Item 1.6 - Third Quarter Budget Update for FY 2016-17OF POI �Y
City of Poway
COUNCIL AGENDA REPORT
IN THE GJJ�
DATE: May 16, 2017
APPROVED a
APPROVED AS AMENDED ❑
(SEE MINUTES)
DENIED ❑
REMOVED ❑
CONTINUED
Resolution No, l "� 014
TO: Honorable Mayor and Members of the City Council
Honorable Chairman and Members of the Housing Authority
Honorable Chairman and Members of the Successor Agency
to the Poway Redevelopment Agency
FROM: Peter Moote, Acting Director of Financ�,
a
CONTACT: Andrew White, Finance Manager 0j�/
(858) 668-4426 or awhite@poway.org
SUBJECT: Third Quarter Budget Update for FY 2016-17
Summary:
With FY 2016-17 Third Quarter activity now complete, this report identifies adjustments
processed under City Manager authority, and recommends appropriations for updated
budget requirements. Except as described below, there are no significant adjustments
proposed with this report, and no change to the Fiscal Year 2016-17 estimates that were
reported in the Midyear/Second Quarter Budget Update for FY 2016-17.
Recommended Action:
It is recommended the City Council receive this report, and adopt the attached resolution
approving the FY 2016-17 Third Quarter adjustments.
Discussion:
On June 21, 2016, the City Council approved Resolution 16-027 to amend the second
year of the biennium budget, resulting in FY 2016-17 General Fund appropriations for
operations totaling $42.94 million supported by $43.62 million in operating revenue.
Consistent with the City's Reserve Policy, amendments to the FY 2016-17 budget also
included increasing the General Fund reserve for revenue volatility, expenditure volatility
and extreme events/public safety from $18.02 million to $18.78 million. First and second
quarter amendments for FY 2016-17 adjusted certain operating and capital improvement
budgets, and were approved by the City Council on December 6, 2016, and March 21,
2017, respectively.
The next status report for FY 2016-17 will consist of a pre -year-end closing review in June
2017, together with the Proposed Budget for Fiscal Year 2017-18.
1 of 5 May 16, 2017, Item # I.6
FY 2016-17 Third Quarter Budget Update
May 16, 2017
Page 2
Revenues and Expenditures
Based upon FY 2016-17 year-to-date activity, no significant adjustments to the City's FY
2016-17 General Fund revenues or expenditures are being proposed. Consistent with
the Midyear Budget Update, revenues are projected to come in approximately 2.4%
higher than the FY 2016-17 Revised Budget, with expenditures increasing by 0.6%.
New Appropriations
Public Works
Additional appropriations totaling $103,000 are being requested for several Landscape
Maintenance Districts due to unexpected tree removal costs, as well as irrigation system
repairs. These new costs were necessary for the emergency removal of fallen trees, as
well as trees having to be removed due to their poor condition. A portion of these costs is
related to the 2017 Winter Storms.
Environmental Review:
None required.
Fiscal Impact:
The attached resolution authorizes appropriations for the proposed Third Quarter budget
amendments.
Public Notification:
None.
Attachments:
1. City Resolution for Third Quarter Recommended Appropriations
Reviewed/Approved By: Reviewed By:
Approved By:
WendlyWaserman Morgan Foley Tina M. White
Assistant City Manager City Attorney City Manager
2of5
May 16, 2017, Item # 1.6
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A RESOLUTION OF THE CITY COUNCIL, HOUSING AUTHORITY, AND
SUCCESSOR AGENCY TO THE POWAY REDEVELOPMENT AGENCY
OF THE CITY OF POWAY, CALIFORNIA
APPROVING AMENDMENTS TO THE CITY'S FINANCIAL PROGRAM
FOR THE THIRD QUARTER FISCAL YEAR 2016-2017
WHEREAS, on June 16, 2015, the City Council of the City of Poway adopted
the Poway Financial Program for Fiscal Years 2015-16 and 2016-17; and
WHEREAS, on June 21, 2016, the City Council of the City of Poway amended
the Poway Financial Program for Fiscal Year 2016-17; and
WHEREAS, a review of revenue and expenditure activity at third quarter end has
determined that certain amendments to the Fiscal Year 2016-17 Poway Financial
Program are necessary.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Poway
that the additional appropriations and transfers attached hereto as Exhibit "A" and
incorporated herein by this reference are approved.
PASSED, ADOPTED, AND APPROVED by the City Council of the City of Poway
at a regular meeting this 16th day of May 2017.
Steve Vaus, Mayor
ATTEST:
Nancy Neufeld, CMC, City Clerk
3 of 5 ATTACHMENT A May 16, 2017, Item # 1.6
Resolution No. 17 -
Page 2
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO)
I, Nancy Neufeld, CMC, City Clerk of the City of Poway, do hereby certify under
penalty of perjury that the foregoing Resolution No. 17- was duly adopted by the
City Council at a meeting of said City Council held on the 16th day of May 2017, and that
it was so adopted by the following vote:
AYES:
NOES:
ABSENT:
DISQUALIFIED:
Nancy Neufeld, CMC, City Clerk
City of Poway
ATTACHMENTS:
Exhibit A
4 of 5 May 16, 2017, Item # 1.6
EXHIBIT A
Third Quarter Recommended Appropriations to City Financial Program for Fiscal Year 2016-17
5 of 5 May 16, 2017, Item #1.6
Operating Budgets
Public Works
Division
Fund Account
I Description
Amount
LMD 83-01A (0421)
LIVID 86-01(0422)
LIVID 86-01(0422)
LIVID 83-01A (263)
LIVID 86-01(264)
LIVID 86-01(264)
4120
4120
4770
Other Contractual Services
Other Contractual Services
Landscape Supplies
50,000
40,000
8,000
LIVID 86-02A (0423)
LM 86-02A (265)
4120
Other Contractual Services
5,000
Total Public Works
103,000
Third Quarter Operating Budget Adjustments - Expenditures
103,000
5 of 5 May 16, 2017, Item #1.6