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<br /> <br /> <br /> <br />Council Agenda Item Cover <br /> <br />________________________________________________________________ <br /> <br /> <br /> <br />MEETING DATE: <br /> September 4, 2007 <br /> <br />AGENDA ITEM TITLE: <br /> Year-End Budget Amendment and Transfers <br /> <br />AGENDA SECTION: <br /> New Business <br /> <br />CAN THIS ITEM BE RESCHEDULED? : <br />No <br /> <br />BACKGROUND REVIEW: <br />Attached are the budget transfers for year-end. Transfers are <br />only presented on individual accounts which are over budget by $5,000 or more, the <br />category of expenditures (such as Commodities) is over budget or for specific issues that <br />have occurred throughout the second half of the year. All of the General Fund transfers <br />were made using existing unspent funds. Also attached is a draft year-end revenue and <br />expenditure summary for the general fund. We will end the FY 07 budget in an even better <br />condition than planned as we passed the FY 08 budget. These numbers will change <br />slightly as we continue to close-out the year. <br /> <br /> <br /> FY 07 Estimate FY 07 FY 08 <br />From Budget Projected Budget <br />Document Actual (Revised) <br /> <br />Beginning Fund Balance $6,526,563 $6,526,563 $5,533,673 <br /> <br />Projected Revenue $28,286,412 $28,233,720 $29,525,796 <br /> <br />Projected Expenditures ($29,819,588) ($29,226,610) ($29,525,165) <br /> <br />Ending Fund Balance $4,993,387 $5,533,673 $5,534,304 <br /> <br /> Fund Balance as a % of 16.7% 18.9% 18.7% <br /> Annual Expenditures <br /> <br /> <br />Please note that these percentages will change as we finalize other areas that affect fund <br />balance. <br />I-1-b <br />September 4, 2007 <br /> <br />