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CITY COUNCIL AGENDA ITEM NO. 8

Meeting Date: January 23, 2001

Subject/Title: 2000/01 Mid-Year Budget Review and Recommended Budget Adjustments

Submitted by: Finance Department (Ehler)

Approved by: Jon Elam, City Manager


RECOMMENDATION
Approve a resolution approving amendments to the 2000/01 Budget.

PREVIOUS ACTION
None

BACKGROUND
May 23, 2000 the City Council approved budget adjustments for fiscal years 2000/01. Throughout the year unanticipated expenditures are incurred by purchasing facilities, annexation of more territory, creation of programs and commissions or simply an oversight during the budget process. In order to keep up with the fast pace of growth, in fiscal year 2000/01, additional funding requests have been made for costs that were not anticipated.

GENERAL FUND

Revenue projections are being increased by $270,000, from increases in Motor Vehicle-in-Lieu, Sales Tax, and Fines.. Departmental requests for additional funds are in the amount of $230,000. This would increase the Fund Balance by $40,000. It is projected the General Fund’s Fund Balance at June 30, 2001 will be $2,612,598, this is a Fund Balance equal to 22.87% of the annual General Fund expenditures. Included in the Fund Balance are Reserves for Compensated Absences, Pavement Management, and Facilities. These Reserves total $1,512,420, and when deducted from the Fund Balance the remaining Unreserved Fund Balance is $1,100,178, which is 9.63% of the annual expenditures.

PARK ENTERPRISE FUND

The only increase to the Parks and Recreation budget is the Park Commission salary increase of $6,000. The balance of the Parks and Recreation projected budget remains unchanged. Retained Earnings balance for June 30, 2001 is projected to be $8,654,908. This is larger due to the capitalization of the park assets. Actual cash balance for fiscal year end is projected to be $20,000.

SOLID WASTE ENTERPRISE FUND

No budget adjustments are needed at this time. Revenue and expenditures remain within budgeted projections. Retained Earnings for June 30, 2001 is estimated to be $483,054. Actual cash balance for fiscal year end is projected to be $250,000.


WATER ENTERPRISE FUND

No budget adjustments are needed at this time. Revenue and expenditures remain within budgeted projections. Retained Earnings for June 30, 2001 is estimated to be $3,010,052. Actual cash balance for fiscal year end is projected to be $50,000.


WASTEWATER ENTERPRISE FUND

No budget adjustments are needed at this time. Revenue and expenditures remain within budgeted projections. Retained Earnings for June 30, 2001 is estimated to be $3,350,842. Actual cash balance for fiscal year end is projected to be $35,000.

DEVELOPMENT SERVICES FUND
(Planning, Building and Engineering Departments)

Community Development
Revenues in this fund far exceed projections. 98% of the projected revenues were received within 5 months. Expenditure adjustments for the General Plan update, new vehicle, and Planning Commission salaries total $70,000. Retained Earnings for June 30, 2001 is estimated to be $1,204,733. Actual cash balance for fiscal year end is projected to be $1,750,000.

Engineering
Projected revenues in this fund were received within the first two months of the fiscal year. Expenditure adjustments for communications and vehicle maintenance total $4,500. Retained Earnings for June 30, 2001 is estimated to be $3,129,582. Actual cash balance for fiscal year end is projected to be $5,450,000.

CAPITAL IMPROVEMENT PROGRAM

The Capital Improvement Program is requesting an associate engineer and copier totaling $113,000.

Attachments
RESOLUTION NO.


A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRENTWOOD AMENDING THE 2000-2001 BUDGET FOR THE CITY OF BRENTWOOD


WHEREAS, the City Council of the City of Brentwood has reviewed the financial condition of the City of Brentwood; and

WHEREAS, the City departments have submitted requests for appropriations to fund the departmental programs to provide services for the City of Brentwood; and

WHEREAS, the City Council has reviewed these departmental requests for the expenditure of City funds; and 

WHEREAS, a duly noticed public hearing was held on January 23, 2001.

NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Brentwood hereby adopts the amendments to the 2000-2001 Budget for the City of Brentwood.

PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting held on the January 23, 2001 by the following vote:

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