HomeMy WebLinkAboutReso 23-2008
RESOLUTION NO. 23-2008
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AMENDING THE 2007-08 OPERATING
BUDGET TO ADJUST REVENUES AND EXPENDITURES AT
MID- YEAR
WHEREAS, staff has presented the City Council with a review of the City's finances
midway through the 2007-08 fiscal ye:ar; and
WHEREAS, it is recommended that the City Council review the 2007 -08 Midyear Financial
Report and approve the Midyear 2007..08 Budget Amendment Changes included as "Attachment B"
hereto,.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco hereby amends the 2007-08 Operating Budget to reflect the changes shown on Attachment
B.
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I hereby certifY that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a regular meeting held on the 2ih day of
February 2008 by the following vote:
AYES:
Councilmembers Mark N. Addiego. Richard A. Garbarino and Kevin Mullin.
Mayor Pro Tern Karyl Matsumoto and Mayor Pedro Gonzalez
NOES: None
ABSTAIN: None
ABSENT: None
Attachment B
Midyear 2007-08 Budget Amendment Changes
General Fund Revenues
Property Taxes:
An increase of $467,000
ERAF Refund:
An increase of$561,000.
Sales Taxes: A decrease of $951 ,000.
Transient Occupancy Tax: An incr1ease of $400,000.
Parking Tax: An increase of$557,000:
Building Permits:
A decrease of $540,000..
Franchise Fees:
A decrease of $200,000.
Interest Earnings:
an increase of$100,000.
Business License Revenue: an incn~ase of $27,000
General Fund EXDenditures:
An increase to the Fire Department salaries and benefits of $425,000
An increase to the City Attorney's Office for litigation expenses of $200,000.
RedeveloDment Ae:ency:
An increase in Property Tax Increment by $_
An increase in Lease Revenues by $
An increase in transfers to the 20% housing fund by $_
An increase in Pass through Expenses by $
Other:
Transfer the Reserve for Post Employment Health Benefits to the Health and Benefits Fund