Laserfiche WebLink
THE CITY OF <br /> _;� CITY COUNCIL AGENDA REPORT 12 <br /> PLEASANTONQ <br /> March 17, 2015 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE MIDYEAR FY 2014/15 <br /> OPERATING BUDGET AND AMENDING THE FY 2014/15 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 the <br /> two years of the Budget. This report is the Midyear Budget report for the second year of <br /> the Budget. This report recommends adjustments to the FY 2014/15 Midterm Operating <br /> Budget adopted by the Council on June 17, 2014. While these recommended changes <br /> primarily affect the General Fund, Water Fund, and Sewer Fund, adjustments are also <br /> recommended to the Special Revenue Funds and Internal Service Funds. Included in <br /> the recommended Midyear budget adjustments are recognition of grant funds, Council <br /> actions, and other Budget adjustments that have occurred since the adoption of the <br /> Midterm Operating Budget on June 17, 2014. A complete analysis of the adjustments for <br /> all funds is included in Appendix A. <br /> RECOMMENDATION <br /> Adopt the attached resolution approving Midyear adjustments to the FY 2014/15 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 and fund balances. <br />