HomeMy WebLinkAboutItem 4.04 BudgetModification (2)
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: JUDe 27,1995
SUBJECT: 1994-1995 Budget Modifteatioll with Regard to Artide XUI B
of the State Constitution
~ by: Paul S. Rankin, Assistant City Manager)
EXHIBITS ATTACHED: None
RECOMMENDATION~uthorize Stlffte appropriate any ~ Ia exceo of~
. Expenditures JIB of JUlle 30, 1995, to Reserves.
FINANCIAL STATEMENT:
This report and action will simply provide .an appropriation el all
revenues reeeived~in excess of expeaditllres to Reserves. Aetwal
amounts will be identified after the books an dosed and allueruals
have been made.
DESCRIPTION: This report requests authorization reran revenues reetived ill...
of expenditures to be appropriated. The adual amoullu involved will be tteteruained at tile ...... of the
Fiscal Year.
. Each year the City CouncD takes this action to protect the ability to utilize these reserves ia__y~
without the possibility of exceeding the State mandated Appropriatiou Limit. The Statee.~.
limits the amount of annual appropriations, which are made from the "Proeeed$ of Taxes." TBeCIty it
currently well below the maximum Appropriations Limit. The methodology for a~g fot'
appropriations, which will be subject to the Limit, excludes fuads which..y have been ,appttpl'ialed to
reserves in a prior Fiscal Year. When the Reserve Fuads are ..entually used, they would D.tbe JIlbjeet
to the Appropriations Limit in the year that they were used, since they had been previouly
"appropriated" under the limit authorized. ia a prior year.
The specific action requested in this report is for the City Council to authorize the appropriatlen of all
excess revenues to Reserves. This will predude the aeed for the City ~oundl to take any furtlaeraetio.1;
account for differeaces between the estimates and the actual final fiscal Year 1994195........11J1d
expenditures~ In taking this action, the City Counell acknowledges dtat the .ppropria_ of.cess
revenues is a setting aside of the funds for various projects or expenses that require mote tbB. .uy...
to complete. The actual use of these funds will be subject to a future CityCounell adioB.".,riatiltg
the funds to a specific project. (
Staff recommends that the City Counell authorize the appropriatioa of allY or all exeessreveDuesto
reserves in conformance with this report.
g;tinancelogendalagstbudg.doc
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ITEMNo.-4.4
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