HomeMy WebLinkAboutRESOLUTION 2024-084 N.C.S. 07/15/2024 Docusign Envelope ID:55F7232E-69BE-4E6C-831C-F8E7C472412F
Resolution No. 2024-084 N.C.S.
of the City of Petaluma, California
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PETALUMA AUTHORIZING THE
COMMITMENT AND RELEASE OF 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, as of June 30, 2023, a total of$1,447,559 was committed for various uses; and
WHEREAS, as of June 30,2024, $369,053 is committed for General Plan and$153,975 for turf
replacement program, $470,000 is released for employee compensation and $398,000 for turf replacement
program; and
WHEREAS, as of June 30,2024, after balances of$523,028 are committed, $868,000 are released, and
prior releases for the General Plan of$757,914 approved by the Council on November 20, 2023 are
considered, the General Fund Committed Fund Balance as of June 30, 2024 totals $344,673; and
WHEREAS, Governmental Accounting Standards Board(GASB)number 54 requires that those revenues
be committed and released by formal Council action; and
WHEREAS, environmental analysis for compliance with the California Environmental Quality Act
(CEQA)was already completed with each adjustment, transfer, and encumbrance, and this action is exempt
from CEQA because it is not a project which has a potential for resulting in either a direct physical change in
the environment, or a reasonably foreseeable indirect physical change in the environment, pursuant to CEQA
Guideline section 15378, because this action merely amends the City's annual appropriations ordinance in
accordance with Section 60 of the City Charter.
NOW, THEREFORE,BE IT RESOLVED, that the City Council of the City of Petaluma hereby:
1. Declares that the above recitals are true and correct and are incorporated into this resolution as findings
of the City Council.
2. The City Council hereby designates committed General Fund reserves in the amounts of$523,028;
$369,053 for a General Plan update and $153,975 for the Turf Replacement Program,
3. The City Council hereby releases committed General Fund reserves in the amount of$868,000;
$398,000 for the turf replacement program and$470,000 for employee compensation.
Resolution No. 2024-084 N.C.S. Page 1
Docusign Envelope ID:55F7232E-69BE-4E6C-831C-F8E7C472412F
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 Approved as to
Council of the City of Petaluma at a Regular meeting on the 15"day of July 2024, oocusigne�m.
by the following vote:
v
City Attorney
AYES: McDonnell,Barnacle,Cader Thompson,Healy,Nau,Pocekay,Shribbs
NOES: None
ABSENT: None
ABSTAIN: None
DocuSigned by: DocuSigned by:
_::_, hL 06 n,ln,t,�,
ATTEST:
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City Clerk Mayor
Resolution No. 2024-084 N.C.S. Page 2