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HomeMy WebLinkAboutReso 69-23 FY 2022-23 Year-End Budget AdjustmentsRESOLUTION NO. 69-23 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MORRO BAY, CALIFORNIA, APPROVING FISCAL YEAR 2022-23 YEAR-END BUDGET ADJUSTMENTS THE CITY COUNCIL City of Morro Bay, California WHEREAS, City staff is preparing year-end accounting entries to close out the City's Fiscal Year 2022-23 financial records; and WHEREAS, in preparing year-end accounting entries staff have identified budget adjustments needed to ensure that the City ends the year consistent with Council's fiscal direction; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay, California, The operating budgets of the City are amended by the additional revenues and expenditures, as shown on the attached Exhibit A, to finalize Fiscal Year 2022-23 accounting records. PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular meeting thereof held on the 24'h day of October 2023, by the following vote: AYES: Wixom, Barton, Edwards, Ford, Landrum NOES: None ABSENT: None ABSTAIN: None RECUSE: None ` � 1 CARTA WIXOM, Mayor ATTEST: 2"Wv_C,J- OANA SWANSON, City Clerk Exhibit A - FY 2022-23 Year -End Budget Adjustments Revenues Original Revised Proposed Increase/ Proposed Description Fund Dept Account Department Budget (Decrease) Budget Explanation Other Fire Services 001 4210 3472 Fire 303,281 222,092 525,373 Additional Mutual Aid Revenues Nuclear Planning Assist 001 4210 3393 Fire 12,360 21,866 34,226 Additional Grant Funding State Grant Other Public Service 001 7105 3371 Comm Dev - 50,626 50,626 Additional Grant Funding Developer Reimbursement Actual Developer Reimbursement Agreements 001 7105 3994 Comm Dev 150,000 118,340 268,340 Agreement Revenue Developer Reimbursement DRA: 3300 Actual Developer Reimbursement Agreements 045 8801 3994 Panorama Dr - 35,832 35,832 Agreement Revenue Undistributed/N Interest Income 201 1111 3710 on -Dept. - 2,725 2,725 Interest income received Total Revenues 465,641 451,481 917.122 txpenuitures Original Revised s Proposed Increase/ Proposed Description Fund Dept Account Department Budget (Decrease) Budget Explanation Additional Mutual Aid Expenditures Regular Pay 001 4210 4110 Fire 1,239,869 68,342 1,308,211 (revenue offset) Additional Mutual Aid Expenditures Overtime Pay 001 4210 4120 Fire 276,137 80,102 356,239 (revenue offset) Additional Mutual Aid Expenditures Employer Paid Benefits 001 4210 4910 Fire 373,963 73,648 447,611 (revenue offset) Expenditure of Grant Funds Received Communications Supplies 001 4210 5108 Fire 4,590 21,866 26,456 (revenue offset) Expenditure of Grant and Developer Reimbursement Funds Received (revenue Consulting Services 001 7105 6105 Comm Dev 79,000 118,340 197,340 offset) Expenditure of Grant Funds Received Contracting Services 001 7105 6106 Comm Dev 54,376 50,626 105,002 (revenue offset) Description Fund Dept Account Department Payment to Other Agency 007 3170 8721 Promo & Ad DRA:3300 Consulting Services 045 8801 6105 Panorama Dr State Police Employer Paid Benefits 282 4190 4910 Grants Harbor Part-time Pay 331 6510 4310 Department Harbor Part-time Pay 331 6511 4310 Lifeguards Undistributed/ Original Revised Proposed Increase/ Proposed Budget (Decrease) Budget Explanation TBID Fund Close Out After Visit Morro Bay 64,993 64,993 Established - Final Transaction Expenditure of Developer Reimbursement 35,832 35,832 Funds Received (revenue offset) Actual Employer Paid Benefit Costs 2,514 14,799 17,313 Exceeded Estimates (New Employee) All PT Pay Budgeted to Fund 003; Actual 8,051 8,051 Labor Costs Exceeded Estimates All PT Pay Budgeted to Fund 003; Actual 20,268 20,268 Labor Costs Exceeded Estimates Labor Costs Applied 925 1111 4999 Non -Dept. 10,000 2,658 12,658 Actual Labor Costs Exceeded Estimates TBID Fund Close Out After Visit Morro Bay Payment to Other Agency 954 3170 8721 Promo & Ad - 162,124 162,124 Established - Final Transaction Total Expenditures 2,040,449 721,648 2,762,097