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ATTACHMENT 2 <br /> SECTION I <br /> OPERATING BUDGET <br /> 2012/13FY Mid-Term Budget Update <br /> Operating Budget Fiscal Overview and Executive Summary <br /> This is an update to the adopted 2011/12FY & 2012/13FY Two-Year Budget (adopted by City <br /> Council on June 21, 2011) and makes recommended adjustments to the second year <br /> (2012/13FY) of the financial plan based upon a review of current financial conditions. The <br /> Operating Budget is comprised of a number of funds that are summarized in the following five <br /> categories: <br /> Table 1 <br /> Total Budgeted Expenditures <br /> (In Millions) <br /> 2012/13FY 2012/13FY <br /> 2009/10FY 2010/11 FY 2011/12FY Original Adjustments Mid-Term <br /> Fund Category Actuals Actuals Midyear Budget (Decreases) Budget <br /> General Fund $84.5 $82.6 $86.9 $87.3 $0.0 $87.3 <br /> Enterprise Funds 31.1 31.4 34.0 34.4 1.0 35.4 <br /> Internal Service Funds 34.4 33.3 49.1 39.8 (5.6) 34.2 <br /> Special Revenue Funds 29.8 30.7 29.3 29.2 (0.8) 28.4 <br /> Debt Service& Trust Funds 2.8 2.4 2.4 2.0 0.0 2.0 <br /> Total Expenditures $182.6 $180.4 $201.7 $192.7 ($5.4) $187.3 <br /> The only funds that are not included in the Operating Budget are the Capital Improvement <br /> Funds. The update to the 2012/13FY of the Capital Improvement Budget is contained in <br /> Section II of this document. <br /> General Fund <br /> Recommended adjustments to the General Fund include a slight increase in estimated <br /> revenues of $40,085, increases to net transfers of $44,960, and a slight decrease in planned <br /> expenditures of$4,875 as shown in Table 2. <br /> Table 2 <br /> General Fund 2012/13FY Budget <br /> 2012/13FY 2012/13FY <br /> Original Recommended Md-Term <br /> Revenues Budget Adjustments Budget <br /> Revenues $89,653,819 $40,085 $89,693,904 <br /> Net Transfers (2,355,398) ($44,960) ($2,400,358) <br /> Expenditures (87,298,421) $4,875 ($87,293,546) <br /> Difference $0 $0 $0 <br /> 1 <br />