HomeMy WebLinkAboutResolution 2015-168 N.C.S. 11/02/215Resolution No. 2015-168 N.C.S.
of the City of Petaluma, California
AUTHORIZING THE COMMITMENT OF VARIOUS
GENERAL FUND RESERVES FOR SPECIFIC USES
WHEREAS, the City Council has provided direction that 15% of General Fund
expenditures be held in a designated reserve for emergency contingencies; and,
WHEREAS, in addition, one time General Fund monies have been accumulated for
specific uses; and,
WHEREAS, those specific uses include $900,000 for employee compensation, $667,800
for a General Plan update, $300,000 for street repairs and maintenance, and $170,000 for
sidewalk repairs and maintenance; and,
WHEREAS, GASB number 54 requires that those revenues be commited by formal
Council action,
NOW, THEREFORE, BE IT RESOLVED that:
1. The City Council hereby designates committed General Fund reserves in the amounts
of $900,000 for employee compensation, $667,800 for a general plan update,
$300,000 for street repairs and maintenance, and $170,000 for sidewalk repairs and
maintenance.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the oved as to
Council of the City of Petaluma at a Regular meeting on the 2"d day of November,f form:
2015, by the following vote:
t ;
`City Attorney
AYES: Albertson, Mayor Glass, Healy, Kearney, King, Vice Mayor Miller
NOES: None
ABSENT: Barrett
ABSTAIN: None
ATTEST:
City Clerk Mayor
Resolution No. 2015-168 N.C.S. Page 1