1996-07 Adopt 96/97 Budget
.
.
.
RESOLUTION NO. 96-07
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE CARDIFF SANITATION DISTRICT
ADOPTING FISCAL YEAR 1996-97 BUDGET AND
FYS 1997-2001 FIVE YEAR FINANCIAL PLAN/CAPITAL IMPROVEMENT
PROGRAM (FUNDING LEVEL FOR FISCAL YEAR 1996-97)
WHEREAS, each year the Cardiff Sanitation District Board of Directors adopts an
Operating Budget for revenues and expenditures for the upcoming year; and
WHEREAS, each year the Board of Directors adopts a Five Year Financial Plan and
Capital Improvement Program for the upcoming five years; and
WHEREAS, the Board of Directors desires to make- provision for a level of service
commensurate with the needs of the District; and
WHEREAS, the Board of Directors have reviewed the proposed Fiscal Year 1996-97
Operating Budget Report; and
WHEREAS, the Board of Directors has reviewed the proposed FiscaI Years 1997-2001
Five Year FinanciaI Plan and Capital Improvement Program.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Cardiff
Sanitation District does, hereby, adopt the Annual Operating Budget for FiscaI Year 1996-97 as
summarized by Schedule A attached hereto.
BE IT FURTHER RESOLVED that the Board of Directors of the Cardiff Sanitation
District does, hereby, adopt the funding of the Capital Improvement Program for FiscaI Year
1996-97 as summarized by Attachment D.
PASSED AND ADOPTED at a meeting of the Board of Directors on the 12th day of
June, 1996, by the following vote, to wit:
AYES:
Aspell, Bond, Davis, DuVivier, Hano
NAYS:
None
ABSENT:
None
ABSTAIN: None
/~L:2-
Davis, Chairman of the Board
ardiff Sanitation District
:ërT:
¡/ ~{I~G///l~~
Deborah Cervone, Clerk of the Board
~
Page .
/ð~
--4
Book .
. . .
CARDiff SANITATION DISTRICT fISCAL Yt~~ 1996/97 BUDGET SUMMARY S'-lledule A
4/8/96
(1) (2) (3) (4) (5) (6) (7) (8) (9)
Projected
Fiscal Year Fiscal Year Ending
8eglnnlng Projected Projected Interfund Interfund Interfund Current Year Balance
Balance 1996-97 1996-97 Transfers Transfers Transfers Summary 6/30197
711196 Revenues Expenses Operating Capital loans (Col.3-4+5+6+ 7) (Cot. 2+8)
OPERATING 410,000 2,123,964 1,633,080 0 (490,884) 0 0 410,000
CAPITAL REPLACEMENT 2,958,645 268,187 30 1 ,250 (600,315) 490,884 (169,876) (312,370) 2,646,275
CAPITAL EXPANSION 0 121,963 33,750 (298,764) 0 210,551 0 0
DEBT SERVICE 0 50, 000 949,079 899,079 0 0 0 0
RECLAMATION 0 40,675 .0 0 0 (40,675) 0 0
TOTAL All FUNDS 3,368,645 2,604,789 2,917.159 0 0 0 (312,370) 3,056,275
CAPIT AllMPROVEMENTS
SUBTOTAL 2,958,645 430,825 335,000 (899.079) 490,884 0 (312,370) 2,646,275
OOIfS
r
..
SUMMARY OF INTERFUtfOlRANSFERS:
G'
FUND FROM FUND TO
Operating Replacement
Replacement expansion
Replacement Debt Service
Expansion Debt Service
Reclamation Replacement
I
..
~
(.).)
SAMOUNT
490,884 Funds In excess of the 25% Operating Reserve are transferred for capital projects
210,551 loan from Replacement to Expansion to cover debt service and capital projects.
600,315 Replacement Fund's 66.77% portion of 1990 Debt
298,764 expansion Fund's 33.23% portion of 1990 Debt
40,675 Partial repayment of $255,950, FY95/96 loan from Replacement to Reclamation.
(Note: loan on Schedule A's for budgeting purposes only.)