CITY OF ENCINITAS CITY COUNCIL AGENDA REPORT

Transcription

1 CTY OF ENCNTAS CTY COUNCL AGENDA REPORT Meeting Date: February 13, 2013 TO: City Council VA: Gus Vina, City Manager ~ FROM: Tim Nash, Finance Direct04' _ /' Teri Shoemaker, Finance Managet~ Contributions from All Departments SUBJECT: Mid-Year Review of Fiscal Year Operating Budget and Adoption of Resolution No ; Approving the Mid-Year Budget Report for fiscal year BACKGROUND: At the mid-point of the fiscal year Council receives an update from staff on projected revenues and budgeted expenditures for the fiscal year and considers proposed budget modifications. The current fiscal year (FY ) is the second year of a two year operating budget; budget projections for the current year were approved by Council on June 20,2012. On November 14, 2012 Council approved the revised beginning fund balances following completion of the financial audit for FY At the November 14th meeting, staff also presented the first quarterly update for FY , and Council approved several budget adjustment recommendations at that time. n this report staffwill summarize current economic and otherissues that have resulted in proposed mid-year budget adjustments. FSCAL AND STAFF MPACTS: General Fund The first quarter proj ected General Fund ending fund balance for the current fiscal year was $15,341,697. The revised projected fund balance of $15,653,886 includes off-cycle appropriations approved by Council, as well as all mid-year appropriation requests, detailed in Schedule C (Attachment C). The ending fund balance maintains the 20% contingency reserve of $10 million; a budget stabilization reserve of 2% of revenues or $1.1 million; and unappropriated fund balance of $4.6 million. Last printed 2/ :02:00 PM 02/13/2013 tem #04 Page 1

2 All Other Funds Attachment B is a summary of all City funds indicating beginning fund balances, projected revenues, approved expenditures, fund transfers and projected ending fund balances. Changes are indicated in bold font and have corresponding explanations in Attachment A. The companion agenda report, "Fiscal Year Capital mprovement Program (CP) Status Report and Recommended Mid- Year Adjustments to the Capital mprovement Program" discusses changes to the Capital mprovement Program which includes all active capital and work projects. RECOMMENDATON: Staff recommends that Council adopt Resolution , approving the Mid-Year Budget Report for fiscal year ATTACHMENTS: Attachment A: Narrative on Updated Budget Projections and Mid-Year Appropriation Requests (ALL FUNS) Attachment B: Revised FY Budget Sumar - All Funds (Schedule A) Attachment C: Revised FY Detail of General Fund Revenues, Expenditures and Transfers (Schedule C) Attachment D: Revised FY General Fund Summary with Reserves Attachment E: Resolution No , Adopting the Mid- Year Budget Report for Fiscal Year Last printed 2/4/2013 5:02:00 PM 02/13/2013 tem #04 Page 2

3 Attachment A Narrative on Updated Budget Projections and Mid-Year Appropriation Requests GENERAL FUND (FUND 101) Revenues The following table is a summary of the General Fund revenue categories. At mid-year, staff is projecting an overall increase to General Fund revenues of $251,448 or.:1 %. Total propert taxes represent nearly 62% of the total General Fund revenues, followed by Sales tax at 20%. For the most par, General Fund revenue is right on track to meet staff projections. A discussion of recommended adjustments to revenue follows this table: st Qtr Adj. Proposed Proposed Revenue Category FY-12 approved Mid-Year Mid-Year % Actual 11/14/12 Adj Projections Change Prop Taxes: Curreht Secured 25,194,124 25,163,233 25,163,233 Prop Taxes: Delinquent Secured 65, , ,000 Prop Taxes: Current Unsecured 886, , ,000 Prop Taxes: Curent Supplemental 313, , ,500 Prop Taxes: All Other 653, , ,372 Prop Taxes: n Lieu ofvlf 5,190,278 5,279,303 5,279,303 Taxes: Sales Tax Triple Flip 2,548,442 2,901,058 2,901,058 Taxes: Sales and Use Tax. 8,064,746 7,760,896 7,760,896 Taxes: Transient Occupancy 1,131, , ,095 Taxes: Documentary Transfer 484, , ,312 Taxes: Franchise Fees 2,144,162 2,189,961 2,189,961 License Fees and Permits 207, , ,755 ntergovernmental Revenue 522, ,603 (87,500) 488,103 (15%) Charges for Services 4,406,737 3,752,365 3,752,365 Fines and Penalties 657, , ,750 Use of Money 523, , ,212 Other Revenue 979, , , ,422 19% Totals: 53,974,860 52,735, ,448 52,987,337.:1% ntergovernmental Revenue Mid-Year Forecast: Recommend decrease of $87,500 n December 2008, the City entered into a settlement agreement with the City of Carlsbad to cost share certain expenses associated with the La Costa Avenue mprovement project. General Fund revenue in the amount of $87,500 was projected to be received from the City of Carlsbad in FY However, the project is not at the point that the exchange of money between the cities will occur. t is recommended that the cost share amount be removed from the current year budget and rescheduled when the project is ready. 02/13/2013 tem #04 Page 3

4 Attachment A Other Revenue Mid-Year Forecast: Recommend increase of $338,948 n 2004, the State Legislature instituted both the Sales Tax "Triple Flip" and the "Vehicle License Fee (VLF) Swap" under the tax laws. The Triple Flip reimburses cities with property tax proceeds to compensate for reduced city sales tax revenue used to payoff Proposition 57 state fiscal recovery bonds, instead of sending the quarter of a cent sales tax to the City. The VLF Swap provides cities with additional property tax share to compensate for the related cut in the VLF tax rate and revenue. The Legislature stipulated that counties could not charge additional fees to cities for the first two years of the Triple Flip and VLF Swap implementation, and that thereafter charges to cities could not exceed the actual cost of providing the services. However, commencing in FY and following guidelines developed by the County Auditors Association, some counties altered property tax administration fee (PTAF) charges by counting the Triple Flip and VLF Swap amounts as increased base property tax revenue to cities. This resulted in PT AF increases far in excess of the actual additional cost of administering the Triple Flip and VLF Swap. On November 16, 2012 the California Supreme Court issued a decision that the calculation methodology was unlawful and that county fees are limited to the actual annual cost of administering the Triple Flip and VLF swap. The City received an unanticipated refund of $338,948 from the County of San Diego on December 7, 2012 due to a court settlement related to SB2557 for the collection of property tax admipistration fees. The refud includes fees charged to the City by the County from FY2009 through FY t should be noted that this is one time money. The two year budget (FY14 and FY15) which is curently in development have been adjusted to reflect this savings going forward. 02/13/2013 tem #04 Page 4

5 Attachment A Expenditures n mid-january, the Finance departent met with each Department to review the Second Quarter of the Departent Quarterly Spending Plans and hold mid-year budget review discussions. The following table summarizes the proposed Deparment budgets. See Attachment C for a list of each division by Deparment. Below the chart is a discussion ofthe proposed mid-year adjustments (3+4) 6 FY2-13 FY st Qtr Mid-Yr Expenditue approved Mid-Yr Revised % Category Actual 11/14/12 Requests Budget Change General Government 9,134,954 9,574,709 15,000 9,589,709 ~1% Planning & Building 3,808,687 3,710,043 3,710,043 Law Enforcement 11,286,337 12,053,465 12,053,465 FirelMarine Safety 11,517,330 12,529,626 12,529,626 Public Works 3,483,137 3,714,216 15,000 3,729,216 ~1% Engineering 3,804,813 3,817,774 3,817,774 Parks/Recreation 4,228,808 4,551,026 4,551,026 Total: 47,264,066 49,950,859 30,000 49,980,859 ~1% General Government/Arts Administration - Recommend increase of $5,000 Demand for use of the Library Community Room after Library hours of operation has resulted in the need for a contracted after hours facility attendant. Contractual costs will be offset by rental fees charged for after-hours room use. Staff will monitor the additional revenue generated through this effort, however a revenue adjustment is not recommended at this time. f necessar, staff wil report back as a third quarter adjustment. General Government/City Clerk Elections - Recommend increase of $10,000 The County of San Diego has estimated the costs for signatue verification of the "Right to Vote" initiative wil be approximately $10,000. This cost is not included in the City's budget; therefore an increase to the City Clerk's Election budget is necessary. Public Works/Administration - Recommend increase of $15,000 Staff is requesting an expenditue increase to replace specialized tools that belonged to a retired Fleet employee. 02/13/2013 tem #04 Page 5

6 Attachment A Transfers To/From the General Fund Original Transfers to Capital and Work Projects (Net Appropriations/Retus) were $1,100,746. There was an off cycle appropriation approved July 11, 2012 of $1,100,000, bringing the total to $2,200,746. Mid-year requests affecting the General Fund transfer to capital are sumarzed below and a more comprehensive discussion of these proposed changes is included in the companion staff report entitled, "FY Capital mprovement Program (CP) Status Report and Recommended Mid-Year Adjustments to the CP." Proposed Amount: Off-Cycle appropriations/returns Chan!!e Over/(Under) Original Approved Transfer to Capital Program (Adopted 6/20/12) $1,100,746 Off cycle- Unappropriated General Fund balance designated to $1,100,000 provide additional fuding needed for. the Moonlight State Beach and/or Encinitas Communty Park projects. (Council approved 7/11/12) Project closures/retus to General Fund at Mid-Year (refer to CP ($90,741) agenda report for details) Total Proposed Adjusted Transfer to Capital Program $2,110,005 OTHER FUNDS (SEE ALSO ATTACHMENT B) Government Education Access (Fund 213) - Recommend expenditure increase of $11,100 Staffis recommending mid-year adjustments for costs associated with the City's institutional fiber network (-Net). The -Net enables high-speed communication links between City locations. The 1- Net is currently provided at no cost to the City by Cox Communications as an obligation of the local franchise agreement between the City and Cox. Cox's -Net obligation expires on June 30, Cox has proposed that the City lease the current -Net at an annual recurrng cost of $51,000 (with reduced bandwidth resulting in slower network speed). nstead, T recommends a combination of installing fiber communication links to some locations and Virtual Private Network (a secure site-tosite connection between City Hall and destination location across the nternet) to smaller locations. The one-time cost for this recommended approach is estimated at $45,520 with annual recurrng maintenance costs of $11,100. The one-time cost of $45,520 will be a work project and therefore requested in the FY Capital hnprovement Program (CP) Status Report and Recommended Mid-Year Adjustments to the CP which is a separate agenda item. Encinitas Ranch District (Fund 297) - Expenditure increase of $6,850 Staff is requesting an adjustment for open space brush management in the Encinitas Ranch Lighting Distrct. This is a new cost associated with maintenance of City owned property which was not identified until after the FY budget was developed. Future costs for brush management wil be included in the two year budget which is curently being developed. 02/13/2013 tem #04 Page 6

7 FY : Revised Budget Summary Schedule A (includes Mid-Year Adjustments) Attachment B (Column 1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Adjusted nterfund nterfund nterfund nterfund Current Adjusted Fund Revenue Approved Transfers Transfers Transfers Transfers Year Projected Fund Balance Projections Expenditures Operating Other Debt Service Capital Summary Fund Balance FUND NAME # 7/1/2012 (+3-4+(5 8)) (+2+9) GOVERNMENT FUNDS General Fund ,480,201 52,987,337 49,980,859 98,520 57,856 (3,879,161) (2,110,005) (2,826,312) 15,653,886 Self-nsurance Fund 601 2,773,243 1,072,486 1,706, , ,409 2,984,652 Jr Lifeguard Program Fund , , , ,622 Recreation Programs Fund ,371 1,236,581 1,144, , ,509 TRANSPORTATON FUNDS State Gasoline Taxes ,276 1,639,197 0 (990,059) 0 0 (732,936) (83,798) (28,522) State Capital Grants , , (153,440) 0 204,633 Transnet Program (Prop A Sales Tax) 211 (353,430) 1,440, (1,377,064) 62,936 (290,494) Coastal Zone Management Fund , , , ,554 (23,555) 432,414 Federal Capital Grants ,011, (1,011,954) 0 0 Federal TDA Grants 224 2, ,298 GRANT FUNDS State Law Enforcement Grant , , Government Education Access , ,392 74, (50,087) 54, ,137 Household Hazardous Waste 214 1,596, , , (700,000) (782,027) 814,141 Asset Forfeiture , , (4,576) 99,168 Senior Nutrition Grant , ,143 46, ,396 4,396 Comm Devel Block Grant (CDBG) 222 (0) 360, , (60,456) 35,788 35,788 HOME Entitlement Program 227 (0) 569, , (0) Federal Law Enforcement Grant ,000 10, Affordable Housing , ,958 Encinitas Housing Authority 551/552 55,584 1,197,700 1,233, (35,696) 19,888 DEVELOPMENT MPACT FUNDS Park mprovement Fees ,251 76, , ,438 Park Acquisition Fees , , (100,000) (100,000) 3, ,910 Traffic Mitigation Fees 233 2,052, , , ,529 2,381,790 RTCP-(Regional Arterial System) Fee , ,389 1, , ,907 Open Space Acquisition Fees ,207 13, (15,000) (1,185) 16,022 Recreational Trails Fees 236 6,469 3, (6,469) (2,945) 3,524 Community Facilities Fees , (18,272) Fire Mitigation Fees , (39,584) Flood Control Mitigation Fees ,211 48, (50,000) (1,725) 99,486 n Lieu Fees Curb Gutter Sidewalks , ,461 n Lieu Fees Underground Utilities ,243 2, , ,756 MUNCPAL MPROVEMENT DSTRCTS Villanitas Road M..D ,681 21,764 17, , ,283 Cerro Street M..D ,674 39,343 29, , ,027 Village Park M..D ,851 33,319 35, (2,433) 136,418 Wiro Park M..D ,885 11,039 16, (4,978) 4,907 Encinitas Lighting Landscape District ,493 1,171,285 1,249, (28,800) (106,947) 321,546 Encinitas Ranch Lighting Landscape 297 1,260, , , ,325 1,376,852 TOTAL CTY FUNDS 30,619,097 65,561,784 58,035, (3,979,161) (6,288,156) (2,741,293) 27,877,801 02/13/2013 tem #04 Page 7

8 FY : Revised Budget Summary Schedule A (includes Mid-Year Adjustments) Attachment B (Column 1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Adjusted nterfund nterfund nterfund nterfund Current Adjusted Fund Revenue Approved Transfers Transfers Transfers Transfers Year Projected Fund Balance Projections Expenditures Operating Other Debt Service Capital Summary Fund Balance FUND NAME # 7/1/2012 (+3-4+(5 8)) (+2+9) ENCNTAS PUBLC FNANCNG AUTHORTY Debt Service Fund ,000 4,114, ,979, TOTAL DEBT SERVCE FUNDS 0 135,000 4,114, ,979, CARDFF SANTARY DVSON FUNDS Operations ,779 4,580,170 2,907, (1,693,169) (20,266) 724,513 Debt Service , , , Rate Stabilization 511 1,228, ,228,766 Capital Replacement 512 3,985, ,533, (664,904) 1,693,169 (1,504,836) 2,480,176 Capital Expansion ,657 51, , ,912 TOTAL CSD FUNDS 6,316,214 4,661,425 6,135, (1,473,847) 4,842,367 ENCNTAS SANTARY DVSON FUNDS Operations ,088 2,858,272 1,583, (1,340,230) (65,262) 395,826 Rate Stabilization , ,800 Capital Replacement 522 3,149, ,798, ,340,230 (458,547) 2,691,227 Capital Expansion 523 2,092,904 80, ,400 2,173,304 TOTAL ESD FUNDS 6,609,566 2,938,672 3,382, (443,409) 6,166,157 AFFORDABLE HOUSNG STOCK Pacific Pines Affordable Housing , , , , ,384 TOTAL AFFORDABLE HOUSNG 388, , , , ,384 NTERNAL SERVCE FUNDS Wastewater Support , , Fleet Maintenance , , Vehicle Replacement ,317 73, , (205,000) 304,317 Mach Equipment Replacement , , , (22,000) 618,419 Fire Apparatus Replacement , , , , ,319 NTERNAL SERVCE FUNDS 1,501,056 2,449,109 2,598, (149,000) 1,352,056 TOTALS ALL FUNDS 45,434,501 75,978,779 74,462, (6,288,156) (4,771,733) 40,662,765 02/13/2013 tem #04 Page 8

9 Detail of General Fund Revenues, Expenditures, and Transfers - Schedule C For the Mid Year Budget Report February 13,2013 Attachment C Revenues: r Taxes: Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 FY FY FY FY FY FY FY Original 1st Qtr Off cycle Revised Actual Mid Year Mid Year Budget Requests & Prior Budget Amounts Requests Revise Adoption Date 6/20/ /14/2012 Approved 11/14/2012 Y-T-D 2/13/2013 2/13/ Property Taxes, Current Secured 32,708,369 33,038 32,741,407 15,844,469 32,741,407 2a Sales Tax Triple Flip 2,676, ,929 2,901, ,901,058 2b Sales Taxes 7,760,896 7,760,896 4,034,531 7,760,896 3 Transient Occupancy Tax 961, , , ,095 4 Documentary Transfer Taxes 291, , , ,312 5 Franchise Taxes 2,189,962 2,189, ,075 2,189,962 6 Total Taxes 46,587, , ,845,730 21,374, ,845,730 Other Revenues 7 Licenses and Permits 180, , , ,755 8 ntergovernmental Revenue 575, , ,350 (87,500) 488,103 9 Charges for Services 3,752,365 3,752,365 2,117,150 3,752, Fines & Penalties 689, , , , Use of Money 407, , , , Other Revenue 284, , , , , TOTAL REVENUES 52,477, , ,735,889 24,869, ,448 52,987,337 Expenditures: Cß"ëeral Government: 14 Community Projects 75,000 75,000 15,520 75, Legislative/City Council 380, , , , City Manager 782, , , , Arts Administration 150, ,356 76,032 5, , Economic Development 182, ,500 75, , Human Resources 920, , , , nformation Technology 1,455,124 1,455, ,636 1,455, Geographic nformation 620,385 5, , , , City Clerk 570, , , , Elections 32,100 50,172 82,272 82,271 10,000 92, Legal Services 308, , , , Financial Services 1,556,820 11,000 1,567, ,245 1,567, Central Services 241, ,994 81, , Non-Departmental 2,231,672 2,231,672 1,408,818 2,231, ,507,937 50,172 16,600 9,574,709 4,840,096 15,000 9,589,709 CP:aing and Building: 29 Customer Service/Admin 842, , , , Current Planning 780, , , , Applicant Deposits 6,000 6,000 2,710 6, Advanced Planning 609, , , , Code Enforcement 484, , , , Building Services 987, , , , ,710, ,710,043 1,923, ,710,043 CPu6JRs ifiv: 36 Law Enforcement 11,969,965 11,969,965 4,708,820 11,969, Parking Enforcement 83, ,500 29,547 83, ,053, ,053,465 4,738, ,053, Fire Administration 578, , , , Fire Operations & Support 10,187,215 10,187,215 5,119,618 10,187, Loss Prevention & Planning 660, , , , Disaster Preparedness 169, , , , Marine Safety Services 933, , , , ,529, ,529,626 6,312, ,529,626 02/13/2013 tem #04 Page 9

10 Detail of General Fund Revenues, Expenditures, and Transfers - Schedule C For the Mid Year Budget Report February 13,2013 Attachment C Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 FY FY FY FY FY FY FY Original 1st Qtr Off cycle Revised Actual Mid Year Mid Year Budget Requests & Prior Budget Amounts Requests Revise Adoption Date 6/20/ /14/2012 Approved 11/14/2012 Y-T-D 2/13/2013 2/13/2013 cpublic Works: 45 Administration 244, ,855 61,921 15, , Street Maintenance 1,631,797 1,631, ,635 1,631,797 47" Facility Maintenance-Civic 361, , , , Facility Maintenance-Fire Stations 191, , , , Facility Maintenance-PW Yard 211, , , , Facility Maintenance-Library 276, , , , Storm Water Maintenance 670, , , , Storm Water Flood Control 125, ,975 22, , ,714, ,714,216 1,908,2à8 15,000 3,729,216 Ëgineering Services: 54 City Engineering 2,321,939 2,321,939 1,187,382 2,321, Traffic Engineering 716, , , , Storm Water Compliance 779, , , , ,817, ,817,774 1,964, ,817,774 Parks and Recreation: 58 Administration 527, , , , Park Services 1,269,666 1,269, ,715 1,269, Beach Services 498, , , , Recreational Trails 125, ,531 54, , Recreation Services 620, , , , Community & Senior Center 1,183,505 1,183, ,817 1,183, Animal Regulation 324, , , , ,551, ,551,026 2,151, ,551, Subtotal 49,884,087 50,172 16,600 49,950,859 23,838,568 30,000 49,980, TOTAL EXPENDTURES 49,884,087 50,172 16,600 49,950,859 23,838,568 30,000 49,980,859 Excess of Revenues 68 Over Expenditures 2,593, ,795 (16,00) 2,785,030 1,030, ,448 3,006,478 CGeneLaTund Transfers To/From Other City. Funds 69 Transfers Out of GF (891,539) (891,539) (462,780) (891,539) 70 Transfers n to GF 1,047,915 1,047, ,958 1,047, Transfers to Debt Service (3,879,161) (3,879,161) (2,418,282) (3,879,161 ) 72 Transfers to Capital Projects (1,100,746) (1,100,000) (2,200,746) 90,741 (2,110,005) 73 Total Transfers (4,823,531 ) 0 (1,100,000) (5,923,531 ) (2,357,104) 90,741 (5,832,790) 02/13/2013 tem #04 Page 10

11 Attachment 0 General Fund Summary with Reserves Fund Source: City General Fund FY November 14, 2012 Mid Year February 13, 2013 Adjusted Adjustments Adjusted Beginning Fund Balance 18,480,198 18,480,198 2 Revenues Property Taxes, All Categories 27,462,104 27,462,104 Property Taxes in Lieu of VLF 5,279,303 5,279,303 Sales Tax Triple Flip 2,901,058 2,901,058 Sales and Use Tax 7,760,896 7,760,896 Transient Occupancy Tax (TOT) 961, ,095 Documentary Transfer Tax 291, ,312 Franchise Taxes 2,189,962 2,189,962 Licenses and Permits 180, ,755 ntergovernmental Revenue 575,603 (87,500) 488,103 Charges for Services 3,752,365 3,752,365 Fines & Penalties 689, ,750 Use of Money 407, ,212 Other Revenue 284, , ,422 3 Total Revenues 52,735, ,448 52,987,337 4 Operating Expenditures Personnel 26,897,434 5,000 26,902,434 Materials & Supplies 963,207 15, ,207 Contracts & Services 20,904,813 10,000 20,914,813 nternal Cost Allocation Expenses 1,006,152 1,006,152 Capital Outlay 33,598 33,598 Debt Service/Leases/Other 145, , st Quarter Adjustment Requests 6 Subtotal Operating Expenditures 49,950,859 30,000 49,980,859 7 Capital mprovement ProjectslWork Projects 2,200,746 (90,741) 2,110,005 8 Total Expenditures (6+7) 52,151,605 (60,741) 52,090,864 9 Transfers to the General Fund-Revenue From HUTA (Gas Tax) Fund (201) 990, ,059 From Fire Mitigation Fee Fund (238) 39,584 39,584 From Community Facilities Fees Fund (237) 18,272 18,272 10a Total Transfers to the General Fund 1,047, ,047,915 Transfers from the General Fund-Expenses To Self nsurance Fund (601) 845, ,000 To Recreation Fund (571) 46,539 46,539 To Debt Service Fund (301) 3,879,161 3,879,161 10b Total Transfers from the General Fund 4,770,700 4,770,700 10e Net Transfers To/From General Fund (3,722,785) 0 (3,722,785) 11 Current Year Net ( C ) (3,138,501) 312,189 (2,826,312) 12 Ending Fund Balance (1 + 11) 15,341,697 15,653, Contingency Reserves (20% of expenditures) 9,990,172 9,996, Budget Stabilization Reserve (2% of revenue projections) 1,054,718 1,059, Unappropriated Fund Balance ( ) 4,296,807 4,597,967 02/13/2013 tem #04 Page 11

12 Attachment E RESOLUTON NO A RESOLUTON OF THE CTY COUNCL OF THE CTY OF ENCNTAS ADOPTNG THE MD-YEAR BUDGET FOR FSCAL YEAR WHEREAS, each year the City of Encinitas City Council adopts a Budget for revenues and expenditures for the upcoming fiscal year; WHEREAS, the City Council desires to make provision for a level of service commensurate with the needs of the City; WHEREAS, the City Council has reviewed the proposed Fiscal Year Mid-Year Budget Report; NOW, THEREFORE, BE T RESOLVED, DETERMND AN ORDERED that the City Council of the City of Encinitas does, hereby, adopt the Mid-Year Budget Report for Fiscal Year as summarized by attachment, " Revised Budget Summary - All Funds (Schedule A)." PASSED AN ADOPTED this 13th day of February, 2013, by the following vote, to wit: AYES: NAYS: ABSENT: ABSTAN: ATTEST: Teresa Arballo Barth, Mayor City of Encinitas Kathy Hollywood, City Clerk 02/13/2013 tem #04 Page 12