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• <br /> RESOLUTION No. 2 <br /> 3 --31 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE <br /> TOWN OF LOS ALTOS HILLS ADOPTING THE FISCAL YEAR 2011-12 <br /> APPROPRIATIONS LIMIT,APPROPRIATIONS AND INTERFUND TRANSFERS, <br /> AND EMPLOYEE COMPENSATION PLAN <br /> WHEREAS, the City Council of the Town of Los Altos Hills has received and completed its review of <br /> the proposed 2011-12 Operating and Capital Improvement Program Budget and Employee Compensation <br /> Plan for fiscal year 2011-12; and <br /> WHEREAS, the City Council of the Town of Los Altos Hills now desires to adopt the 2011-12 Fiscal <br /> Year Appropriations Limit, Operating and Capital Improvement Program Budgets, and Employee <br /> Compensation Plan for fiscal year 2011-12; <br /> NOW THEREFORE,the City Council of the Town of Los Altos Hills does hereby resolve as follows: <br /> 1. The City Council does hereby approve and adopt an appropriations limit, pursuant to California <br /> Constitution Article XIII B, for fiscal year 2011-12 of$5,031,438 as set forth in Exhibit A. <br /> 2. The City Council does hereby approve and adopt the budget for the Town for fiscal year 2011-12 <br /> consisting of appropriations and interfund transfers as set forth in Exhibit B and the Employee <br /> Compensation Plan as set forth in Exhibit C attached hereto. <br /> 3. The amount of the 2011-12 fiscal year budget for each account area of the budget may be drawn <br /> upon in the form of warrants issued for payment of demands and certified in accordance with the <br /> provisions of California Government Code Sections 37208 and 37209. <br /> 4. The City Manager is hereby authorized to prepare an administrative budget which further <br /> specifies the accounts for the expenditure of appropriations approved by the City Council and set <br /> forth in Exhibit A. The City Manager shall provide the Council with copies of this budget. <br /> 5. The City Manager shall periodically report to the City council the amount and classification of <br /> revenues received and expenditures made. <br /> 6. A copy of the adopted budget, signed by the Mayor and attested to by the City Clerk, shall be <br /> kept on file with the City Clerk of the Town of Los Altos Hills, as the official budget of the Town <br /> of Los Altos Hills for the 2011-12 fiscal year. <br /> REGULARLY PASSED AND ADOPTED this 16t day of June,2011. <br /> ://._ <br /> - - BY: , • <br /> Ging r�Sum , yor <br /> ATTEST: <br /> <br /> --Acting City-Clerk <br />