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CC Regular Session <br />Meeting Date: 03/11/2014 <br />By: Diana Lund, Finance <br />4. 6. <br />Information <br />Title <br />Adopt Resolution #14-03-050 Amending 2013 General Fund Budget <br />Purpose/Background: <br />Purpose: Annually the city adopts a General Fund Budget. The city is required to amend the budget to reflect actual <br />revenues/expenditures for the year. The amended budget is included in the city's annual Comprehensive Annual <br />Financial Report (CAFR). <br />Background: Attached to this case is Resolution #14-03-050 amending 2013 activity of the General Fund. This is <br />primarily a 'housekeeping' item and is done on an annual basis. The amended budget also allows the determination <br />of whether there is excess revenue for the budget year and the respective transfer (per policy) is performed. For year <br />ending 2013, it is estimated that the city will exceed its fund balance requirements for 2014 by approximately <br />$716,531. This transfer has been completed and is noted in the final General Fund Budget numbers. A summary of <br />the excess revenue determination is included on the last page (page # 16) under the General Fund Budget document <br />that is attached. <br />A large portion of the 2013 budget was for road reconstruction funding. A summary of the ending balance <br />available for future road projects is also on page 16 of the attached budget document. A total of $522,971 is being <br />held in the Public Improvement Revolving Fund (PIR) from unused road funding from the 2013 budget. <br />Notification: <br />As noted, all line items and departments of the General Fund Budget is attached. Those items shown in blue are <br />those line items that went over -budget. An overall summary of the 2013 revenue and expenditures is included on <br />page 15 of the document. <br />Recommendation: <br />As the activity has already occurred for year 2013, the only recommendation is to approve Resolution #14-03-050 <br />amending the 2013 General Fund Budget <br />Attachments <br />Resolution Amending 2013 General Fund Budget <br />2013 Amended General Fund Budget <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 03/05/2014 01:53 PM <br />Form Started By: Diana Lund Started On: 03/03/2014 07:40 AM <br />Final Approval Date: 03/05/2014 <br />