HomeMy WebLinkAboutReso 2020-047 - Approving & Adopting 32nd Amendment to city budget Reso 2019-050 RESOLUTION NO. 2020-047
A RESOLUTION OF THE CITY OF REDDING APPROVING AND ADOPTING THE
32ND AMENDMENT TO CITY BUDGET RESOLUTION NO. 2019-050 RESCINDING
APPROVAL OF ALLOCATION OF CAP AND TRADE FUNDS FOR THE WILDFIRE
MITIGATION AND BUILDING ELECTRIFICATION PROGRAMS; APPROVE THE
APPROPRIATION OF $9,000,000 OF CAP AND TRADE AUCTION PROCEEDS TO BE
DISTRIBUTED TO RATEPAYERS FOR FISCAL YEAR 2019-20
BE IT RESOL VED B Y THE CITY COUNCIL OF THE CITY OF REDDING
THAT Budget Resolution No. 2019-050 be and is hereby amended as follows:
FUND DIVISION DESCRIPTION INCREASE DECREASE
142 854 GHG Customer Distribution $9,000,000
THAT account titles and numbers requiring adjustments by this Resolution are as follows:
USE SOURCE
OF FUNDS OF FUNDS
Decrease in Beginning Balance
142-851-01-0001-01 Beginning Balance $ 1,077,910
Decrease in Cap and Trade Revenues
142-851-01-4400-01 Environmental Attributes $ 2,022,090
Elimination of Building Electrification Project
142-854-8908-98 Building Electrification $ 4,000,000
Elimination of Wildfire Mitigation Project
142-854-8908-99 Wildfire Mitigation $ 1,900,000
Increase in GHG Customer Distribution
142-854-8908-90 GHG Customer Distribution $ 9,000,000
Total $ 9,000,000 $ 9,000,000
THAT the purpose is to rescind approval of allocation of Cap and Trade funds for the Wildfire
Mitigation and Building Electrification programs; approve the appropriation of $9,000,000 of
Cap and Trade auction proceeds to be distributed to ratepayers for fiscal year 2019-20.
I HEREBY CERTIFY that the foregoing resolution was introduced at a regular meeting of the
City Council of the City of Redding on the 21" day of April, 2020 and was duly adopted at said
meeting by the following vote:
AYES: COUNCIL MEMBERS: Dacquisto, Resner, Schreder, Winter, and McElvain
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
ADANT McELVAIN, Mayor
ATTEST: FORM APPROVAL:
PAMELA MIZE, Clerk BARRY E. e ALT, ity Attorney