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RESOLUTION 28-14 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE <br /> TOWN OF LOS ALTOS HILLS ADOPTING THE FISCAL YEAR 2014-15 <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 <br /> review of the proposed 2014-15 Operating and Capital Improvement Program Budget and <br /> Employee Compensation Plan for fiscal year 2014-15; and <br /> WHEREAS, the City Council of the Town of Los Altos Hills now desires to adopt the 2014-15 <br /> Fiscal Year Appropriations Limit, Operating and Capital Improvement Program Budgets, and <br /> Employee Compensation Plan for fiscal year 2014-15; <br /> NOW THEREFORE, the City Council of the Town of Los Altos Hills does hereby resolve as <br /> follows: <br /> 1. The City Council does hereby approve and adopt an appropriations limit, pursuant to <br /> California Constitution Article XIII B, for fiscal year 2014-15 of$5,914,021 as set forth in <br /> GANN Appropriation Limit Calculation. <br /> 2. The City Council does hereby approve and adopt the Town's budget of $12,814,875 for <br /> fiscal year 2014-15 consisting of appropriations and inter-fund transfers as set forth in <br /> Proposed All Fund Summary section of the Fiscal Year 2014-15 Budget and the Employee <br /> Compensation Plan as set forth in the 2014-15 Compensation Plan section of the Fiscal <br /> Year 2014-15 Budget. <br /> 3. The amount of the 2014-15 Fiscal Year Budget for each account area of the budget may be <br /> drawn upon in the form of warrants issued for payment of demands and certified in <br /> accordance with the 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 <br /> and set forth in GANN Appropriation Limit Calculation section. The City Manager shall <br /> provide the Council with copies of this budget. <br /> et.P g <br /> 5. The City Manager shall periodically report to the City Council the amount and <br /> classification of 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 <br /> be kept on file with the City Clerk of the Town of Los Altos Hills, as the official budget of <br /> the Town of Los Altos Hills for the 2014-15 fiscal year. <br /> Resolution 28-14 Page 1 <br />