CC RES 2014-076 RESOLUTION NO. 2014-76
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES, AMENDING RESOLUTION 2014-41, THE BUDGET APPROPRIATION
FOR FY14-15, TO ADJUST THE BUDGET IN THE GENERAL FUND AND CAPITAL
IMPROVEMENT PROJECTS FUND.
WHEREAS, Section 3.32 of the Rancho Palos Verdes Municipal Code provides that all
expenditures in excess of budgeted allocations must be by supplemental appropriation of the
City Council: and
WHEREAS, on June 17, 2014, the City Council of the City of Rancho Palos Verdes adopted
Resolution 2014-41, approving a spending plan and appropriating a budget for FY14-15: and
WHEREAS, on August 19, 2014, the City Council suspended the collection of Utility User Tax
(UUT) from telecommunication providers; and
WHEREAS, the FY14-15 General Fund budget includes an estimate of$770,600 for UUT
revenue from telecommunication providers; and
WHEREAS, the City Council desires that the FY14-15 budget be adjusted to offset the loss of
UUT revenue, and to rebalance the FY14-15 General Fund structural budget.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES:
The following adjustments are made to the FY14-15 budget:
General Fund
Telecommunications Utility User Tax 101-6000-315-XX-XX ($770,600)
Transfers to CIP Fund 101-6000-491-91-00 ($770,600)
Capital Improvement Projects (CIP) Fund
Transfers from General Fund 330-3031-391-10-00 ($770,600)
Residential Street Improvements 330-3031-461-73-00 ($770,600)
PASSED, APPROVED, AND ADOPTED THE 18th DAY OF NOVEMBER 2014.
ill 1
Mayor
ATTEST:
4t / //
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. 2014-76 was duly and regularly passed and adopted • he said City Council at
regular meeting thereof held on November 18, 2014.
4164_,
City Clerk