HomeMy WebLinkAbout07-Finance
CITY OF SAN BERNtJlDINO - REQUEST FOR COUNCIL ACTION
-
From:
C
- "-
Andrew Green
Finance Director
Subject: Transfer of funds -- $9,200,000
from General Fund to Special
Revenue and Internal Service Funds
DIu: March 10, 1992
Synopsis of Previous Councilection:
Recommended motion:
o
That the sum of $9,200,000 be transferred from the General fund to
the Special Revenue and Internal Service Funds as outlined in the
memorandum from the Finance Director dated March 10, 1992.
,-
I...."J'/\
_ .,..-J. U~
Signature
Contect person:
It.T\~l'' ~"'AA"
Phone:
5242
Supporting data lIttIChad:
yes
Wlrd:
FUNDING REQUIREMENTS:
Amount: !:Q ?nn nnn
Source: (Acct. No.!
(Acct. Descrictionl
Finance:
OCil ~otes:
Agenda Item No
1
7"\.n,?Fi2
CITY OF SAN BERNGRDINO - REQUEST lOR COUNCIL ACTION
o
o
o
15-0264
.
~ ...
STAFF REPORT
As a result of accounting requirements Special Revenue and Internal
Servic'~ Funds must be supported by the General Fund. currently the
deficits in these funds equate to an excess amount of $14 million.
In !n effort to conform to generally accepted accounting
principles, the General Fund should advance, to the extent
possible, funding for these deficits. The bond proceeds which will
result from the refinancing of City Hall should be used to
reimburse the General Fund for this advance.
The recommended amounts which should be advanced to these Other
Funds to address the deficits are listed below.
Public Facilities Renovation
Cemetery
Animal Control
Telephone Support
Motor Pool
Combined Health Insurance
Self Insured Health Plan
Liability Insurance
Workers compensation
TOTAL
"
" ~
.' ~.....,J U,-.J-
ANDREW M. GREEN
Director of Finance
$ 969,203.86
197,801. 72
320,720.93
550,383.85
176,555.51
1,458,819.23
476,714.28
2,524,900.31
2.524.900.31
$9,200,000.00