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7.3.F. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> June 23, 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 the Resolution's Exhibit A — Changes in Revenues and Exhibit B — Changes <br /> in Expenditures. In accordance with the City Council's direction at the June 9th budget <br /> session, the proposed budget amendments include a $6 million transfer out of the <br /> General Fund into the Self Insurance Internal Services Fund to cover increased <br /> workers' compensation liabilities, and to bring the fund balance close to the 85% <br /> confidence level. <br />