HomeMy WebLinkAboutResolution 2012-06 Amendment FY 2011/2012 Budget - Mid-year AdjustmentsCITY OF PALM DESERT
FINANCE DEPARTMENT
Staff Report
REQUEST: Adopt Resolution No. 2012- 06 amending the fiscal year 2011-2012 Budget as
a result of mid -year adjustments.
DATE: February 9, 2012
CONTENTS: Resolution 2012-06 Amending the Fiscal Year 2011-12 Budget.
Recommendation
Waive further reading and adopt Resolution 2012- 06 amending the fiscal year
2011-2012 budget as a result of mid -year adjustments.
Background
Staff has completed a mid -year analysis of the current budget and financial position of the City.
The estimated revenues for the General Fund are $43.856 million as previously approved by City
Council with the following adjustments:
Revenue
Sales Tax
Transient Occupancy Tax
Timeshare Mitigation Fee
Triple Flip ERAF
Eliminate RDA reimbursement
Net change to original budget
Increase / (Decrease
$ 400,000
500,000
200,000
200.000
(1,300,000)
$ 0
Estimated expenditures are $44.031 million, an increase to the original budget due to
staff -recommended budget changes outlined below:
Expenditures
Increase to Community Development professional account
to cover unexpected costs such as annexation study,
staff overtime for occupy protests, and completion of
Housing element
Repair & Maintenance: Landscape services based on actual
costs of contractors
Additional cost for staff overtime in Landscape services
budget.
Increase in professional engineering account for remaining
fiscal year needs to carry out plan check services
Net change to original budget
Increase / (Decrease)
$ 15,800
95,441
8,300
30,000
$ 149,541
Staff Report
Approval of Resolution 2012- 06 Amending the Fiscal Year 2011/2012 Budget
February 9, 2012
Page 2 of 2
In summary, the adjustments to revenues and expenditures from the original budget are as follows:
Mid -year
Original Budget Revised Budget
Revenues $ 43,856,000 $ 43,856,000
Expenditures $ 43,882,235 $ 44,031,776
Fiscal Impact
Approval of Resolution No. 2012- 06 will result in budget adjustments to the General Fund in
the amount of $149,541 for the fiscal year 2011-2012.
Submitted By:
2-
aul S. Gibson, Finance Director
Approval:
M. Wohlmuth, City Manager
C M COUNCIL At `ION
APPROVED. DENTED ..`
RECEIVED OTHER _ 7777_ .
MEETING DAT
AYES:
NOES: 616"e ,
ABSENT: &knJ--
ABSTAIN:
VERIFIED BY: /
Original on File with City
k's Office
G:\Finance\Niamh Ortega\Staff Reports\Mid Year 2011-2012 Budget 020912.docx
RESOLUTION NO. 2012- 06
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2011-2012
BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS
WHEREAS, as a result of a mid -year review of the budget, it is desirable to
revise the Fiscal Year 2011-2012 budget.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm
Desert, California, that the Fiscal Year 2011-2012 budget is hereby revised as follows:
1. The amounts shown in the column entitled "Proposed Budget Adjustment" in the
table entitled "City of Palm Desert Mid -Year Budget Adjustments, Fiscal Year 2011-
2012", attached hereto as Exhibit "A", are hereby appropriated to the departments,
activities and projects identified therein as the Operating Budget for FY 2011-2012.
2. The amounts shown in the column entitled "Proposed Budget Adjustment" in the
subtable entitled "Revenue Adjustments" on Exhibit "A", are hereby accepted as the
estimated revenues for the 2011-12 Fiscal Year for each fund and revenue source.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm
Desert City Council held on this _ day of February, 2012, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
ROBERT SPIEGEL, MAYOR
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
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