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<br />April 29, 1992 <br /> <br />w) <br />FROM: Willie Norfleet, Director of Finance <br /> <br />TO: Frank Ollendorff, City Manager <br /> <br />SUBJECT: Third Quarter Budget Transfers <br /> <br />The attached list represents the third quarter transfers that need to be approved <br />by the City Council in order to maintain a balanced budget. <br /> <br />The attached list includes nearly every line item that will be overspent, which <br />represents $578,154. <br /> <br />There was a reduction of expenditure accounts to total $166,894. <br /> <br />The overspending of $411,260 was balanced by increasing net revenues by $23,607 <br />and the reduction of various reserve accounts by $387,653. <br /> <br />If you have any questions, please feel free to contact me. Thank you. <br />