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<br />;. <br />CIS ®F' ~~~ ~~~~~'.® <br />1VIEMORANDUM <br />DATE: November 13, 2003 <br />TO: Finance Committee <br />FROM: Ed Schilling, Assistant City Manager <br />BY: Mazy Mc Carthy, Accounting Manager <br />SI7BJECT: Recommended Quarterly Adjustments to 2003-04 Budget <br />RECONIlVIENDATION <br />Staff recommends Finance Committee approval of $1,414,199 of quarterly budget adjustments for <br />fiscal year 2003-04 as summarized and detailed in the attached Schedules A, Band C. <br />DISCUSSION <br />$1.0 million of the total amount of recommended adjustments results from the use of <br />Redevelopment Plaza Tax Allocation Bond proceeds for Davis/E. 14th Street Lighting & Pedestrian <br />Enhancement Project. The remaining balances of the recommended adjustments originate in <br />various other City funds including the following: Measure B Fund; Special Grants Fund; Capital <br />Improvements; Environmental Services; Building Maintenance; Equipment Maintenance and the <br />General Fund. <br />The attached Schedule A. FY 2003-04 Budget Adjustments and Use of Fund Balance and Retained <br />Earnings provides a summary of the recommended revenue and expenditure adjustments for fiscal <br />year 2003-04. . <br />The attached Schedule B. Detail of Fiscal Year 2003-04 Expenditure Adjustments and ?7~eir <br />Funding Sources provided detail of the individual expenditure adjustments and their proposed <br />funding sources. <br />The attached Schedule C. Detail of Fund Balance c~ Retained Earnings Funding Sources for the FY <br />2003-04 Quarterly Budget Adjusi7nents provides detail of fund balance and retained earnings <br />funding sources. <br />