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7.3.A. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> February 24, 2014 <br /> SUBJECT <br /> Fiscal Year 2013/2014 Appropriation Revisions <br /> RECOMMENDATION <br /> Approve, by resolution, appropriation and transfer of certain funds for specified <br /> purposes to conform the budgeted amounts to actual expenditures approved for <br /> transactions, which have occurred during fiscal year 2013-14. <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. <br /> ANALYSIS <br /> Staff presents appropriation changes to Council for approval generally twice a year. <br /> The following table summarizes recommended changes in appropriations for revenue, <br /> transfers and expenditures by fund. A detailed explanation of these revisions is <br /> provided in Exhibit A— Changes in Revenues and Exhibit B — Changes in Expenditures. <br /> Summary of Recommended Budget Changes by Fund Type <br /> REVENUES EXPENDITURES NET CHANGE IN <br /> FUND BALANCE <br /> GENERAL FUND 1,267,087 3,031,182 (1,764,095) <br /> SPECIAL REVENUE 5,366,029 5,891,249 (525,220) <br /> FUNDS <br /> CAPITAL PROJECTS 2,328,000 3,270,926 (942,926) <br /> FUNDS <br /> DEBT SERVICE FUNDS (611,594) (611,594) -0- <br />