RES 96134 - Laserfiche WebLink

Honorable Mayor and Members of the Council: BACKGROUND The purpose of this report is to present the status of operating and capital improvement budgets for the period July 1- September 30, 1996. Only a few minor changes are being requested. Specifically, the worksheets in the attached appendices blend the current year (1996-97) budgets with the carryovers from 1995-96 that Council approved as part of the year-end 1995-96 Financial Report. Any budget amendments that Council adopted in the fast three months of the fiscal year are also reflected in the worksheets. OVERVIEW OF FIRST QUARTER 1996-97 Changes to Beginnin!~ Fund Balance No changes to beginning fund balances arc reflected yet since the audit is not yet complete. If any audit adjustments are made, they will be reflected in the Midyear report. Recommended First Quarter Amendments There are only a few minor amendments being recommended in the Operating Budget. In the General Fund, revenue of $206,083 is shown for a PERS adjustment that was anticipated in 1995-96, but not totally received by the end of that year. Revenue for the federal COPS Ahem grant is being reduced by $45,900 since these funds were reflected already in 1995-96. Staff is recommending some additional clerical assistance for a limited time in the Building and Public Works Departments to assist with the current building activity workload. Some of the costs are offset by salary savings from vacant positions, so the resulting net request is only $7,244. As pan of the Midyear review, a detailed analysis will be done of both expenditures and revenues in the Operating Funds. Revenues to be looked at in detail include property taxes, sales taxes, hotel taxes, interest income, water and sewer rate revenue, and building related fees. The CIP reflects numerous small adjustments and transfers between projects. The Parks Fund shows a reduction in estimated commercial park obligation revenue of $1,675,23 1 because this amount was already collected in 1995-96. SR96:344 2