HomeMy WebLinkAbout035-95 RESOLUTION NO. 35-95
APPROVAL OF MID-YEAR ADJUSTMENTS TO THE
FISCAL YEAR 1994-95 FINANCIAL PLAN
WHEREAS, staff has reviewed all revenue and expenditure projections which were made
in preparing the Fiscal Year 1994-95 Financial Plan; and
WHERKAS, several mid-year adjustments to the 1994-95 Financial Plan are recommended
by staff to continue balancing expenditures with available revenue; and
WHERF~S, the net effect of the mid-year adjustments is projected to be a $186,005
reduction in gross funds available; and
WHEREAS, the 1994-95 Financial Plan reserved $200,000 for possible revenue reductions
which is available to offset the projected reduction in gross funds available; now, therefore,
be it
RESOLVED that the Town Council of the Town of Danville approve the mid-year
adjustments to the Fiscal Year 1994-95 Financial Plan, as detailed in Exhibit 1 to this
Resolution.
APPROVED by the Town Council of the Town of Danville at a Regular Meeting held on
February 21, 1995, by the following vote:
AYES: Greenberg,
NOES: None
ABSTAINED: None
ABSENT: None
Doyle, Ritchey, Shimansky, Waldo
MAYOR
APPROVED AS TO FORM:
CITY ATTORNEY
RESOADJ
ATTEST:
h
CITY CLERK
ATTACHMENT A
Changes to General Fund
1994-95 Revenues and Expenditures
Changes to Available Operating Revenue
Original Budget
Increases:
Engineering Special Revenue
Interest Income
Solid Waste franchise
DUI/Booking Fees
Insurance premium rebates
Building Special Revenue (10/94)
Building Special Revenue (2/95)
Sales Tax
Litigation Settlement
Ponderosa Cable franchise fee
Sub Total Increases
EXHIBIT 1
Decreases:
Property Tax
Rental Property
School District Reimbursement
Gas Tax
Sub Total Decreases
TOTAL AVAILABLE REVENUE
Changes to Operating Expenditures
Original Budget
Increases:
Insurance Premium
Investment Manager
Interim Staffing
Litigation Reserve
Sportsfield Fees
Building Plan Check/Inspection (10/94)
Building Plan Check/Inspection (2/95)
TRANS Interest
Prior 7ear Gas Tax reimbursement
$11,068,800
17,987
36,597
10,000
10,000
113,615
123 768
367 932
119,500
93,007
51000
897,406
575,172
13,800
36,744
69,777
695,493
$11,270,713
$ 9,134,265
41,100
8,100
42,000
75,000
35,000
91,680
272,542
124,799
60,693
EXHIBIT 1 TO ATTACHMENT A
R&,SDLO7'7~/U ,35 -q.g'
t~,
Sub Total Increase
Decreases:
Maintenance Services
Personnel Expenses
Contingency
Sub Total Decreases
TOTAL EXPENDITURES
Reserve for Revenue Shortfall
Original Budget
Decreases
Increases
TOTAL RESERVE FOR REVENUE SHORTFALL
Transfers to Other Funds
Original Budget
Increases:
Community Development Debt Service
Decreases:
Refund Operating Reserve
TOTAL TRANSFERS TO OTHER FUNDS
Net Available for Capital
Original Budget
Decreases
NET AVAILABLE FOR CAPITAL
750,914
90,000
162,996
110,000
362,996
$ 9,522,183
$ 200,000
186,005
13,028
$27,023
$ 971,507
148,193
148,193
$ 971,507
$ 763,028
13,028
$ 750,000
NET GENERAL FUND EQUITY 0