2. GENERAL FUND 2020-21 PROJECTIONS
โขThe estimated fund balance for fiscal year ending 9-30-21 is
$1,106,229 after the adopted budget transfers of
$440,831.
FY 2020-21 Adopted Budget Projections
Revenues $ 11,068,524 $11,052,000
Expenditures $ 10,961,292 $ 9,945,771
Ending Balance $ 107,232 $ 1,106,229
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3. GENERAL FUND 2020-21 PROJECTIONS
โข City staff recommends using up to $1,064,000 of the
projected positive balance of $1,064,229 for a
budget amendment to transfers out of the General
Fund.
โข Amendment will be for a transfer from the General
Fund to the Capital Projects Fund of up to
$1,064,000 to complete engineering and design
improvements with related cost estimates for the
Austin Highway/Lower Broadway project.
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4. FINANCIAL
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Transfer to Capital Projects Fund from General Fund for
Austin Hwy/Lower Broadway Improvement Project: Amount
Engineering for Roadway estimate $120,000 $ 120,000
Engineering for Existing Box Culvert estimate $100,000 $ 100,000
Encumbrances Landscape Design $69,502.50/Engineering $42,242.50 $ 111,745
TBD improved landscaping - initial transfer $ 732,255
Total $ 1,064,000
5. POLICY ANALYSIS
โข The budget amendment is in line with strong financial
management practices to set aside funds when possible for
capital projects
โข Consistent with the Strategic Action Plan
โข Budget amendments between funds require Council
approval
โข Reviewed by the City Attorney
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6. COUNCIL ACTION
โข An ordinance to amend the Fiscal Year 2020-2021
adopted budget for transfers from the General Fund to the
Capital Projects Fund for up to a total of $1,064,000 and
to execute all necessary budget documents and accounts
necessary to complete the budget amendment.
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