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7.1.E. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> February 23, 2015 <br /> SUBJECT <br /> Fiscal Year 2014/2015 Appropriation Revisions <br /> RECOMMENDATION <br /> Approve, by resolution, appropriation and transfer of certain funds for specified <br /> purposes to confirm the budgeted amounts to actual revenues or expenditures for <br /> transactions which have occurred or are anticipated to occur during fiscal year 2014- <br /> 2015. <br /> BACKGROUND <br /> Council takes many actions throughout the year that change or modify the budget <br /> approved before the beginning of that fiscal year. In addition, as staff monitors actual <br /> revenues and expenditures during the year, projections are updated and adjustments <br /> are proposed as appropriate. Staff generally presents such changes to Council for <br /> approval twice a year. The first presentation, which is the subject of this staff report, <br /> typically occurs in February, shortly after the mid-point of the fiscal year. <br /> ANALYSIS <br /> The following table summarizes recommended changes in appropriations for revenue, <br /> transfers and expenditures by fund. A detailed explanation of these revisions is provided <br /> in the exhibits to the attached resolution (Exhibit A — Changes in Revenues and Exhibit <br /> B — Changes in Expenditures). <br /> Summary of Recommended Budget Changes by Fund Type <br /> REVENUES EXPENDITURES NET CHANGE IN FUND <br /> BALANCE <br /> General Fund $689,668 $1,555,457 ($865,789) <br /> Special Revenue Funds $206,078 $97,907 $108,171 <br /> Capital Projects Funds $206,000 $337,000 ($131,000) <br /> Enterprise Funds $336,296 $113,296 $223,000 <br /> Internal Services Funds - $107,015 ($107,015) <br /> Total Revisions $1,438,042 $2,210,675 ($772,633) <br />