HomeMy WebLinkAbout4.05 Budget Modifications Unappropriated Reserves CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: JUNE 22,1992
SUBJECT :1991-1992 Budget Modifications with regard to
article XIII B of the State's Constitution.
EXHIBITS ATTACHED : None
RECOMMENDATIONS :Appropriate 1991-1992 unappropriated revenue to
each respective fund's reserves for authorized
%{l� projects: (report prepared by Phillip S. Molina)
FINANCIAL STATEMENT: None; this action simply provides that any
revenues received in excess of the budget are
appropriated to the respective fund balance.
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 revenues exceed
total appropriations in 91-92. This is possible for example because of the
sale of bonds for the Dublin Boulevard Extension Assessment District, which will
not be spent entirely during this fiscal year.
In some specific funds 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.
Revised
Estimated Budgeted
Revenues Expenditures Difference
General Fund 13,016,325.00 14,610,513.00 (1,594,188.00)
Sp Revenue Funds 2,674,745.00 5,010,464.00 (2,335,719.00)
Sp Assessment Funds(1) 2,646,573.00 1,936,743.00 709,830.00
CIP Funds 293,223.00 773,442.00 (480,219.00)
Enterprise Funds 1,720,670.00 1,774,866.00 (54,196.00)
Internal Service Fund 162,995.00 177,769.00 (14,774.00)
Total 20,514,531.00 24,283,797.00 (3,769,266.00)
(1) Includes the net cash received from the sales of bonds on June 16, 1992.
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.
COPIES TO:
ITEM NO. 4. CITY CLERK
FILE I 131310 210