HomeMy WebLinkAboutAgenda Report - October 2, 2019 C-15AGENDA ITEM c-15
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AGENDA TITLE:
MEETING DATE: October 2,2019
PREPARED BY: Deputy City Manager/lnternal Services Director
Rescind ltem Number Four of Resolution 2019-95 Approving the 2019120
Appropriations Spending Limit and Adopt Resolution Approving Correction to the
2019120 Appropriations Spending Limit
RECOMMENDED ACTION Rescind ltem Number Four of Resolution 2019-95 Approving the
2019120 Appropriations Spending Limit and Adopt Resolution
Approving Correction to the 2O19l2O Appropriations Spending Limit
BACKGROUND INFORMATION On June 5, 2019, Council adopted resolution 2019-95 approving the
Fiscal Year 2019/20 Financial Plan and Budget along with the Fiscal
Year 2019/20 Appropriations Spending Limit.
A subsequent review of the spending limit by the city's auditors revealed an error in the calculation. A
decimal place was inadvertently left off the population factor. The corrected spending limit is
$111,834,820, an increase of the limit by an additional $32,947. The spending limit represents the
maximum spending authority for the City based upon population and inflation changes over the prior
year. The General Fund adopted budget of $59,328,360 is well below the spending limit.
A resolution correcting the spending limit is attached as well as the updated calculation details marked as
Attachment A.
FISCAL IMPACT: There is no fiscal impact.
Andrew Keys, Deputy Manager
Attachments
cc: City Attorney
APPROVED
hen uer, City Manager