HomeMy WebLinkAboutReso 2022-130 DocuSign Envelope ID: 1EFCDFFD-686C-4F9B-A6E3-C7CF95B4329A
RESOLUTION NO. 2022-130
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA ADOPTING THE MEASURE A FUND
RESERVE POLICY
WHEREAS, in June 2018, the citizens of Chula Vista approved Measure A which enacted
the '/2 cent sales tax to support public safety staffing; and
WHEREAS, on April 14,2022, staff presented the proposed reserve policy to the Measure
A Citizen's Committee (COC), which recommended and Economic Contingency Reserve of no
less than 90 days or 25% of the annual operating budget; and
WHEREAS, on April 14, 2022, the Measure A Citizens' Oversight Committee (COC)
proposed to reduce the amount of the Economic Contingency Reserve to 60 days; and
WHEREAS, staff recommends approval of an Economic Contingency Reserve of 60 days;
and
WHEREAS,the Measure A COC recommended the removal of language in the Calculation
of Reserves describing how additional reserves would be used, and staff have modified the
language to expand the use of additional reserves.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista,
that it adopts the staff recommended Economic Contingency Reserve of 60 days or approximately
16% of the annual operating budget with the City staff recommendation on the calculation of
reserve language.
[SIGNATURES ON THE FOLLOWING PAGE]
DocuSign Envelope ID: 1EFCDFFD-686C-4F9B-A6E3-C7CF95B4329A
Resolution No. 2022-130
Page No. 2
Presented by Approved as to form by
DocuSigned by: DocuSigned by:
A2701C384CE6401... E,CF406508504 !F...
Sarah Schoen Glen R. Googins
Director of Finance/Treasurer City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 24th day of May 2022 by the following vote:
AYES: Councilmembers: Cardenas,Galvez,McCann,Padilla, and Casillas Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
DocuSigned by:
062BFD7C0386456...
Mary Casillas Salas, Mayor
ATTEST:
DocuSigned by:
3074D104EAF342E...
Kerry K. Bigelow, MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2022-130 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 24th day of May 2022.
Executed this 24th day of May 2022.
DocuSigned by:
E,,
3074D104EAF342E...
Kerry K. Bigelow, MMC, City Clerk