HomeMy WebLinkAboutResolutions - No. 2013-102RESOLUTION NO. 2013-102
A RESOLUTIONOF THE LODI CITY COUNCIL ADOPTING THE CITY OF
LODI FINANCIAL PLAN AND BUDGET FORTHE FISCAL YEAR BEGINNING
JULY 1,2013 AND ENDING JUNE 30,2014, AND APPROVING THE 2013/14
APPROPRIATIONS SPENDING LIMIT
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WHEREAS, the City Manager submitted the 2013/14 balanced Financial Plan and Budget to the
City Council on May 16, 2013; and
WHEREAS, the 2013/14 Financial Plan and Budget was prepared in accordance with the City
Council's goals, budget assumptions, and policies; and
WHEREAS, the City Council conducted public budget meetings on April 30, May 7, May 14, May
21, and June 5,2013, at the Carnegie Forum; and
WHEREAS, the City Council is required to adopt the Appropriations Spending Limit for 2013/14;
and
WHEREAS, the Appropriations Spending Limit and the annual adjustment factors selected to
calculate the Limit are part of the Financial Plan and Budget; and
WHEREAS, the City has an unfunded liability related to Other Post -Employment Benefits (OPEB)
in the amount of $3,621,593 at June 30, 2012; and
WHEREAS, Council has expressed its desire to begin funding the OPEB liability; and
WHEREAS, staff recommends using one-time money derived from a refund of overpayments to
San Joaquin County for property tax administration fees to fund the General Fund portion of the OPEB
liability; and
WHEREAS, staff recommends that funds outside the General Fund contribute a proportionate
share of costs toward funding the OPEB liability; and
WHEREAS, partial funding of the OPEB liability represents fiscal prudence and is expected to
have a positive impact on actuarial report calculations and rating agency perceptions.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lodi as follows:
1 - That the 2013/14 Financial Plan and Budget, as proposed by the City Manager, be approved
as follows:
Budget
General Fund
Police
$16,789,830
Fire
$9,637,030
Public Works
$1,894,290
City Clerk
$513,060
City Manager
$403,100
City Attorney
$472,200
Internal Services
$3,237480
Economic Development
$481,880
Non -Departmental
$8,769,950
Total General Fund
$42,198,820
Other Funds
Electric Utility
$70,941,010
Water Utility
$11,051,080
Wastewater Utility
$15,525,370
Transit
Streets
$5,651,650
$6,357,929
Development
$1,173,170
-Community
Parks, Rec & Cultural Services
$5,654,090
Library
$1,383,090
Transportation Development Act
$39,000
Community Dev Block Grant
$723,850
Public Safety Special Revenue
$565,600
Capital Outlay
$3,032,700
Equip & Vehicle Replacement
$333,500
Debt Service
$847,680
Benefits
$8,017,450
Self Insurance
$2,310,470
Trust and Agency
$236,520
Fleet Services
$1,738,750
Total Other Funds
$135,582,900
2. That the funds for the 2013/14 Financial Plan and Budget are appropriated as summarized in
the document on file in the City Clerk's Office; and
3. That the Appropriations Spending Limit be increased by $4,658,311 from the 2012/13 level of
$81,450,625 to the 2013/14 level of $86,108,936; and
4. That the City Council of the City of Lodi does hereby approve partial funding of the OPEB
liability in the following amounts:
Fund
Amount
General Fund
$698,000
Electric
$105,000
Water/Wastewater
$135,000
Streets
$16,000
Transit
$8,000
Community Development
$21,000
PRCS
$16,000
Total
$999,000
and;
5. That funds in the amount of $698,000 be appropriated in the General Fund from the
2012/2013 budget for this purpose, and that the remainder be absorbed within the
existing 2012/13 appropriation for the applicable fund.
Dated: June 5, 2013
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hereby certify that Resolution No. 2013-102 as passed and adopted by the City Council of the
City of Lodi in a regular meeting held June 5, 2013, by the following votes:
AYES: COUNCIL MEMBERS -Hansen, Johnson, and Mounce
NOES: COUNCIL MEMBERS - Katzakian and Mayor Nakanishi
ABSENT: COUNCIL MEMBERS- None
ABSTAIN: COUNCIL MEMBERS- None
L
2013-102
1. AA#
2. JV#
FUND # I BUS. UNIT # I ACCOUNT # I - ACCOUNT TITLE AMOUNT
A. 100 1 1001 1 5394 Revenue -Other $698,000.00
SOURCE OF 270 4210 Operating Transfers In $698,000.00
FINANCING
100
USE OF
FINANCING
Please provide a description of the project, the total cost of the project, as well as justification for the
requested adjustment. If you need more space, use an additional sheet and attach to this form.
b recognize refundfrom San Joaquin County related to overpaymentof Property Tax Administration Fees for years 2006/07
iru 2011/12 and appropriate same, transferring funds to the Benefits fund to partially fund the OPEB liability.
If Council has authorized the appropriation adjustment, complete the following:
Meeting Date: 6/5/13 Res No: OM Attach copy of resolution to this form.
epartment Head Signature:
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Deputy City Manager/Internal Services Manager Date
Submit completed form to the Budget Divisionwith any required documentation
Final approval will be provided in electronic copy format