R-010-22 Amending the Budget for Fiscal Year Commencing July 1, 2021 and Ending June 30, 2022

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-10-22 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, AMENDING THE BUDGET FOR FISCAL YEAR COMMENCING DULY 1, 2021 AND ENDING JUNE 30, 2022 WHEREAS, on May 18, 2021 the City of Colton City Council adopted the budget for the fiscal year commencing July 1, 2021 and ending June 30, 2022; and WHEREAS, the City conducts regular reviews of their budgets as it is fiscally prudent to do so; and WHEREAS, based upon the review conducted through December 31, 2021 and reviewed by the Finance Committee on January 19, 2022, the City desires to amend the budget; NOW, THEREFORE, THE CITY COUNCIL DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. The revised budgetary projections reflected on Exhibit A attached hereto and incorporated herein by reference, are hereby approved. SECTION 2. The General Fund Transfer (the annual administrative transfer from the Electric Utility Fund to the General Fund) shall not exceed 20% of the Electric Utility revenues in accordance with the Flow of Funds Ordinance. The amount of the transfer was reviewed during the mid -year process, and the Council hereby authorizes the General Fund Transfer to remain at $10,500,000, or 17.5%. SECTION 3. The positions identified in the authorized positions list are hereby authorized for funding, and any vacancies are hereby authorized for recruitment and appointment in accordance with the City's Personnel System Rules and Regulations. SECTION 4. Under the direction of the City Manager and Approved by the City Council, the Finance Department may make the reallocation of appropriations within the funds as defined in