HomeMy WebLinkAbout7.3 Budget Modification CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: June 24, 1985
SUBJECT 1984-85 Budget Modifications
EXHIBITS ATTACHED None
RECOMMENDATION 1 ) Appropriate excess revenues in General and Gas Tax
funds to Street Improvement Reserve
2 ) Appropriate excess revenues in all other funds to
Reserve for Authorized Projects
FINANCIAL STATEMENT: Revenues in excess of appropriations estimated at
$452 , 010
DESCRIPTION Article XIII . B . Section 2 of the State Constitution
states that "revenues received by an entity of government in excess of that
amount which is appropriated by such entity in compliance with this Article
during the fiscal year shall be returned by a revision of tax rates or fee
schedules -within the next two subsequent fiscal years" .
Fiscal Year 1984-85 revenues are estimated to be in excess of 1984-85
appropriations by approximately $452 , 010 . This figure is an estimate only
and could vary at the time that the City ' s accounting ledgers are closed at
the end of Fiscal Year 1984-85 . It is therefore Staff ' s recommendation that
the City Council appropriate those funds remaining at the end of Fiscal Year
1984-85 in the General Fund and Gas Tax Fund to the Street Improvement
Reserve ; and those funds remaining in all other funds to the Reserve for
Authorized Projects . This action will enable the City to continue to
undertake those projects identified in the City' s Five-Year Capital
Improvement Program.
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COPIES TO :
ITEM NO . 7J