HomeMy WebLinkAboutBudget Transfer Adjustment �-• ENCLOSLiPE 1 7
,City of Oak Park Heicyhtsi
Memo � +� �
Date: March 9, 2000
To: Mayor, Council, and Administrator
From: Judy Holst, Deputy Clerk/Finance Director
Re: Transfer Adjustment
The finance department has completed all of the work required for the 1999 audit. Unaudited
budget shows expenditures over budget in the amount of $46,797.93. There were numerous
departments that were over budget; general management contractual services, salaries, computer
MIS, community development, planning, and contractual services for streets.
Within the public works, street maintenance department we had a budget transfer of $55,000 to
the Budgeted Projects Fund for sealcoat/crack sealing. There was no sealcoating or crack sealing
done in 1999 and there are no plans for sealcoating in 2000. I recommend decreasing the transfer
as of December 31, 1999 to the Budgeted Projects Fund by $47,000 to cover the over budget
amount of $46,797.93 in the General Fund.
The revenues were also under budget by $26,921.69. This was primarily due to the amount
transferred for administration fees for the TIF Fund and the amount received for construction
fees. Both were underbudget. The TIF fees were considerably less than what was anticipated and
the construction fees were less due to the well being delayed to the year 2000. The deficit will be
taken out of fund balance.