Resolution No. 6935 418
RESOLUTION NO. 6935
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
APPROVING THE ANNUAL BUDGET FOR THE FISCAL YEAR
COMMENCING JULY 1, 2023 AND FIXING THE LIMITATIONS OF EXPENDITURES
FOR THE SEVERAL FUNDS AND THE FUNCTIONS, DEPARTMENTS, AND
ACTIVITIES CARRIED ON UNDER SUCH FUNDS
WHEREAS, the City Manager has heretofore prepared and submitted to this
Council a proposed Budget for expenditures for the fiscal year commencing July 1, 2023,
pursuant to law.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CYPRESS:
The proposed Budget, as attached (Attachment A), for expenditures duly
submitted and considered as herein before stated, is hereby approved, adopted and fixed
as the annual budget of the City of Cypress for the fiscal year commencing July 1, 2023
and ending June 30, 2024, in the amounts and for the funds, purposes, functions,
departments and activities as hereinafter set forth; and
That said adopted Budget, including said supplemental revisions and amendments, shall
be duly authenticated by the Clerk of the Council and the same shall be placed in the
official files of the Office of the Clerk of the City Council; and
That the City Manager is hereby authorized to transfer monies as determined necessary
to the competent operation and control of the City business; except that no such transfer
shall be made in contravention to the State law or other City ordinance.
PASSED AND ADOPTED by the City Council of the City of Cypress, ex officio
governing Board of Directors of the Cypress Recreation and Park District, at a regular
meeting held on the 12th day of June, 2023.
04Tht,
MAYOR OF TH ITY OF CYPRESS
ATTEST:
CITY RK OF THE ITY OF CYPRESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
I, ALISHA FARNELL, City Clerk of the City of Cypress, DO HEREBY CERTIFY
that the foregoing Resolution was duly adopted at a regular meeting of the said City
Council held on the 12th day of June, 2023, by the following roll call vote:
AYES: 4 COUNCIL MEMBERS: Burke, Peat, Minikus and Hertz-Mallari
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 1 COUNCIL MEMBERS: Marquez
CITY CL RK OF THE ITY OF CYPRESS
419
Attachment A
CITY OF CYPRESS
SUMMARY OF RESOURCES AND APPROPRIATIONS BY FUND
Fiscal Year 2023-24
REVENUES/SOURCES EXPENDITURES/USES
BEG.FUND PROPOSED FUND OPERATING CAPITAL FUND END.FUND
FUND BALANCE REVENUE TRSFR-IN BUDGET BUDGET TRSFR-OUT OTHER* BALANCE
111 General Fund Operations $ 1,100,000 $39,738,842 $1,029,730 $ 37,582,617 $ - $ 3,224,611 $ 83,400 $ 1,144,744
111 General Fund Reserves 27,929,836 - - - - - (158,400) 27,771,436
114 General Fund Grants - 253,982 6,770 260,752 - - - -
115 Pandemic Resp&Recov - 6,277 - - - 6,277 - -
221 Traffic Safety - 84,000 - - - 84,000 - -
231 Spec Gas Tax 2105 - 330,650 - - - 330,650 - -
232 Special Gas Tax 2106 727,385 239,300 - - - - - 966,685
233 Special Gas Tax 2107 - 404,700 - - - 404,700 - -
234 Traffic Mitigation Assmt 484,357 15,000 - - - - - 499,357
235 Regional Traffic Fee 418,504 500 - - - - - 419,004
236 Measure M2 Sales Tax 2,087,807 1,455,000 A - - 1,010,000 1,400,000 - 1,132,807
238 Special Gas Tax 2103 1,356,084 534,300 - - - - - 1,890,384
239 Road Maint and Rehab 325,647 1,260,700 1,300,000 - 2,500,000 - - 386,347
251 Lighting Dist No 2 5,458,013 1,685,600 - 1,259,703 925,000 188,956 - 4,769,954
261 Storm Drain Fund 1,135,489 385,000 250,000 671,123 - - - 1,099,366
262 Plan Local Drain Fac 1,070,302 30,000 - - - - - 1,100,302
271 Corp Ctr Maint Dist#1 190,830 102,000 - 100,975 - 15,147 - 176,708
agoom
281-83 Narc Asset Seizure 1,143,372 48,500 - 102,612 - 574,000 - 515,260
291 Cable TV PEG 781,235 77,500 - - - 55,000 - 803,735
301 Supp Law Enforcement - 168,563 - 168,563 - - - - w_:,t
311 AB 2766 - 64,000 - - - 64,000 - -
321 Sewer Fund 7,379,578 2,064,400 - 474,164 285,000 - - 8,684,814
415 Capital Projects 16,278,631 - 4,100,000 - 5,600,000 - - 14,778,631
416 Infrastructure Reserve 70,585,918 2,000,000 320,000 - - 1,950,000 (26,500,000) 44,455,918
471 Low and Mod Hsg Assets 309 6,580 - 80,441 - - 75,000 1,448
TOTAL $138,453,297 $50,955,394 $7,006,500 $ 40,700,950 $10,320,000 $ 8,297,341 $(26,500,000) $110,596,900
*Denotes increase/(decrease)of committed/assigned/nonspendable fund balances anticipated during the fiscal year which include the following:
-Fund 111:Appropriate$191,700 of accumulated one-time Pandemic Recovery amounts to pay for the Business Development Manager position
-Fund 111:Appropriate$500,000 of accumulated one-time Pandemic Recovery amounts for capital projects
-Fund 111:Allocate$533,300 of FY 2023-24 resources to maintain the General Fund Reserve for Economic Uncertainty at 25%of operating expenditures
per the City's Fiscal Strategies
-Fund 111:$75,000 loan to the Low and Moderate Housing Assets Fund as cash flow to support FY 2023-24 operations
-Fund 416:$27.5 million loan to the Cypress Recreation and Park District for Arnold Cypress Park reconstruction
-Fund 416:$1 million loan repayment from the Cypress Recreation and Park District for design costs related to Arnold Cypress Park reconstruction
Note: Fund Transfers In and Fund Transfers Out do not equal in the above schedule due to the following:
Transfer-out of$397,841 is made from the General Fund to the Equipment Replacement Internal Service Fund for Capital Outlay.
Transfer-out of$200,000 is made from the General Fund to the Employee Benefits Internal Service Fund for Pension Trust Investment.
Transfer-out of$55,000 is made from the Cable TV PEG Fund to the Equipment Replacement Internal Service Fund for Capital Outlay.
Transfer-out of$574,000 is made from the Narcotics Asset Seizure Fund to the Equipment Replacement Internal Service Fund for Capital Outlay.
Transfer-out of$64,000 is made from the AB 2766 Trip Reduction Fund to reimburse the Equipment Replacement Internal Service Fund for a prior year
Capital Outlay purchase.