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File Number: 13-052 <br />Public Education & Government Access Fund are provided . <br />Special Revenue Funds <br />·Parking Fund - Revenues at mid-year are at 36% of budget due to the construction of <br />the parking garage which opened in November 2012. Budgeted revenues had <br />projected an opening of the Downtown Garage in September 2012. <br />·Gas Tax Fund - Revenues at mid-year are at 43% of budget due to a delay in the <br />receipt of funds from the State in 2012-13. <br />·Heron Bay - Revenues are at 84% of budget due to the accrual of assessments into <br />the first half of the year that represent nearly the entire year of assessments. Last year, <br />the assessments were recorded after the mid-year. <br />Budget Adjustments <br />The attached summary of budget adjustments reflects budget activity recorded by the Finance <br />Department over the first six months of 2012-13. The proposed amendment adjustments are <br />summarized including the fund, the sources of additional revenues or transfers, and the <br />purpose of new expenditures or transfers. <br />The total change in the projected ending fund balance for the General Fund amounts to <br />$680,081. New General Fund revenues are estimated to be $61,405, leaving $618,676 in <br />unfunded new General Fund expenditures. <br />Capital Improvement projects that were carried over from FY 2011 -12 are funded by existing <br />revenues and are included in various Special Revenue and Capital Project Funds (see <br />Attachment 1). All of the Special Grant Fund projects ($8,624,256) in the budget amendment <br />are funded by newly approved grants ($163,497) and previously approved grant funds <br />($8,460,759). <br />Current Agency Policies <br />·The City Council approves all adjustments to the City’s revenue and expenditure <br />appropriations. <br />Previous Actions <br />·The City Council adopted the 2012-13 City Budget on June 4, 2012. In the past, <br />Mid-Year Financials were presented for review and approval to the Finance Committee . <br />However, the Finance Committee has been suspended for the calendar year 2013 <br />Fiscal Impacts <br />The total change in the projected ending fund balance for the General Fund amounts to <br />$640,081. New General Fund revenues amount to $61,405, leaving $578,676 in unfunded <br />new General Fund expenditures. <br />Capital Improvement projects that were carried over from FY 2011 -12 are funded by existing <br />revenues and are included in various Special Revenue and Capital Project Funds (see <br />Attachment 1). All of the Special Grant Fund projects ($8,624,256) in the budget amendment <br />are funded by newly approved grants ($163,497) and previously approved grant funds <br />Page 4 City of San Leandro Printed on 2/12/2013