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File #: 2018-70    Version: 1 Name:
Type: Budget Item Status: Passed
File created: 2/12/2018 In control: City Council
On agenda: 3/19/2018 Final action: 3/19/2018
Title: Approval for the use of FY17 Surplus
Sponsors: Ron Fennel
Attachments: 1. Issue Sheet 2018-70 Surplus 031618.pdf, 2. Surplus 031618.pdf

Impact

WARD:  Citywide                                          

 

COMMITTEE:  Finance and Administration                     

 

$ IMPACT:                                                                 

 

Title

Approval for the use of FY17 Surplus                     

 

Body

ISSUE:  Approval for the allocation of the FY17 Surplus

 

BACKGROUND: 

FY 2017 ended with stronger revenues and lower expenditures than anticipated.  As a result, the City has a positive year-end position.  Finance recommends allocating this surplus to cover several projects that have come up that were not budgeted. 

 

RECOMMENDATION/REQUESTED ACTION:  Approval of the suggested use of surplus.