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RESOLUTION 55-16 <br /> RESOLUTION AMENDING THE FISCAL YEAR 2016-17 OPERATING BUDGET TO' <br /> APPROPRIATE FISCAL YEAR 2015-16 CARRYOVER ENCUMBRANCES <br /> WHEREAS,at the end of each fiscal year,outstanding encumbrances are reported as Reservations <br /> of Fund Balances which requires appropriation in the subsequent year; and <br /> WHEREAS, at the end of fiscal year 2015-16, the outstanding encumbrances by fund were as <br /> followed: <br /> Storm Drain Fund (045): $ 750,000 <br /> Street CIP Fund (046): $ 49,158 <br /> Sewer CIP Fund (048): $ 750,075 <br /> Internal Service Fund(061): $ 10,000 <br /> Total $ 1,559,233 <br /> WHEREAS, the appropriation of these encumbrances ensure that previously authorized funds are <br /> available in the current year budget to cover the cost of uncompleted projects and.continuing <br /> obligations; and <br /> NOW THEREFORE,the City Council of the Town of Los Altos Hills hereby resolves to amend <br /> the 2016-17 Operating and Capital Budget to appropriate 2015-16 carryover encumbrances as' <br /> indicated in Attachment 1. <br /> The above and foregoing Resolution was passed and adopted by the City Council of the Town of <br /> Los Altos Hills at a regular meeting held on the 15th day of September, 2016 by the following <br /> vote: <br /> AYES: Harpootlian, Waldeck, Corrigan, Radford, Spreen <br /> NOES: None <br /> ABSTAIN: None <br /> ABSENT: None <br /> BY: <br /> J hn Harpootlian, Mayor <br /> ATTEST: <br /> Deborah Padovan, City Clerk <br /> Resolution 55-16 Page 1 <br />