Laserfiche WebLink
<br />REPORT <br /> <br />70 <br />Page 1 <br /> <br />To the Honorable Mayor and City Council <br />_ Froltl th~ CL M~na ~r <br /> <br />March 10, 2008 <br /> <br />SUBJECT <br />Fiscal Year 2007/2008 Appropriation Revisions <br /> <br />RECOMMENDATION <br />Approve by resolution, appropriating and transferring certain funds for specified <br />purposes to conform the budgeted amounts to actual expenditures approved for <br />transactions, which have occurred during fiscal year 2007/2008. <br /> <br />BACKGROUND <br />Council takes many actions throughout the year that change or modify the budget <br />approved at the beginning of each fiscal year. Moreover, grants and other revenues <br />may be received that were not anticipated when the budget was prepared. <br />Appropriations need to be established so that staff may spend these grants and <br />revenues. Staff presents appropriation changes to Council for approval as appropriate, <br />generally twice a year. The following are summaries of recommended changes in <br />appropriation for revenue, transfers, and expenditures by fund. A detailed explanation <br />of these revisions is provided in Attachments A (revenue and transfer changes) and B <br />(expenditure changes). <br /> <br />Summary o~ Recommended Budget Changes by Fund Type <br /> <br /> Net Change in <br /> Revenues Expenditures Fund Balance <br /> $ $ $ <br />General Fund 776,901 1,207,363 (430,462) <br /> I (42,612) <br />Special Revenue Fund 65,769 108,381 <br />Internal Service Fund 6,575 (6,575) <br />Capital Proiects Fund 52,165 354,027 (301,862) <br />Enterprise Funds 1,451,156 . (1,451,156) <br />Total Revisions 894,835 3,127,502 (2.232,667) , <br /> <br />For recommended FY 2007/08 appropriation revisions for the Redevelopment Agency <br />budgets, please refer to companion staff report dated March 10, 2008. <br />