Title
Adopt Joint City Council/Municipal Improvement District No. 1 Resolution Amending the FY 2016/17 Budget for Mid-Year Budget Adjustments
Summary
On March 15, 2017, the City Council/Municipal Improvement District No. 1 (Council/MID) conducted a Mid-Year Budget Review workshop to receive an overview of the status of the current fiscal year expenditures and revenues in all major operating funds and to compare mid-year fiscal performance to budgeted appropriations and revenues. The workshop provided analysis and discussion of revenues received and expenditures to date during the first half of the fiscal year as compared to those projected in the FY 2016/17 Adopted Budget.
As a result of the Mid-Year Budget Review, several budget adjustments were identified as necessary to reallocate appropriations. The attached resolution listing the proposed budget line item adjustments is recommended for approval