Title
Approving year-end adjustments to the 2013 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 year-end projection process identified that, while spending is expected to finish the year approximately $1,242,000 below budget overall, some department budgets are expected to finish above budget due to unforeseen circumstances; and
WHEREAS, other technical changes need be made to the 2013 budget to reflect updated spending and revenue plans; and
WHEREAS, in accordance with the plan established in RES 13-1282, the City received $7,689,825.47 for the negotiated District Energy note prepayment; and
WHEREAS, the Mayor, pursuant to section 10.07.1 of the City Charter, does certify that there are funds of $12,981,478.05 in excess of those estimated in the 2013 budget; now therefore be it
RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor, in accordance with Sections 10.07.1 and 10.07.4 of the City Charter that the 2013 budget, as heretofore adopted and amended by this Council, be hereby further amended as detailed in Attachment A.
Financial Analysis
See Attachment.