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3 <br />THE CITY OF <br />- ' .~. ~ <br />pL£~S~4NTONo CITY COUNCIL AGENDA REPORT <br />1 <br />December 4, 2007 <br />Finance Department <br />TITLE: ADOPT A RESOLUTION ACCEPTING THE 2006-07 YEAR-END <br />FINANCIAL REPORT FOR THE OPERATING BUDGET AND <br />AMENDING THE FISCAL YEAR 2006-07 OPERATING BUDGET (UN- <br />AUDITED) <br />SUMMARY This report describes the results of the 2006-07 fiscal year for the Operating <br />Budget, recommended carryovers, and changes in fund balance reserve designations. <br />RECOMMENDATION <br />Staff recommends that Council adopt the attached resolution to take the following <br />actions: <br />1. Amend the FY 2006-07 Operating Budget as shown in Attachment 3A. <br />2. Fully appropriate June 30, 2007 Fund Balances as shown in <br />Attachment 3B. <br />3. Approve the Operating Budget carryovers detailed in Attachment 4 <br />4. Amend the designations of General Fund Reserves for existing and <br />future, known and unknown, obligations as shown on page 2. <br />FINANCIAL STATEMENT <br />The recommended actions will formalize previous Council decisions and actions from the <br />prior fiscal year and make modifications to the operating budget as outlined in this report. <br />