Approval of Budget Amendments related to the 2008 Fiesta La Ballona. City of Culver City California City Council Agenda Item Report Meeting Date: 04/21/08 AGENDA ITEM: Approval of Budget Amendments related to the 2008 Fiesta La Ballona. Contact Person/Dept.: Jeff Muir CFO Phone Number: (310) 253 6016 Item Number: C 5 Fiscal Impact: Yes x No General Fund: Yes x No Public Hearing: Public Notification: Fiesta La Ballona Committee (04/17/08); Master Notification List (04/17/08) Action Item: Attachments: X Department Approval: William LaPointe (04/16/08) Fiscal Impact Review: Jeff Muir (by M. Noller) (04/16/08) City Attorney Approval: Carol Schwab (by H. Baker) (04/16/08) City Manager Approval: Jerry B. Fulwood (04/17/08) RECOMMENDATION: Staff recommends the City Council (1) approve budget amendments to appropriate $10 000 for expenditures and revenues for the 2008 Fiesta La Ballona (Fiesta) for the remainder of Fiscal Year 2007/2008 and (2) direct staff to include a request of $115 000 in both revenues and expenditures in the Proposed Fiscal Year 2008/2009 Budget (a total potential appropriation of $125 000). A budget amendment requires a four fifths vote. BACKGROUND: On February 4 2008 the City Council considered a report entitled Receive and File a Report for the 2007 Fiesta La Ballona Event and Authorize the Reimbursement of the Appropriate Reserves Account. At that time the City Council authorized the acceptance of $55 989.64 from the prior Fiesta La Ballona checking account authorized the recordation of $23 100 as revenues for the 2007 Fiesta La Ballona and authorized the reimbursement of appropriated reserved (from the City s General Fund) in the amount of $124 605.10. Additionally on February 11 2008 the City Council directed that the Fiesta La Ballona Committee become an Official City Committee. DISCUSSION: As mentioned in the staff report from February 4 2008 beginning with the 2007 Fiesta the revenues and expenditures have been transacted through the City Trea...
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