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741-el <br />REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />July 14, 2003 <br />Subject <br />Fiscal Year 2002/2003 Appropriations Revisions <br />Recommendation <br />It is recommended that the City Council introduce an ordinance appropriating and <br />transferring certain funds for specified purposes in order to conform budgeted amounts to <br />actual expenditures approved for transactions, which occurred during fiscal year <br />2002/2003. <br />Background <br />The following are summaries of the recommended by fund. A detailed explanation of these <br />revisions is provided in Attachment A. Council takes many actions throughout the year that <br />change or modify the budget. Staff holds these changes and periodically presents the <br />appropriation changes to Council for approval. <br />Summary of Recommended Budget Changes by Fund <br />General Fund $ 52,929 <br />Federal Law Enforcement 6,159 <br />Grant Fund <br />Total Revisions $Q$ <br />Alternative <br />Should the Council elect not to approve all or any of these recommended adjustments, the <br />consequences will vary depending upon the circumstances surrounding each specific line <br />item. If Council has previously approved an item in concept, then an expenditure or <br />commitment may have already been made and the program or project budget will then be <br />over - expended. <br />Fiscal Impact <br />These revisions are necessary to transfer or formally appropriate funds to implement many <br />projects and issues that the Council has already approved. Sufficient resources are <br />available within the unreserved fund balance in the respective funds or will be made <br />available through grants or increased revenues that will be received this fiscal year to <br />support these recommended appropriations. <br />