HomeMy WebLinkAbout4.05 Budget Modification •
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 22, 1987
SUBJECT 1986-87 Budget Modifications with regard to _
Article XIII B of the State ' s Constitution.
EXHIBITS ATTACHED None
RECOMMENDATION Appropriate 1986-87 unappropriated revenues to each
fund' s reserve for authorized projects .
FINANCIAL STATEMENT: Appropriations in excess of revenues are estimated at
$4, 693, 752
DESCRIPTION Article XIII B Section 2 of the California
Constitution states in part that "Revenues received by any. . . " City " . . . in
excess of that amount which is appropriated by such entity. . . " " . . .shall be
returned. . . "
The City of Dublin ' s budget documents show that $12, 511, 516. 00 of revenues
are estimated for 1936-87 from the following sources :
General Funds $ 8, 615, 809
Special Revenues Funds 1, 528, 463
Special Assessment Funds 318, 493
Capital Improvement Fund 253, 200
Dublin Information Inc 1, 795, 551
$12, 511, 516
The amount currently appropriated in the funds equals $17,. 00 in the
following funds :
General Funds $ 6, 033, 293
Special Revenue Funds 418, 095
Special Assessment Funds 337, 890
Capital Improvement Funds 6, 901, 252
Dublin Information Inc . 3, 514, 738
$17,205, 268
Based upon these estimates , the revenues for 1986-87 are expected to be less
than the appropriations by $4, 693, 752 . This is possible because the
reserves in the C. I .P. Funds as well as Dublin Information Inc . will be used
during the year.
In some specific funds, however, the estimated revenues exceed the amount
appropriated. For example, in the General Funds , revenues are expected to
exceed appropriations by $2, 582, 516. 00.
To comply with Article XIII B, and because the figures above are only
estimates (the actual amounts will only be known at year end) the Staff
recommends that the City Council appropriate all/any revenues in each
respective fund that exceeds the current amount appropriated. By doing so,
the Council acknowledges that said appropriation of excess revenues is a
setting aside of the money for various projects that require more than one
year to accomplish.
COPIES TO:
ITEM NO. 4. 5