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2005 <br /> Budget Adjustments <br /> Tally Sheet <br /> Department Code Rev Exp FB <br /> GGA-12 Finance Amendment-Microflex Contract ( 010A 65,000 <br /> GGA-12 General Fund Amendment-Microflex Contract I 002A 65,000 <br /> A new Microflex service agreement was approved by City Council on June 1, 2005. Microflex Inc. <br /> uses computer technology to compare sales, business and other tax return information made to the <br /> State of Washington with the sales and business tax records of the City of Everett. Microflex is paid <br /> 20% of all recovered tax revenue to the City and 20% of the taxes recovered for the next four <br /> quarters. <br /> The Microflex contract is budgeted at$25,000 for 2005. Due to several large tax recoveries, this <br /> expense is estimated at $90,000 this year. This amendment adds $65,000 to the 2005 budget. The <br /> source of funds for this expenditure is additional B & 0 tax revenue. <br /> Increase B&O Tax Revenue 002 3161000000 65,000 <br /> Increase Professional Svcs budget-Finance 010 5100000410 65,000 <br /> Department Code Rev Exp FB <br /> GGA-13 General Fund Amendment-Interest Earnings 002A 110,000 <br /> GGA-13 Non-Dept Expense Amendment-Interest Earnings 009A 110,000 <br /> Interest earnings for the General Fund are exceeding the budget due to higher than anticipated <br /> rates and balances. <br /> Increase Interest Earnings-General Fund 002 3611000000 110,000 <br /> Increase Ending Fund Balance-General Fund 009 5980000490 110,000 <br /> i <br /> ATTACHMENT A <br /> Tally 2005.xls 8/12/2005 <br />