CC - Item 6C - Adoption of the 2015-16 Fiscal Year BudgetROSEMEAD CITY COUNCIL
STAFF REPORT
TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: JEFF ALLRED, CITY MANAGER
DATE: JUNE 09, 2015 I
SUBJECT: ADOPTION OF THE 201 -16 FISCAL YEAR BUDGET
SUMMARY
The City Council will consider the adoption of the City's Budget for the 2015 -16 Fiscal
Year, which provides for total appropriations of $31,014,300. The ongoing General
Fund Operating Budget of $20,107,200 is balanced with a small surplus for the
upcoming fiscal year. Consequently, a full scope of services to residents will be
continued without service reductions.
A budget workshop with the City Council was held on May 12, 2015. Since the budget
workshop was conducted, several adjustments to General Fund expenditures have
been made to reflect better estimates of the FY 2015 -16 costs. The General Fund
expenditures were increased by $500,000 for the improvements and renovation of the
Corporate City Yard maintenance facility. In addition the General Fund expenditures
were increased by $48,500 for the elevation of one part time position in the City Clerk's
office to full time status; as well as an additional $16,200 for Public Works staff salaries
that were incorrectly estimated. Also, the Cafeteria Benefit is increased to $1,700 per
month for full time employees which has resulted in a General Fund increase of
$32,300. After adjustments, the General Fund operating budget has a surplus of
$345,800; however, the operating surplus will be transferred into the Capital
Improvement Program (CIP) along with limited resources from the unallocated fund
balance of the General Fund to pay for needed infrastructure projects. No additional
major financial changes have been made to the draft budget as presented at the
May12 workshop.
Staff Recommendation:
Staff recommends that the City Council take the following actions:
1. Adopt Resolution 2015 -30 approving the City of Rosemead's Operating and
Capital Improvement Budget for the 2015 -16 Fiscal Year.
2. Adopt Resolution 2015 -06 approving the Housing Development Corporation's
Operating and Capital Improvement Budget for the 2015 -16 Fiscal Year.
ITEM NUMBER: 10 �
City Council Meeting
June 9, 2015
Page 2 of 2
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
Carolyn A. Chu
Acting Finance Director
Attachments: A— City Resolution 2015 -30
B — RHDC Resolution 2015 -06
RESOLUTION NO. 2015 -30
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD ADOPTING
THE ANNUAL OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR THE
2015 -16 FISCAL YEAR
WHEREAS, a proposed annual budget for the City of Rosemead, California for the
Fiscal Year commencing July 1, 2015 and ending June 30, 2016 was submitted to the City
Council for it's review and consideration and the proposed annual budget is on file in the City
Clerk's office; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMEAD,
CALIFORNIA DOES RESOLVE AS FOLLOWS:
1. The 2015 -16 Annual Operating and Capital Improvement Program Budget is hereby
adopted in the amount of $31,014,300.
2. There is hereby appropriated to each account group set forth in the "Detail Budget"
of said budget attached hereto, and made a part hereof as though fully set forth
herein, the sum shown for such account groups in the 2015 -16 Adopted Column.
3. The Mayor shall sign and the City Clerk shall certify to the passage and adoption of
this Resolution and thereupon the same shall take effect and be in force.
PASSED, APPROVED and ADOPTED the 9th day of June, 2015.
Margaret Clark, Mayor
ATTEST:
Gloria Molleda
City Clerk
Rachel Richman
City Attorney
RESOLUTION NO. 2015 -06
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION
ADOPTING THE ANNUAL OPERATING AND CAPITAL IMPROVEMENT BUDGET
FOR THE 2015 -16 FISCAL YEAR
WHEREAS, a proposed annual budget for the Rosemead Housing Development
Corporation for the Fiscal Year commencing July 1, 2015 and ending June 30, 2016 was
submitted to the Housing Development Corporation Board of Directors for its review and
consideration and the proposed annual budget is on file in the Corporation Secretary's office;
and
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE ROSEMEAD
HOUSING DEVELOPMENT CORPORATION DOES RESOLVE AS FOLLOWS:
4. The 2015 -16 Annual Operating and Capital Improvement Program Budget is hereby
adopted in the amount of $825,500.
5. There is hereby appropriated to each account group set forth in the "Detail Budget"
of said budget attached hereto, and made a part hereof as though fully set forth
herein, the sum shown for such account groups in the 2015 -16 Requested Column.
6. The President shall sign and the Corporation Secretary shall certify to the passage
and adoption of this Resolution and thereupon the same shall take effect and be in
force.
PASSED, APPROVED and ADOPTED the g' day of June, 2015.
ATTEST:
Margaret Clark, President
Gloria Molleda
Corporate Secretary
APPROVED AS TO FORM:
Rachel Richman
City Attorney