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October 19, 1999 'o el 9
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STAFF REPORT
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TO: Mayor Yost and Members of e ity Council
ATTN: Keith Till, City Manager
FROM: Pamela Arends-King, Acting Director of Administrative Services
SUBJECT: 1998/1999 FINAL BUDGET AMENDMENTS
SUMMARY OF REQUEST:
City Council to approve a Resolution authorizing final budget amendments for the 1998/1999
fiscal year.
DISCUSSION:
We have completed the fiscal year 1998/99 closing. The proposed budget amendment adjusts
funds so that departmental expenditures at variance from the 1998/99 budget are appropriately
recorded.
The largest adjustment is the Tax Revenue Anticipation Note Repayment Fund. Lance, Soll and
Lunghard is recommending this adjustment because all TRAN proceeds are being invested in a
Guaranteed Investment Contract and cash is being held by a fiscal agent. The adjustment for the
Main Street Beautification Project (parking lot reconstruction) in the Parking in Lieu fund was
not budgeted for 1998/99 but is the appropriate designation for this restricted fund. The Local
• Law Enforcement Block Grant was not budgeted for the 1998/99 fiscal year, as funding was
uncertain at the time the budget was adopted. The Special Assessment Fund adjustment is
necessary to transfer remaining construction dollars to the Bond Redemption Fund as instructed
by the bond indenture and can only be used to call additional bonds. Recreation Fund increase in
expenditures was offset by revenues. Increase in salaries for the Police Field Services
department and the Building and Safety department is due to pay-off of compensated absences
such as vacation and comp time according to the MOU guidelines and is off-set in the reserve in
fund balance for compensated absences. Increase in salaries for the City Managers department is
due to pay-off of compensated absences according to MOU guidelines and the renegotiated
contract for compensation for the City Manager,because a wage adjustment for the City Manager
in November 1998 was not presumed at budget time. The City Manager's department adjustment
for Travel/Meeting/Mileage is due to the purchase of airline tickets for meetings City Council
members attended and the employee breakfasts' held. General Fund revenues for fiscal year
1998/99 exceeded budgeted figures by three percent, therefore the adjustments for the 1998/99
budget did not effect the City's economic goals for that fund. All other departmental adjustments
are being amended to account for emergency purchases, and special projects, that arose after
budget adoption.
FISCAL IMPACT:
There is no fiscal impact. This is a budgetary alignment only.
Agenda Item /V