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REQUIRED SUPPLEMENTARY INFO�.MATION <br /> NOTE 1 —BUDGETS AND BUDGETARY ACCOUNTING <br /> Formal budgetary integration is employed as a management control device during the year for the general <br /> fund, special revenue funds, debt service funds, and capital projects funds. <br /> Budgets are adopted on a basis consistent with generally accepted accounting principles (GAAP) for the <br /> general, special revenue, and debt service funds. Capital projects funds' budgets are adopted on a project <br /> length basis and are not presented here. <br /> The City Manager submits a recommended operating budget in May each year to the City Council for the <br /> fiscal year commencing the following July 1, showing proposed expenditures by programs and the means <br /> of financing them. <br /> The City Council conducts budget study sessions, which are open for public comment, before adopting <br /> the budget. Once the budget is adopted, expenditures may not legally exceed appropriations at program <br /> level except when the excess is attributable to a particular activity for which the City has been <br /> reimbursed. This is especially apparent in the Community Development Program where developers <br /> reimburse the City through sub-division fees and environmental impact report fees. <br /> At the request of the department head through the City Manager, the City Council may, by resolution, <br /> transfer appropriations between sub-programs and funds, but shall not change total appropriations. Any <br /> increase or decrease to the total appropriations provided for in the budget must be carried through by <br /> resolution passed by the City Council. The City Manager may authorize the transfer of funds between <br /> object categories within a sub-program of a department. The adoption and administration of the Port of <br /> Redwood City budget, unless property tax revenues are requested, is exclusively under the control of the <br /> Board of Port Commissioners. <br /> Budgeted amounts are as originally adopted, or as amended by the City Council during the fiscal year. <br /> Individual amendments were not material in relation to the original appropriations. <br /> All unexpended appropriations lapse at the end of the fiscal year. Appropriations for capital projects or <br /> appropriations that are encumbered are re-appropriated and carried over in the following year's budget. <br /> 61 <br />