City of Temecula header
File #: AR-24-531    Version: 1 Name:
Type: Council - Consent Calendar Status: Agenda Ready
File created: 10/22/2024 In control: City Council
On agenda: 11/12/2024 Final action:
Title: Approve Financial Statements for the 4th Quarter Ended June 30, 2024
Attachments: 1. Agenda Report, 2. City Fund Summaries
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title
Approve Financial Statements for the 4th Quarter Ended June 30, 2024
recommendation
That the City Council:

1. Receive and file the Financial Statements for the 4th Quarter Ended June 30, 2024; and

2. Approve the following Fiscal Year 2023-24 Budget Adjustments:

a. Transfer $5,900 from Continuity Staffing Reserve operating account (001.199.999.5353) to the Economic Development Department’s Salaries & Wages operating account (001.111.406.5100) to reflect a backfilled position.

b. Increase the Economic Development Department’s Insurance Internal Service Fund Allocation operating accounts by $30,716 to reflect higher than anticipated Insurance charges ($6,505 in 001.111.406.5530 and $24,212 in 001.111.999.5530).

c. Transfer $97,928 to the Land Development Department Salaries & Wages operating account (001.163.999.5100) from other Public Works Departments’ Salaries & Wages operating accounts ($26,114 from 001.164.601.5100), ($13,057 from 001.164.602.5100), ($32,643 from 001.165.999.5100), ($16,974 from 001.167.999.5100), and ($9,140 from 340.199.164.5100) to realign the budget based on personnel allocation charges.

d. Increase the Gas Tax revenue account (100.199.000.4706) by $100,035 to reflect higher than anticipated revenue.

e. Increase the General Fund’s Operating Transfers In revenue account (001.199.000.6100) by $100,035 to reflect a higher transfer than anticipated from the Gas Tax Fund.

f. Increase the Gas Tax Fund’s Operating Transfer Out account (100.164.999.7001) by $100,035 to reflect a higher transfer than anticipated to the General Fund.

g. Increase the CDBG Fund’s Operating Transfer Out account (140.199.999.7210) by $285,931 to reflect a higher transfer than anticipated to the CIP Fund.

h. Increase the Supplemental Law Enforcement Services revenue account (160.199.000.4085) by $37,602 to reflect higher than anticipated revenue.

i. Increase the General Fund’s Operating Transfers In revenue account (001.199.000.6160) by $37,602 to reflec...

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