PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of FY 2023 budget amendments for the General Fund, Golf Fund, Special Revenue Fund, Development Services, Self Insurance Fund, Fleet Fund and the Court Technology Fund.
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DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
General Fund Amendment -Per the City’s financial policy, if an overall department budget needs to be increased or decreased, a budget amendment is required via City Council approval. Due to higher than anticipated employee expenditures, end-of-year accruals, increased service and equipment costs, and unanticipated operating expenditures, budget amendments are required in the City Council, City Manager’s Office, Police, City Attorney, Human Resources, Public Works, Library, Non-Departmental, Planning & Development Services and Fire departments of the General Fund Budget. Staff recommends utilizing the Planning & Development Services and Transportation & Capital Improvements operating allocations to support this amendment, so there will be no direct financial impact to the General Fund. With the approval of these amendments, the General Fund will still be lower than the FY 2023 Estimate for actual expenditures. The following General Fund budget amendments are recommended for City Council consideration.
Golf Fund Amendment - A budget amendment to supplement the employee and operating expenditure categories is required due to higher than anticipated year-end accruals, increased merchandise costs, and the purchase of capital assets. There is offsetting revenue for the operational expenses related to the purchase of merchandise for resale. The Golf Course has sufficient funds to support the amendments as described above.
Special Revenue Fund Amendment - A budget amendment to supplement the operating expenditure category is required due to an increase in special revenue project activity. There is offsetting revenue consisting of State Grant Funds, Property Sales Revenue, Donations, and Proceeds from Insurance to supplement the expenditure overage. The Special Revenue Fund has sufficient funds to support the amendments as described above.
Development Services Fund Amendment - A budget amendment to supplement the operating expenditure category is required due to increased permit and plan review. There is offsetting revenue in Development Fees, Engineering Plan Review Fees, and Engineering Inspection Fees to supplement the expenditure overage. The Development Services Fund has sufficient funds to support the amendments as described above.
Self-Insurance Fund Amendment - A budget amendment to supplement the employee expenditure category is required due to higher than anticipated insurance costs. The Self Insurance Fund has sufficient funds to support the amendments as described above.
Fleet Fund Amendment - A budget amendment to supplement the employee and operating expenditure categories is required due to higher than anticipated employee and operating costs. The Fleet fund expenditures fluctuate depending on Citywide usage of the Fleet services. There will be an adjustment in the Fleet revenue allocation to offset the expenditure overage.
ISSUE:
N/A
FISCAL IMPACT:
The General Fund amendment does not have a fiscal impact and will not increase expenditures within the General Fund, therefore sufficient funds are available in the General Fund to support the amendment. The Golf Fund, Special Revenue Fund, Development Services, Self Insurance Fund, Fleet Fund and the Court Technology Fund have sufficient funds to cover the amendments described above.
Recommendation
RECOMMENDATION:
Staff recommends approval of all budget amendments for FY 2023.