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<br /> 52A4 , <br /> R IEP(JRTt~:- -C' , ,,' . <br /> T 0 "the Honorable MayôrarutCityCou nen <br /> From the City -Manager <br /> July 12, 2004 <br /> Subject <br /> Fiscal Year 2003/2004 Appropriation Revisions <br /> Recommendation <br /> It is recommended that the City Council introduce an ordinance by the affirmative vote of <br /> five-sevenths (5/7ths) of all council members appropriating and transferring certain funds <br /> for specified purposes in order to conform the budgeted amounts to actual expenditures <br /> approved for transactions, which have occurred during fiscal year 2003/2004. <br /> Background <br /> The following are summaries of recommended changes in appropriations for both <br /> revenues and expenditures by fund. A detailed explanation of these revisions is provided <br /> in Attachments A (revenue changes) and B (expenditure changes). Council takes many <br /> actions throughout the year that change or modify the budget. Moreover, grants and other <br /> revenues are received that were not anticipated when the budget was prepared. <br /> Appropriations need to be established so that staff may spend these grants and revenues. <br /> Staff holds these changes and periodically presents the appropriation changes to Council <br /> for approval. <br /> Summary of Recommended Budget Changes by Fund <br /> Net Change in <br /> Revenues Expenditures Fund Balance <br /> $ $ $ <br /> General Fund 46,333 46,479 (146) <br /> Capital Outlay Fund 589,000 2,971,020 (2,382,020) <br /> Sewer Fund 0 456,315 (456,315) <br /> Water Fund Q 50,000 (50,000) <br /> <br /> Total Revisions §35.333 ~ ~ <br /> <br /> Alternative <br /> Should the Council elect not to approve all or any of these recommended adjustments, the <br /> consequences will vary depending upon the circumstances surrounding each specific line <br /> item. If Council has previously approved an item in concept then an expenditure or <br /> commitment may have already been made and the program or project budget will then be <br /> over-expended. If the recommended adjustment concerns a grant then staff will be unable <br /> to utilize the grant. In other situations, staff will need to forego the underlying action. <br /> , . -... <br />