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Page 1 of 3 <br />REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />June 22, 2015 <br />SUBJECT <br />Fiscal Year 2014-2015 Appropriation Estimated Revenue and Transfer Revisions <br /> <br />RECOMMENDATION <br />1. Adopt a resolution appropriating and transfering certain funds for specified purposes <br />to conform the budgeted amounts to actual revenues or expenditures for transactions <br />which have occurred or are anticipated to occur during fiscal year 2014-2015. <br /> <br />2. Adopt a resolution classifying certain amounts as committed fund balance pursuant <br />to the reporting requirements of Governmental Accounting Standards Board Statement <br />No. 54 (GASB 54). <br /> <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 City Council for <br />approval twice a year. The first presentation was February 23, 2015. The second <br />presentation, which is the subject of this staff report, typically occurs in June. <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 <br />provided in the exhibits to the attached resolution (Exhibit A – Changes in Revenues <br />and Transfers In and Exhibit B – Changes in Expenditures and Transfers Out). <br />Summary of Recommended Budget Changes by Fund Type <br /> REVENUES AND TRANSFERS <br />IN <br />EXPENDITURES AND <br />TRANSFERS OUT <br />NET CHANGE IN FUND <br />BALANCE <br />General Fund $391,491 $3,677,713 ($3,286,222) <br />Special Revenue Funds $4,033,948 $1,816,169 $2,217,779 <br />Capital Projects Funds $275,739 ($924,408) $1,200,147 <br />Enterprise Funds - $510,000 ($510,000) <br />Internal Services Funds $2,200,000 - $2,200,000 <br />Total Revisions $6,901,178 $5,079,474 $1,821,704 <br />7.3.B. - Page 1