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HomeMy WebLinkAboutRESOLUTION 2025-160 N.C.S. 11/17/2025 Resolution No. 2025-160 N.C.S. Page 1 Resolution No. 2025-160 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, 2024, a total of $344,673 was committed for various uses; and WHEREAS, as of June 30,2025, $120,609 is committed for turf replacement program, $369,053 is released for General Plan Update and $96,229 for turf replacement program; and WHEREAS, as of June 30,2025, after balances of $120,609 are committed, $465,282 are released, the General Fund Committed Fund Balance as of June 30, 2025 totals $0; 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 $120,609; $120,609 for the Turf Replacement Program, 3. The City Council hereby releases committed General Fund reserves in the amount of $465,282; $369,053 for General Plan and $96,229 for the turf replacement program. Docusign Envelope ID: 045B7D01-1274-4336-ACEF-BEB171775505 Resolution No. 2025-160 N.C.S. Page 2 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 Council of the City of Petaluma at a Regular meeting on the 17th day of November 2025, by the following vote: Approved as to form: __________________________ Eric Danly, City Attorney AYES: McDonnell, Barnacle, Cader Thompson, DeCarli, Nau, Quint, Shribbs NOES: ABSENT: ABSTAIN: ATTEST: ______________________________________________ Caitlin Corley, City Clerk ______________________________________________ Kevin McDonnell, Mayor None None None Docusign Envelope ID: 045B7D01-1274-4336-ACEF-BEB171775505