PPT Item # 6 - FY2023.2024 Budget Amendment GF

Powerpoint FY2023.2024 Budget Amendment GF

1. ADMINISTRATION AND
FINANCE
Presented by:
Robert Galindo
Finance Director
BUDGET AMENDMENT FOR
FY 2023-24 ADOPTED BUDGET
ITEM # 6
SEPTEMBER 23, 2024

2. GENERAL FUND 2023-24 PROJECTIONS
•The estimated revenue over expenses for fiscal year ending
9-30-24 is $1,565,965
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FY 2023-24Adopted BudgetProjections
Revenues 12,469,015$ $13,774,331
Expenditures 12,391,761$ $12,208,366
Ending Balance 77,254$ $1,565,965

3. GENERAL FUND 2023-24 PROJECTIONS
City staff proposes using up to $1,550,000 of the
projected positive balance for a budget amendment for
additional transfers out of the General Fund
This amendment will add a transfer from the General Fund
to the Capital Replacement Fund, Street Maintenance Fund
and Comprehensive Fund for Beautification projects
including the gazebo being donated to the city to be
located at the dog park
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4. FINANCIAL AMENDMENT TO GENERAL
FUND TRANSFERS OUT TO:
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Amount
Comprehensive Fund - Beautification Projects 950,000$
Capital Replacement Fund 500,000 $
Street Maintenance Fund 100,000 $
Total 1,550,000$

5. POLICY ANALYSIS
The budget amendment is in line with sound financial
management practices to commit funds when possible for
community projects and replacement of capital equipment
Consistent with the Strategic Action Plan
Budget amendments between funds require Council
approval
Reviewed by the City Attorney and City Manager
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6. COUNCIL ACTION
An ordinance to amend the Fiscal Year 2023-2024
adopted budget for additional transfers from the General
Fund to the Street Maintenance Fund $100,000, Capital
Replacement Fund $500,000 and $950,000 to the
Comprehensive Fund for Beautification Projects
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