HomeMy WebLinkAbout20110207 - VI-07
City Council Memorandum
To: Mayor Hicks & City Councilmembers
From: Charlene Stark, Finance Director
Date: 1/31/2011
Item: 2010 Furlough-Transfer to General Funds
Council Action Requested:
Approve the transfer of excess taxes in fund in which furlough savings occurred.
Background Information:
In 2010 the employees of the city were asked to furlough time. In the 2010 budget a $30,000 was
projected. An actual saving of $60,000 was achieved. This additional savings will help the city's
general fund increase the fund balance at year end. The funds had savings due to furloughs and
thus the tax revenue that was needed to balance these funds can be reduced and transferred to the
general fund.
Financial Impact:
Increases the fund balance in the general fund and keeps the other funds at the budgeted levels for
2010.
Advisory Commission Discussion:
NA
Council Committee Discussion:
NA
Attachments:
Analysis of furlough savings
FundBudgetActualDifference
101 20,543.48 42,319.92
200 3,323.02 4,524.28 1,201.26Tax Levy
201
210 329.44 329.44Tax Levy
213 3,654.58 7,065.53 3,410.95Tax Levy
404 581.05 584.12 3.07
600 975.99 961.97 (14.02)Revenues
601 961.97 961.97Revenues
603 223.62 223.62 -
615 718.28 1,786.34 1,068.06Revenues
610 1,175.85 1,881.36 705.51Tax Levy
31,195.88 60,638.55 7,666.23
Transfer tax levy supported funds 5,647.16