HomeMy WebLinkAboutReso 2012-195RESOLUTION NO. 2012-195
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AMENDING THE FISCAL YEAR 2011/2012
WESTERN PARK ACQUISITION AND DEVELOPMENT
FUND BUDGET FOR LAND ACQUISITION AND
APPROPRIATING FUNDS THEREFOR
WHEREAS, on June 21, 2011, the City Council of the City of Chula Vista adopted a
$124.6 million General Fund budget for Fiscal Year 2011/2012; and
WHEREAS, at the December 6, 2011 City Council meeting, approval was granted to
purchase a 1.89 acre parcel to be combined with other parcels for future development of a 20.08
acre community park; and
WHEREAS, Resolution No. 2011-241 approved the purchase of the parcel and the
purchase agreement that required 11 monthly payments of approximately $85,400; and
WHEREAS, the resolution approved a Fiscal Year 2011/2012 appropriation of $598,000
to account for the seven monthly payments that fall in the Fiscal Year with the remaining
purchase amount having been budgeted in the Fiscal Year 2012/2013 budget; and
WHEREAS, the City is undergoing its annual financial statement audit and the City's
independent auditors are requiring that the entire purchase amount of the property be recorded in
the Fiscal Year 2011/2012 accounting records; and
WHEREAS, in order to capitalize the entire amount of the parcel (which includes
purchase price plus associated acquisition and closing costs) and to comply with the auditor's
request an additional appropriation in the amount of $346,000 is requested to amend the Fiscal
Year 2011/2012 budget of the Western Park Acquisition and Development Fund Capital
category.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista
does hereby approve an appropriation in the amount of $346,000 to amend the Fiscal Year
2011/2012 budget of the Western Park Acquisition and Development Fund Capital category for
the above-referenced purposes.
Presented by
Maria achadoorian
Director ofFinance/Treasurer
Approved as to form by
Glen R. ogin~~
it Atto ey
Resolution No. 2012-195
Page No. 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 23rd day of October 2012 by the following vote:
AYES: Councilmembers: Aguilar, Bensoussan, Castaneda, Ramirez and Cox
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Cheryl Cox, Ma} r
ATTEST:
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Donna R. Norris, CMC, City Clerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2012-195 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 23rd day of October 2012.
Executed this 23rd day of October 2012.
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Donna R. Norris, C C, ity Clerk