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<br />7A <br />Page 2 <br /> <br />ALTERNATIVES <br />Should the Council elect not to approve all or any of these recommended adjustments, <br />the amount of the estimated general fund deficit for FY 2009/10 will increase, thereby <br />further decreasing the general fund operating reserve at June 30, 2010. The Council <br />could also choose to approve additional reductions as presented in Packages 2, 3, and <br />4 at the City Council meeting of October 19, 2009. Further reductions will decrease the <br />amount funded by the general fund operating reserve for FY 2009/10. <br /> <br />FISCAL IMPACT <br /> <br />Adoption of the proposed budget amendment resolution will result in a citywide <br />reduction in expenditures of $619,884. About $44,540 of the general fund expenditure <br />reductions are due to Community Development Services reducing the number of hours <br />purchased from the Information Technology Division of Finance. This translates into a <br />concomitant reduction of revenues that will be received in FY 2009-10 in the City's <br />internal service fund (the fund used to account for internal service activities such as <br />Information Technology). <br /> <br />~~~ <br />Alison Freeman <br />Financial Services Manager <br /> <br />r jfvv <br /> <br />Brian Ponty <br />Director of Finance <br /> <br />Peler Ingra~ / <br />City Manager <br /> <br />ATTACHMENTS <br />1. Resolution <br />2. Changes in Revenues <br />3. Changes in Expenditures <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />