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~1nC:DF SAN BERNARDI~ - REQUEOT FOR COUNCIL AC:JON
From: WARREN A. KNUDSON, DIRECTOR
Dept: FINANCE
Date: MARCH 14, 1985
Subject: MID- YEAR BUDGET ADJUSTMENTS
Synopsis of Previous Council action:
Adoption of 1984-85 Budget
Mid-year Budget review on March 9, 1985.
Recommended motion:
That the 1984-85 Budget be modi fied per the Fi nance Di rector's
Staff Report of March 14, 1985.
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. Signature
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Contact person:
Warren Knudson
Phone:
5242
N/A
Supporting data attached: Yes
Ward:
FUNDING REQUIREMENTS:
Amount: $1,000,000
Source: See Staff Report
Finance: ~)O-.- Q .~
Council Notes:
75-0262
Agenda Item No,
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ClyPOF SAN BERNARDIIQ - REQUQy FOR COUNCIL ACQON
STAFF REPORT
On March 9, 1985, the Mayor and Common Council met to consider the Mid-Year
Budget Review. As a result of increased General Fund revenues, the Council
directed that $1,000,000 be allocated to a Street Resurfacing account to be
used as designated by the Mayor and Common Council.
The following budget modifications are necessary to implement the March 9
Council action:
GENERAL FUND REVENUE ADJUSTMENTS:
1. Increase Sales Tax Estimate
2. Increase Utility Tax Estimate
3. Increase Building & Mechanical Permit Estimate
4. Increase Pl an Check Estimates
5. Increase Water Fund Contribution Estimate
6. Increase Interest Earnings Estimate
$262.000
$233,000
$170,000
$100,000
$ 75.000
$ 23,401
General Fund Transfers Adjustments:
1. Increase transfer from Revenue Sharing Fund
2. Transfer to Special Construction Projects
Fund for Street Resurfacing
Revenue Sharing Fund:
$ 136 , 599
$1,000,000
1. Increase revenue estimate per Office of
Revenue Sharing Information
2. Increase transfer into General Fund
$ 136,599
$ 136 ,599
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Special Construction Fund:
1. Transfer from General Fund
2. Set up Street Resurfacing account
$1,000,000
$1,000,000
These budget adjustments will reflect the increased revenue estimates and
set up the street resurfacing account directed by Mayor and Common Council.
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REASON FOR URGENCY: Implementation of March 9. 1985, Council Action.
75.0264