AgdaPkt 2002-07-01 - Laserfiche WebLink

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July 1,2002 ' Subject Fiscal Year 2001/2002 Appropriations Revisions Recommendation It is recommended that the City Council introduce an ordinance appropriating and transferring certain funds for specified purposes in order to conform budgeted amounts to actual expenditures approved for transactions which occurred during fiscal year 2001/2002. Background The following are summaries of appropriations by fund. A detailed explanation of these revisions is provided in Attachment A. Council takes many actions throughout the year that change or modify the budget. Staff holds these changes and periodically presents the appropriate changes to Council for approval. Increase General Fund $1,491,048 Vehicle Fund 87,000 Sewer Fund 3,950 Worker's Compensation Insurance Fund 422,000 Capital Outlay Fund 67,000 Total "Expenditure" Revisions $2,070.998 Alternative Should the Council elect not to approve all or any of these recommended adjustments, the consequences will vary depending upon the cimumstances surrounding each specific line item. If Council has previously approved an item in concept then an expenditure or commitment may have already been made and the program or project budget will then be over-expended. If the recommended adjustment concems a grant then staff will be unable to utilize the grant. In other situations, staff will need to forego the underlying action. Fiscal Impact These revisions are necessary to transfer or formally appropriate funds to implement many projects and issues that the Council has already approved. Sufficient resources are available within the unreserved fund balance in the respective funds or will be made available through grants or increased revenues that will be received this fiscal year to support these recommended appropriations.