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Finance Committee Meeting Date: 02/26/2013 By: Diana Lund, Finance Information Title: Adopt Resolution #13 -02 -045 Amending the 2012 General Fund Budget 4. 2. Background: The city is recquired to amend their adopted budgets annually to reflect more accurately the actual expenditures and revenues of the city for that proposed year. Please note that these are not final numbers. Numbers will not be finalized until after the city's annual audit in April. Based on year -end estimates, the city will exceed its fund balance requirements for 2013 of approximately $108,000. Per the city's fund balance policy any excess revenue funds will be transferred out of the General Fund to the respective funds of Equipment Replacement Fund (10 %), Park Maintenance Fund (10 %), Public Facilities Fund (40 %) and Public Improvement Revolving Fund (40 %). As stated, this is an estimate and a final transfer amount will be brought forward for adoption after all audit numbers have been completed. Notification: The line items of each department are summarized in the attached document. The amended budget numbers are shown in comparison to the 2012 Adopted Budget. Those line items and departments that were over- budget at year -end are high - lighted in green. Recommendation: Approve attached Resolution #13 -02 -045 amending the 2012 General Fund Budget. Funding Source: Not applicable. Council Action: Motion to recommend to city council adoption of Resolution #13-02-045 Amending the 2012 General Fund Budget. Attachments 2012 Amended General Fund Budget Resolution 13 -02 -045 Amending 2012 General Fund Budget Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 02/21/2013 08:33 AM Form Started By: Diana Lund Started On: 02/20/2013 11:05 AM Final Approval Date: 02/21/2013