Title
Staff Report for Resolution Approving a Budget Amendment to the City of San Leandro Budget for Fiscal Year 2013-14
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the City Council review and approve 2013-14 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 summary of budget adjustments attached to the resolution reflects budget activity recorded by the Finance Department over the first few months of 2013-14 and includes items that were included in the 2012-13 adopted budget that will be carried over to 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
The total change in the projected expenditures for the General Fund amounts to $485,016 due to 2012-13 carryovers, which are funded by higher than expected revenue, primarily from increased Sales Tax and Property Tax in 2012-13. In addition the city received a $23,000 donation from the Friends of the Library, which offsets an additional expense in the library budget.
New project funding includes $200,000 for Police equipment purchases and $28,000 from Public Education & Government available fund balance for additional project funding. The library received new grant funding in the amount of $53,017. The remaining appropriation increases reflect carryover (see Attachment 2 to the resolution) from various projects not completed in Fisc...
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