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City of San Leandro <br />Meeting Date: October 6, 2014 <br />Staff Report <br />Agenda Section:File Number:14-423 CONSENT CALENDAR <br />Agenda Number:8.I. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for a Resolution Approving a Budget Amendment to the City’s <br />Fiscal Year 2014-15 General Fund, Special Revenue Funds, Enterprise Funds <br />and Internal Service Funds Budget <br />SUMMARY AND RECOMMENDATION <br />Staff recommends that the City Council review and approve 2014-15 Budget Amendments. <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 current 2014-15 General Fund, Special Revenue Funds, Enterprise <br />Funds, and Internal Service Funds Budget on May 19, 2014. <br />DISCUSSION <br />The attached summary of budget adjustments reflects budget activity recorded by the Finance <br />Department over the first few months of 2014-15 and includes items that were included in the <br />2013-14 adopted budget that will be carried over to 2014-15. The proposed amendment <br />adjustments are summarized including the fund, the sources of additional revenues or <br />transfers, and the purpose of new expenditures or transfers. <br />Fiscal Impact <br />The total change in the projected ending fund balance for the General Fund amounts to <br />$391,603. New General Fund revenues amount to $53,615, leaving about $445,218 in new <br />General Fund expenditures funded by increases in Sales Tax and Property Tax that were <br />Page 1 City of San Leandro Printed on 9/30/2014