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HomeMy WebLinkAboutRes 2013-07 - Amnd FY Bdgt 12-13 Mid Yr Adjstmnts CITY OF PALM DESERT FINANCE DEPARTMENT Staff Report Request: Approval of Resolution No. 2013-0� amending the fiscal year 2012-2013 budget as a result of mid-year adjustments. Date: February 14, 2013 Contents: Resolution 2013-0� Amending the Fiscal Year 2012-13 Budget. Recommendation By Minute Motion, approve Resolution 2013-0� amending the Fiscal Year 2012-2013 budget as a result of mid-year adjustments. Backaround 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 $45,601,100 (same as previously approved by City Council with the following changes: sales tax +$700,000, Transient Occupancy Tax +$300,000, Property Tax from Successor Agency -$447,000) versus estimated expenditures of $45,222,542 (higher expenditures to original budget due to staff recommended budget changes outline below). Mid-Year Oriqinal Budqet Revised Budqet Revenues $45,048,100 $ 45,601,100 Expenses $45,044,042 $ 45,222,542 The following are increases made by staff due to mid-year budget review of expenses. • $30,000 — Increase in professional engineering account for remaining fiscal year needs to carryout plan check services. • $95,000 —Additional unexpected costs for litigation services • $4,000 —Telephone (Cell/Pagers/Radios) Account - Monthly fees and repairs due to equipment and program changes: • $30,000 —Advertising media buys as authorized by City Manager Staff Report Approval of Resolution No. 2013-0� - amending FY 2012-2013 budget February 14, 2013 Page 2 of 2 • $12,500 — Streets Maintenance overtime due to unforeseeable events and special callouts • $7,000 — Landscape services overtime for after-hour coverage on Fridays and holidays • $30,000 — EI Paseo BID advertising Fiscal Impact Approval of Resolution No. 2013- will result in budget adjustments to the General Fund in the amount of $178,500 and the EI Paseo Merchant BID Fund in the amount of $30,000 for the fiscal year 2012-2013. Submitted By: Approval: Paul S. Gibson, Finance Director J hn M. Wohlmuth, City Manager CITY COUNCILAC'�ION APPROVED � DENIFD RE EIVED OTHER 0� MEET G DATE a—/ - l AYES: � � NOES: ABSENT; ABSTAtN: VF,RIFIED BY: Original on File with City erk's Office RESOLUTION NO. 2013A� A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2012-13 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 2012-13 Budget; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Desert, California, that the 2012-13 Budget is hereby revised as follows: 1. The amounts shown in the column entitled "Revised Appropriations" in the table entitled "City of Palm Desert, Mid-Year 2012-13 Budget Review, Revised Appropriations Operating Budget", attached hereto as Exhibit "A", are hereby appropriated to the departments, activities and projects identified therein as the Operating Budget for 2012- 13. 2. The amounts shown in the column entitled "Revised Estimated Revenue" in the table entitled "City of Palm Desert, Mid-Year 2012-13 Budget Review, Revised Estimated Revenues", attached hereto as Exhibit "B", are hereby accepted as the Estimated Revenues for the 2012-13 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 14th day of February, 2013, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: JAN C. HARNIK, MAYOR ATTEST: RACHELLE D. 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