Legislation Details

File #: 13-5135    Version: 1 Name:
Type: Miscellaneous File Status: Passed
File created: 10/18/2013 In control: City Council Regular Meeting
On agenda: 11/18/2013 Final action: 11/18/2013
Title: FY13 FOURTH QUARTER AND FY14 FIRST QUARTER FINANCIAL UPDATES AND BUDGET TRANSFERS RECOMMENDATION: Receive the fiscal year (FY) 2013 fourth quarter and FY14 first quarter financial updates and approve the corresponding budget transfers. PURPOSE: Staff will review the FY13 fourth quarter and FY14 first quarter financial updates and budget transfers. Budget transfers are required according to Arizona State Statute and budget law and are necessary for continuance of City operations. An Arizona city or town may not revise its adopted budget to increase total expenditures, but it is permitted to revise budgeted expenditures at the department level by transferring monies between budget items, if certain conditions are met. (Terri Canada, Budget & Research Manager)
Attachments: 1. Staff Report, 2. 4th Quarter Financial Report, 3. 1st Quarter Financial Report, 4. Presentation
TITLE
FY13 FOURTH QUARTER AND FY14 FIRST QUARTER FINANCIAL UPDATES AND BUDGET TRANSFERS
RECOMMENDATION:
Receive the fiscal year (FY) 2013 fourth quarter and FY14 first quarter financial updates and approve the corresponding budget transfers.
 
PURPOSE:
Staff will review the FY13 fourth quarter and FY14 first quarter financial updates and budget transfers. Budget transfers are required according to Arizona State Statute and budget law and are necessary for continuance of City operations. An Arizona city or town may not revise its adopted budget to increase total expenditures, but it is permitted to revise budgeted expenditures at the department level by transferring monies between budget items, if certain conditions are met. (Terri Canada, Budget & Research Manager)