HomeMy WebLinkAbout4E, 2009 Budget Adjustments� EN HILLS .
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Prepared By: Sue Iverson, Finance Director/Treasurer : Council Meeting Date: July 12, 2010
2009 Budget Adjustments
Budgeted Amount: Actual Amount: Funding Source:
$140,000 $173,940 Various Funds — see attached
Recommendation:
Approval of the proposed budget amendments for FY 2009 effective December 3 l, 2009 as presented.
Supporting Documentss
• Memorandum dated July 12, 2010 from Finance Director Sue Iverson.
EN HILLS
�.
MEMORANDUM
DATE: July 12, 2010
TO:
FROM:
SUBJECT:
Honorable Mayor and City Council Members
Sue Iverson, Finance Director/Treasurer
2009 Budget Adjustments
Back�round
As a clean up item in regards to the audit, there are some budget adj ustments that need to
be made effective December 31, 2009. I have reviewed these with our auditor and they
are the final items needed to close out our audit.
Discussion
The items come from three areas. First, we have settled our TCAAP expenditure
reimbursement receivable with R:RLD and we have had some additional expenditures on
the proj ect. We continue to keep these expenditures segregated in a separate fund so that
we can track these items for future possible reimbursements depending on ho� ��
develop and �nance the area. We did have some extra funds budgeted in Administration
and Planning and Zoning to help cover some of these costs, the remainder of the costs
will need to come from our General Fund balance. They are as follows:
Fund Dept Type Adopted Amended Diff
General Admin Legal Fees $ 20,000 $ 8,796 $(11,204)
General Planning Legai Fees 69,000 4,764 (64,236)
General Transfers Trans TCAAP - 123,696 123,696
$ 89,000 $ 137,256 $ 48,256
This will mean a corresponding adjustment to the TCAAP fund for the transfer in:
Fund Dept Type Adopted Amended Diff
TCAAP Trans In $ - $ 123,696 $123,696
Second, gambling revenues have been down and we do not have enough funds to do the
budgeted transfer from the Community Services Fund to the Public Safety Capital Fund.
City Council Meeting
\�1Vletro-inet.us\ardenhills�Admin\Council�Agendas & Packet Information�2010\7-12-10 Regular�Packet
Information�2009 Budget Adjustments.doc
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The budgeted transfer was for $50,000, the monies available in the fund for transfer were
$20,000.
The last item results from the budget process when we adopted the 2009 budget. We
changed some of the planned transfers on the expenditure side and missed the
corresponding revenue side adjustments. They are as follows:
Fund Dept Ty_pe Adopted
EDA General Trans In $ 25,000
Equip,Bldg Cap Trans In General Fund $ 50,000
Equip,Bldg Cap Trans In Enterprise Funds $154,000
The following is a summary of the adjustments in total.
Budqet Adiustments - FY 2009
Revenue
Fund
TCAAP
Public Safety Cap
EDA General
Equip,Bldg Cap
Equip,Bldg Cap
Dept
Type
Trans In
Trans In
Trans In
General Fund
Enterprise Funds
Amended Diff
$ 15, 000 $ (10, 000)
$ 40,000 $ (10,000)
$ 132, 500 $ (21, 500 )
Adopted Amended Diff
$ - $ 123,696 $123,696
50,000 20,000 (30,000)
25,000 15,000 (10,000)
50,000 40,000 (10,000)
154,000 132,500 (21,500)
Trans In
Trans In
Total Revenue Adjustments
Expense
Fund
�eneral
General
General
Community Sery
$279,000 $ 331,196 $ 52,196
Dept Type Adopted Amended Diff
Admin Legal �ees $ 20,000 $ 8,796 $ (11,204)
Planning Legal Fees 69,000 4,764 (64,236)
Transfers Trans TCAAP - 123,696 123,696
Trans to PS 50,000 20,000 (30,000)
Total Expense Adjustments $139,000 $ 157,256 $ 18,256
For Council's information, unaudited financials show that our General Fund balance
decreased by $28,506 after all the TCAAP transactions have been booked. The General
Fund balance would have increased by $95,191 had we not had the transfer out to the
TCAAP Fund. Unaudited financial reports will be available by the next City Council
meeting.
Council Action
Approve the proposed budget amendments for FY 2009 effective December 31, 2009 as
presented.
City Council Meeting
\�1Vletro-inet.us\ardenhills�Admin\Council�Agendas & Packet Information\2010\7-12-10 Regular�I'acket
Information\2009 Budget Adjustments.doc
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