1988-136-Adopting Budget For Fiscal Year 1988-89RESOLUTION NO. 1988-
A RESOLUTION ADOPTING BUDGET FOR FISCAL YEAR 1988-89
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 1988 -89
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 1988 -89 fiscal year those schedules entitled "Summary of Appropriations ",
"Schedule of Fund Transfers ", and "General Fund Appropriated Reserve ", attached
hereto.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of
Los Gatos, California, held on the 20 day of June 1988 by the
following vote:
AYES: COUNCIL MEMBERS Thomas J. Ferrit0 Robert L. Hamilton, Brent
N. Ventura and Mayor Eric D. Carlson
NOES: COUNCIL MEMBERS
ABSTAIN: COUNCIL MEMBERS None
ABSENT: COUNCIL MEMBERS Joanne Benjamin
SIGNED:
MAYOR OF THE TOWN OF LOS GATOS
ATTEST:
CLERK 0 F THE TOWN OW—S GATO
tl
TOWN OF LOS GATOS
SU MARY OF APPROPRIATIONS
1988 -89
1988 -89
Adopted
Town Council
$42,426
Town Treasurer
30,777
Town Clerk
166,868
Town Attorney
218,283
Town Manager
485,590
General Town
887,643
Administration
791,441
Insurance
Elections
5,000
Planning
536,967
Building
262,263
Engineering
649,884
Police
3,981,343
Library
887,643
Parks, Forestry,
Public Works
Maintenance
2,817,917
Community Services 596,324
TOTAL GENERAL FUND $11,472,726
General Fund Reserve
Leave /Vacation Pay Offs 100,000
Capital Expenditures 5,521,149
TOTAL GENERAL RESERVES $5,621,149
Internal Service Fund
Worker's Compensation $160,000
Equipment Replacement 360,297
Self - Insurance 341,448
TOTAL INTERNAL SERVICE FUNDS $ 1$6 ,7f45
Debt Service
1988 -89
Special Funds
Adopted
Parking Assessment
67,102
District Program
$4,696,400
Mediation Arbitration
38,261
Traffic Safety
130,000
Transit Development
151,337
Gas Tax 2106
551,000
Gas Tax 2107
457,383
Gas Tax 2107.5
6,000
Gas Tax 2126/27
299,617
CDBG
173,680
Construction Tax- Capital
232,000
Construction Tax -Parks
29,600
Construction Tax- Utility
80,000
Storm Drain Basin #2
58,000
Sanitary Sewer
268,135
FEMA Capital Funding
159,262
TOTAL SPECIAL FUNDS
$7,33
Internal Service Fund
Worker's Compensation $160,000
Equipment Replacement 360,297
Self - Insurance 341,448
TOTAL INTERNAL SERVICE FUNDS $ 1$6 ,7f45
Debt Service
19 2 Municipal
Improvements
67,102
1965 Park Bonds
43,500
TOTAL DEBT SERVICE
$110, 02
GENERAL FUND PARKING
ASSESSMENT DISTRICT
CONTRIBUTION 149,760
GENERAL FUND END OF
YEAR TRANSFER TO GENERAL
FUND APPROPRIATED RESERVE 800,000
SUB -TOTAL $26,
LESS INTERFUND
TRANSFERS AND
APPROPRIATIONS <$4,330,466>
NET EXPENDITURES $22,016,191
General Fund Appropriated Reserve
Parking Assessment District
Program 2,672,549
TOTAL TRANSFERS $4,330,466
1988 -89 ADOPTED
SUMMARY OF TRANSFERS
From
To
Amount
Traffic Safety
General Fund
130,000
Gas Tax 2106
General Fund
50,000
Gas Tax 2107
General Fund
50,000
Gas Tax 2107.5
General Fund
6,000
Sanitary Sewer Fund
General Fund
49,000
Mediation Arbitration
General Fund
38,261
Transit Development
General Fund
151,337
CDBG
General Fund
47,000
Equipment Reserve
General Fund
66,862
SUBTOTAL GENERAL FUND
TRANSFERS IN
$588,460
General Fund
General Fund
Appropriated Reserve
$800,000
General Fund
Debt Service
67,102
General Fund
Parking Assessment District
Program
149,760
General Fund
Unrestricted Reserve
52,595
SUBTOTAL GENERAL FUND
TRANSFERS OUT
$1,069,457
General Fund Appropriated Reserve
Parking Assessment District
Program 2,672,549
TOTAL TRANSFERS $4,330,466
1988 -89 ADOPTED
GENERAL FUND APPROPRIATED RESERVE
ESTIMATED FUND BALANCE 7/1/88 $7,686,149
87 -88 General Fund Excess $800,000
88 -89 General Fund Excess 52,595
TOTAL $852,595
ESTIMATED FUNDS AVAILABLE $8,538,744
EXPENDITURES
Employee Leave Payments $100,000
Recommended Capital Project Expenditures 5,521,149
TOTAL EXPENDITURES
$5,621,149
ENDING FUND BALANCE
Restricted Reserves
Economic Uncertainty
$2,500,000
Employee Leave Payments
290,000
Building Maintenance
75,000
SUBTOTAL RESTRICTED RESERVES
$2,865,000
Unrestricted Reserve
52,595
TOTAL ENDING FUND BALANCE 6/30/89
$2,917,595