AgdaPkt 2005-06-20 - Laserfiche WebLink

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6"". 4A - / REPORT To the Honorable Mayor and City Council From the City Manager June 20.2005 Subject Fiscal Year 2004/2005 Appropriation Revisions Recommendation It is recommended that the City Council introduce an ordinance by the affirmative vote of five-sevenths (5/7ths) of all council members appropriating and transferring certain funds for specified purposes in order to conform the budgeted amounts to actual expenditures approved for transactions, which have occurred during fiscal year 2004/2005. Background The following are summaries of recommended changes in appropriations for both revenues and expenditures by fund. A detailed explanation of these revisions is provided in Attachments A (revenue changes) and B(expenditure changes). CouDci! takes many actions throughout the year that change or modify the budget. Moreover, grants and other revenues are received that were not anticipated when the budget was prepared. Appropriations need to be established so that staff may spend these grants and revenues. Staff holds these changes and periodically presents the appropriation changes to Council for approval. Summary of Recommended Budget Changes by Fund Net Change in Revenues Expenditures Fund Balance $ $ $ General Fund 408,000 463,046 (55,046) Special Revenue Fund 9,000 9,000 (0) Water Utility Enterprise Fund 0 42,390 (42,390) Capital Outlay Fund 0 19,945 (19,945) Total Revisions 417,000 534,381 (117,381) Alternative Should the Council elect not to approve all or any of these recommended adjustments, the consequences will vary depending upon the circumstances surrounding each specific line item. If Council has previously approved an item in concept then an expenditure or commitment may have already been made and the program or project budget will then be over-expended. If the recommended adjustment concerns a grantthen staff will be unable to utilize the grant. In other situations, staff will need to forego the underlying action.