FOUR FIFTHS VOTE REQUIREMENT (1) Receipt and Filing of the Fiscal Year 2012/2013 Mid Year General Fund Budget Monitoring Report and (2) Approval of Proposed Budget Amendments. Item Number: A 2 City of Culver City California Agenda Item Report Meeting Date: 03/11/2013 CITY COUNCIL AGENDA ITEM: FOUR FIFTHS VOTE REQUIREMENT (1) Receipt and Filing of the Fiscal Year 2012/2013 Mid Year General Fund Budget Monitoring Report and (2) Approval of Proposed Budget Amendments. Contact Person/Dept.: Jeff Muir CFO Finance Department Fiscal Impact: Yes X No Public Hearing: Public Notification: (Email) Meetings and Agendas City Council (03/05/13); (Email) Ongoing Topics Fiscal and Budget Issues (03/05/13) Department Approval: Jeff Muir (03/05/13) Chief Financial Officer Approval: Jeff Muir (03/05/13) Phone Number: (310) 253 5865 General Fund: Yes X No Attachments: X City Attorney Approval: Carol Schwab (by H. Baker) (03/05/13) City Manager Approval: John M. Nachbar (03/05/13) Action Item: X RECOMMENDATION: Staff recommends the City Council (1) receive and file the Fiscal Year 2012/2013 Mid Year General Fund Budget Monitoring Report and (2) approve related budget amendments. A budget amendment requires a 4/5ths vote. BACKGROUND / DISCUSSION: The attached Mid Year General Fund Budget Monitoring Report (Report) presents the City Council with a snapshot of General Fund expenditures and revenues through the first half of Fiscal Year 2012/2013 which began on July 1 2012. Other City funds are performing within expectations and are not a part of this report except for those funds where a budget amendment is being requested. FISCAL ANALYSIS: into General Fund revenues received and The Report provides detail expenditures disbursed to 12/31/2012 as well as adjusted projections through the end of Fiscal Year 2012/2013 (to June 30 2013). General Fund expenditures through December 31 2012 are $36.792 million or 42.2% of adjusted budget projections. General Fund revenues through December 31 2012 ...
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