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City of San Leandro <br />Meeting Date: June 6, 2016 <br />Staff Report <br />Agenda Section:File Number:16-137 ACTION ITEMS <br />Agenda Number:10.D. <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 City Manager Recommended <br />Amendments to the City of San Leandro Budget for Fiscal Year 2016-17 <br />(amends the General Fund, Special Revenue Funds, Enterprise Funds, <br />Internal Service Funds and Successor Agency Fund budget) <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council review and approve the City Manager recommended <br />amendments to the 2016-17 Budget . <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 and fund <br />reserves. The City Council originally approved the 2016-17 Budget on June 1, 2015. <br />Discussion <br />As a result of the January 30, 2016 City Council Winter Planning Session and Council’s <br />direction communicated in subsequent Council meetings, the City Manager proposes <br />increases to the new fiscal year 2016-17 budget, not originally considered during the biennial <br />budget process. <br />Revenues: <br />The general fund revenue increase is mostly attributed to five revenue sources: <br />·Property tax revenues $1.9 million - assessed property values increased <br />·Sales tax revenues $1.2 million - economy stronger than projected <br />·Utility Users’ tax revenues $1.3 million - electricity and gas rates increased <br />Page 1 City of San Leandro Printed on 6/1/2016