MEETING DATE:
SEPTEMBER 25, 2018
SUBJECT:
Title
RESOLUTION NO. 2018-8547 - CARRY-OVER OF FISCAL YEAR 2017-2018 APPROPRIATIONS INTO FISCAL YEAR 2018-2019
Body
Recommendation
Recommendation
ADOPT a resolution approving the carry-over of appropriations from Fiscal Year 2017-2018 to Fiscal Year 2018-2019.
Body
Board or Commission Action
Not applicable
Relevant Council Strategic Theme
Good Governance
Relevant Department Goal
Not applicable
Executive Summary
During Fiscal year 2017-2018, certain budgeted services, materials, and/or capital equipment purchases were initiated but not completed and/or received by fiscal year end. In order for the City to complete these commitments it is necessary to carry over budgeted funds from one fiscal year to the next.
Discussion
As part of the Fiscal Year 2018-2019 budget development process, departments were asked to project their anticipated expenditures through Fiscal Year 2017-2018. Despite these projections, for various reasons, there were cases where budgeted services, materials, and/or capital equipment purchases were initiated but not completed and/or received by year end.
The carry-over of Fiscal Year 2017-2018 appropriations as shown in the attached Exhibit A into Fiscal Year 2018-2019 is requested so that these transactions can be completed and commitments fulfilled. Since the departments anticipated expending these funds by the end of last fiscal year, carrying-over funds will not impact the projected General Fund Fiscal Year 2017-2018 surplus as reflected in the budget.
Environmental Review
Not applicable.
Fiscal Impact
Staff has determined that sufficient Fiscal Year 2017-2018 committed budgeted funds exist to allow for the approval of the attached carryover of Fiscal Year 2017-2018 appropriations as shown in the Attached Exhibit A into Fiscal Year 2018-2019; $446,789.00 General Fund and $103,750.00 Non-General Fund. These carry-overs do not affect the projected year end balances as shown in the adopted budget as they were already assumed to be expended.
Attachments
Resolution 2018-XXXX
Exhibit A
Prepared by: Alan Stutler, Budget & Revenue Officer
Reviewed by: Merce LeClair, Contracts, Grants and Procurement Manager
Submitted by: Laura Rocha, Finance Director
Approved by: Jack Griffin, City Manager