FY13 FOURTH QUARTER AND FY14 FIRST QUARTER FINANCIAL UPDATES AND BUDGET TRANSFERS RECOMMENDATION: Receive the fiscal year (FY) 2013 fourth quarter and FY14 first quarter financial updates and approve the corresponding budget transfers. PURPOSE: Staff will review the FY13 fourth quarter and FY14 first quarter financial updates and budget transfers. Budget transfers are required according to Arizona State Statute and budget law and are necessary for continuance of City operations. An Arizona city or town may not revise its adopted budget to increase total expenditures, but it is permitted to revise budgeted expenditures at the department level by transferring monies between budget items, if certain conditions are met. (Terri Canada, Budget & Research Manager)

Committee

City Council Regular Meeting

Introduced

October 18, 2013

On agenda

November 18, 2013

Passed

November 18, 2013