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<br />r <br /> <br /> <br />46 <br /> <br />'- <br /> <br />.) <br /> <br />- <br /> <br />pLEASANTONo <br /> <br />SUBJECT: <br /> <br />City Council <br />Staff Report <br />Finance Department <br />March 21,2006 <br /> <br />FIRST QUARTER 2005-06 FINANCIAL REPORT <br /> <br />STAFF RECOMMENDATION: <br /> <br />Staff recommends that Council adopt the attached resolution which <br />amends the 2005-06 Operating Budget and Capital Improvement <br />Program as follows: <br /> <br />1. Amend the Operating Budget, as outlined in Attachment 1 to the <br />Resolution: <br />a) Update the beginning 2005-06 fund balances from projected <br />to actual 2004-05 ending fund balances. <br />b) Move the presentation of debt service payments and annual <br />Park Renovation projects from the Capital Improvement <br />Program budget to the Operating Budget. <br /> <br />2. Amend the Capital Improvement Program, as outlined in <br />Attachment 2 to the Resolution: <br />a) Update the beginning 2005-06 fund balances from projected <br />to actual 2004-05 ending fund balances. <br />b) Move the presentation of debt service payments and annual <br />Park Renovation projects from the Capital Improvement <br />Program budget to the Operating Budget. <br />c) Make minor amendments as recommended by staff. <br /> <br />SUMMARY: Each quarter a report of financial condition is presented to Council <br />that includes any staff recommendations for budget amendments and <br />technical corrections or actions needed. This is the first quarter <br />report for Fiscal Year 2005-06. The first quarter report is routine in <br />nature, reflecting an update of beginning fund balances; some minor <br />requested budget amendments; and other first quarter changes that <br />have already been approved by Council. This report includes the <br />Operating Budget and the Capital Improvement Program (CIP). <br /> <br />I <br /> <br />SR06:085 <br />