HomeMy WebLinkAboutReso 41-16 Authorizing FY 15-16 3rd Qtr AdjU] M1 1=101104 10121 PILVA 101121 Ly to M, I ON I Wei
Aty of Morro Bay, California
WHE AS, the City of Morro Bay is required to appropriate and expend public funds to
conduct its day-to-day business activities; and
WHEREAS, the City Council adopted the original Operating and Capital Improvement
Budgets on June 9, 2015, by Resolution No. 31-15; and
WHEREAS, on February 9, 2016, the City Council adopted Resolution No. OS -16, which
authorized mid -year budget adjustments to the 2015/16 operating and capital improvement budgets;
and
WHEREAS, the City's 2014/15 audit, which was completed on March 31, 2016, contained
Audit Finding 2015-001, which was listed as a material weakness, which is defined as a deficiency,
or combination of deficiencies, in internal control, such that there is a reasonable possibility a
material misstatement of the entity's financial statements will not be prevented, or detected and
corrected on a timely basis; and
WHEREAS; Issue #8 of Audit Finding 201.5-001 found excess spending over budgeted
amounts, to which City management responded it would be more diligent in reviewing budgets to
ensure future compliance; and
WHEREAS, City management has reviewed the 3`d quarter budget performance reports, and
had discovered additional necessary budget adjustments; and
WHEREAS, the City Council deems it necessary to amend said budgets in compliance with
management's response to Audit Finding 2015-001, Issue #8.
NOW, THEREFORE, BE IT RESOLVE
D by the City Council of the City of Morro Bay,
California, the operating and capital budgets of the City of Morro Bay are amended by the additional
revenues and expenditures, as shown on the attached schedules.
1
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular
meeting thereof held on the 24' day of May 2016, by the following vote:
AYES: Irons, Headding, Johnson, Makowetskl, Smukler
NOES: None
ABSENT: None
ivIE L. IRONS, Mayor
ATTEST:
ANA S ANSON, City Clerk
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