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mainly due to a higher beginning fund balance
<br /> by $527,390 and an increase in expenditure of
<br /> $249~527.
<br />
<br /> Prop. 4 funds in the amount of $14,332,788 are
<br /> projected to be used for City Council approved
<br /> projects through June 1988.
<br />
<br />Honorable Mayor and Members of the Council:
<br />
<br />General Fund
<br />
<br />An update and review of the General Fund indicates that the
<br />projected balance at June 30, 1988 will be $2~344,501 or
<br />$1,005,842 more than projected at the time the budget was
<br />adopted. The table following summarizes the information required
<br />to develop the Fund Balance projected as of June 30, 1988.
<br />
<br />General Fund Balance - June 30, 1988
<br />
<br /> Net Effect
<br /> Adopted Revised On Fund
<br /> Budget Estimate Balance
<br />
<br />Fund Balance(7/1/87) $ 3,395,800 $ 5,117,001 $ 1,721,201
<br />Prior Yr. Transf. Adj. 300,000 300~000,
<br />
<br />Adjusted Fund Balance $ 3,395,800 $ 5,417,001 $ 2,021,201
<br />
<br />Projected Revenue
<br />and Transfers (net) 21,844,720 21,672,605 (172,115)
<br />Projected Expenditures 18,619,408 19,654,512 (1,035,104)
<br />Contingency Reserve
<br />Balance 700~000 208~140 491~860
<br />
<br /> SUBTOTAL $ 5,921,112 $ 7,226,954 $ 1,305,842
<br />
<br />Prop. 4 Fund Transfer 4,582,453 4,582,453
<br />Prior Year Adjustment 300,000 (300~000)
<br />
<br />Adjusted Prop 4 Trans. $ 4,582,453 $ 4,882,453 $ (300,000)
<br />
<br />Projected Fund Balance $ 1,338,659 $ 2,344,501 $ 1,005,842
<br /> (6/30/88)
<br />
<br />, For cash flow purposes in 1986-87 it was anticipated that
<br /> $300,000 in Prop. 4 revenues would need to be advanced from
<br /> the General Fund for the Capital Improvement Fund to meet the
<br />
<br />SR:88:123
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