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BACKGROUND <br /> City Council adopted the FY 2009 -10 2010 -11 Two -Year Operating Budget effective <br /> July 2009. Since that time there have been a number of budget adjustments either for <br /> approved carryovers, Mid -Year budget adjustments and reductions, or through various <br /> City Council agenda actions accepting grants and making other supplemental <br /> appropriations. This report recommends additional adjustments to revenue estimates <br /> and expenditures based on either additional City Council agenda actions or other staff <br /> recommended changes. <br /> DISCUSSION <br /> The recommended additional budget adjustments affect the General Fund, Enterprise <br /> Funds, Internal Service Funds, and Special Revenue Funds. The following is an <br /> executive summary and overview of the recommended adjustments. <br /> OPERATING BUDGET OVERVIEW <br /> Recommended changes to revenues and expenditures for various fund types are <br /> summarized in Table 1 below. <br /> Table 1. All Funds Overview of Recommended Ad'ustments <br /> Adjustments <br /> Fund Revenue To Net Expenditure <br /> Adjustments Transfers Adjustments <br /> General Fund (124,337) (124,337) <br /> Enterprise Funds 107,553 <br /> Internal Service Funds 30,221 5,536,000 <br /> Special Revenue Funds 28,350 27,592 <br /> General Fund Overview <br /> The recommended changes to General Fund revenues and expenditures as shown in <br /> Table 2 will offset one another and although both revenues and expenditures will be <br /> reduced $124,337 the budget will remain in balance. <br /> Table 2. General Fund 3 Quarter Additional Ad'ustments <br /> Mid -Year 3rd Quarter <br /> Adjusted Additional Amended <br /> General Fund Budget Adjustments Budget <br /> Be. innin. Balance 25 288 896 25 288 896 <br /> Revenues 83,265,537 (124,337) 83,141,200 <br /> Net Transfers 710,887 710,887 <br /> Expenditures 85,678,229 124,337 85,553,892 <br /> Net Income 1 701 805 1 701 805 <br /> Endin• Balance 23 587 091 23 587 091 <br /> Page 2 of 5 <br />