2004/04/14 Council Agenda Packet

• EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET - 4 PROJECT TITLE: ' f An Ordinance approving the Consent COUNCIL BILL it ' 60 '-��-}- appropriations of the 2004 revised Action Originating Department Finance City of Everett Budget and 3/31/04 First Reading Contact Person Debra Bryant amending Ordinance No. 2739-03. 4/7/04 Second Reading Phone Number 257 8608 4/14/04 Third Reading FOR AGENDA OF 03/31/04 Public Hearing Initialed by: Department Head CAA Council President Location Preceding Action Attachments Department(s)Approval Attachment A Council approval of this agenda item authorizes a budget revision in the additional amount requested. Expenditure Required $ 340,365,498 Account Number(s): various Amount Budgeted 339,248,446 Additional Required $ 1,117,052 DETAILED SUMMARY STATEMENT: The attached proposed ordinance is to amend the City of Everett 2004 Operating Budget. The budget amendment: • Increases General Government Revenues by $1,217,052, • Decreases General Government Expenditures by $3,495,301, • Thereby increasing the General Government Ending Fund Balance by $4,712,353. • Results in an amended budget with Current General Government Revenues (including allocated Property Tax) of$92,592,414 and, Current General Government Expenditures (including allocated Property Tax) of$92,592,414. • Decreases revenues to Public Safety Reserve Fund 161 by $100,000 and decreases the Fund 161 Ending Fund Balance by $100,000. This is the result of the 800 MHz project coming in under budget. This increases the General Gov't revenues by the same amount. • Increases expenditures in the Utility Fund 401 by $180,000 and decreases the Utility Fund 401 Ending Fund Balance by $180,000. This decreases General Gov't expenditures by the same amount. RECOMMENDATION (Exact action requested of Council): Adopt the proposed ordinance approving the appropriations of the 2004 revised City of Everett Budget and amending Ordinance No. 2739-03. 7