CC - Item 5A - Adoption of the 2016-17 FY Budget A EM e
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° ROSEMEAD CITY COUNCIL
" ` STAFF REPORT
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TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: BILL R. MANIS, CITY MANAGER 1.7,0...1
DATE: JUNE 14, 2016
SUBJECT: ADOPTION OF THE 2016-17 FISCAL YEAR BUDGET
SUMMARY
The City Council will consider the adoption of the City's Budget for the 2016-17 Fiscal
Year, which provides for total appropriations of $33,934,800. The ongoing General
Fund Operating Budget of $20,920,300 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 10, 2016. The General Fund
operating budget has a surplus of $553,900; however, this 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 May10`" workshop.
Staff Recommendation:
Staff recommends that the City Council take the following actions:
1. Adopt Resolution 2016-27 approving the City of Rosemead's Operating and
Capital Improvement Budget for the 2016-17 Fiscal Year.
2. Adopt Resolution 2016-07 approving the Housing Development Corporation's
Operating and Capital Improvement Budget for the 2016-17 Fiscal Year.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
Carolyn A. Chu
Finance Director
Attachments: A—City Resolution 2016-27
B —RHDC Resolution 2016-07
ITEM NO. 5.A
RESOLUTION NO. 2016-27
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD ADOPTING
THE ANNUAL OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR THE
2016-17 FISCAL YEAR
WHEREAS, a proposed annual budget for the City of Rosemead, California for the
Fiscal Year commencing July 1, 2016 and ending June 30, 2017 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 2016-17 Annual Operating and Capital Improvement Program Budget is hereby
adopted in the amount of$33,934,800.
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 2016-17 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 14`h day of June, 2016.
Sandra Armenta, Mayor
ATTEST:
Ericka Hernandez
Acting City Clerk
APPROVED AS TO FORM:
Rachel Richman
City Attorney
RESOLUTION NO. 2016-07
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION
ADOPTING THE ANNUAL OPERATING AND CAPITAL IMPROVEMENT BUDGET
FOR THE 2016-17 FISCAL YEAR
WHEREAS, a proposed annual budget for the Rosemead Housing Development
Corporation for the Fiscal Year commencing July 1, 2016 and ending June 30, 2017 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 2016-17 Annual Operating and Capital Improvement Program Budget is hereby
adopted in the amount of$843,600.
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 2016-17 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 14th day of June, 2016.
Sandra Armenta, President
ATTEST:
Ericka Hernandez
Acting Corporate Secretary
APPROVED AS TO FORM:
Rachel Richman
City Attorney