HomeMy WebLinkAboutResolutions - No. 2000-43RESOLUTION NO. 2000-43
A RESOLUTION OF THE LODI CITY COUNCIL APPROVING THE
REVENUE AND EXPENDITURE ASSUMPTIONS AS OUTLINED IN
THE GENERAL FUND CASHFLOW MODEL CREATED BY PUBLIC
FINANCIAL MANAGEMENT, AND FURTHER AUTHORIZING THE
CHANGE OF REVENUE ESTIMATES FOR THE 1999-01 FINANCIAL
PLAN AND BUDGET
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WHEREAS, creation of a long range financial funding model was one of the major
City projects outlined in the 1999-2001 Financial Plan and Budget adopted by the City
Council; and
WHEREAS, to assist in the completion of this goal, the City hired Alex Burnett
from Public Financial Management (PFM) as the City's financial advisor; and
WHEREAS, PFM's scope of duties included the creation of a cashflow model of
the City's General Fund, the assessment of the viability of the public safety building
project on a pay-as-you-go basis, and the assessment of the impact on the General Fund
balance of any structuring alternative for the public safety complex financing; and
WHEREAS, staff is recommending that Council approve the revenue and
expenditure assumptions as outlined in the General Fund Cashflow model created by
PFM, and further recommends that the Council authorize the change of revenue
estimates for the 1999-01 Financial Plan and Budget to reflect the revenue assumptions
in the cashflow model.
BE IT RESOLVED, that the Lodi City Council hereby approves the revenue and
expenditure assumptions as outlined in the General Fund Cashflow model created by
PFM, and further authorizes the change of revenue estimates for the 1999-01 Financial
Plan and Budget to reflect the revenue assumptions in the cashflow model.
Dated: March 30, 2000
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I hereby certify that Resolution No. 2000-43 was passed and adopted by the City
Council of the City of Lodi in a special meeting held March 30, 2000, by the following vote:
AYES: COUNCIL MEMBERS — Land, Nakanishi, Pennino and Mann
(Mayor)
NOES: COUNCIL MEMBERS — Hitchcock
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
LI M. REI CH
LI
lerk
2000-43