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HomeMy WebLinkAboutResolution 2011-82 Fiscal Year 2010 / 2011 Budget AmendmentsCITY OF PALM DESERT FINANCE DEPARTMENT STAFF REPORT Request: Adopt Resolution No. 2011- 82 authorizing the fiscal year budget amendment to provide transfer, appropriation and estimated revenues of unobligated funds from the gas tax, golf course capital, traffic safety, Properties City/RDA, Palm Desert Recreational Facilities Corporation (PDRFC), capital project reserve and the general fund as of June 30, 2011 Date: September 8, 2011 Contents: Resolution No. 2011- 82 Recommendation Waive further reading and adopt Resolution No. 2011- 82 Background Staff has completed a year-end analysis of 2010-2011 fiscal year budget and financial position of the City. The estimated revenues for the General Fund are $43.8 million versus estimated expenditures of $47.3 million. Of the $47.3 million, $5.5 million was reserve transfers requested by the Council (Reserve Policy adopted June 9, 2011 by Resolution No. 2011-45), leaving estimated operating expenditures of $41.8 million. The following is an explanation of either the increase in revenue or increase in appropriation for various funds: City Attorney 1,000 Actual cost of agreed.. retention fee Legal Services 87,000 Actual cost for legal services Finance 60,000 Cost of PERS and health benefits Information Tech 2,000 Cost of repairing computer hardware Insurance 7,000 Higher premiums for insurance Street light & traffic safety 30,000 Unanticipated traffic control box purchased due to damages Public Works Admin. 107,000 Transfer of staff from Planning & Community Development Storm Drain Maint. 22,000 Cleaning of additional storm drains Capital Outlay 150,000 Allocation of capital for various departments (year-end accounting process — GASB 34 Staff Report Approve Resolution Authorizing FY2010-2011 Budget Amendment for Appropriations September 8, 2011 Page 2 of 2 Gas Tax Fund 130,392 City received Highway Users Tax from the State of California that are being allocated to street resurfacing expenditures in General Fund Golf Course Capital 277,924 City received increase in revenues from the Starwood and Intrawest projects. Additional amounts are being allocated to the General Fund Traffic Safety 56,000 City estimated revenues were underestimated. The additional amount is being allocated to street maintenance for reimbursement to the General Fund Capital Project Reserve 20,000 To allocate funds for maintenance of City - owned properties (formerly Redevelopment property) PDRFC 451,000 New clubhouse anticipated revenue and expenditures were underestimated (expanded restaurant resulted in an increase in staffing and food costs) As part of the year-end process, the General Fund will carry over the following appropriations to FY 11-12: $1.3 million in street resurfacing; $225,000 for McCallum Theatre parking lot improvements; $118,000 for street striping; and $10,000 for parking lot maintenance. Fiscal Impact This resolution will allow the Director of Finance to make the budget adjustments and transfers for fiscal year 2010-2011 as of June 30, 2011. Submitted by: Approval: ul S. Gibson, Finance Director J hn M. Wohlmuth, City Manager CITY CTLAt� OX APP O D_,..,.. ;,//.......,�r,,rbENTLi'1f ,,,,w� REC lD OTHER AVES: ` /I/rt NOES: �.wMrrw�r�wrryy ABSEN'I't ..,......�........ ABSTAIN: VERIFIED BY: GAFinance\Niamh Ortega\Staff Reports\Budget & White p 5 ff1dM9' 1.1 k's Ofnes RESOLUTION NO. 2011- 82 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA AMENDING THE FISCAL YEAR 2010-2011 BUDGET TO PROVIDE TRANSFER, APPROPRIATION AND ESTIMATED REVENUES OF UNOBLIGATED FUNDS FROM THE GAS TAX, GOLF COURSE CAPITAL, TRAFFIC SAFETY, PROPERTIES CITY/RDA, PALM DESERT RECREATIONAL FACILITIES CORPORATION (PDRFC), CAPITAL PROJECT RESERVE AND THE GENERALFUND WHEREAS, it appears that certain funds will receive revenues in the 2010-2011 fiscal year that exceed the requirements for currently budgeted appropriation; and WHEREAS, it is desirable to appropriate said excess revenues from the Gas Tax, Golf Course Capital, Traffic Safety, Properties City/RDA, PDRFC, and Capital Project Reserve funds for the reimbursement of eligible street expenditures and service costs. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Desert, California, that the 2010-11 Budget is hereby amended by appropriating from the Unobligated Fund Balances of certain funds to the identified funds as follows: CHANGE FUND/DEPARTMENT INC/(DEC) REVISED APPROPRIATIONS General Fund: City Attorney 1,000 Adjustment for actual cost of City Attorney retention Legal 87,000 Actual cost for legal services Finance 60,000 Cost of PERS and health benefits Information Technology 2,000 Cost of repairing computer hardware Insurance 7,000 Higher premiums for insurance Police Services (500,000) Expenditures were less than budget Street light & traffic safety 30,000 Traffic control box purchased due to damages Public Works 107,000 Staff transfer from Planning & Community Development Street Maintenance (100,000) Storm Drain maintenance 22,000 Expenditures were less than budget Cleaning of additional storm drains Marketing (200,000) Expenditures were less than budget Resolution No. 2011- 82 Planning & Comm. Dev. (200,000) Staff transfer to Public Works Landscaping Services (175,000) Expenditures were less than budget Capital Outlay 150,000 Allocation of capital for various departments TOTAL GENERAL FUND(709,000) Appropriation of Expenditures for Various Funds Gas Tax Fund 211 130,392 Appropriate for street resurfacing program, reclass expenditure of $121,392 from the General Fund to the Gas Tax Fund for 10/11 street resurfacing program Golf Course Capital 277,924 Additional transfer out to General Fund from the fees Fund 441 collected by Starwood and Intrawest Capital Projects Reserve 20,000 Transfer out to Properties City/RDA Fund 451 to Fund 400 maintain City -owned properties Properties City/RDA 20,000 To maintain City -owned properties Traffic Safety Fund 210 56,000 Additional transfer out to General Fund for reimbursement of street maintenance expenditures Palm Desert Recreational 451,000 Increase in Labor and Food variable costs Facilities Corporation Increase in Estimated Revenues for Various Funds Traffic Safety Fund 210 53,000 Amount over estimated revenue Gas Tax Fund 211 492,963 Increase revenue for receipt of Highway Users Tax Fund proceeds received for street resurfacing. Funds replace Transportation Congestion Relief Funds from the start. PDRFC Fund 521 564,000 Increase in actual due to new club renovation 2 Resolution No. 2011- 82 PASSED, APPROVED AND ADOPTED by the City Council of the City of Palm Desert, California, at its regular meeting held on the 8ch day of September, 2011, by the following vote to wit: AYES: NOES: ABSENT: ABSTAIN: ATTEST: RACHELLE D. KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA JEAN M. BENSON, MAYOR 9