TITLE
Recommendation to approve the Fiscal Year 2007 third quarter departmental and fund budget appropriation adjustments in accordance with existing City Council policy. (Citywide)
DISCUSSION
On September 19, 2006, the City Council adopted the Appropriations Ordinance governing City expenditures for Fiscal Year 2007 (FY 07). From time to time, changes in revenue or operating conditions call for appropriation adjustments. For example, in some cases these adjustments enable departments to expend newly received grant revenue for which there is no existing appropriation. In addition, changes for multi-year grants/projects are necessary to bring appropriations in line with final grant/project award amounts. In accordance with the City's practice, these adjustments are presented quarterly to the City Council for consideration. Please see Attachment A for a Fund Balance Analysis of impacted City funds and Attachment B for a recap of FY 07 General Fund Budget Adjustments.
This letter was reviewed by Assistant City Attorney Heather A. Mahood on July 13, 2007.
TIMING CONSIDERATIONS
The following requests for adjustments to FY 07 departmental and fund appropriations are necessary to reflect changes in operating conditions. City Council action is requested on July 24, 2007 to authorize the timely processing of payments.
FISCAL IMPACT
Community Development
The Department of Parks, Recreation and Marine has requested the services of the Project Development Bureau of Community Development to provide specialized project management services for improvements to the Colorado Lagoon. The Colorado Lagoon Improvement Project will require the management of complex and layered components involving multiple outside agencies and grant sources. Since these additional expenses are currently unbudgeted, an appropriation increase is being requested. The funding source for these expenses will be Tidelands Operating Funds, and has no impact on the General Fund.
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