HomeMy WebLinkAboutAgenda Report - April 15, 1998 (48)AGENDA TITLE: Approve the 1997-98 Budget Reductions of $134,500
MEETING DATE: April 15, 1998
PREPARED BY: Finance Director
RECOMMENDED ACTION: Council approves the 1997-98 Budget Reductions of $134,500.
BACKGROUND INFORMATION: The overall goal of the City's Financial Plan and Budget is to
establish and maintain effective management of the City's resources. Since the City adopts a two-year
Financial Plan and Budget the approved budget policies allow for a semi-annual review by Council. If
necessary Council can amend appropriations following this review.
At the March 24, 1998 "shirtsleeve" session a mid -year review of the 1997-99 adopted Financial Plan and
Budget was presented. The City Manager recommended $134,500 in minor reductions to the 1997-98
approved appropriation levels in the General Fund. These reductions were recommended to ensure the
projected ending fund balance remains on target of 15% of operating expenditures. This is considered
the minimum level necessary to adequately provide for economic uncertainties, contingencies, and cash
flow requirements.
FUNDING: Savings of $134,500 in the General Fund operating budgets.
Vicky McAthi
Finance Director
'�� _�
H. Dixon Flynn — C6ftanager
City Manager Recommended Adjustments 1997-98
30Q;`
4QQ
5flt
Total Cuts
Economic Development
4A00
4,000
Public Works
4Si?
9',90fg2,4j
78,000
City Manager#
3,000
Community Development
9i1
10,000
Community Center
4,
4,000
Police Dept
8
6,000
Fire
(4# 0
(400)
Finance
100
10,000
Recreation
jtj
5,
4,900
Parks
9
8,
15,000
134,500
RESOLUTION NO. 98-62
A RESOLUTION OF THE LODI CITY COUNCIL
APPPROVING THE 1997-98 BUDGET REDUCTIONS
WHEREAS, the overall goal of the City's Financial Plan and Budget is to establish
and maintain effective management of the City's resources; and
WHEREAS, because the City adopts a two-year Financial Plan and Budget, the
budget policies allow for a semi-annual review by Council; and
WHEREAS, if necessary, the Council can amend appropriations following this
review; and
WHEREAS, at the March 24, 1998 "Shirtsleeve" Session mid -year review of the
1997-99 Financial Plan and Budget, the City Manager recommended minor reductions in
the amount of $134,500.00; and
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lodi
does hereby approve the 1997-98 Budget Reductions in the amount of $134,500.00, as
shown on the attached marked Exhibit A.
Dated: April 15, 1998
--------------------------------------------------
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I hereby certify that Resolution No. 98-62 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held April 15, 1998, by the following vote:
AYES: COUNCIL MEMBERS - Johnson, Land, Mann, Pennino and
Sieglock (Mayor)
NOES: COUNCIL MEMBERS - None
ABSENT: COUNCIL MEMBERS - None
ABSTAIN: COUNCIL MEMBERS - None
I�CGv 'A '
ALICE M. REIMCHE
City Clerk
98-62
City Manager Recommended Adjustments 1997-98
—Zonomic Development
Public Works
City Manager
Community Development
Community Center
Police Dept
Fire
Finance
Recreation
Parks
L-.Ar%a a a It -w
1a ,� a a
Total Cuts
4,000
78,000
3,000
10,000
4,000
6,000
(400)
10,000
4,900
15,000
134,500