Ord80 1819 - Laserfiche WebLink

Browse Search

established interim appropriation items and programs based upon the budget programs and appropriation items of the 1979-80 fiscal year budget adopted June 25, 1_979 pursuant to Ordinance No. 1789. The period for which said interim appropriation items and programs is effective is July 1, 1980 - July 21, 1980, or until such other date as the fiscal year 1980-81 budget shall have been duly adopted. SECTION 2. Establishment of "Special State Deflator Reserve" Program. In addition to the programs and appropriation items established by the aforementioned Ordinance No. 1789, there is hereby established in the General Fund a "Special State Deflator Reserve" program to be used to offset any shortfalls in estimated State revenues to the City of Redwood City, or for other purposes deemed necessary by this Council. There is hereby appropriated from the unexpended and unencumbered General Fund balances to the "Special State Deflator Reserve" program the sum of $1,428,900. SECTION 3. General Fund Appropriations. All unexpended and unencumbered General Fund balances as of June 30, 1980, other than the amount appropriated pursuant to Section 2 herein are hereby appropriated to the General Fund for the program "Resources Held in Reserve." Such funds are estimated to be $1,631,757.00, and are authorized to be expended for all General Fund programs during said interim period July 1 - July 21, 1980. SECTION 4. Transfers Within General Fund Programs. The Director of Finance is hereby authorized to transfer_ monies appropriated to the program "Resources Held in Reserve" pursuant to Section 3 herein from said program to any other program or budget item established by the aforementioned Ordinance No. 1789 and adopted pursuant to Section 1 herein, for expenditure from such other program or budget item, without further Council approval -2-