HomeMy WebLinkAboutAgenda Report - February 2, 2005 K-03AGENDA ITEM KO3
CITY OF LODI
COUNCIL COMMUNICATION
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AGENDA TITLE: Mid -year budget adjustments and Financial Review as of December 31, 2004.
MEETING DATE: February 2,2005
PREPARED BY: Finance Director
RECOMMENDED ACTION: Approve Mid -year budget adjustment and receive financial review
for December31,2004
BACKGROUND INFORMATION: The Finance Departmentwill provide the mid -year financial review
worksheets to Council at the time of the meeting. There are no mid-
year budget adjustments, which require additional appropriations at
this time. However, there is a need to fill one of the vacant positions
in the Community Development Department (there are currently
four vacant positions in Community Development) in order to commence work on the City's General Plan.
The position is included in the Community Development Department budget and is funded with
General Fund revenues. However, funding for the General Plan has been collected and is available
from the Impact Mitigation Fees (IMF) deposited in the Capital Improvement Fund. Staff recommends
that this position be filled and that budget savings from the vacancies in the Community Development
Department be used to fund this position for the remainder of fiscal year 2004-05; and that
the position be funded with Impact Mitigation Fees starting in fiscal year 2005-06.
FUNDING: Staff recommends that the position be funded from the General Fund for the
remainder of the current fiscal year. IMF have been deposited and are available for
the completion of the General Plan; and will be used to fund this position starting in
fiscal year 2005-06.
mes R. Krueger
Finance Director/Treasurer
APPROVED:
Blair King, City Manager
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