HomeMy WebLinkAboutRes 95-69 FY 1994-95 Budget Amendment CITY OF PALM DESERT
INTEROFFICE MEMORANDUM
DATE: August 24, 1995
TO: Honorable Mayor and Members of the City Council
FROM: Paul Gibson, Director of Finance/City Treasurer
SUBJECT: RESOLUTION AUTHORIZING THE FISCAL YEAR 1994-95
BUDGET AMENDMENT TO PROVIDE TRANSFER OF UNOBLIGATED
FUNDS FROM THE TRAFFIC SAFETY, GAS TAX, ART IN
PUBLIC PLACES AND GENERAL FUND.
RECOMMENDATION:
Staff recommends that the Council approve Resolution No. 95-69 amending the
1994-95 budget to provide transfer of unobligated funds from the Traffic Safety,
Gas Tax, Art in Public Places and General Fund as of June 30, 1995.
DISCUSSION:
It is in the City's best interest to appropriate estimated unobligated balances
from the Traffic Safety, Gas Tax, Art in Public Places and the General Fund for
reimbursement of eligible street maintenance expenditures and to establish
reserves for maintenance of art pieces and future replacements of equipment.
These transfers are therefore prudent and have been considered in preparing the
funding alternatives proposed in the 1994-95 budget.
This resolution will allow the Director of Finance to make the budget adjustments
for fiscal year 1994-95 and the transfers as of June 30, 1995.
Respectfully submitted, Reviewed and concur:
Paul S. Gibson amon A. Diaz
Director of Finance/ Acting City Manager
City Treasurer
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