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THE CITY OF <br /> ;�' ; , .L. I ' r- CITY COUNCIL AGENDA REPORT 1 2 <br /> j'LEASANTON© <br /> March 21, 2017 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE MIDYEAR FY 2016/17 <br /> OPERATING BUDGET AND AMENDING THE FY 2016/17 OPERATING <br /> BUDGET ACCORDINGLY <br /> SUMMARY <br /> The City follows a three step operating budget process that starts with the approval of a <br /> two-year Operating Budget (Budget); then after the first year of the Budget the adoption <br /> of a Midterm Budget; and the adoption of Midyear Budget adjustments during each of the <br /> two years of the Budget. This report is the Midyear Budget report for the second year of <br /> the Budget. This report recommends adjustments to the FY 2016/17 Midterm Operating <br /> Budget adopted by the Council on June 21, 2016. While these recommended changes <br /> primarily affect the General Fund, Water Fund, and Sewer Fund, adjustments are also <br /> recommended to the Special Revenue Funds. Included in the recommended Midyear <br /> budget adjustments are recognition of grant funds, Council actions, and other Budget <br /> adjustments that have occurred since the adoption of the Operating Budget on June 21, <br /> 2016. A complete analysis of the adjustments for all funds is included in Appendix A. <br /> RECOMMENDATION <br /> Adopt the attached resolution approving Midyear adjustments to the FY 2016/17 Budget. <br /> FINANCIAL STATEMENT <br /> The recommended adjustments to various funds and the financial impact to each fund <br /> are outlined in Appendix 1. The discussion section of this report also summarizes the <br /> recommended adjustments and their respective impact to the Budget and fund balances. <br />