MEETING DATE:
FEBRUARY 14, 2017
SUBJECT:
Title
RESOLUTION NO. 2017-8304 - RECEIVE THE FISCAL YEAR 2016-17 MID-YEAR BUDGET AMENDMENTS AND ADOPT A RESOLUTION AMENDING THE FISCAL YEAR 2016-17 OPERATIONS & MAINTENANCE AND CAPITAL IMPROVEMENTS PROJECTS BUDGET
Body
Recommendation
Recommendation
ADOPT a resolution amending the Fiscal Year 2016-17 Operations & Maintenance Budget and Capital Improvement Project Budgets.
Body
Board or Commission Action
Not applicable
Relevant Council Strategic Theme
Good Governance
Relevant Department Goal
Not applicable
Introduction
The City Council adopted the Fiscal Year 2016-17 Budget at its June 14, 2016 meeting. At that time, a balanced budget was presented thus laying the framework for maintaining necessary levels of service to the residents of San Marcos. To date, the City's revenue projections appears to be on target. Generally, normal expenditures are occurring at the expected pace. There have, however, been expenditures that have occurred or are expected to occur that were unknown at the time of budget. Therefore, staff is submitting mid-year budget amendments for City Council review and approval.
Discussion
The purpose of the Fiscal Year 2016-17 Mid-Year Budget Amendments is to amend the base budget as adopted by the City Council for items unanticipated or unknown at the time of budget. The budgetary legal level of control resides at the departmental level (e.g. Public Safety, Public Works, Community Services, etc.). That is to say, a given department has the operational flexibility to reallocate appropriations within specified budgeted line-items, but cannot exceed the overall appropriation level as approved by the City Council.
At this time, staff has identified additional expenditures that would exceed the overall appropriation level originally approved by the City Council.
Attached as Exhibit A for the City Council's review are the mid-year budget amendments classified by fund and expenditure type...
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