CC RES 2010-031 RESOLUTION NO. 2010-31
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES, AMENDING RESOLUTION NO. 2009-40, THE BUDGET APPROPRIATON
FOR FY09-10, TO ADJUST THE BUDGET IN THE GENERAL FUND AND THE
EMPLOYEE BENEFITS FUND.
WHEREAS, on June 30, 2009, the City Council of the City of Rancho Palos Verdes
adopted Resolution No. 2009-40, approving the City's budget for FY09-10; and
WHEREAS, The City wishes to retire the employee pension side-fund liability; and
WHEREAS, payment of this debt will require the use of General Fund Reserves;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES DOES HEREBY FIND, DETERMINE, AND RESOLVE AS FOLLOWS:
The following adjustments will be made to the FY09-10 budget:
Increase the General Fund Budget as follows:
Transfers Out #101-6000-491-91-00 To Employee Benefits $1,500,000
Increase the Employee Benefits Fund Budget as follows:
Transfers In #685-1015-391-10-00 From General Fund $1,500,000
Employee Benefits #685-1015-499-23-00 Pension Expense $1,500,000
PASSED, APPROVED, AND ADOPTED THE 4th DAY OF MAY 2010.
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City Clerk
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2010-31 was duly and regularly passed and adopted by the said
City Council at regular meeting thereof held on May 4, 2010.
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City Clerk