04-A Budget Transfer Res - Laserfiche WebLink

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AGENDA INFORMATION SHEET PROJECT: Consider a resolution authorizing the transfer of budgetary appropriations from unencumbered appropriation balances to overextended accounts for fiscal year 2000-2001. BACKGROUND: As is customary, the City annually adopts at this time a resolution truing up the City's fiscal year budget before the new fiscal year begins to transfer and appropriate funds from unencumbered balances to overextended accounts. Fiscal year 2000-2001 is no different, and a resolution specifying the necessary financial transfers has been prepared. DESCRIPTION: The enclosed resolution delineates those budgetary accounts which are projected to be deficient in funds and identifies other accounts which show surpluses, and designates the necessary transfers and appropriations to true up the listed accounts. With regard to the specific accounts themselves, most of the changes to the delineated departmental accounts are necessary because of adjustments to the personnel categories of expenditures for the respective departments. These deficiencies were in turn prompted by adjustments to employee salaries which could not have been exactly projected through the fiscal year. As a consequence, most of the departmental accounts which show deficiencies are showing such numbers not in an operational sense, but rather having to do with the final adjustments to the separate departmental payrolls as a result of the cost of living adjustments throughout the fiscal year. The remainder of the deficiencies can be attributed primarily to costs incurred as a result of the severe winter weather. COST: There is no cost implication as a result of the adoption of this resolution; it simply satisfies the formality of completing the balancing process for the City's current fiscal year. RECOMMENDED ACTION: Consider approval of the proposed resolution. STAFF CONTACT: Gene Anderson, Dir. of Finance SCHEDULE: Scheduling of this resolution typically falls at this time of the year for each fiscal year. COUNCIL DATE: Consider for approval at City Council's special meeting of September 17, 2001, when other final budgetary matters are considered. ADDITIONAL MATERIALS: See enclosed resolution.