HomeMy WebLinkAboutCC Res 6850 2018-07-23 RESOLUTION 6850
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
ADOPTING A RESERVE POLICY
THE SEAL BEACH CITY COUNCIL DOES HEREBY FIND AND RESOLVE:
Section 1. In 2001, the City Council adopted a Policy to establish a financial
plan.
Section 2. The City's Budget and Fiscal Policies, as approved and amended
by the City Council in June 2004, includes a section addressing fund balance
designations and reserves.
Section 3. The City has determined there is a need to establish mechanisms
for the use and/or replenishment of existing reserves, and to refine the purpose
and structure of each reserve, in accordance with current best practices, while
maintaining consistency with the Strategic Plan Goal and Achieve Short- and
Long-Term Fiscal Sustainability.
Section 4. The City has determined that this Resolution is not a "project" for
purposes of the California Environmental Quality Act ("CEQA"), as that term is
defined by CEQA Guidelines, because this Resolution constitutes organizational
or administrative activities of City government that will not result in direct or
indirect physical changes in the environment. (CEQA Guidelines Section
15378(b) (5)).
Section 5. Based on the foregoing, the City Council hereby adopts the
Reserve Policy as set forth in attached Exhibit A, effective immediately.
PASSED, APPROVED and ADOPTED by the Seal Beach City Council at a
regular meeting held on the 23rd day of July, 2018 by the following vote:
AYES: Council Members: Varipapa, Deaton, Massa-Lavitt, Moore, Sustarsic
NOES: Council Members: None
ABSENT: Council Members None
ABSTAIN: Council Members: None �yyt,
f'//— --
Mike Varipapa, Mayor
SEALge.
ATTEST: i peoeai
' ' yr
Robin L. Roberts, City Clerk 'a,?y� �"
,> > - '<�:
'"FcOONt✓�P:
Resolution Number 6850
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Robin L. Roberts, City Clerk of the City of Seal Beach, do hereby certify that
the foregoing resolution is the original copy of Resolution 6850 on file in the office
of the City Clerk, passed, approved, and adopted by the Seal Beach City Council
at a regular meeting held on the 23rd day of July, 2018.
Q&:(90),5/-0114‘,
Robin L. Roberts, City Clerk
J
I