FOUR FIFTHS VOTE REQUIREMENT (1) Receipt and Filing of the Fiscal Year 2011/2012 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: _03/12/2012_ CITY COUNCIL AGENDA ITEM: FOUR FIFTHS VOTE REQUIREMENT (1) Receipt and Filing of the Fiscal Year 2011/2012 Mid Year General Fund Budget Monitoring Report and (2) Approval of Proposed Budget Amendments Contact Person/Dept.: Jeff Muir/Finance Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification: (Email) Meetings and Agendas City Council (03/08/12); (Email) Ongoing Topics Fiscal and Budget Issues (03/08/12) Department Approval: Jeff Muir (03/07/12) Chief Financial Officer Approval: Jeff Muir (03/07/12) City Attorney Approval: Carol Schwab (by H. Baker) (03/07/12) City Manager Approval: John M. Nachbar (03/07/12) Phone Number: 310 253 5865 General Fund: Yes X No Attachments: X Action Item: X RECOMMENDATION: Staff recommends the City Council (1) receive and file the Fiscal Year 2011/2012 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 2011/2012 which began on July 1 2011. Other City funds are performing within expectations and are not a part of this report. They will be discussed in more detail during the Fiscal Year 2012/2013 budget process which will begin in May. FISCAL ANALYSIS: The Report provides detail into General Fund revenues received and expenditures disbursed to 12/31/2011 as well as adjusted projections through the end of the Fiscal Year (to June 30 2012). Staff is recommending General Fund expenditure appropriations be reduced by $3...
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