CITY of ALBUQUERQUE
TWENTIETH COUNCIL
COUNCIL BILL NO. C/S
R-12-41 ENACTMENT NO. _
SPONSORED BY: Dan Lewis
RESOLUTION
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C/S Appropriating Funds For Operating The Government Of The City Of Albuquerque For Fiscal Year 2013, Beginning July 1, 2012 And Ending June 30, 2013; Adjusting Fiscal Year 2012 Appropriations; And Adjusting Operating Grants And Capital Funds (Lewis)
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APPROPRIATING FUNDS FOR OPERATING THE GOVERNMENT OF THE CITY OF ALBUQUERQUE FOR FISCAL YEAR 2013, BEGINNING JULY 1, 2012 AND ENDING JUNE 30, 2013; ADJUSTING FISCAL YEAR 2012 APPROPRIATIONS; AND ADJUSTING OPERATING GRANTS AND CAPITAL FUNDS.
WHEREAS, the Charter of the City of Albuquerque requires the Mayor to formulate the annual operating budget for the City of Albuquerque; and
WHEREAS, the Charter of the City of Albuquerque requires the Council to approve or amend and approve the Mayor's budget; and
WHEREAS, appropriations for the operation of the City government must be approved by the Council.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
Section 1. That the amount of $39,630,000 is hereby reserved as the Operating Reserve Fund for the City of Albuquerque for Fiscal Year 2013. Section 10 provides an additional $400,000 to build-up the operating reserve above 1/12th in order to adjust to future economic downturns and maintain current bond ratings.
Section 2. The amount of $1,314,000 is hereby reserved in the General Fund for labor negotiations. In addition, $110,000 is reserved to meet the 1/12th requirement pending the appropriation of the wage increase. The General Fund also has a recurring revenue to recurring appropriation balance in excess of the $1,314,000 to allow for this wage increase to be paid out on a permanent basis.
Section 3. The amount of $2,892,000 is hereby reserved in the General Fund for future projects as determined by the Council.
Section 4. That the following amo...
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