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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />February 22, 2016 <br />SUBJECT <br />Fiscal Year 2015/2016 Appropriation Revisions <br /> <br />RECOMMENDATION <br />Adopt a resolution appropriating and transferring certain funds for specified purposes during <br />fiscal year 2015-2016 <br /> <br />BACKGROUND <br />The City Council takes many actions throughout the year that 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 /> <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 in <br />the exhibits to the attached resolution (Exhibit A – Changes in Revenues and Exhibit B – <br />Changes in Expenditures). Although revenue increases noted here do not fully offset the <br />expenditure increases, there are sufficient reserves available. <br />Summary of Recommended Changes by Fund Type <br /> <br /> <br /> Net Impact of <br />Appropriations <br />Revenues Expenditures Adjustments <br />$ $ $ <br />General Fund 2,725,972 4,312,520 (1,586,548) <br />Special Revenue <br />Funds 1,438,486 3,184,886 (1,746,400) <br />Capital Projects <br />Funds 426,250 426,250 0 <br />Enterprise Funds 428,256 784,469 (356,213) <br />Internal Services <br />Funds - 371,000 (371,000) <br />Total Revisions 5,018,964 9,079,125 (4,060,161) <br />6.3.B. - Page 1