HomeMy WebLinkAbout054-2013RESOLUTION NO. 54-2013
APPROVING AMENDMENTS TO THE
FISCAL YEAR 2012/13 OPERATING BUDGET
WHEREAS, all revenue and expenditure projections, which were made in preparing
the Fiscal Year 2012/13 Operating Budget, have been reviewed at the Annual Town
Council Workshop in February and the Budget Study Sessions in May; and
WHEREAS, the following adjustments to the Fiscal Year 2012/13 Operating Budget are
recommended to reflect changes in revenues, reflect increased expenditure needs and
continue balancing expenditures with available revenues and reserves:
• An increase of $500,000 in Property Tax revenues in the General Fund;
• A decrease of $170,000 in Charges for Service revenues in the General Fund;
• An increase of $428,038 in the Charges for Services revenue category of the
Engineering Fund;
• A decrease of $654,368 and $90,000 in the RPTTF and Use of Money revenue
categories, respectively, of the Successor Agency fund;
• An increase in expenditures of $45,930 of General Fund funds in the City
Attorney program for Outside Counsel;
• An increase in expenditures of $29,000 of Gas Tax funds in the Transportation
program for Traffic Signal Maintenance;
• An increase in expenditures of $73,349 of General Fund funds and $73,349 of
LLAD Zone D funds in the Parks program for water;
• An increase in expenditures of $25,162 of LLAD Zone A funds and $39,741 of
LLAD Zone B funds in the Roadsides program for water;
• A reduction of Transfers for Capital Projects and a corresponding increase to
Transfers for Operations from the General Fund to LLAD Zone A of $60,776,
Zone B of $39,740, and Zone D of $146,697.
• A reduction of $800,000 of General Fund fund balance specified as Designated
for Other.
• A decrease of $800,000 in transfers to the Town from the Successor Agency;
• A decrease in expenditures of $729,782 in the Successor Agency fund; and
WHEREAS, sufficient funding is available in the Town's funds; and
WHEREAS, GASB 54 requires classification of all fund balances at the close of the fiscal
year; now, therefore, be it
RESOLVED, that the Danville Town Council approves the amendments to the Fiscal
Year 2012/13 Operating Budget; and be it further
RESOLVED, that any FY 2012/13 General Fund revenues plus transfers -in, minus
expenditures and transfers -out, plus other sources and uses, will be designated for
specific uses by the Town Council when the amounts are known.
APPROVED, by the Danville Town Council at a regular meeting held on June 4, 2013,
by the following vote:
AYES:
NOES:
ABSTAINED:
ABSENT:
Arnerich, Storer, Doyle, Morgan, Stepper
None
None
None
APPROVED AS TO FORM:
CITY ATTORNEY
ATTEST:
CITY
PAGE 2 OF RESOLUTION 54 -2013
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