07 Attachment 1 - Resolution of the Town Council Approving FY 2020-21 Operating Budget and FY 2020-2021 -2024-25 Capital1 of 3
Resolution 2020- June 2, 2020
DRAFT RESOLUTION 2020-
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
APPROVING THE FISCAL YEAR (FY) 2020/21 OPERATING BUDGET AND FY 2020/21 –
2024/25 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 2020/21 on May 19, 2020; and
WHEREAS, the Town Manager submitted to the Town Council a proposed five-year
Capital Improvement Program for FY 2020/21 – 2024/25 on May 19, 2020; and
WHEREAS, the Town Council has considered and reviewed said proposed Budget
and Capital Improvement Program during public hearings on May 19, 2020; and
WHEREAS, the Town Council has repurposed the Downtown Streetscape
Revitalization Project to the COVID-19 Economic Recovery/Downtown Revitalization Project
during a Special Council Meeting on May 26, 2020; and
WHEREAS, on June 2, 2020, 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 2020/21 fiscal year as depicted in Exhibit A
entitled “Total Town Revenues and Expenditures by Fund” including the first year (FY 2020/21)
of the Town’s Capital Improvement Program budget as contained in the Town’s FY 2020/21 –
2024/25 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, 2020.
ATTACHMENT 1
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Resolution 2020- June 2, 2020
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of
Los Gatos, California, held on the 2nd day of June, 2020 by the following vote:
COUNCIL MEMBERS:
AYES:
NAYS:
ABSENT:
ABSTAIN:
SIGNED:
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
DATE: __________________
ATTEST:
TOWN CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
DATE: __________________
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Resolution 2020- June 2, 2020
TOTAL TOWN REVENUES AND EXPENDITURES BY FUND
EXHIBIT A
2020/21
Proposed
Budget
REVENUES
General Fund 45,751,230$
Special Revenue Funds 624,074
Internal Service Funds 3,967,563
Trust Funds 74,100
Capital Project Funds (does not include carryforwards)12,391,127
Successor Agency Funds 3,829,488
TOTAL REVENUES 66,637,582$
OTHER FUNDING SOURCES
Designated One-Time Use of General Fund Reserves 7,441,129 *
TOTAL TOWN REVENUES & OTHER FUNDING SOURCES 74,078,711$
* Designated One-Time Use of the General Fund Reserves during FY 2020/21
General Fund One-Time Uses 769,308$
For Pension 3,270,342$
Transfer to Capital Projects (GFAR)3,401,479
Total 7,441,129$
TOTAL TOWN EXPENDITURES, TRANSFERS OUT & CARRYFORWARD APPROPRIATION
General Fund 53,180,454$
Special Revenue Funds 596,814
Internal Service Funds 6,067,702
Trust Funds 114,455
Capital Project Funds (does not include carryforwards)13,736,117
Successor Agency Funds 3,828,791
TOTAL TOWN EXPENDITURE & OTHER FUNDING USES 77,524,333$
GENERAL FUND SOURCE(USE) OF FUND BALANCES 11,905$
OTHER FUNDS SOURCE(USE) OF FUND BALANCES (3,457,527) **
TOTAL SOURCE(USE) OF FUND BALANCES (3,445,622)$
** 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.