Title
Staff Report for a Resolution Approving a Budget Amendment to the City's Fiscal Year 2016-17 General Fund, Special Revenue Funds, Enterprise Funds, Internal Service Funds, Capital Projects Funds and Agency Funds Budget
Staffreport
SUMMARY AND RECOMMENDATION
Staff recommends that the City Council review and approve the 2016-17 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 originally adopted the 2016-17 Budget on June 6, 2016 and has made various adjustments since that date.
DISCUSSION
Attachments 1 and 2 include a summary and detail of budget adjustments that were made to departmental and fund appropriations over the first six months of 2016-17 and require formal Council approval per Adopted Budget Policies. Additionally, staff identified opportunities to address some priority projects within the current fiscal year, rather than waiting for appropriations in the 2017-18 Budget. Those projects include funding the consultant costs for a Broadband Strategy Update and Fiber Optic Master Plan, supplemental sidewalk cleaning for Downtown San Leandro, and resurfacing and upgrading the Marina Dog Park.
Summaries include information regarding Funding Sources, Revenue and Expenditure Adjustments, and Net Changes in Fund Balance. Detail reports include the same information, but also provide complete descriptions regarding the purpose of the adjustments.
FISCAL IMPACT
The ending fund balance for the General Fund in 2016-17 is projected to decrease by $380,000. This is due to an overall increase of $596,419 in General Fund appropriations, of which is partially offset by expected reimbursements of $216,419 from v...
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