05-13-1996 Council Packet - Laserfiche WebLink

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Request for Council Action continued Page 3 of 3 May 10, 1996 1995 Budget Sununary and Adjustments F.Special Services . The Special Services account expenditures exceeded the budgeted amount by $11,225. This was mainly due to legal and engineering services related to development activities. Because the level of development activity was high in 1995, the legal and engineering serv ices were also high. These expenditures are passed onto the developers in the form of application fees. These additional fees are reflected in the increased level of General Fund revenues. In order to balance these expenditure adjustments in terms of the total budget, it is also necessary to adjust the Street Maintenance, Contingency, and Finance budgets to reflect their actual expenditures being under budget by a combined amount of $77,910, The Street Maintenance expenditures were under budget by approximately $51,000 due mainly to the Street Maintenance Supplies and Contracted Street Maintenance expenditures each being approximately $16,000 under budget and the Equipment Rental expenditures being $12,500 under budget. The Contingency account was under budget by $38,000 due to a low level of expenditures related to the Highway 12 Corridor issue One additional adjustment needed in the General Fund budget is necessary to enable $20,000 to be placed into the Improvement and Equipment Outlay Fund for future fire equipment needs. This can be done by reducing the Fire Expenditure budget by $20,000 and increasing the Contingency budget by $20,000; then transferring the $20,000 from the General Fund Contingency account to the Improvement and Equipment Outlay Fund. COUNCIL ACTION REQUESTED: Motion to approve the budget adjustments and transfers above for the 1995 General Fund budget.