Item # 8 - PPT FY2019.2020 Budget Amendment

1. ADMINISTRATION AND
FINANCE
Presented by:
Robert Galindo
Finance Director
BUDGET AMENDMENT FOR
FY 2019-20 ADOPTED BUDGET
ITEM # 8
SEPTEMBER 28, 2020

2. GENERAL FUND 2019-20 PROJECTIONS
•The estimated net balance for the General Fund for fiscal year
ending 9-30-20 is $450,100 after the adopted budget
transfers of $1,085,049.
FY 2019-20 Adopted Budget Projections
Revenues $ 10,927,616 $10,522,656
Expenditures $ 10,601,645 $10,072,556
Ending Balance $ 325,971 $ 450,100

3. GENERAL FUND 2019-20 PROJECTIONS
• City staff recommends using $200,000 of the
projected positive balance $450,100 for a
budget amendment to transfers out of the
General Fund.
• Amendment will include transfers from the
General Fund to Streets Maintenance Fund for
$150,000 and Capital Replacement Fund for
$50,000.

4. GENERAL FUND FISCAL YEAR 2019-20
BUDGET AMENDMENT
Transfers from General Fund to:
Adopted Budget
FY 2019-20
Budget Amendment
9-28-20
Amended
Total
Streets Maintenance Fund $ - $ 150,000 $ 150,000
Capital Replacement Fund $ 353,049 $ 50,000 $ 403,049
Total $ 353,049 $ 200,000 $ 553,049

5. BUDGET AMENDMENT FISCAL YEAR 2019-20
ADOPTED BUDGET
• The budget amendment is in line with fiscal and
budgetary policies to fund capital projects and
replacement of capital equipment on a pay as
you go method.
• Consistent with the Strategic Action Plan.
• Budget amendments between funds require
council approval.

6. BUDGET AMENDMENT TO FISCAL YEAR
2019-20 ADOPTED BUDGET
• An ordinance to amend the Fiscal Year 2019-20
adopted budget for transfers from the General Fund
to the Streets Maintenance Fund $150,000 and
Capital Replacement Fund $50,000 for a total of
$200,000 and to execute all necessary budget
documents and accounts necessary to complete the
budget amendment.