Report Prepared by: Venus Rodriguez, Finance Officer
Title
SUBJECT: Mid-Year Budget Review for Fiscal Year 2019-2020 Including Requests for Approval of General Fund Supplemental Appropriations and Budget Amendments in Various Funds Totaling $214,500
REPORT IN BRIEF
Presents the Fiscal Year 2019-2020 Mid-Year Financial Report and seeks approval for General Fund Supplemental Appropriations and Budget Amendments in Various Funds totaling $214,500.
RECOMMENDATION
City Council - Adopt a motion:
A. Approving a Supplemental Appropriation from the unreserved, unencumbered General Fund balance in the amount of $14,500, transferring to Fund 024 Parks and Community Services and appropriating the same; and,
B. Approving a Supplemental Appropriation from the unreserved, unencumbered General Fund balance in the amount of $200,000, transferring to Fund 666 Workers Compensation and appropriating the same.
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 2018-19, a General Fund update for the current Fiscal Year 2019-20, and to request changes to the budget due to needs that have been identified since the budget was adopted on June 17, 2019.
Beginning Fund Balance July 1, 2019
The table below reflects the Fiscal Year 19-20 adopted budget assumptions compared to actual fund balance at June 30, 2019.
Fund
FY 2019-20 Actual Beginning Balance
FY 2019-20 Beginning Budget Balance
Savings or (Deficit)
General Fund
$10,945,139
$9,280,900
$1,664,239
Development Services
$1,548,903
$1,227,174
$321,729
Parks & Community Services
$236...
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