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• <br />� <br />EN HILLS <br />MEMORANDUM <br />DATE: May 9, 2011 <br />TO: Honorable Mayor and City Councilmembers <br />Patrick Klaers, City Administrator <br />� <br />FROM: Sue Iverson, Director of Finance and Administrative Service���" <br />SUBJECT: 2010 Budget Adjustments <br />Background <br />During the 2010 budget process, it was unclear as to what actual expenditures or <br />revenues the TCAAP Fund would have since the GSA was working on a bid process. At <br />that time, a budget was prepared for the TCAAP Fund with $70,000 of revenue coming <br />from contributions and donations — possibly from a developer; and $70,000 of <br />• expenditures in legal and other professional services. There were also funds identified in <br />the General Fund under the Administration department and the Planning and Zoning <br />department to cover any expenditures we might incur that would not be reimbursed. <br />Discussion <br />• <br />During 2010, the City incurred $17,666 worth of expenditures related to TCAAP. Since <br />there was no revenue source, a transfer from the General Fund needs to be made to that <br />fund to cover these expenditures. Attached is a listing of the adjustments needed to be <br />approved by the City Council effective December 31, 2010. <br />Requested Action <br />Approve a budget amendment to General Fund reducing expenditures by $17,666 in <br />Other Professional Services under the Planning and Zoning department and approve a <br />transfer from the General Fund to the TCAAP Fund of $17,666 effective December 31, <br />2010. <br />Page 1 of 1 <br />