MEETING DATE:
SEPTEMBER 23, 2014
SUBJECT:
Title
RESOLUTION NO. 2014-7986 - CARRY-OVER OF FISCAL YEAR 2013-2014 APPROPRIATIONS INTO FISCAL YEAR 2014-2015
Body
Recommendation
Recommendation
Staff recommends the City Council adopt a resolution approving of the carry-over of appropriations as delineated in Exhibit A.
Body
Board or Commission Action
Not Applicable
Relevant Council Strategic Theme
Good Governance
Relevant Department Goal
Not Applicable
Introduction
During Fiscal Year 2013-2014, certain budgeted services, materials, and/or capital equipment purchases were initiated but not completed and/or received by 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 2014-2015 budget development process departments were asked to project out their anticipated expenditures through the end of the fiscal year. Despite these projections for various reasons there were a limited number of 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 2013-2014 appropriations as shown on the attached Exhibit A into Fiscal Year 2014 -2015 is requested so that these projects can be completed and our commitments carried out. Since the departments anticipated expending these funds by the end of last fiscal year, carrying-over the funds will not impact the projected General Fund Fiscal Year 2013-2014 surplus of approximately $1.8 million.
The criteria to qualify for a carry-over is very restrictive. As part of the development of the Fiscal Year 2014-2015 budgets, departments were directed to re-budget for all projects that would not be initiated by June 30, 2014. This was to insure that the Fiscal Year 2014-2015 budget brought forward to the City Council for adoption portrayed as accurate a picture...
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