HomeMy WebLinkAboutItem 4.3 Appropriate Revenue to Reserves ,
38)13A
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 25, 1990
SUBJECT: 1989-90 Budget Modifications with regard to
Article XIII B of the State's Constitution.
EXHIBITS ATTACHED: None
RECOMMENDATION • „appropriate 1989-90 unappropriated revenues to
' each fund's reserves for authorized projects:
(prepared by Phillip S. Molina)
FINANCIAL STATEMENT:None
DESCRIPTION: Article XIII B Section 2 of the California Constitution states in
part the "Revenues received by any. . .City. . .in excess of that amount which is
appropriated by such entity. . .shall be returned. .. ."
Based upon the most recent financial information, total appropriations exceed
total revenues in 89-90. 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 revenue is
received.
budgeted
revenues expenditures difference
GENERAL FUNDS $12,919,340,00 $14,272,453.00 ($1,353,113.00)
SP REVENUE FUNDS $2,455,296.00 $2,343,288.00 $112,008.00
SP ASSESSMENT FUNDS $469,181.00 $461,088.00 $8,093.00
CIP FUNDS $260,152.00 $327,373.00 ($67,221.00)
ENTERPRISE FUNDS $1,437,320.00 $2,775,262.00 ($1,337,942.00)
INTERNAL SERVICE FUND $156,573.00 . $222,000.00 ($65,427.00)
TOTAL $17,697,862.00 $20,401,464.00 ($2,703,602.00)
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 complete.
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