Report Prepared by: Venus Rodriguez, Finance Officer
Title
SUBJECT: Mid-Year Budget Review
REPORT IN BRIEF
FY 17-18 Mid-Year Financial Report and Budget Adjustments
RECOMMENDATION
City Council - Adopt a motion:
A. Adopting Resolution 2018-07, Resolution of the City Council of the City of Merced, California Amending the Salary Range for the Position of Fabrication Technician/Storekeeper; and
B. Adoption Resolution 2018-08, Resolution of the City Council of the City of Merced, California Amending the Salary Range for the Position of Finance Liaison; and
C. Approving a Supplemental Appropriation in the amount of $50,000 from Fund 061 Measure C for the purchase of fire nozzles; and
D. Approving the addition of a Housing Specialist position in Fund 070 Housing Administration and allowing the Interim Finance Officer to make the necessary budget adjustments.
Body
ALTERNATIVES
1. Approve, as recommended; or
2. Approve, subject to other than recommended (identify specific findings and/or conditions amended to be addressed in the motion; or
3. Deny; or
4. Continue to a future meeting (date and time to be specified in the motion).
AUTHORITY
Charter of the City of Merced, Section 1105
DISCUSSION
The purpose of this agenda item is to provide the City Council with a reconciliation on how the City ended Fiscal Year 2016-17, a General Fund update for the current Fiscal Year 2017-18, and to request changes to the budget due to needs that have been identified since the budget was adopted on June 19, 2017.
Beginning Fund Balance July 1, 2017
The table below reflects the Fiscal Year 17-18 adopted budget assumptions and is compared to actual fund balance at June 30, 2017.
Fund
FY 2017-18 Actual Beginning Balance
FY 2017-18 Beginning Budget Balance
Savings or (Deficit)
General Fund
$10,326,931
$9,889,464
$437,467
Development Services
$ 512,708
$ 512,708
$ 0
Parks & Community Services
$ 69,379
$ 76,593
$ ( 7,214 )
A...
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