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THE CITY OF <br /> <br />pLtiASANTON, <br /> <br />6E <br /> <br /> City Council <br />Information Report <br /> <br /> January 5, 2005 <br />Finance Department <br /> <br />SUBJECT: <br /> <br />2003-04 FISCAL YEAR END FINANCIAL REPORT (Capital <br />Improvement Program only) <br /> <br />STAFF RECOMMENDATION: <br /> <br />Staff recommends that Council adopt the attached resolution to take the <br />following actions: <br /> <br />1. Amend the 2003-04 Capital Improvement Program (CIP), as displayed in <br /> Appendix A. <br /> <br />2. Approve the Capital Improvement Program budget carryovers detailed in <br /> Appendix A. <br /> <br />3. Fully appropriate all fund balances as shown in Appendix A, and designate <br /> them as contingency reserves for existing and future, known and unknown <br /> obligations. <br /> <br />SUMMARY: Annually staff presents a year end financial report to the City Council giving the <br /> status of the City's funds, and recommending various actions regarding budget <br /> can'yovers, amendments, reserves, etc. The Operating Budget was presented in a <br /> separate report on October 19, 2004. The following report describes the results <br /> of the 2003-04 CIP. <br /> <br />Honorable Mayor and Members of the City Council: <br /> <br />BACKGROUND <br /> <br />The purpose of this report is to present the status of Capital Improvement Program (CIP) Funds <br />as of the end of the fiscal year 2003-04 (FY04), and to compare actual revenues and expenditures <br />to projections for that year. Staff is also recommending Council actions relating to the transfer <br />of funds between projects, the designation of Fund Balances, and the carryover of budgeted <br />items from one fiscal year to the next, which are done each year as the final step in closing the <br />books. <br /> <br />SR05:017 <br /> <br /> <br />