HomeMy WebLinkAbout4.02 Budget Modifications 1988-89 CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 26, 1989
SUBJECT 1988-89 Budget Modifications with regard to
Article XIII B of the State' s Constitution
EXHIBITS ,ATTACHED None
RECOMMENDATION \, (1 Appropriate 1988-89 unappropriated revenues
to each fund' s reserve for authorized projects .
(Prepared by Finance)
FINANCIAL STATEMENT: None
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 appropriated by such entity
. . . shall be returned . . . . "
Based upon the most recent estimates, total appropriations will
exceed total revenues in 88-89 . This is possible because the
reserves in the General Fund, as well as Dublin Information,
Inc. , will be used during the year.
In some specific funds, however, the estimated revenues exceed
the amount appropriated. This may occur in part due to timing
differences between the period that an expenditure is booked and
the period that the revenues are. received.
To comply with Article XIII B, 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.
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