The finance director is presenting a budget amendment to transfer $550,000 from the city's general fund surplus to other funds. The general fund revenues are projected to be higher than budgeted while expenses are lower, leaving $1.18 million more than expected. The amendment would transfer $350,000 to the street maintenance fund and $200,000 to the capital replacement fund to help pay for projects according to the city's strategic plan. Council approval is required to amend budgets between funds.

1. Presented By: Robert Galindo, Finance Director
Item # 4
City Council Meeting
September 25, 2017
BUDGET AMENDMENT FOR
FY 2016-17 ADOPTED BUDGET

2. 2
• Total revenue projections for current fiscal
year are $9,934,155 and adopted budget
is $9,860,732.
• Projected operating expenses are
$8,752,431 and adopted budget is
$9,780,582.
• Revenue over expenses are projected at
$1,181,724 before budgeted transfers.
General Fund FY 2016-17 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 the Street
Maintenance Fund $350,000 and Capital
Replacement Fund $200,000.
General Fund Fiscal Year 2016-17
Budget Amendment

4. 4
General Fund Fiscal Year 2016-17
Budget Amendment
Transfers from General Fund to: Adopted Budget FY 2016-17 Budget Amendment 9-25-17 Total
Street Maintenance Fund $ - $ 350,000 $ 350,000
Capital Replacement Fund $ 250,000 $ 200,000 $ 450,000
Total $ 250,000 $ 550,000 $ 800,000

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
2016-17 Adopted Budget

6. Note: Street Maintenance Sales Tax will be ½ cent beginning October 2017 6
The Street Maintenance Fund is funded
through a ¼ cent sales tax and transfers from
the General Fund. The adopted budget did not
have a transfer to the Street Maintenance
Fund from the General Fund.
The Capital Replacement Fund is funded
through transfers from the General Fund.
Budget Amendment to Fiscal Year
2016-17 Adopted Budget

7. 7
 An ordinance to amend the Fiscal Year 2016-17
adopted budget with additional transfers to the Street
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
2016-17 Adopted Budget