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File Number: 14-016 <br />City of San Leandro <br />Meeting Date: February 18, 2014 <br />Staff Report <br />Agenda Section: ACTION ITEMS <br />Agenda Number: 10.A. <br />TO: <br />City Council <br />FROM: <br />Chris Zapata <br />City Manager <br />BY: <br />David Baum <br />Finance Director <br />FINANCE REVIEW: David Baum <br />Finance Director <br />TITLE: <br />Staff Report for the Mid -Year Financial Report as of December 31, 2013 and a <br />Resolution Approving a Budget Amendment Reflecting Mid -Year Adjustments <br />to the City's Fiscal Year 2013-14 General Fund, Special Revenue Funds, <br />Enterprise Funds and Internal Service Funds Budget <br />-ill6161-,1Will _1�197:7xd*]iyiIJ,1=1►U7_�11 Is] LI <br />Staff recommends that the City Council review and accept the Mid -Year Financial Report as of <br />December 31, 2013, and adopt a resolution approving a Budget Amendment Reflecting <br />Mid -Year Adjustments for the 2013-14 General Fund, Special Revenue Funds, Enterprise <br />Funds, and Internal Service Funds Budget. <br />BACKGROUND <br />The City Council -approved 2013-14 General Fund, Special Revenue Funds, and Enterprise <br />Funds Budget in the annual plan and resource allocation guides and ensures implementation <br />of City Council policies and priorities. The budget implements the vision and direction for the <br />broad range of services that meet the needs of the community in accordance with City Council <br />policy. This financial review as of December 31, 2013 provides the mid -year budget update to <br />the City Council for the new fiscal year. Analysis of the revenues collected and all <br />expenditures through December 31, 2013 measures the budget's adherence to the <br />established resource allocation plan. <br />The City Council approves annual budgets based on the best revenue and expenditure <br />information available several months prior to the actual adoption of the budget appropriations. <br />As a result, budget adjustments are periodically necessary for changes that arise and require <br />additional budget appropriations or re -appropriations between budget line items. The City <br />Council approved the current 2013-14 General Fund, Special Revenue Funds, Enterprise <br />Funds, and Internal Service Funds Budget on June 3, 2013. <br />City of San Leandro Page 1 Printed on 211212014 <br />