HomeMy WebLinkAbout10/6/2004 - STAFF REPORTS (9) DATE: October 13, 2004
TO: City Council
FROM: Gary Jeandron, Chief of Police
RE: Budget Amendment for Asset Forfeiture Fund
RECOMMENDATION
It is recommended that the City Council appropriate $29,393 from the Asset
Forfeiture Fund's fund balance to the local asset seizure account.
SUMMARY
The proposed action would appropriate the June 30, 2004 ending fund balance In
the Forfeited Asset Fund (the "FAF") to an expenditure account.
BACKGROUND
The FAF's sources of revenue are assets seized as a result of criminal
investigations, grants and interest income. The fund balance as of June 30,2004
is the result of unexpended appropriations from the last two fiscal years. Since
the appropriations were not formally continued by City Council action into the
current fiscal year, the amount must be reappropriated in order to be available.
The Police Department uses the local asset seizure funds to purchase equipment
and other necessary services that are not supported by the City's General Fund .
FISCAL IMPACT
All of the fund balance in the Asset Forfeiture Fund will be appropriated. There is
no impact on the General Fund.
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Approval:
Director of Finance & Treasurer
Approved: : % p ,
City Manager
Attachment: Budget Resolution
RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, AMENDING THE BUDGET FOR THE 2004-05
FISCAL YEAR.
WHEREAS Resolution 20973 approving the budget for the fiscal year 2004-05 was adopted
on June 9, 2004; and
WHEREAS the City Manager has recommended, and the City Council desires to approve,
certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized to record
inter-fund cash transfers as required in accordance with this Resolution, and that Resolution
20973, adopting the budget for the 2004-05 fiscal year is hereby amended as follows:
SECTION 1. ADDITIONS
Fund Activity Account Amount
120 3012 43929 $29,393
Forfeited Assets Police PSPD Local Seizure
— City
Purpose To appropriate fund balance to an expenditure account.
SECTION 2. SOURCE
Fund Activity Account Amount
120 29301 $29,393
Forfeited Assets Fund Balance
Adopted this day of 12004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED AND APPROVED `