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HomeMy WebLinkAbout10/6/1999 - STAFF REPORTS (20) TO: CITY COUNCIL FROM: DIRECTOR OF OMB DATE: OCTOBER 6, 1999 FISCAL YEAR 1998-99 YEAR END BUDGET REPORT RECOMv1MATION: That the City Council approve the proposed Budget Amendment for the 199&1999 fiscal year. BACKGROUND: The budget for FY 98-99,which closed on June 30, 1999,had a significant expenditure overrun in the area of public safety. Part ofthe reason for that was that the FY 98-99 budget was prepared following the 1997 dection,which had featured the renewal of the Utility Users Tax (UUT)on the ballot. As an effort to begin to wean the City from the UUl', the City Council requested that 0.5%be cart from the UUP rate, which cost the City$400,000 in annual revenue. Department budgets were reduced to offset the lost revenue. As a result,many departments and accounts have still not returned to their pre-1997 levels. Police overtime was such an account: it was reduced from$470,000 to UM,000 in the FY 99-99 budget,in an attempt to bring the cost down. However,the expend'iwre for police overtime in FY 98-99 was$780,000,which necessitated reducing other departments' actual continuing appropriations to minimize the used to appropriate additional funds for the FY 98-99 budget. In order to close the books on the fiscal year,it is necessary to have Council authorize an appropriation in the amount of$33,500 to bring the budget into balance While expenditures were over budget,as indicated,it should be noted that Revenues exceeded estimates by over$635,000;therefore,the above appropriation is not coming from"base"fund balance but rather FY 98-99 revenues that exceeded budget estimates. The Office of Management&Budget will provide additional detail on revenues and expenditures to the-City Council at the October 27 1999 Y Quarter budget workshop. vy/Wl f� M TT D' o of Man awn errt&Budget - Q/ APPROVED: Wty ATTACH1vIBNTS: 1. Budget Resolution al�4L RESOLUTION NO. 19668 OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, AMENDING THE BUDGET FOR THE 1998-99 FISCAL YEAR VAiEREAS Resolution 19268, approving the budget for the fiscal year 1998-99 was adopted on June 3, 1998, and WHEREAS the City Manager has recommended, and the City Council desires to approve, terrain amendments to said budget; NOW THEREFORE BE TT RESOLVED that the Director of Finance is authorized to record inter- fund cash transfers as required in accordance with this Resolution, and that Resolution 19268, adopting the budget for the 1998-99 fiscal year is hereby amended as follows: SECTION 1. ADDITIONS FUND ACTIVCIY ACCOUNT AMOUNT To: 001 3010 40800 $33,500 Title General Fund Police overtime Purpose* Public Safety overtime SECTION 2. SOURCE FUND ACTMTY ACCOUNT AMOUNT To: 001 2930 $33,500 Title: General Fund Fund Balance Adopted this 6th day of acto y,- , 1999. AYES: Members Barnes, Oden, Reller-Spurgin and Mayor Kleindienst NOES: Member Hodges ABSENT: None ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By City Clerk City Manager REVIEWED AND APPROVED AS TO FORM adasnaa.