Title
Approving year-end adjustments to the 2012 budget.
Body
WHEREAS, the Office of Financial Services coordinates a review of all revenues and spending as part of the year-end department projection process to identify expected net revenue and spending outcomes; and
WHEREAS, the Mayor has imposed a spending and hiring freeze since early 2009 to address uncertainity in revenues due to a challenging economic environment; and
WHEREAS, the year-end projection process identified that, while spending is expected to finish the year $956,000 below budget overall, multiple department budgets are expected to finish above budget due to unforseen circrumstances; now therefore be it
RESOLVED, that the Mayor, in accordance with Section 10.07.4 of the City Charter recommends that budgets be adjusted accordingly as reflected in the attachment.
Financial Analysis
See Attachment.