D10817 White — City Clerk CITY O F SAINT 13A U L
Pink — Finance Dept.
Canary— Dept. No:
OFFICE OF THE MAYOR �lo(,QQ
I
• ADMINISTRATIVE ORDER Date: 1 -30 _�
BUIXXT REVISION
:LD.NIL1'ISTX-1M7E ORDER,Consistent with the authority granted to the Mayor in Section 10.07.4 of the City Charter and
based on the request of the Director of the Department of Finance & Management Services
to amend the 1989 budget of the Debt Service fund.the Director of the Department
of Finance and Management Services is authorized to amend said budget in the following manner:
Current Amended
Budget Change Budget
Finance and Management Services
Debt Service Fund 960
General Debt - 1987 Bonds
89987-0611 GO Long Term Interest 484,963 594,600 1,079,563
89955-0631 Escrow Payment 594,600 (594,600) 0
1,079,563 0 1,079,563
General Debt - 1989 Bonds
89989-0611 GO Long Term Interest 0 834,375 834,375
89989-0613 Pending Bond Sale Interest 834,375 (834,375) 0
834,375 0 834,375
•
repared by:Activity Manager Approved by:
Requested by:Depart director i (, Data
DEPARTMENT/OFFICE/COUNCIL EASIGN INITIATED
GREEN SHEET NO. k
Finance and Management Sep 'ces ;Treasury 22/90 L,,6-� '�°
INITIAL/DATE INITIAUDATE
CONTACT PERSON&PHONE DEPARTMENT DIRECTOR CITY COUNCIL
Shirley Davis 292-7038 CITY ATTORNEY CITY CLERK
BER FOR ST BE ON COUNCIL AGENDA BY(DATE) 't r:? TING UDGET DIRECTOR C ,?/r FIN.&MGT.SERVICES DIR.
ER gMAYOR(OR ASSISTANT) ® Chief Accountant
TOTAL#OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE)
ACTION REQUESTED:
This Administrative Order changes the 1989 Debt Service Budgets for the 1987 Crossover WPA Refunding Bonds and
1989 Bond issues to reflect the changed activity and expense codes.
RECOMMENDATIONS:Approve(A)or Reject(R) COUNCIL COMMITTEE/RESEARCH REPORT N L
PLANNING COMMISSION _ CIVIL SERVICE COMMISSION ANALYST PHONE NO.
_CIB COMMITTEE
COMMENTS:
STAFF
DISTRICT COURT OFFICE OF THE DW,' L (�
SUPPORTS WHICH COUNCIL OBJECTIVE? ., J DEPARTMENT CIF MANAGE��EN �
1'
INITIATING PROBLEM,ISSUE,OPPORTUNITY(Who,What,When,Where,Why):
1987 WPA Refunding Issue
-The 1989 Budget should have reflected 89987 (specific bond year) not 89955 (General Debt). The escrow
payment is budgeted in 0631, but actually paid from 0611 (G.O. Long Term Interest).
1989 Bonds
-Funds are budgeted a year in advance in 0613 (Pending Bond Sale Interest). They are actually paid from 0611
(G.O. Long Term Interest).
ADVANTAGES IF APPROVED:
'he 1989 Budget will reflect the actual expenditures in their appropriate codes.
DISADVANTAGES IF APPROVED:
RECEIVED
JAN 26 1990 RECEIVED
BUDGET OFFICE JANNINQ
CITY CLERK
DISADVANTAGES IF NOT APPROVED:
TOTAL AMOUNT OF TRANSACTION $ COST/REVENUE BUDGETED(CIRCLE ONE) YES NO
FUNDING SOURCE ACTIVITY NUMBER
FINANCIAL INFORMATION:(EXPLAIN)