HomeMy WebLinkAboutReso 2011-096RESOLUTION NO. 201 ]-096
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING THE APPROPRIATION OF
$58,439 FROM THE TRANSPORTATION DEVELOPMENT
ACT FUND FOR A TRANSFER TO THE TRANSPORTATION
SALES TAX (TRANSNET) FUND
WHEREAS, annually, the City is required to perform a reconciliation of TransNet and
TDA funds whereby the outcome of the reconciliation resulted in a recommendation to transfer
eligible TDA funds to the TransNet fund to mitigate cash allocation discrepancies without
impact to existing projects and ensure audit compliance; and
WHEREAS, on June 22, 2010 Council approved by Resolution 2010-166 the TransNet
and TDA Fund reconciliation, transfer and allocation adjustments; and
WHEREAS, though an amount of $57,384 was identified in the exhibit attached to the
agenda statement for resolution no. 2010-166 as an amount recommended for transfer from the
TDA fund to the TransNet Fund, the language of the resolution did not request such action be
taken; thus, the transfer did not occur at that time; and
WHEREAS, since that time the TDA fund has earned interest in an amount of $1,055;
and
WHEREAS, staff is recommending the transfer of $58,439, the original transfer amount
of $57,384 plus the accrued interest; and
WHEREAS, the transfer from the TDA fund to the TransNet fund will allow for the
following project budget changes:
Pro'ect No. Ori final Amonnt Interest Earned Revised Amonnt
STL286 $57,910 $1,055 $58,965
STL287 ($50) $0 ($50)
STL336 ($476) $0 ($476
Total $57,384 $1,055 $58,439
WHEREAS, there are sufficient TDA funds to transfer to the TransNet Fund.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby authorize an appropriation of $58,439 to the Transfers Out Expense Category
of the TDA fund for a transfer to the TransNet fund.
Resolution No. 2011-096
Page 2
Presented by
Approved as to form by
i
Richaz A o cin Gen R. Go gins
Director of Publi orks Cit ey
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 7th day of June 2011 by the following vote:
AYES: Councilmembers:
NAYS: Councilmembers:
ABSENT: Councilmembers:
ABSTAIN: Councilmembers:
ATTEST:
Bensoussan, Castaneda, Ramirez and Cox
None
None
Aguilaz
0
Donna R. Noms, C C, ' y Jerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
Cheryl Cox, or
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2011-096 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 7th day of June 2011.
Executed this 7th day of June 2011.
d o
Donna R. Norris, CM ,City Clerk