HomeMy WebLinkAboutItem 4.02 Budget Modifications 1990-91 (2) CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 24, 1991
SUBJECT: 1990-91 Budget Modifications with regard to
Article XIII B of the State's Constitution.
EXHIBITS ATTACHED: None
RECOMMENDATIONS: Expropriate 1990-91 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 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 financial information, total appropriations exceed
total revenues in 90-91. This is possible for example because the reserves in
the General Fund, as well as the Internal Service Fund, will be used during the
year.
In some specific funds, however, the estimated revenues may now exceed the
original 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 FUND $13,905,946.00 $16,186,066.00 ($2,280,120.00)
SP REVENUE FUNDS $3,436,399.00 $4,165,636.00 ($729,237.00)
SP ASSESSMENT FUNDS $431,135.00 $407,559.00 $23,576.00
CIP FUNDS $420,565.00 $418,565.00 $2,000.00
ENTERPRISE FUNDS $1,841,487.00 $1,769,972.00 $71,515.00
INTERNAL SERVICE FUND $162,576.00 $223,855.00 ($61,279.00)
TOTAL $20,198,108.00 $23,171,653.00 ($2,973,545.00)
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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