Title
Community Development Agency, Administration and Finance Division, recommending the Board:
1) Approve and authorize the Chair to sign a budget transfer adjusting various program budgets for Fiscal Year 2015/16 to accommodate projected expenditures based on current projections. This is a standard annual process taken to accurately reflect adjustments noted during the mid-Fiscal Year period (total transfer: $16,764,292); and
2) Approve and authorize the Chair to sign a budget transfer increasing revenues and appropriations in the Fleet Service budget by $97,061 in order to reimburse Fleet Services for the purchase of three vehicles totaling $97,061 for the new resident deputy positions. (4/5 vote required)
FUNDING: Various (see detail below).
Body
DEPARTMENT RECOMMENDATION
Community Development Agency, Administration and Finance Division, recommending the Board approve and authorize the Chair to sign a budget transfer adjusting various program budgets for Fiscal Year (FY) 2015/16 to accommodate projected expenditures based on current projections.
DISCUSSION / BACKGROUND
Community Development Agency Budget Transfer
As each fiscal year unfolds, actual activity can vary from the budget proposed by departments for a variety of reasons, including increased workload volume, unanticipated changes in project timing, award of grant funding, and refinement in funds available following the close of the prior fiscal year's accounting records. As standard practice, the Community Development Agency (CDA) proposes the Board make adjustments to its budget to best align with projected actual activity. The adjustments proposed maintain the total bottom line dollar amounts appropriated by the Board in its Adopted FY 2015/16 Budget.
Long Range Planning - HCED Affordable Housing
Budgeted Use of Fund Balance and Designations of Fund Balance both exceed the actual fund balance available on July 1, 2015; both budgeted amounts need to be reduced to reflect the actual amount...
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