Minutes 04/24/2007 - Laserfiche WebLink

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April 24. 2007 Background: . Expenditure appropriations totaling $2,806,016 are needed in the General Fund for operating transfers: (1) $1,809,406 of additional local funding from the General Fund must be transferred to the Social Services Fund to ensure full state reimbursement is received for all locally provided program costs for FY 2006-2007. Total estimated revenues and expenditure appropriations must also be increased by $$1,809,406 in the FY 2006-2007 Social Services Fund Operating Budget. (2) $996,610 of additional local funding from the General Fund must be transferred to the Comprehensive Services Fund to ensure full state reimbursement is received for all locally provided program costs for FY 2006-2007. Total estimated revenues and expenditure appropriations must also be increased by $996,610 in the FY 2006-2007 Comprehensive Services Operating Budget. . Additional expenditure appropriations totaling $5,312,107 are also needed in the General Fund to cover salaries, benefits and other operating costs expected to exceed current budgeted levels for FY 2006-2007. . Additional CIP expenditure appropriations totaling $455,000 are needed in the First College capital project for FY 2006-2007. Discussion: . The collection of additional estimated revenues totaling $8,118,113 is currently expected to fund the additional expenditure appropriations needed in the FY 2006-2007 General Fund Operating Budget. . Interest earnings from the investment of bond sale proceeds will fund the additional $455,000 needed for First College educational capital project expenditures in the FY 2006-2007 Capital Projects Fund Budget. Financial Impact: . The total estimated revenues and expenditure appropriations in the FY 2006- 2007 General Fund and Capital Projects Fund will increase by a total of $8,118,113 and $455,000, respectively. Staff Recommends: Adoption of four proposed ordinances. Vision Principle: A Robust and Prospering Economy. Next Steps Following Council Action: . The CFO will ensure all necessary budget actions are processed immediately upon adoption of the ordinance. Motion by Mr. Heretick, and seconded by Ms. Randall, to adopt the following ordinance, and was adopted by the following vote: 07-197(1): "ORDINANCE APPROPRIATING $8,118,123 IN THE FY 2006-2007 GENERAL FUND AND AUTHORIZING THE TRANSFER OF $1,809,406 TO THE FY 2006-2007 SOCIAL SERVICES FUND, AND $996,610 TO THE FY 2006-2007 COMPREHENSIVE SERVICES ACT FUND." Ayes: Heretick, Moody, Psi mas, Randall, D. Smith, R. Smith, Holley Nays: None Motion by Mr. R. Smith, and seconded by Mr. Heretick, to adopt the following ordinance, and was adopted by the following vote: