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<br />6.28 <br />Page 1 <br /> <br />R' E" p.. OR" .T <br />. ~'."., . <br />. ..... . <br /> <br /> <br />'June 16, 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 of <br />these revisions is provided in Attachments A (revenue and transfer changes) and B <br />(expenditure changes). <br /> <br />Summary of Recommended Budget Changes by Fund Type <br /> <br /> , Net Change in <br /> I <br /> Revenues Exoenditures Fund Balance <br /> $ $ $ <br /> , <br />General Fund 516,716 571,971 (55,255) <br />Caoital Proiects Fund 150,000 170,633 (20,633) <br />Enterprise Funds 610,000 106,000 I 504,000 <br />I Total Revisions i <br /> 1,276,716 848,604 428,112 i <br /> <br />ALTERNATIVES <br />