FY 13-14 3RD QUARTER FINANCIAL REPORT AND 3RD QUARTER BUDGET TRANSFERS RECOMMENDATION: Receive fiscal year (FY) 13-14 3rd Quarter Financial Report and approve FY13-14 3rd quarter budget transfers. PURPOSE: City staff will review the 3rd Quarter Financial Report for FY 13-14 and budget transfers. Council approval of the 3rd quarter budget transfers will be requested. 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. (Kim Bradford, Assistant to the City Manager)

Committee

City Council Regular Meeting

Introduced

May 30, 2014

On agenda

June 23, 2014

Passed

June 23, 2014