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THE CITY OF <br /> CITY COUNCIL AGENDA REPOIRT 13 <br /> pLEASANTONO <br /> March 19, 2013 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE MIDYEAR 2012/13FY <br /> OPERATING BUDGET AND AMENDING THE 2012/13FY OPERATING <br /> BUDGET ACCORDINGLY <br /> SUMMARY <br /> The City follows a three step operating budget process that starts with the approval of a <br /> two-year Operating Budget (Budget); then after the first year of the Budget the adoption <br /> of a Midterm Budget; and the adoption of Midyear Budget adjustments during each of <br /> the two years of the Budget. This report is the Midyear Budget report for the second <br /> year of the Budget. This report recommends adjustments to the 2012/13FY Midterm <br /> Operating Budget adopted by the Council on June 19, 2012. While these <br /> recommended changes primarily affect the General Fund, Water Fund, and Sewer <br /> Fund, adjustments are also recommended to the Special Revenue Funds and Internal <br /> Service Funds. Included in the recommended Midyear budget adjustments are <br /> recognition of grants, Council actions, and other Budget adjustments that have occurred <br /> since the adoption of the Operating Budget on June 19, 2012. A complete analysis of <br /> the adjustments for all funds is included in Appendix A. <br /> RECOMMENDATION <br /> Adopt the attached resolution approving Midyear adjustments to the 2012/13FY Budget. <br /> FINANCIAL STATEMENT <br /> The recommended adjustments to various funds and the financial impact to each fund <br /> are outlined in Appendix A. The discussion section of this report also summarizes the <br /> recommended adjustments and their respective impact to the Budget. <br />