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HomeMy WebLinkAboutFin Budget Amendments FY2012-133*d of r Agenda Item No: Meeting Date: September 3, 2013 Department: FINANCE Prepared by: Mark Moses,, Interim Finance Director City Manager Approval. 1116WI 1 10 V M9 #_ -9 Wa R a I -1 Is" I I B-1 All I 119EM Ml . A 0 r 0 VA 9 1 - I- 1 0 1 t 01 Ull 0 -mw- _1Z RECOMMENDATION: ACCEPT REPORT AND ADOPT RESOLUTION AS PRESENTED. BACKGROUND: The fiscal year 2012-2013 City-wide budget was last amended by the City Council on July 1, 2013, as part of the preliminary year-end review that took place in June. These amendments focused on the General Fund and addressed the use of resources that were not part of the projections as adjusted at the mid -year review held on February 4, 2013. Later in July, the City received additional revenues associated with fiscal year 2012-2013 ), totaling approximately $1 M 19,000,, which included a significant reimbursement for legal fees. This reimbursement had not been anticipated until later in fiscal year 2013-2014; however,, the timing of its receipt qualifies it as fiscal year 2012-2013 revenue. Also, since the close of the fiscal year on June 30, 2013, staff has reviewed the revenues and expenditures in the funds outside the General Fund (e.g., special revenue funds and other purpose funds). This review has yielded a small number of adjustments that are clean up in nature. These adjustments are recommended by the City's outside auditors and their approval by the City Counc* provides for complete budget accountability. The purpose of these amendments is to formally authorize the expenditures and transfers required in certain funds to fulfill their respective purposes and functions through June 30, 2013. None of these amendments results in deficit spending in any of the subject funds. FOR CITY CLERK ONLY File No.:- Council!Vleeting:_ Disposition,., rq� At the June 18, 2013 City Council Study Session, staff identified available one-time funds totaling approximately $4.9 million for discussion, review and direction. These resources resulted from (1) the release of a $1.5 million general liability reserve, following a revision to reserve levels required to offset current risk-, (2) other one-time and limited term revenues and resources totaling $1.9 million that were identified after the mid -year budget review; and $1.5 million in discretionary funds accumulated in the retirement *internal service fund. City Council directed these funds to the areas of deferred maintenance,, technology enhancements, land and improvements, downtown improvements, watershed assessment district feasibility study, clearance and management of open space, supplementary code enforcement, and additional contributions to improve the funding of the retiree pension and medical plans. Additional funds that became available were to be allocated to vehicle replacement and major capital improvements. This direction was formalized by resolution After July 1, 2013, the City received a legal fee reimbursement of approximately $853,000, and recorded other fiscal year 2012-2013 revenues and resources of approximately $166,000, for a total of $1 M 19,000. Because this represents such a significant addition of general fund resources, staff has allocated $969,,000 to the General Fund Emergency and Cash Flow Reserve, in order to begin to rebuild the balance in that reserve. This is the first increase in that reserve since fiscal year 2007- 2008, a positive step in improving the City's financial position for the purpose of bond ratings and overall fiscal health. The remaining available funds of $50,000 were allocated to the vehicle replacement fund. Finally, the balance of $76,188 in the East San Rafael Drainage Special Assessment District #1 is being transferred to a capital project fund, in anticipation of identifying qualif�ing maintenance activities that will benefit this District. Non -General Fund The following table lists the expenditures through June 30 2013, for which funds need to be appropriated. The primary reasons for these changes include (1) unanticipated operational needs, and (2) underestimated expenditure amounts. Some expenditures were needed to provide services that were offset by fees, or other revenue sources. There were sufficient resources in each of these funds to support these expenditures, and none of the expenditures has an impact on the assumptions under which the fiscal year 2013-2014 budget was developed. As a result of making these changes, the City's financial statements for fiscal year 2012-2013 will reflect spending within the authorized levels. Fund Purpose of authorization Amount Funding Source ADA projects minor operating expenses $2,,321 revenues — grants Crime prevention spending from new donations $1,450 revenues - donations Gas Tax minor adjustment for presentation $164 revenues — gas tax Development Services airport EIR reimbursed from developer $36,300 revenues - reimbursements Childcare budget for grant and grant- C1 related expenses $68,254 revenues,, transfers and $10,000 Pre -K grant Falkirk grounds restoration $7,800 fund balance Library — Measure C temporary help $14!341 revenues - taxes Recreation budget for grant and misc. operations $30!1764 revenues, transfers and $14,999 Sr. Citizen grant Household Haz Waste hazardous waste program (passed on to JPA) $101,920 revenues — Joint Powers Authority Hazardous Mat' is minor adjustment for presentation $1J30 fund balance Parkland Dedication 1 Albert Field netting $8,500 revenues -tax Safety Grants CERT grant $25,917 revenues - grants Other Grants sustainability program $5,590 revenues - grants Pt. San Pedro Debt interest adjustment $6,541 revenues - assessments FISCAL IMPACT: This action authorizes the appropriation of additional resources in the 2012- 2013 fiscal year to support the actual expenditures through June 30, 2013 as described in this report. No additional spending authority is created through this action. RECOMMENDATION.- Staff recommends that City Council accept the report and adopt the Resolution as presented. ATTACHMENT Resolution Ilk RESOLUTION ADOPTING AMENDMENTS TO THE CITY OF SAN RAFAEL BUDGET FOR FISCAL YEAR 2012-2013 FOR THE PURPOSE OF CONFIRMING AUTHORIZED APPROPRIATIONS AND TRANSFERS WHEREAS, the City Council approved Resolution 13382 adopting the fiscal year 2012-2013 budget; and WHEREAS, the City Council approved Resolutions 13494 and 13568 amendirpw the fiscal year 2012-2013 budget; and WHEREAS, as part of the fiscal year-end closing process, staff has reviewed and analyzed actual revenues, expenditures and transfers through June 30, 2013, has identified a need for additional budget adjustments, and has submitted its analysis and recommendations in a report to the City Council; and WHEREAS, after examination, deliberation, and due consideration, the City Council has approved the same report and recommendations. NOW, THEREFORE, BE IT RESOLVED, by the San Rafael City Council that Resolution 13382 for fiscal year 2012-2013 is further amended to authorize the following adjustments to appropriations and transfers, which are reflected in the Consolidated Funds Schedule (Exhibit 1): a Tim Dqspr- !p�ion ADA Projects minor operating expenses $2,321 Crime Prevention ending from new donations a0justment for presentation purposes Development Services er airport EIR reimbursed from develope. Childcare Falkirk groun ds restoration Libra — Measure C temporary help E � M Recreation bud et for grant and misc. operations 9 3 17 Household Haz Waste Hazardous Materials Parkland Dedication Safety Grants Other Grants Pt. San Pedro Debt a djustment for presentation purposes Albert Field netting CERT grant sustainability program interest adjustment 51590" Transfer $76,188 from the General Fund to the Assessment District capital projects fund for the East San Rafael Drainage Special Assessment District #1. 1, ESTHER C. BEIRNE, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the Council of said City on Tuesday, the 3rd of September 2013, by the following vote, to wit: ESTHER C. 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SRRA / SRCC AGENDA ITEM NO. 3, d DATE OF MEETING: September 3,2013 FROM: Mark Moses TITLE OF DOCUMENT: RESOLUTION ADOPTING AMENDMENTS TO THE CITY OF SAN RAFAEL BUDGET FOR FISCAL YEAR 2012-2013 FOR THE PURPOSE OF CONFIRMING AUTHORIZED APPROPRIATIONS AND TRANSFERS Department Head (signature) % %.f AGENDA ITEM: City Manager (signature) REMARKS: www (LOWER HALF OF FORM FOR APPROVALS ONLY) APPROVED AS TO FORM: City Attorney {signaturef