MEMO TO: Members of the City Council
FROM: Mayor John Marchione
SUBJECT:
title
Adoption of an Ordinance Amending Ordinance No. 2943 by Making Adjustments to the City's 2019-2020 Biennial Budget
a. ORDINANCE NO. 2972: An Ordinance Amending Ordinance No. 2943, by Making Adjustments to the City's 2019-2020 Biennial Budget, in Exhibit 1
I. RECOMMENDED ACTION
recommendation
Adopt the proposed ordinance amending the 2019-2020 Biennial Budget. The effect of this adjustment is to: Recognize the difference between actual and budgeted beginning fund balances to support City activities; provide additional appropriation and interfund transfers to support the purchase of a parcel of land; provide for new grant revenue; and move the salary and benefit budget associated with five existing positions from the General Fund to the Information Technology Fund to implement departmental reorganizations.
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II. DEPARTMENT CONTACTS
Malisa Files, Finance Director 425-556-2166
Kelley Cochran, Deputy Finance Director 425-556-2748
Marissa Flynn, Senior Financial Analyst 425-556-2186
III. DESCRIPTION/BACKGROUND
Periodically the Finance Department adjusts the budget to recognize revenue and expenditure changes during the biennium. At the beginning of each new budget year, Financial Planning reconciles the budgeted beginning fund balances and the actual beginning fund balances for each fund so that fund managers know how much actual cash they carried over into the new biennium. These adjustments can either increase or decrease each of the City's budgeted funds as shown in Exhibit 1. Most of the changes in this budget adjustment result from the beginning fund balance reconciliation while the others are either minor housekeeping changes or items previously approved by Council. The details of each adjustment are outlined below.
Adjust Budgeted Beginning Fund Balances - $17,198,207
The adjustment would formally recognize the difference between the actual...
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