HomeMy WebLinkAboutRES 2024-18RESOLUTION NO. 2024-18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND
BAR, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA,
APPROVING AND ADOPTING THE CITY OPERATING BUDGET AND
CAPITAL IMPROVEMENT PROGRAM FOR THE CITY OF DIAMOND
BAR FOR THE FISCAL YEAR COMMENCING JULY 17 2024 AND
ENDING JUNE 309 2025 AND APPROPRIATING FUNDS NECESSARY
TO MEET THE EXPENDITURES SET FORTH THEREIN.
WHEREAS, the City Manager has submitted for the consideration of the City
Council a proposed City Operating Budget and City Capital Improvement Program for FY
2024/25; and
WHEREAS, the proposed Operating Budget and City Capital Improvement
Program for FY 2024/25 was reviewed and considered in two City Council public budget
study sessions and in a public regular City Council meeting; and
WHEREAS, the Planning Commission of the City of Diamond Bar has publicly
reviewed the proposed Capital Improvement Program for FY 2024/25 and found it to be
in conformity with the City's General Plan as required by California Government Code
Section 65401; and
WHEREAS, Section 4.1 of City Council Policy 2019-01, Fund Balance and
Reserve Policy, establishes a Contingency Reserve Fund to adequately provide for
economic uncertainties, local emergencies or disasters, and other financial hardships or
downturns in the local or national economy. Based on this Policy, the City Council has
committed to maintain a Contingency Reserve Fund Balance of no less than 25% of the
General Fund expenditures, including operating transfers which equates to $8,217,405,
and
WHEREAS, copies of the City Operating Budget and Capital Improvement
Program for FY 2024/25 are on file in the office of the City Clerk labeled "City of Diamond
Bar FY 2024125 Budget" and said Budget is made a part of this Resolution and
incorporated herein by reference.
NOW, THEREFORE, the City Council of the City of Diamond Bar does hereby
resolve as follows:
Section 1. The City Council has reviewed the proposed Operating Budget and
Capital Improvement Program and the funds included therein for the fiscal year (FY)
commencing July 17 2024 through June 307 2025 and hereby finds that such budgets, as
revised, are sound plans for the financing during FY 2024/25 of required City operations,
services and capital improvements. Such budgets are hereby adopted and appropriated
as follows:
Resolution No. 2024-18
Section 2. The City Manager is hereby authorized to transfer funds
appropriated hereby or by supplemental appropriation as follows: with respect to
departments, the City Manager may transfer amounts between and within departments,
but only within a fund.
Section 3. Encumbrances for all funds at the end of FY 2023/24 may be re -
appropriated for continued use in FY 2024/25 as deemed necessary by the City Manager.
Section 4. Capital Improvement Project budgets and their associated funding
sources which remain unspent at the end of FY 2023/24 may be reappropriated for
continued use in FY 2024/25 as deemed necessary by the City Manager.
Section 5. The City Clerk shall attest and certify to the passage and adoption of
this Resolution and enter it into the book of original resolutions, and it shall become
effective immediately upon its approval.
PASSED, APPROVED AND ADOPTED this 4tn day of June, 2024.
CITY OF DIAM�DdD BAR
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ATTEST:
I, Kristina Santana, City Clerk of the City of Diamond Bar, do hereby certify that
the foregoing Resolution was passed, approved and adopted at a regular meeting of the
City Council of the City of Diamond Bar held on the 4t" day of June, 2024, by the following
vote:
AYES: COUNCIL MEMBERS: Chou, Low, Tye, MPT/Teng, M/Liu
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAINED: COUNCIL MEMBERS: None
Kris ina Santana, City Clerk
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