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Exhibit B <br /> THE CITY OF <br /> 17 <br /> rte-- CITY COUNCIL AGENDA REPORT <br /> pL£ASANTONe <br /> December 7, 2010 <br /> Finance Department <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE 2009 -10FY YEAR -END <br /> FINANCIAL REPORT FOR THE OPERATING BUDGET AND <br /> AMENDING THE 2009 -10FY OPERATING BUDGET <br /> SUMMARY <br /> This report presents the results of operation for the 2009 -10FY Operating Budget; <br /> recommended carryovers of outstanding purchase orders, contracts and obligations <br /> from 2009/10FY to 2010/11 FY (Carryovers); and changes in designations of the fund <br /> balance reserves. This information is unaudited. The audited information will be <br /> reflected in the City's Comprehensive Annual Financial Report (CAFR) and will be <br /> presented to Council once the City's independent auditor has issued its opinion on the <br /> CAFR and it has been accepted by the Audit Committee (expected to occur) in January <br /> 2011. If there are any differences in the financial information presented in this report <br /> and the CAFR as a result of the audit, those changes will be highlighted for the Council <br /> at the time the CAFR is presented to the Council for acceptance in January. <br /> RECOMMENDATION <br /> Staff recommends that Council adopt the attached resolution (Attachment 1) to take the <br /> following actions: <br /> 1. Amend the 2009 -10FY Operating Budget as shown in Attachment 2. <br /> 2. Designate June 30, 2010, Fund Balances as shown in Table 2 and also in <br /> Attachment 2. <br /> 3. Approve the Operating Budget Carryovers as shown in Attachment 3. <br /> FINANCIAL STATEMENT <br /> The recommended actions will formalize Council's decisions since the last approved <br /> budget adjustments (Third Quarter Report adopted by the Council on May 4, 2010 and <br /> the Midterm Budget Review approved June 1, 2010) and approve any modifications to <br /> the Operating Budget as outlined in this report. <br />