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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />June 27, 2016 <br /> <br />SUBJECT <br />Fiscal Year 2015-2016 Appropriation, Estimated Revenue and Transfer Revisions <br /> <br />RECOMMENDATION <br />Adopt a resolution, approving the appropriation and transfer of certain funds for <br />specified purposes to conform the budgeted amounts to actual revenues or <br />expenditures for transactions which have occurred or are anticipated to occur during <br />fiscal year 2015-2016. <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 22, 2016. 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 /> <br />Summary of Recommended Budget Changes by Fund Type <br /> REVENUES AND <br />TRANSFERS IN <br />EXPENDITURES AND <br />TRANSFERS OUT <br />NET CHANGE IN FUND <br />BALANCE <br />General Fund $113,728 $3,082,217 ($2,968,489) <br />Special Revenue Funds $1,244,962 $1,549,821 ($304,859) <br />Capital Projects Funds $259,730 $766,838 ($507,108) <br />Enterprise Funds $1,849,177 $2,257,627 ($408,450) <br />Internal Services Funds $2,500,000 - $2,500,000 <br />Total Revisions $5,967,597 $7,656,503 ($1,688,906) <br /> <br />6.3.E. - Page 1