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HomeMy WebLinkAboutResolutions - No. 2018-34RESOLUTION NO. 2018.34 A RESOLUTION OF THE LODI CITY COUNCIL AMENDING THE CITY OF LODI FISCAL YEAR 2017-18 BUDGET; AUTHORIZING PENSION STABILIZATION INVESTMENTS FOR FUNDS OTHER THAN THE GENERAL FUND; AND APPROVING ADDITION OF ONE NEW HUMAN RESOURCES TECHNICIAN POSITION ======= ===== ================ = ==================== ======== =============== WHEREAS, the City Council adopted the Fiscal Year 2017-18 Budget (budget) on June 7, 2017 and WHEREAS, the adopted budget was prepared in accordance with the City Council's goals, budget assumptions, and policies; and WHEREAS, the budget Resolution requires a mid-year update which was presented to City Council at its regularly-scheduled meeting on March 7,2018; and WHEREAS, revisions to the budget are necessary to address circumstances unknown at the time of budget adoption; and WHEREAS, the budget called for $2,019,230 in General Fund Public Employees Retirement System (PERS) Rate Stabilization Fund (PRSF) investments but did not call for proportional investments from funds other than the General Fund; and WHEREAS, on December 6, 2017, the City Council adopted a Pension Stabilization Policy that outlined a procedure for PRSF annual consideration of PRSF investments on a proportional basis to the General Fund's contribution; and WHEREAS, the City Council desires to protect core services in the General Fund by maintaining a proportional share of pension funding from funds other than the General Fund. NOW THEREFORE BE lT RESOLVED that the City Council of the City of Lodi approves: 1) All budget amendments to the Fiscal Year 2017-18 Budget as outlined in Exhibit A; and 2) Pension Stabilization Fund investments as follows: Fund Contribution Librarv $19,532 PRCS $63,492 Community Development $35,386 Streets $32,785 EU $225.881 Water $80.677 Wastewater $80.677 Transit $9.988 Fleet $21.498 Total lnvestment $569,916 3)The addition of one new Human Resources Technician position using the existing job description and salary scale. Dated: March 7,2018 lhereby certify that Resolution No.2018-34 was passed and adopted by the City Council of the City of Lodi in a regular meeting held March 7,2018, by the following vote: AYES: COUNCIL MEMBERS - Chandler, Johnson, and Mayor Nakanishi NOES: COUNCIL MEMBERS - Mounce ABSENT: COUNCIL MEMBERS - Kuehne ABSTAIN: COUNCIL MEMBERS - None aYr,ã-r*t'!o NIFE FERRAIOLO City Clerk 2018-34 Exhibit A M¡d-Year Adjustments FY 2017-18 Account Number Account Current Budqet Mid-Year Adiustment Revised BudPet Mid-Year Ammendments 100 - Generãl Fund Revenue Adjustment 10041100,57101 1009s000.50001 Total Rêvenue Ad¡ustments Expense Adiustment 10041100.71002 Transfer to Fund Balance Total Expense AdJustments Overt¡me 200 - Parks, Recreãtion and Cultural Services Revenue Ad¡ustment 20000000.50001 Transfer ln Totãl Revenue Ad¡ustments Expense Adjustment Trãnsfer to Fund Balance Total Expense Adjustments 434 - Arts In Public Places Revenue Adjustment Transfer from Fund Balance Total Revênue Ad¡ustments Expense Adiustment 43499000J6220 Transferout Total Expense Ad¡ustments 403 - Políce vehlcle Replacement Revenue Adjustment 40300000.50001 Transfer ln Totel Rêvenue Adjustments Expense Adjustment 403991000.77040 Vehicles Total Expense Adjustments 404 - Flre veh¡cle Replacement Revenue Adjustment 40400000.50001 Total Revenue Ad¡ustmênts Expense Ad¡ustment Trânsfer to Fund Belence Total Expense Adlustments 500 - Electric utility Revenue Adjustment Transfer from Fund Bâlence Total Rêvenue Adjustments Expense Adjustment 50060001.76220 Trânsfer Out Total Expênse Ad¡ustments Revenue Adjustment Transfer from Fund Balance Total Revenue AdJustments Expense Adjustment 53053001.76220 Transfer Out Total Expense AdJustments 560 - Water Utility Revenue Adjustment Transfer from Fund Balance Total Revenue Ad¡ustments Expense Adjustment 56052001.76220 Transfer Out Total Expense Adjustments s 10s,000 s 210,000 s 31s,000 s 6,314,370 s 1s,6oo 5 6,330,470 5 6,419,e70 s 22s,6OO 5 6,64s,470 s loo,ooo s 2oo,ooo s 3oo,ooo s 3,Ss3,240 s 46,778 s 3,900,018 s 3,8s3,240 s 46,778 s 3,900,018 S 46,778 S 46,778 s -5 46,7785 46,778 s -s loo,ooos loo,ooo s -s loo,ooos 1oo,oo0 s 1oo,0oo s 70,000 s 17o,oo0 s 10o,ooo s 7o,ooo s 17o,ooo S -S To,ooos 7o,ooo s -5 To,ooos 7o,ooo S -S s,2oos s,2oo $ -s s,2oos s,2oo s 2,388,490 s s,2oo s 2,393,690 s 2,38&490 s s,2oo s 2,393,690 s s-200 s 5.200 s s-200 s s.200 s 1,102,490 s s,2oo s 1,10¿690 S 1,102,490 S s,2oo S 1,10¿690 S -S s,2oos s,2oo 5 -S s,2oo5 s,2oo Str¡ke Teem Trânsfer ln 778 774 778 778 s s s s