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City of Plcasanton <br /> S TA FF REPORT <br /> <br />1 <br /> <br />Finance Department <br />March 17, 1992 <br /> <br />BUBJBCT: <br /> <br />Second Quarter 1991-92 Financial Report and <br />Midyear Review <br /> <br />STAFF RBCOMMENDATIONz <br /> <br />Staff recommends that Council amend the 1991- <br />92 Operating and Capital Improvement Budgets <br />as follows: <br /> <br />Amend the Operating Budget, as detailed <br />in Tables 1-5 in the attached appendix, <br />to reflect: An increase in revenue <br />projections by $796,197, from $51,608,372 <br />to $52,404,569; a decrease in expenditure <br />appropriations by $1,185,949, from <br />$50,130,020 to $48,944,071; and a net <br />increase in transfers-in by $65,500. <br /> <br />® <br /> <br />Establish a Reserve for Carryovers in the <br />General Fund in the amount of $1,724,798, <br />designated for the purposes described <br />below. <br /> <br />Amend the Capital Improvement Budget, as <br />detailed in Tables 6-10 in the attached <br />appendix, to reflect: An increase in <br />revenue projections by $658,408, from <br />$9,414,802 to $10,073,210; a decrease in <br />expenditure appropriations by $500,179, <br />from $21,894,243 to $21,394,06~; and a <br />net decrease in transfers-in by $348,510. <br /> <br />Each quarter a report of financial condition <br />is presented to Council which includes any <br />staff recommendations for budget amendments <br />and technical corrections or actions needed. <br />This is the second quarterly report for the <br />fiscal year 1991-92. Additionally, since the <br /> <br />SR92:125 <br /> <br />1 <br /> <br /> <br />