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6.F. - Page 1 of 15 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />A,&/ <br />DATE: February 25, 2019 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />FY 2018-2019 Mid -Year Budget Amendments <br />RECOMMENDATION <br />From the City Manager <br />Adopt a resolution appropriating and transferring certain funds for specified purposes to conform the <br />budgeted amounts to actual revenues or expenditures for transactions which have occurred or are <br />anticipated to occur during FY 2018-2019. <br />STRATEGIC INITIATIVE <br />Government Operations <br />BACKGROUND <br />The City Council takes action throughout the fiscal year to modify the City's adopted budget. In addition, <br />staff monitors actual revenues and expenditures throughout the fiscal year, and updates the City's <br />financial projections as appropriate. Staff presents budgetary amendments to the City Council for <br />approval twice a year: once at fiscal mid -year, and once at fiscal year-end. <br />ANALYSIS <br />The following table summarizes recommended changes in budgeted appropriations for revenue, <br />transfers, and expenditures by fund type. A detailed explanation of these revisions is provided in the <br />exhibits to the resolution in Attachment A (Exhibit A — Changes in Revenues and Transfers In, and Exhibit <br />B — Changes in Expenditures and Transfers Out). <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />66 <br />