HomeMy WebLinkAboutAGENDA REPORT 1993 1117 CC REG ITEM 08EITEM •
AGENDA REPORT 7O2PARK,
CITY OF MOORPARK C. "y C3.:n it t�'.
ACTION: a�
TO: Honorable City Council
FROM: Richard Hare, Deputy City Mana e t'y
DATE: November 8, 1993 (CC. Mtg. 11/1'7'/93)
SUBJECT: Consider Closing Budget Amendments for Fiscal
Year 1992/93
Discussion
KPMG has concluded their field work and have reviewed the trial
balances for fiscal year 1992/1993. Five funds have been
impacted by closing year entries and require budget amendments.
The Local Transportation - Streets Fund (Fund 11) exceeded
original budget estimates of activity due to the Tierra Rejada
Road widening project. The City will be reimbursed for much of
the costs associated with the relocation of utilities, however,
the City was required to advance the entire initial cost.
Currently, staff is closing the project and will seek
reimbursement from all of the involved utilities this fiscal
year.
The Community Development Fund (Fund 41) expenditures also
exceeded budget due to the change in treatment of developer
deposits. In previous years, all deposits were placed in a Trust
and Agency Fund until a service was rendered and then the deposit
was directly charged for the service. Generally accepted
accounting principles (GAAP) now dictate that the service be
expensed in the operating fund, in this case the Community
Development Fund, and that a transfer be recognized from the
Trust and Agency Fund to the operating fund. This provides a
clearer picture of the activity in an operating fund.
Staff is requesting an amendment of the budgeted expenditures for
the Municipal Pool (Fund 45), Art in Public Places (Fund 46) and
Bicycle /Equestrian Trails (Fund 47) to account for the transfer
to the Parks Improvement Fund (Fund 5). The original estimates
of the fund balances and therefore the amount of expenditure was
less than the actual amount available at year end to transfer to
the Park Improvement Fund.
Honorable City Count':;
November 8, 1993
Pace
The attached schedule reflects the deficit balances in the far
right hand column. You will note that over all funds, the City
established an expenditure budget of $19 million dollars and
expended $13 million.
Recommendation (Roll Call Vote Required)
Staff recommends amending the following fund expenditure budgets
to the following amounts:
Fund
Description
Original
Amount
Amended
Budget
Required
Budget
11
LTF- Streets
$1,042,660
$ 22,996
$1,065,656
41
Community
$ 909,227
$ 473,628
$1,382,854
Development
45
Municipal Pool
$ 21,192
$ 514
$ 21,706
46
Art in Public
$ 0
$ 45,037
$ 45,037
Places
47
Bicycle /Equestri
$ 24,384
$ 525
$ 24,909
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FUND
01 General Fund
51 Gann Fund
02 Traffic Safety
03 Gas Tax
05 Park Fund
07 Community Center
08 Capital Improvement Fund
11 Local Transportation Stre
12 Local Transportation Tran
13 State Transit Assistance
14 I.S.T.E.A.
15 TDA Article 3
16 TDA Article 8 B
18 CDBG Entitlement
20 Police Facilities
21 City Wide Traffic Mitigat
22 Affordable Housing
23 AD 84 -2 Lighting & Landsc
24 Traffic System Management
25 AD 85 -1 Parks Maintenance
26 Tierra Rejada /Spring AOC
2' LA Avenue AOC
28 Casy /Gabbert AOC
29 LA Avenue Alternate route
31 Equipment Replacement
33 Recreation
36 Land Conservation Act1988
35 Senior Center Bond Act
38 1986 Park Bond Act
39 Fiduciary
41 Community Development
43 Crossing Guards
45 Municipal Pool
46 Art in Public Places
47 Bicycle & Equestrian
50 Investment Earnings
70 Moorpark Redevelopment
Combined Totals
CITY OF MOORPARK
-SCHEDULE - -OF - EXPENDITUREBUDGET- -VS -ACTUAL
AS OF : 30Jun93
EXPENDITURE ACTUAL
BUDGET EXPENDITURES
UNDER(OVER)
BUDGET
4,441,211
(4,210,514)
230,697
192,446
(172,669)
19,777
1,485,301
(1,192,381)
292,919
1,945,300
(1,065,868)
879,432
14,426
(14,426)
1,042,660
(1,065,656)
(22,996)
759,500
(103,232)
656,268
36,000
36,000
122,500
(39,906)
82,594
564,470
(323,334)
241.136
2,000
(2,000)
670,76;;
1389,994)
280,769
68,000
68,000
433,134
(373,067)
60,067
457,000
113,723;
:,343,27;
007,007
;221,476)
785,531
2,061,177
(2,061,157)
21
91,900
(79,997)
11,903
59,400
(59,400)
909,227
(1,382,854)
(473,628)
8,407
(5,297)
3,110
21,192
(21,706)
(514)
(45,037)
(45,037)
24,384
(24,909)
(525)
1,876,250
---- - - - - --
(221,689)
---- - - - - --
1,654,561
19,293,655
(13,190,293)
---- - - - - --
6,103,362