HomeMy WebLinkAbout20A - FY 2005-06 APPROPR ADJ YEAR END ADJ
CITY COUNCIL MEETING DATE:
REQUEST FOR
COUNCIL ACTION
CLERK OF COUNCIL USE ONLY:
AUGUST 7, 2006
TITLE:
FISCAL YEAR 2005-2006
APPROPRIATION YEAR-END ADJUSTMENT
APPROVED
D As Recommended
D As Amended
D Ordinance on 1" Reading
D Ordinance on 2" Reading
D Implementing Resolution
D Set Public Hearing For
WIlt2.
CITY MANAGER
CONTINUED TO
FILE NUMBER
RECOMMENDED ACTION
Approve an appropriation adjustment recognizing fiscal year 2005-2006 net
revenues of $2,058,765 in the various Redevelopment Project Area Funds,
$5,007,620 in the Housing Set-Aside Funds, $200,000 in the Regional
Transportation Fund, and $175,000 in the Downtown Maintenance Fund.
DISCUSSION
The accounting and audit processes for the City of Santa Ana, and all
governmental entities in the nation, are governed by Generally Accepted
Accounting Principles (GAAP) , as defined by the Governmental Accounting
Standards Board. In accordance with GAAP, any adjustments to the
appropriations should be approved by the City Council. The adj ustments
proposed in this appropriation adjustment are needed prior to completing
the City's accounting for the revenue and expenditure transactions for
the 2005-2006 fiscal year.
The subject action will recognize and appropriate additional tax
increment, other unanticipated revenues received, and unappropriated
balances from prior years in various accounts. The funds will be
appropriated to fund: required allocations to the Housing Set-Aside
fund, payments of pass-throughs, loan obligations, various deficit line
items, and capital projects.
20A-1
FY05-06 Appropriation Year-End Adjustment
August 7, 2006
Page 2
FISCAL IMPACT
Approval
amount of
521, 531,
Set-Aside
(Fund 67)
of the appropriation adjustment will allocate funds in the
$2,058,765 in the Redevelopment Project Area Funds (Funds 511,
541, 551, 553, 561, and 570), $5,007,620 in the Merged Housing
Fund (Fund 507), $200,000 in the Regional Transportation Fund
and $175,000 in the Downtown Maintenance Fund (Fund 407).
APPROVED AS TO FUNDS AND ACCOUNTS:
~ tk-A_C
h Francisco Gutierrez
rO Executi ve Director
Finance & Management
~~
}I
Ste en G.,Harding
Deputy Ci y Manager for
Development Services
Services Agency
SGH/NE/EB/mlr
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