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File Number: <br />TO: <br />FROM: <br />BY: <br />i[MOxI: <br />City Council <br />Chris Zapata <br />City Manager <br />David Baum <br />City of San Leandro <br />Meeting Date: February 18, 2014 <br />Finance Director <br />FINANCE REVIEW: David Baum <br />Finance Director <br />Staff Report <br />Agenda Section: CONSENT CALENDAR <br />Agenda Number: 8.C. <br />TITLE: Staff Report for Resolution Approving the Year -End 2012-13 Budget <br />Amendment <br />SUMMARY AND RECOMMENDATION <br />Staff recommends that the City Council review and approve the Year -End 2012-13 Budget <br />Amendment. <br />BACKGROUND <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 budget appropriations. As <br />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 2012-13 General Fund, Special Revenue Funds, Enterprise Funds, and <br />Internal Service Funds Budget on June 4, 2012. <br />DISCUSSION <br />The year-end 2012-13 financial update through June 30, 2013 for the General Fund, Special <br />Revenue Funds, and Enterprise and Internal Service Funds was provided to the City Council <br />on October 21, 2013. The attached summary of budget adjustments reflects budget activity <br />recorded by the Finance Department over the last six months of 2012-13. The proposed <br />amendment adjustments are summarized including the fund, the sources of additional <br />revenues or transfers, and the purpose of new expenditures or transfers. <br />The total reduction in the projected ending fund balance for the General Fund amounts to <br />$488,464. New General Fund revenues amount to $51,443, leaving about $488,464 in new <br />General Fund expenditures that will be funded by revenue increases in Sales Tax and <br />Property Transfer Tax over the estimates for Fiscal Year 2012-13. <br />City of San Leandro Page 1 Printed on 211212014 <br />