HomeMy WebLinkAbout4.3 Budget Modification Article XIII B •
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 27 , 1988
SUBJECT 1987-88 Budget Modifications with regard to Article
XIII B of the State ' s Constitution
EXHIBITS ATTACHED None
RECOMMENDATION • ppropriate 1987-88 unappropriated revenues to each
fund ' s reserve for authorized projects .
FINANCIAL STATEMENT: Appropriations in excess of revenues are estimated at
$4,640,426.
DESCRIPTION • Article XIII B Section 2 of the California
Constitution states in part that "Revenues received by any . . ." City ". . . in
excess of that amount which is apropriated by such entity . . ." ". . . shall be
returned . . ."
The City of Dublin' s budget documents show that $13,701,370 of revenues are
estimated for 1987-88 from the following sources:
General Funds $ 8,985,760
Special Revenue Funds 2,278,246
Special Assessment Funds 358,222
Capital Improvement Fund 551,400
Dublin Information, Inc. 1 ,527 ,742
Total $13,701,370
The amount currently appropriated in the funds equals $18,341 ,796 in the
following funds :
General Funds $ 6 ,917 ,892
Special Revenue Funds 518,436
Special Assessment Funds 206,922
Capital improvement Funds 5,013,720
Dublin Information, Inc. 5 ,684,826
Total $18,341 ,796
Based upon these estimates , the revenues for 1987-88 are expected to be less
than the appropriations by $4,640,426 . This is possible because the
reserves in the CIP Funds , as well as Dublin Information, Inc. , will be used
during the year.
In some specific funds , however, the estimated revenues exceed the amount
appropriated. For example, in the General Fund, revenues are expected to
exceed appropriations by $2 ,067 ,868.
To comply with Article XIII B, and because the figures above are only
estimates ( the actual amounts will only be known at year end) , Staff
recommends that the City Council appropriate all/any revenues in each
respective fund that exceeds the current amount appropriated. By doing so,
the Council acknowledges that said appropriation of excess revenues is a
setting aside of the money for various projects that require more than one .
year to accomplish.
COPIES TO:
ITEM NO. 4511: ,'