HomeMy WebLinkAbout35-17 RESOLUTION 35-17
A RESOLUTION OF THE CITY COUNCIL OF THE TOWN
OF LOS ALTOS HILLS ACCEPTING THE FISCAL YEAR
2017-18 SEWER OPERATION AND CAPITAL PLAN
WHEREAS, the City Council of the Town of Los Altos Hills has received and completed its
review of the proposed 2017-18 Operating and Capital Budget; and
WHEREAS,the City Council is concerned with Sewer Cash Flow and the need to increase sewer
rates; and
WHEREAS,the City Council directed staff to meet with Finance &Investment Committee (FIC)
and revisit the Cash Flow model and discuss ways to raise the available cash above to minimum
cash reserve requirement of$1.5 million; and
WHEREAS, staff met with the FIC Chair and Vice Chair and were tasked to review the Cash
Flow and remove all budgeted contingency; and
WHEREAS, staff identified $250,000 to $450,000 of budgetary contingency to be used for
unanticipated sewer needs including sanitary sewer overflows, special sewer projects, and other
unexpected spending increases; and
WHEREAS, the removal of all budgetary contingencies will bring the available cash above the
minimum reserve level; and
NOW THEREFORE, the City Council of the Town of Los Altos Hills does hereby resolve to
accept the 2017-18 Sewer Operation and Capital Plan with budgetary contingencies.
The above and foregoing Resolution was passed and adopted by the City Council of the Town of
Los Altos Hills at a regular meeting held on the 15th day of June 2017 by the following vote:
AYES: Waldeck, Radford, Corrigan, Spreen, Wu
NOES: None
ABSTAIN: None
ABSENT: None
BY: -- ",# 17
Gary Waldeck, Mayor
ATTEST:
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", Deborah Padovan, City Clerk
Resolution 35-17 Page 1