TITLE
Recommendation to approve the Fiscal Year 2005 fourth quarter departmental and fund budget appropriation adjustments in accordance with existing City Council policy. (Citywide)
DISCUSSION
On September 17, 2004, the City Council adopted the Appropriations Ordinance governing City expenditures for Fiscal Year 2005 (FY 05). From time to time, changes in revenue or operating conditions call for appropriation adjustments. In some cases, these changes enable departments to expend newly received grant revenue for which there is no existing appropriation. In addition, changes for multi-year grantdprojects are necessary to bring appropriations in line with final grantlproject award amounts. In accordance with existing City Council policy, various adjustments are presented quarterly to the City Council for consideration. The fourth quarter appropriation adjustment requests for FY 05 are listed
below alphabetically by department. Please see Attachment A for a Fund Balance Analysis of impacted City funds. This letter was reviewed by Assistant City Attorney Heather A. Mahood on September 13, 2005.
TIMING CONSIDERATIONS
The following requests for adjustments to FY 05 departmental and fund appropriations are necessary to reflect changes in operating conditions. City Council action is requested on September 20, 2005, as these adjustments must be made before the end of the fiscal year on September 30,2005.
FISCAL IMPACT
COMMUNITY DEVELOPMENT
The Long Beach Housing Authority receives Housing Assistance payments from the Department of Housing & Urban Development (HUD), which it administers and disperses as monthly rental assistance to enrolled Section 8 tenants. The amount received by the City
exceeded initial estimates. An appropriations increase is requested to receive and expend the funds to cover program expenses.
Increase appropriations in the Housing Authority Fund (SR 151) in the Community Development Department (CD) by 1,000,000.
Due to the increase in the ...
Click here for full text