AgdaPkt 2006-06-19 - Laserfiche WebLink

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6.2E ,', Page 1 REPORT To the Honorable Mayor and City Council From the City; Manager June 19, 2006 Subject Fiscal Year 2005/2006 Appropriation Revisions Recommendation It is recommended that the City Council approve, by resolution, appropriating and transferring certain funds for specified purposes to conform the budgeted amounts to actual expenditures approved for transactions, which have occurred during fiscal year 2005/2006. Background The following are summaries of recommended changes in appropriations for both revenues and expenditures by fund. A detailed explanation of these revisions is provided in Attachments A (revenue changes) and B (expenditure changes). Council takes many actions throughout the year that change or modify the budget approved at the beginning of each fiscal year. Moreover, grants and other revenues are received that were not anticipated when the budget was prepared. Appropriations need to be established so that staff may spend these grants and revenues. Staff presents the appropriation changes to Council for approval as appropriate, generally twice a year. Summary of Recommended Budget Changes by Fund. Transfers Revenue Expenditures Net Change in Fund Balance $ $ $ $ General Fund (322,000) 25,760 $325,760 (622,000) Self-Insurance Fund 322,000 0 322,000 0 Total Revision 0 25,760 647,760 (622,000) Alternative Should the Council elect not to approve all or any of these recommended adjustments, the consequences will vary depending upon the circumstances 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 concerns a grant then staff will be unable to utilize the grant. In other situations, staff will need to forego the underlying action. S:\Council Staff Reports\Budget\Amendments\FY 05-06 2nd Budget Amendments Staff Report.doc "'-' ~