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THE CITY OF 11 <br /> "' CITY COUNCIL AGENDA REPORT <br /> pL EASANTONo <br /> November 20, 2012 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION TO ACCEPT THE 2011/12:FY YEAR-END <br /> FINANCIAL REPORT FOR THE CAPITAL IMPROVEMENT PROGRAM <br /> (CIP) BUDGET AND AMEND THE 2011/12FY CIP BUDGET <br /> SUMMARY <br /> This report (Report) presents the results of the 2011/12FY Capital Improvement Budget <br /> and recommended changes in the fund balance reserves. This information is <br /> unaudited. The audited information will be reflected in the City's Comprehensive <br /> Annual Financial Report (CAFR) and will be presented to Council once the City's <br /> independent auditor has issued its opinion on the CAFR and it has been reviewed by <br /> the Audit Committee which is expected to occur in January 2013. If there are any <br /> differences in the financial information presented in this report and the CAFR as a result <br /> of the audit, those changes will be highlighted for the Council at the time the CAFR is <br /> presented to the Council for acceptance in January 2013. <br /> RECOMMENDATION <br /> Staff recommends that Council adopt the attached resolution to take the following <br /> actions: <br /> 1. Amend the 2011/12FY CIP as detailed in this Report and Appendix A. <br /> 2. Approve the CIP budget carryovers to 2012/13FY as detailed in this Report and <br /> Appendix B. <br /> 3. Accept the Year-End report as summarized in this Report and Appendix C. <br /> FINANCIAL STATEMENT <br /> The recommendations as outlined in this Report present all financial activity and <br /> changes in the 2011/12FY CIP for Council's approval since the last approved budget <br /> adjustments (Mid-Term Capital Improvement Program adopted by Council on June 19, <br /> 2012). <br />