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FROM: <br /> <br />To: <br /> <br />Subject: <br /> <br /> June 14, <br /> <br />Willie Norfleet, Director of Finance <br /> <br />Frank Ollendorff, City Manager <br /> <br />Fourth Quarter Budget Transfers <br /> <br />1993 <br /> <br />The attached list represents the fourth budget transfers for this fiscal year. <br />The City Council needs to approve the attached list in order to maintain a <br />balanced budget. <br /> <br />This list of transfers assumes 100% of the budget being spen[ and projected <br />revenues being collected. <br /> <br />The attached list includes overspending of $198,780 and a reduction of $180,247. <br /> <br />The City budget projects ~hat revenues will have a net shortage of $192,025 for <br />this transfer. <br /> <br />In order to have a balance{budget, the unobligated fund balance in the amount of <br />$210,558 will have to be used. <br /> <br />Keep in mind that the City has collected an estimate of $300,000 for local use <br />tax that-has not been reflected in the budget. <br /> <br />If you have any questions, please feel free to contact me. Thank you. <br /> <br /> <br />