HomeMy WebLinkAbout7/17/2002 - STAFF REPORTS (24) DATE: July 17, 2002
TO: City Council
FROM: Director of Finance and Treasurer/Director of Aviation
RE: Budget Amendment—Airport Fund Capital Projects
RECOMMENDATION:
It is recommended that the City Council approve an amendment to the Fiscal Year
2002-03 budget increasing the amount budgeted for the Airport's Roadway Plaza
Landscaping from $250,000 to $650,000.
SUMMARY:
During the recently completed budget process, there was an apparent
miscommunication between the Airport staff and the Finance Department. The result
was an understatement of the Airport's budget for the Roadway Plaza Landscaping
account. The budget amendment corrects this error. The funds are available in the
Airport Fund's Retained Earnings.
BACKGROUND:
The budget for the account in question (415-6400-56051) had initially been submitted
for funding at $250,000. Subsequent reports from the Airport to the City Council
discussed a $650,000 figure. However, the FY 02-03 budget was adopted with the
original amount.
Airport staff had already anticipated the higher level, and funds are available in the
Airport Fund's retained earnings to cover the additional $400,000.
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AIIen F. Smoot Thomas M. Kanarr
Executive Director—Airports Director of Finance and Treasurer
Approved
David H. Ready
City Manager
Attachment: Resolution
RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AMENDING THE BUDGET FOR
THE 2002-03 FISCAL YEAR.
WHEREAS Resolution 200357 approving the budget for the fiscal year 2002-03 was
adopted on June 5, 2002; 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 20357, adopting the budget for the 2002-03 fiscal year is hereby amended as
follows:
SECTION 1. ADDITIONS
Fund Activity Account Amount
415 6400 56051 $400,000
Airport Airport Roadway Plaza
Development Landscaping
Purpose: To correct FY 02-03 budget
SECTION 2. SOURCE
Fund Activity Account Amount
415 29302 $400,000
Airport Retained Earnings
Adopted this day of 12002.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
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REVIEWED AND APPROVED