Budget Amendment

1. Presented By: Robert Galindo, Finance Director
Item # 5
City Council Meeting
September 24, 2018
BUDGET AMENDMENT FOR
FY 2017-18 ADOPTED BUDGET

2. 2
• Total revenue projections for current fiscal
year are $10,145,904 and adopted budget
is $9,995,338.
• Projected operating expenses are
$8,943,188 and adopted budget is
$9,911,324.
• Revenue over expenses are projected at
$1,202,716.
General Fund FY 2017-18 Projections

3. 3
• City staff recommends using $550,000 of the
projected positive balance for a budget
amendment.
• Budget amendment would transfer additional
funds from the General Fund to Streets
Maintenance $300,000 and Capital
Replacement Fund $250,000.
General Fund Fiscal Year 2017-18
Budget Amendment

4. 4
General Fund Fiscal Year 2017-18
Budget Amendment
Transfers from General Fund to: Adopted Budget FY 2017-18 Budget Amendment 9-24-18 Total
Streets Maintenance Fund $ - $ 300,000 $ 300,000
Capital Replacement Fund $ 200,254 $ 250,000 $ 450,254
Comprehensive Plan $ 30,000 $ - $ 30,000
Total $ 230,254 $ 550,000 $ 780,254

5. 5
The budget amendment is in line with fiscal
and budgetary policies to fund capital projects
and replacement of equipment on a pay as
you go method and is consistent with the
Strategic Action Plan.
Budget amendments between funds require
council approval.
Budget Amendment to Fiscal Year
2017-18 Adopted Budget

6. 6
The Streets Maintenance Fund is funded
through a ½ cent sales tax and transfers from
the General Fund. The adopted budget did not
have a transfer to the Streets Fund from the
General Fund.
The Capital Replacement Fund is funded
through transfers from the General Fund.
Budget Amendment to Fiscal Year
2017-18 Adopted Budget

7. 7
 An ordinance to amend the Fiscal Year 2017-18
adopted budget with additional transfers to the
Streets Maintenance Fund and Capital Replacement
Fund for a total of $550,000 and to execute all
necessary budget documents and accounts
necessary to complete the budget amendment.
Budget Amendment to Fiscal Year
2017-18 Adopted Budget