FY15 4TH QUARTER FINANCIAL REPORT AND BUDGET TRANSFERS AND FY16 1ST QUARTER BUDGET TRANSFERS RECOMMENDATION: 1. Receive the Fiscal Year 2014-15 (FY15) 4th Quarter Financial Report and approve FY15 4th quarter budget transfers. 2. Receive and approve the Fiscal Year 2015-16 (FY16) 1st quarter budget transfers. PURPOSE: City staff will review the FY15 4th Quarter Financial Report, 4th quarter budget transfers and FY16 1st Quarter budget transfers. Council approval of the budget transfers will be requested. Budget transfers are required to comply with 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 the budget as necessary by transferring appropriation authority between budget items, if certain conditions are met. (Lauri Wingenroth, Budget & Research Manager)

Committee

City Council Regular Meeting

Introduced

October 15, 2015

On agenda

October 26, 2015