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CITY OF PLEASANTON <br /> <br /> STAFF REPORT <br /> <br /> Finance Department <br /> April 16, 1995 <br /> <br />SUBJECT: Second Quarter 1995-96 Financial Report and Midyear <br /> Review <br /> <br />STAFF RECOMMENDATION: <br /> <br /> Staff recommends that Council adopt the attached resolution which <br /> amends the 1995-96 Operating and Capital Improvement Budgets <br /> as follows: <br /> <br /> 1. Amend the Operating Budget, as outlined in Appendix B, <br /> to reflect: An increase in revenue projections by <br /> $2,507,224 from $63,763,805 to $66,271,029; an increase <br /> in expenditure appropriations by $1,619,097, from <br /> $58,369,179 to $59,988,276; and a net increase in <br /> transfers-in by $45,676. <br /> <br /> 2. Amend the Capital Improvement Budget, as detailed in <br /> Tables 1-5 in Appendix H, to reflect: an increase in <br /> revenue projections by $1,424,392, from $8,380,632 to <br /> $9,805,024; a decrease in expenditure appropriations by <br /> $252,054 from $25,445,967 to $25,193,913; and a net <br /> increase in transfers-out by $12,000. <br /> <br /> SUMMARY: Each quarter a report of financial condition is presented to Council <br /> which includes any staff recommendations for budget amendments <br /> and technical corrections or actions needed. This is the second <br /> quarterly report for the fiscal year 1995-96. Since the second <br /> quarter marks the midyear point for the budget year, staff <br /> performed a more thorough "Midyear Review" in this quarter. <br /> <br /> <br />