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RESOLUTION 38-15 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE TOWN <br /> OF LOS ALTOS HILLS ADOPTING THE FISCAL YEAR <br /> 2015-16 APPROPRIATION LIMIT,APPROPRIATIONS <br /> AND INTER-FUND TRANSFERS,AND EMPLOYEE <br /> COMPENSATION PLAN <br /> WHEREAS, the City Council of the Town of Los Altos Hills has received and completed its <br /> review of the proposed 2015-16 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 <br /> Appropriations Limit, Appropriations and Inter-fund Transfers, and Employee Compensation <br /> Plan for fiscal year 2015-16. <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 2015-16 of$6,081,370 as set forth <br /> in Exhibit A: GANN Appropriation Limit Calculation. <br /> 2. The City Council does hereby approve and adopt the Town's budget of$13,841,713 for <br /> fiscal year 2015-16 consisting of appropriations and inter-fund transfers as set forth in <br /> Exhibit B of the Fiscal Year 2015-16 Budget and the Employee Compensation Plan as set <br /> forth in the 2015-16 Compensation Plan. <br /> Fiscal Year Budget for each account area of the budget may <br /> 3. The amount of the 2015-16 F g g y <br /> be drawn upon in the form of warrants issued for payment of demands and certified in <br /> accordance with the provisions of California Government Code Section 37208 and <br /> 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 /> 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 attended to by the City Clerk, <br /> shall be kept on file with the City Clerk of the Town of Los Altos Hills, as the office <br /> budget of the Town of Los Altos Hills for the 2015-16 fiscal year. <br /> Resolution 38-15 Page 1 <br />