Resolution No. 6970 36
RESOLUTION NO. 6970
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
APPROVING THE ANNUAL BUDGET FOR THE FISCAL YEAR
COMMENCING JULY 1, 2024 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, 2024,
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, 2024 and
ending June 30, 2025, 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 10th day of June, 2024.
OR OF TH OF CYPRESS
ATTEST:
cia,
CITY CLERK OF TH CITY 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 10th day of June, 2024, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Burke, Mallari, Marquez, Peat and Minikus
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
CITY ERK OF T E CITY OF CYPRESS
37
Attachment A
CITY OF CYPRESS
SUMMARY OF RESOURCES AND APPROPRIATIONS BY FUND
Fiscal Year 2024-25
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 $ 1,751,964 $41,939,752 $1,019,113 $ 39,933,372 $ - $ 3,102,658 $ 571,876 $ 2,246,675
111 General Fund Reserves 27,783,343 - - - - - (593,400) 27,189,943
114 General Fund Grants - 251,436 6,980 258,416 - - - -
115 Pandemic Resp 8 Recov - - - - -
221 Traffic Safety - 68,600 - - - 68,600 - -
231 Spec Gas Tax 2105 - 312,833 - - - 312,833 - -
232 Special Gas Tax 2106 1,084,869 242,158 - - - 300,000 - 1,027,027
233 Special Gas Tax 2107 - 435,029 - - - 435,029 - -
234 Traffic Mitigation Assmt 1,122,725 45,000 - - - - - 1,167,725
235 Regional Traffic Fee 453,119 500 - - - - - 453,619
236 Measure M2 Sales Tax 1,727,050 1,535,000 - - 1,025,000 1,550,000 - 687,050
238 Special Gas Tax 2103 2,306,625 497,463 - - - 650,000 - 2,154,088
239 Road Maint and Rehab 347,275 1,314,599 1,450,000 - 3,100,000 - - 11,874
251 Lighting Dist No 2 4,175,013 1,905,900 - 1,242,750 2,375,000 186,413 - 2,276,750
261 Storm Drain Fund 1,933,696 450,000 250,000 845,991 - - - 1,787,705
262 Plan Local Drain Fac 1,115,756 45,000 - - - - - 1,160,756
271 Corp Ctr Maint Dist#1 174,300 101,285 - 108,251 - 16,238 - 151,096
281-83 Narc Asset Seizure 708,835 41,000 - 334,052 - 268,930 - 146,853
291 Cable TV PEG 795,396 72,000 - - - - - 867,396
301 Supp Law Enforcement - 188,500 - 188,500 - - - -
311 AB 2766 66,500 -
-
32,100 - 34,400
321 Sewer Fund 8,845,815 1,993,575 - 552,355 950,000 - - 9,337,035
415 Capital Projects 14,791,796 - 5,570,000 - 5,570,000 - - 14,791,796
416 Infrastructure Reserve 41,460,888 2,000,000 - - - 1,820,000 2,000,000 43,640,888
471 Low and Mod Hsg Assets 18,072 1,000 - 40,596 - - 21,524 -
TOTAL $110,596,537 $53,507,130 $8,296,093 $ 43,504,283 $13,020,000 $ 8,742,801 $ 2,000,000 $109,132,676
Denotes increase/(decrease)of committed/assigned/nonspendable fund balances anticipated during the fiscal year which include the following:
-Fund 111:Appropriate$186,200 of accumulated one-time Pandemic Recovery amounts to pay for the Business Development Manager position
-Fund 111:Appropriate$600,000 of accumulated one-time Pandemic Recovery amounts for capital projects
-Fund 111:Allocate$192,800 of FY 2024-25 resources to maintain the General Fund Reserve for Economic Uncertainty at 25%of operating expenditures pe
City's Fiscal Strategies
-Fund 111:$21,524 loan to the Low and Moderate Housing Assets Fund as cash flow to support FY 2024-25 operations
-Fund 416:$2 million loan repayment from the Cypress Recreation and Park District for design costs associated with the reconstruction of Arnold Cypress PE
Note: Fund Transfers In and Fund Transfers Out do not equal in the above schedule due to the following:
Transfer-out of$145,678 is made from the General Fund to the Equipment Replacement Internal Service Fund for Capital Outlay.
Transfer-out of$268,930 is made from the Narcotics Asset Seizure Fund to the Equipment Replacement Internal Service Fund for Capital Outlay.
Transfer-out of$32,100 is made from the AB 2766 Trip Reduction Fund to reimburse the Equipment Replacement internal Service Fund for a prior year
Capital Outlay purchase.