HomeMy WebLinkAboutItem 13 - Supplemental Attachment - Budget Adoption (2)Memo
To: City Council
From: Mary Furey
Date: June 3, 2015
Re: AGENDA ITEM NO. 13 – Adoption of the Fiscal Year 2015/16 Operating & Capital
Budget
As noted at the May 20, 2015 Budget Hearing, any late-breaking items, corrections, revised estimates,
and budget changes per Council direction will be incorporated into the final Operating and Capital
Budget numbers and document.
One item not included in the budget adoption staff report that is significant in nature is the new Covina
Landscape and Lighting District (LLD) Council approved in August of 2014. This new LLD is
scheduled to become effective July 1st.
As described in the Engineer’s Report, the proposed budget for the Covina LLD is as follows:
Revenues
Property Assessments 37,854
Total Revenues 37,854
Expenditures
Landscaping 27,600
Maintenance 1,980
Water 1,500
Electricity 750
Administrative Costs 6,024
Total Expenditures 37,854
Due to the size of Covina’s budget, staff wanted Council to be aware the correction would be included
in the final document, thereby increasing LLD fund budgeted revenue and expenditures by $37,854.
There is no impact to the General Fund.
City of Saratoga