HomeMy WebLinkAboutItem 7.6 1983-84 Budget Modifications 530
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 25 , 1984
SUBJECT 1983-84 Budget Modifications
EXHIBITS ATTACHED None.
i .
RECOMMENDATION : 1 ) Appropriate excess revenues in General and Gas Tax
funds to Street Improvement Reserve
2 ) Appropriate excess revenues in Revenue Sharing and
Capital Project funds to Reserve for Authorized
Projects
FINANCIAL STATEMENT: Revenues in excess of appropriations estimated at
$2 , 379 , 000
DESCRIPTION Article XIII . B . Section 2 of the State Constitution
states that " revenues received by an entity of government in excess of that
amount which is appropriated by such entity in compliance with this Article
during the fiscal year shall be returned by a revision of tax rates or fee
schedules within the next two subsequent fiscal years" .
Fiscal Year 1983-84 revenues are estimated to be in excess of 1983-84
appropriations by approximately $2 , 379 , 000 . This figure is an estimate only
and could vary at the time that the City ' s accounting ledgers are closed at
the end of Fiscal Year 1983-84 . It is therefore Staff ' s recommendation that
the City Council appropriate those funds remaining at the end of Fiscal Year
1983-84 in the General Fund and Gas Tax Fund to the Street Improvement
Reserve; and those funds remaining in the Revenue Sharing Fund and Capital
Projects to the Reserve for Authorized Projects . This- action will enable
the City to continue to undertake those projects identified in the City ' s
Five-Year Capital Improvement Program.
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