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<br />~ <br />~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: April 25, 2008 <br /> <br />TO: Honorable Mayor and City Council <br />Jim Willis, Interim City Administrator <br /> <br />FROM: Sue Iverson, Finance Director ~ <br /> <br />SUBJECT: 2007 Budget Adjustments <br /> <br />BackgroundJDiscussion: <br /> <br />As a general housekeeping item, staff requests that the Council formally approve the budget adjustments <br />on the attached list effective 12/31/07. These are items that either were reclassified during the chart-of- <br />account changes or have been previously approved by the Council. Staff is requesting that a formal <br />motion be made for financial reporting purposes. <br /> <br />All adjustments are listed on the attached list with explanations for the adjustments. These are the major <br />items that need budget adjustments for reporting purposes. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends Council make a motion to approve the 2007 budget adjustments in the amount of <br />$788,000 to revenue accounts and $393,382 to expenditure accounts for General Fund and Special <br />Revenue Funds effective 12/31/07 as presented on Attachment A. <br />