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<br />REDEVELOPMENT AGENCY OF SAN LEANDRO <br /> <br />SUPPLEMENT ARY INFORMATION <br />FOR THE YEAR ENDED JUNE 30, 2006 <br />- - <br /> <br />1 BUDGETARY INFORMATION <br /> <br />Budgets and Budgetary Accounting <br /> <br />The Agency adopts a budgct annually to be etlcctive July I for the ensuing fiscal year. Budgeted <br />cxpenditures arc adopted through the passage of a resolution. This resolution constitutes the maximum <br />authorized expenditures for the fiscal year and cannot legally be exceeded except by subsequent <br />amendments of the budget by the Agency Board. <br /> <br />An operating budget is adopted each fiscal year for the Dcbt Service Fund. Public hearings are conducted <br />on the proposed budgets to review all appropriations and sources of financing. Capital projects are <br />budgeted by the Agency Board over the term of the individual projects. Since capital projects arc not <br />budgeted on an annual basis, they are not included in the budgetary data. <br /> <br />Expenditurcs are controlled at the fund level for all budgeted departments within the Agency. This is the <br />level at which expenditures may not legally excccd appropriations. Budgeted amounts for the Combined <br />Statement Revenues, Expenditures and Other Financing Sources (Uses) - Budget and Actual include <br />budget amendments approved by the Agency Board. <br /> <br />The budgets are adopted on a basis substantially consistent with generally accepted accounting principles <br />(GMP). <br /> <br />Any amendments or transfers of appropriations between object group levels within the same department <br />must be authorized by the City Manager- Any amendments to the totalleve1 of appropriations for a fund or <br />transfers betwcen funds must be approved by the Agency Board. Supplemental appropriations financed by <br />unanticipated revenues during the year must be approved by the Agency Board. <br /> <br />33 <br />