HomeMy WebLinkAboutAgenda Statement 1987/12/01 Item 9COUNCIL AGENDA STATEMENT
Item 9
• Meeting Date l,2/01/87
ITEM TITLE: RESOLUTION ~3„ 3<v~ APPROPRIATING $48,000 FROM THE UNAPPROPRIATED RESERVE
OF THE PARKING METER FUND TO PAY FOR ADDTIONAL SECURITY
IN THE PARKING FACILITY AND DOWNTOWN AREA
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SUBMITTED BY: DIRECTOR OF FINANCE,;; (4/5ths Vote: Yes X No )
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REVIEWED BY: CITY MANAGER (~
In July, 1987, the City Council approved the concept of using parking meter
funds in order to pay for additional security in the Downtown area. The purpose
of this resolution is to appropriate the funds to provide for that service in
Fiscal Year 1987-88.
RECOMMENDATION:
That Council approve the resolution appropriating $48,000 from the unappropriated
reserve of the Parking Meter Fund.
BOARDS/COMMISSIONS RECOMMENDATION:
The Town Centre Project Area Committee previously recommended that the Council
approve the expenditure of in-lieu parking fee revenues for the purchase or
• development of public parking facilities and the use of parking meter funds
to pay for additional security Downtown.
DISCUSSION:
On July 14, 1987, City Council Resolution No. 103127 revised the in-lieu
parking fee policy to allow the expenditure of in-lieu parking fee revenues
for the purchase or development of public parking facilities. This revision
was in order to allow the use of both in-lieu fee funds and Redevelopment
Agency funds together for the purpose of acquiring or developing land in the
Downtown area for public parking. As a trade-off for expending Redevelopment
funds for that purpose, it was recommended by staff and approved by Council
that Parking Meter Funds be used to finance additional security Downtown.
Police Reserves have been patrolling the Downtown area for the past three months.
FISCAL IMPACT:
A sufficient amount of money is available through parking meter revenues to
finance security. The balance in the Parking Meter Fund at 6/30/87 was
$303,000. The impact of the $48,000 supplemental appropriation is as follows:
Balance 6/30/87 $303,000
Estimated Revenue FY 87-88 $238,250
Appropriations:
• Original Budget $127,250
Supplemental Approp. 48,000
Total Approp. 175,250
Operating Surplus $ 63,000
Form A-113 Estim~.~ed Balance at 6/30/88 $366,000