(1) Receipt and Filing of the Fiscal Year 2013/2014 Mid Year General Fund Budget Monitoring Report (2) Receipt and Filing of the General Fund Financial Forecast and (3) Approval of Proposed Budget Amendments. Item Number: A 2 City of Culver City California Agenda Item Report Meeting Date: 02/24/2014 CITY COUNCIL AGENDA ITEM: FOUR FIFTHS VOTE REQUIREMENT (1) Receipt and Filing of the Fiscal Year 2013/2014 Mid Year General Fund Budget Monitoring Report (2) Receipt and Filing of the General Fund Financial Forecast and (3) 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 (02/18/14); (Email) Ongoing Topics Fiscal and Budget Issues (02/18/14) Department Approval: Jeff Muir (02/17/14) Chief Financial Officer Approval: Jeff Muir (02/17/14) Phone Number: (310) 253 5865 General Fund: Yes X No Attachments: X City Attorney Approval: Carol Schwab (by H. Baker) (02/18/14) City Manager Approval: John M. Nachbar (02/18/14) Action Item: X RECOMMENDATION: Staff recommends the City Council (1) receive and file the Fiscal Year 2013/2014 Mid Year Budget Monitoring Report (2) receive and file the General Fund Financial Forecast and (3) approve related budget amendments. A budget amendment requires a 4/5ths vote. BACKGROUND / DISCUSSION: The attached Mid Year Budget Monitoring Report (Mid Year Report) presents the City Council with a snapshot of General Fund Enterprise Fund and Internal Service Fund expenditures and revenues through the first half of Fiscal Year 2013/2014 which began on July 1 2013. Other City funds are performing within expectations and are not a part of this report. The attached General Fund Financial Forecast (Forecast) takes the mid year projections and forecasts revenues and expenditures out to Fiscal Year 2020/2021. The Forecast provides details of the various assumptions used to arrive at the revenue and expenditure es...
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