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<br />REp:'ORT <br /> <br />6-2A <br />Page 1 <br /> <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />March 27,2006 <br /> <br />Subject <br />Fiscal Year 2005/2006 Appropriation Revisions <br /> <br />Recommendation <br />It is recommended that the City Council approve, by resolution, appropriating and <br />transferring certain funds for specified purposes to conform the budgeted amounts to <br />actual expenditures approved for transactions, which have occurred during fiscal year <br />2005/2006. <br /> <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 approved at the beginning of <br />each fiscal year. Moreover, grants and other revenues are received that were not <br />anticipated when the budget was prepared. Appropriations need to be established so that <br />staff may spend these grants and revenues. Staff presents the appropriation changes to <br />Council for approval as appropriate, generally twice a year. <br /> <br />Summary of Recommended Budget Changes by Fund <br /> <br /> Net Change in <br /> Revenues Expenditures Fund Balance <br /> $ $ $ <br />General Fund 576,912 1,356,890 (779,978) <br />Special Revenue Fund 448,364 1,596,488 (1,148,124) <br />Capital Outlay Fund 0 700,000 (700,000) <br />Water Utility Enterprise Fund 24,426,094 24,437,094 (11 ,000) <br />Total Revisions 25.451,370 28,090.472 (2,639,102) <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 staffwì!l be unable <br />to utilize the grant. In other situations, staff wi/! need to forego the underlying action. <br /> <br />S:\Araceli\Budget Amendments\FY 05-06 Budget Amendments Staff Report.doc <br />