Title
Staff Report for the Resolution Approving the 2013-14 Year-End Budget Amendments
Staffreport
SUMMARY AND RECOMMENDATION
Staff recommends that the City Council review and approve 2013-14 Year-End Budget Amendments.
BACKGROUND
The City Council approves annual budgets based on the best revenue and expenditure information available several months prior to the actual adoption of budget appropriations. As a result, budget adjustments are periodically necessary for changes that arise and require additional budget appropriations or re-appropriations between budget line items. The City Council approved the current 2013-14 General Fund, Special Revenue Funds, Enterprise Funds, and Internal Service Funds Budget on June 3, 2013.
DISCUSSION
The attached summary of budget adjustments reflects budget activity recorded by the Finance Department over the last few months of 2013-14. The proposed amendment adjustments are summarized including the fund, the sources of additional revenues or transfers, and the purpose of new expenditures or transfers.
Fiscal Impacts
New General Fund revenues amount to $35,831, leaving about $90,779 in new General Fund expenditures that are funded by General Fund reserves. $60,000 represents the contract for the State Legislative Advocacy Services.
New project funding includes $25,000 received from the San Leandro Unified School District for repairs at the San Leandro Ball Park and donations to various programs in the Recreation Department and the Library.
Expenditures in the Special Grants Fund are reduced by $350,000 because the Metropolitan Transportation Commission grant, awarded in December 2011, was not received. The Safe Routes to Transit project is expected to be funded by the Measure B fund.
ATTACHMENTS
Attachments to Resolution
· Year-End Adjustments by Fund
· Year-End Adjustments Detail
PREPARED BY: David Baum, Finance Department