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RESOLUTION NO. 17-2008
APPROVING THE MID-YEAR ADJUSTMENTS TO THE
FISCAL YEAR 2007-08 FINANCIAL PLAN
WHEREAS, all revenue and expenditure projections, which were made in preparing the
Fiscal Year 2007-08 Financial Plan have been reviewed; and
WHEREAS, the following mid-year adjustments to the 2007-08 Financial Plan are
recommended to reflect changes in revenues, appropriate designated funds for current
year operational activities, meet increased expenditure needs and updated program
responsibilities and to continue balancing expenditures with available revenues and
reserves:
. An increase of $300,000 in the sales tax revenue category of the General Fund;
. An increase of $231,990 in the Insurance Rebate revenue category of the General
Fund;
. A transfer of $93,576 of Rental Income revenue to the General Fund from the
Community Development Agency Debt Service Fund;
. An appropriation of $84,216 from the General Fund for Insurance Premiums in
the Risk Management Program;
. An appropriation of $11,000 from the General Fund for the expanded
information systems network in the Information System Program;
. An appropriation of $75,000 from the General fund for temporary workers in the
Maintenance Department;
. An increase of $160,000 in the Building Permit/Plan Check fee revenue category
of the Building and Planning Fund;
. An appropriation of $150,000 from the Building and Planning Fund for
additional plan check contract services;
. An appropriation of $9,200 from the Building and Planning Fund to cover the
cost of reclassing the Building Permit Technician position to a Building Inspector
position;
. An increase of $686,987 in the Gas Tax fund for Prop IB revenues from the state;
. An appropriation of $16,050 from the Gas Tax Fund for an additional .5 FTE in
the Transportation Program;
. An appropriation of $10,000 from the LLAD Zone A fund for additional contract
services;
. An appropriation of $10,000 from the LLAD Zone B fund for additional contract
services;
. An appropriation of $70,000 from the Asset Replacement Fund for information
system upgrades and expansions and additional furniture and office remodel
expenditures;
. An accounting adjustment moving 1 FTE Maintenance Worker from the Streets
program to the Parks program, including reducing $54,892 of funding for
personnel from the Gas Tax fund and appropriating $27,446 of funding fro'm the
General Fund and $27,446 from theLLAD Zone D fund;
. An accounting adjustment funding .25FTE for $27,993 from the General Fund to
the c::ommunity Development Debt Service Fund;
.. An a.ccountingadjustment appropriating $600 from the Child Care Fllnd, $3,451
from the Community Development Agency Debt Service Fund, $1,839 froW the
Community Development Agency Low and Modera.te Income HousingFllnd
and $1,340 from the NERIADc::IP fund for overhead charges due to the General
Fund;
WHEREA.S, sufficient funding is available in the Town's funds; now, therefore, be it
RESOLVED, that the Danville Town Council approves the mid-yeara.djustments to the
Fiscal Year 2007-08 Financial Plan.
APPROVED, by the Da.nville Town Council at a regular meeting held on February 19,
2008, by the following vote:
AYES:
NOES:
ABSTAINED:
ABSENT:
And~rsen, Arnerich, Doyle, Shimansky, Stepp~r
None
None
None
CITY ATTORNEY