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m-'p •V. <br />r- <br />TO: <br />K.* <br />II# <br />#l-‘P;P-. <br />psrW' 'mr <br />I'V'-r <br />h"- <br />PROM: <br />May<tf Peterson and Oronu City Council <br />S <br />Ron Moorse, City Administrator <br />h. <br />% <br />DATE:May 20, 1992 <br />SUBJECT: 1991 Budget Adjustments <br />^1^ <br />KV-ScW;*!.; <br />■ <br />The City Council at its May 13th work session reviewed a recap of the <br />1991 expenditures and revenues. Both revenues and expenditures in the <br />General Fund were under budget. Expenditures were $139,375.00 less <br />than anticipated. Revenues were $192,700.00 less than anticipated. <br />This resulted in a shortfall of revenues versus expenditures of <br />$53,325.00. It is recommended that this shortfall be addressed <br />through a transfer of $53,325.00 from the General Fund Reserve. <br />In addition to adjusting the revenue shortfall, there are a number of <br />budget adjustments needed to reflect the actual 1991 revenue and <br />expenditure levels. Please see the attached summary of 1991 budget <br />adjustments . <br />Council action requested: Motion to approve the budget adjustments as <br />presented and to authorize the use of $53,325.00 from the General Fund <br />Reserve to offset the General Fund revenue shortfall. <br />ch <br />I <br />iss' . <br />■■■. <br />pw#- <br />i <br />V <br />i <br />I <br />1