - Utility
550,000
Construction Tax - Parks
15,500
Storm Basin #2
34,800
Sanitary Sewer
201,064
Self Insurance
314,629
Parking Assessment District
760,000
TOTAL SPECIAL FUNDS
3,185,196
INTERNAL SERVICE FUNDS
Equipment Re- p- lacement
364,797
Workers Compensation
165,000
TOTAL INTERNAL SERVICE FUNDS
529,797
DEBT SERVICE
1962 General Obligation Bonds
64,165
1965 Park Bonds
44,900
TOTAL DEBT SERVICE
109,065
TOTAL APPROPRIATIONS
$16,870,626
From
General Fund
Traffic Safety
Gas Tax 2106
Gas Tax 2107
Gas Tax 2107,5
Sanitary Sewer Fund
Mediation Arbitration
Transit Development
Revenue Sharing
CDBG
Equipment Replacement
Transit Development - Bike Paths
General Fund
Reserve - Retirement
General Fund
Parking Assessment District
TOWN OF LOS GATOS
1987 -87 BUDGET
Summary of Transfers
To
Debt Service
General Fund
General
General
General
General
General
General
General
General
General
Reserve
Amount
$ 64,165
122,500
Fund 50,000
Fund 50,000
Fund
Fund
Fund
Fund
Fund
Fund
Fund
- Capital Improvements
6,000
45,283
45,365
140,234
2,003
42,394
50,862
63,000
Downtown Parking Program 235,929
General Fund 100,000
Reserve - Capital Improvements 6,263
Downtown Parking Program 760,000
$1,783,998
1987 -88
GENERAL FUND APPROPRIATED RESERVE
ESTIMATED FUND BALANCE 7/1/87
$7,914,868
86 -87 General Fund Excess
$350,000
87 -88 General Fund Excess
6,263
TOA Grant - Bike Paths
63,000
419,263
ESTIMATED FUNDS AVAILABLE
8,334,131
RESERVES
Economic Uncertainty
21500,000
Employee Leave Payments
365,000
Building Maintenance
25,000
2,890,000
BALANCE AVAILABLE
5,444,131
Transfer to General Fund
100,000
Recommended Capital Project Expenditures
1,782,600
Capital Projects Fund Balance
6/30/88
3,561,531
88 -89 Estimated Capital Projects 3,676,600
89 -90 Estimated Capital Projects 2,233,000
3 -year General Fund Capital Improvement
Program.. Shortfall [1,761,2571