HomeMy WebLinkAboutRes 05-50 FY 2004/05 Budget Amndmnt to Provide Transfer, Appropriation & Estimated RevenuesCITY OF PALM DESERT
FINANCE DEPARTMENT
STAFF REPORT
REQUEST: APPROVE RESOLUTION NO. 05-50 AUTHORIZING THE
FISCAL YEAR 2004-2005 BUDGET AMENDMENT TO PROVIDE
TRANSFER, APPROPRIATION AND ESTIMATED REVENUES OF
UNOBLIGATED FUNDS FROM THE TRAFFIC SAFETY, GAS
TAX, INTERNAL SERVICE AND GENERAL FUND AS OF JUNE
30, 2005
DATE: JUNE 23, 2005
CONTENTS: RESOLUTION NO. 05-50
RECOMMENDATION:
By Minute Motion, that the City Council approve Resolution No. 05-50
amending the 2004-05 budget to provide transfer, appropriation and
estimated revenues of unobligated funds from the Traffic Safety, Gas Tax,
Internal Service and General Fund as of June 30, 2005.
BACKGROUND:
It is in the City's best interest to appropriate estimated unobligated balances from the
Traffic Safety, Gas Tax, Internal Service and General Fund for reimbursement of eligible
street expenditures, and to transfer replacement cost to the City's Internal Service Fund.
This resolution will allow the Director of Finance to make the budget adjustments for
fiscal year 2004-05 and the transfers as of June 30, 2005.
Submitted By:
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Paul S. Gibt,DDirec of Finance/City Treasurer
Approval:
Carlos L. Ortegity Manager
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RESOLUTION NO. 05-50
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA AMENDING THE FISCAL YEAR 2004-05 BUDGET
TO PROVIDE ADDITIONAL APPROPRIATIONS FROM THE TRAFFIC
SAFETY, GAS TAX, INTERNAL SERVICE AND THE GENERAL FUND
WHEREAS, it appears that certain funds will receive revenues in the 2004-05 fiscal
year that exceed the requirements for currently budgeted appropriation, and
WHEREAS, it is desirable to appropriate said excess revenues from the Traffic
Safety, Gas Tax, Internal Service and General Fund for reimbursement of eligible street
expenditures and replacement costs.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm
Desert, California, that the 2004-05 Budget is hereby amended by appropriating from the
Unobligated Fund Balances of certain funds to the identified funds as follows:
1. The transfer out from the General Fund to the Internal Service fund for
vehicle replacement:
Vehicle Replacement $213,000
2. From the Traffic Safety Fund to the General Fund to reimburse for street
maintenance performed.
Estimated amount plus interest $209,000
3. From the Gas Tax Fund to the General Fund to reimburse for street
maintenance performed.
Estimated amount plus interest $944,000
Resolution No. 05-50
Page 2
June 23, 2005
PASSED, APPROVED and ADOPTED by the City Council of the City of Palm Desert,
California, at its Regular Meeting held on the 23rd of June, 2005 by the following vote, to
wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
BUFORD A. CRITES, MAYOR
ATTEST:
RACHELLE KLASSEN, CITY CLERK
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