HomeMy WebLinkAboutAgenda Report - July 16, 2003 E-12�.
COMMUNICATIONkATY OF LODI COUNCIL
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AGENDA TITLE. Adopt a resolution authorizing the creation of. a new Capital Budg
account, capital contingency fund, for the City of Lodi (EPD) at
annual funding level of $200,000 beused'to me
capitalunanticipated d • items
DATE:MEETING .: i -
PREPARED BY�. Electric Utility Director
RECOMMENDED AManager to.create a new
fundingcapital budget account, a capital contingen;cy fund, for the City of Lodi
(EUD) at a annual funding level of $200. 000 which will be ut.edto
meet unanticipated capdal
BACKGROUND INFORMATION:.« pa !' capital
occur after budgets are fi nalized. There are both internal a
external EUD requests, In the absence.of a capital ._
these requests in the past have been met by utilizing currentbudget accounts, thereby reducinglunds
for already committed projects or resU . Iting in special allocations 4t the end of the year. The intent of this
fund is to x
undertaken.of treating these request be
Funding Approval,
dicky iii€, Z��rr
WAWYNA101-
C: City Att€ m.ey
Finance Director
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RESOLUTION NO. 2003-126
A RESOLUTION OF THE LODI CITY COUNCIL
AUTHORIZING THE CREATION OF A NEW CAPITAL
BUDGET ACCOUNT, A CAPITAL CONTINGENCY FUND,
FOR THE CITY OF LODI ELECTRIC UTILITY
DEPARTMENT
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the creation of a new Capital Budget Account, a capital contingency fund, for
the City of Lodi Electric Utility Department; and
BE IT FURTHER RESOLVED that the account shall maintain an annual funding
level of $200,000.00. The intent of this fund is to recognize that unanticipated requests
generally are funded but that a systematic way or manner of treating these requests be
undertaken.
Dated: July 16, 2003
I hereby certify that Resolution No. 2003-126 was passed and adopted by the
City Council of the City of Lodi in a regular meeting held July 16, 2003, by the following
vote:
AYES:
COUNCIL MEMBERS — Beckman, Hansen, Howard, and Land
NOES:
COUNCIL MEMBERS — None
ABSENT:
COUNCIL MEMBERS — Mayor Hitchcock
ABSTAIN:
COUNCIL MEMBERS — None
SUSAN J. BLACKSTON
City Clerk
2003-126