Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-11-10 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF COLTON, CALIFORNIA AMENDING THE BUDGET <br />FOR FISCAL YEAR COMMENCING JULY 1, 2009 AND <br />ENDING JUNE 30, 2010. <br />WHEREAS, the City of Colton adopted a budget for the fiscal year commencing July <br />1, 2009 and ending June 30, 2010; and <br />WHEREAS, the City of Colton conducts regular reviews of its budget as it is fiscally <br />prudent to do so; and <br />WHEREAS, based upon the latest review the City desires to amend the budget; and <br />WHEREAS, in fiscal years ended 2006 and 2007 administrative expense obligations <br />owed by the City's Electric Fund to the General Fund were not fully paid, and were <br />subsequently booked as an obligation of the Electric Fund owing to the General Fund; and <br />WHEREAS, within fiscal year 2009-10, the Electric Fund payable owing to the <br />General Fund will be paid through a journal entry approved by the Management Services <br />Director, once sufficient funds were deemed available by the City Manager; <br />NOW, THEREFORE, THE CITY COUNCIL OF THE COLTON DOES HEREBY <br />RESOLVE, DETERMINE AND ORDER as follows: <br />SECTION 1. The revised budgetary projections reflected on Attachments A, B and <br />C, attached hereto and incorporated herein by reference, are hereby approved. <br />SECTION 2. The recommended adjustments to the budget as summarized on <br />Attachments D and E, attached hereto and incorporated herein by reference, are hereby <br />approved. <br />SECTION 3. The recognition of and progress payments related to the payable <br />obligation owing from the Electric Fund to the General Fund arising in fiscal years ended <br />2006 and 2007 are hereby ratified, and the balance is approved for payment through journal <br />entries approved by the Management Services Director, as funds are deemed available by the <br />City Manager. <br />SECTION 4. Under the direction of the City Manager, the Management Services <br />Director may make the reallocation of appropriations within any fund. Amendments that <br />increase or decrease the Budget shall be by approved by Resolution of the City Council. <br />1 <br />