HomeMy WebLinkAbout24203 RESOLUTION NO. 24203
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AMENDING THE BUDGET FOR FISCAL
YEAR 2016-17, APPROPRIATING A TOTAL OF $1,585,591, FOR
THE CITY COUNCIL CHAMBER AUDIO / VISUAL SYSTEM
UPGRADE, CITY PROJECT NO. 15-06, OF WHICH $985,591 IS
FROM THE ASSIGNED PEG FEE BALANCE IN THE GENERAL
FUND, AND $600,000 IS FROM THE UNRESTRICTED GENERAL
FUND RESERVES, AS AN INTERNAL LOAN TO BE REPAID
FROM FUTURE PAYMENTS RECEIVED FOR PUBLIC,
EDUCATIONAL AND GOVERNMENTAL (PEG) FEES.
WHEREAS, Resolution No. 24034 approving the Budget for the Fiscal Year
2016-2017 was adopted on June 1, 2016; and
WHEREAS, the City Manager has recommended, and the City Council desires to
approve, certain amendments to the budget for Fiscal Year 2016-2017; and
WHEREAS, the City Council has approved contract documents to implement the
City Council Chamber Audio/Visual System Upgrade, City Project No. 15-06, a capital
improvement project to install new technology upgrades to improve public access and
viewing of all City Council, Commission and other public meetings through the City's
public access television channel, (the "Project"); and
WHEREAS, the Project is an eligible project to be funded by the City's receipt of
restricted funds made possible through a restricted portion of franchise payments from
the City's local cable provider, Time Warner Cable, for capital improvements associated
with "public, educational, and governmental" (or "PEG") channels used by the City of
Palm Springs; and
WHEREAS, as of June 30, 2016, the City had reserved a restricted balance of
$985,590.81 for PEG capital improvements, with an anticipated receipt of an additional
$200,000 annually; and
WHEREAS, the Project is anticipated to cost $1,600,000 and will require
additional funding; and
WHEREAS, it is the City Council's intent to advance unrestricted General Fund
reserves to fully fund the Project, as an internal loan to be repaid from receipt of future
PEG fees paid by Time Warner Cable; and
WHEREAS, this Budget Resolution establishes terms of repayment of the
unrestricted General Fund loan for the Project.
Resolution No. 24203
Page 2
NOW, THEREFORE THE CITY COUNCIL DETERMINES, RESOLVES AND
APPROVES AS FOLLOWS:
SOURCE(S):
Fund Activity Account Amount
General Fund PEG Fees Assigned $985,591
Fund 001
General Fund Unrestricted Reserves $600,000
Fund 001
ADDITION(S):
Fund Activity Account Amount
General Fund 1231 50039 $1,585,591
Fund 001 PEG Fee Expense
PURPOSE: This appropriation is being made as an advance from unrestricted
General Fund reserves for eligible capital improvements to be paid from PEG fees, to
fully fund the City Council Chamber Audio / Visual System Upgrade, City Project No.
15-06.
LOAN REPAYMENT: This appropriation is made with the requirement that it be
fully repaid to unrestricted General Fund reserves through future payments received
from PEG fees paid by the City's local cable provider.
ADOPTED THIS 5T" DAY OF APRIL, 2017.
David H. Ready, Esq., h.D.
City Manager
ATTEST: n
ly�
Kathleen D. Hart, MIMIC
Interim City Clerk
Resolution No. 24203
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, KATHLEEN D. HART, Interim City Clerk of the City of Palm Springs, hereby
certify that Resolution No. 24203 is a full, true and correct copy, and was duly adopted
at a regular meeting of the City Council of the City of Palm Springs on April 5, 2017, by
the following vote:
AYES: Councilmembers Kors, Mills, Roberts, Mayor Pro Tern Foat, and
Mayor Moon
NOES: None
ABSENT: None
ABSTAIN: None
RECUSED: None
Kathleen D. Hart, MMC
Interim City Clerk