HomeMy WebLinkAbout11 - BA-032 - Unanticipated Revenue FundsCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 11
(January 14, 2003)
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Recreation & Senior Services Department
Marie Knight, Director
949 - 644 -3157
m knight @ city.newport- beach.ca. us
SUBJECT: Budget Amendment
RECOMMENDATION
Please approve a budget amendment to appropriate unanticipated revenue funds in the
amount of $19,400 from account 4340 -5144 to expenditure account 4340 -8080.
DISCUSSION
The Recreation Department anticipates projected revenue derived from the Aquatics
programs to be $168,000, an increase of $60,000 from the original projection of
$108,000. This revenue exceeds the original revenue estimate by 56 %.
Higher than expected enrollment in these programs has resulted in both increased
revenue and increased expenses for class instructors and program supplies. The
Recreation Department anticipates an increase in expenses for the remainder of the
fiscal year to be $19,400 to cover increased programs. This will result in a net revenue
gain of $40,600 above the original estimate.
Environmental Review: N/A
Prepared by:
Attachments: Anticipated Revenue for NBAC
Submitted by:
Marie Knl ht, Recreation & enio ervices Director
Anticipated Revenue for Ted Bandaruk (NBAC)
Accounts # 4340 - 8080/5144
Winter (Jan - March)
Revenue
Admin Fee
Expens
CDM Water Polo Club'
$5,400
$120
$3,960
Jr. Water Polo
$7,000
$120
$5,160
NBAC Swim
$7,000
$105
$5,171
Winter /Spring (April June)
Jr. Polo
NBAC Swim
'New Program
TOTAL
Budgeted
4340 -8080 $51,500
ua Revenue
$1,320
$1,720
$1,724
$12,250 $210 $9,030 $3,010
$10,000 $150 $7,388 $2,463
$41,650
Anticipated
Budget
$70,900
4340 -5144 $108,000 $168,000
$705 30,709 $10,237
Additional
Funds Needec
$19,400
Additional
Revenue
$60,000
% Increase
38%
56%
Justifications for 8080 increase:
1. 'The addition of a 2 month club program which adds 40 participants @ $135 per person.
2. A 40% increase increase in swim team participation.
3. A $25 dollar increase in fees per person for the swim program.
City of Newport Beach
BUDGET AMENDMENT
2002 -03
EFFECT ON BUDGETARY FUND BALANCE:
Increase Revenue Estimates
X Increase Expenditure Appropriations
Transfer Budget Appropriations
SOURCE:
from existing budget appropriations
X from additional estimated revenues
from unappropriated fund balance
EXPLANATION:
NO. BA- 032
AMOUNT: $1s,aoo.00
Increase in Budgetary Fund Balance
AND Decrease in Budgetary Fund Balance
X No effect on Budgetary Fund Balance
This budget amendment is requested to provide for the following:
To increase revenue estimates and expenditure appropriations due to higher than expected enrollment in aquatics programs,
ACCOUNTING ENTRY:
BUDGETARY FUND BALANCE
Number
Fund Account
Description
Division
REVENUE ESTIMATES (3601)
Account
Fund /Division Account
Description
4340 5144
Aquatics Programs
EXPENDITURE APPROPRIATIONS (3603)
Division
Division
Number
Account
Number
Division
Number
Account
Number
Division
Number
Account
Number
Division
Number
Account
Number
Division
Number
Account
Number
Signed:
Signed:
Signed:
Administrative
Description
4340 Recreation - Aquatics
8080 Services, Professional & Technical
Amount
Debit Credit
$19,400.00
$19,400.00
Administre ive Services Director Date
al: City Manager gate
3
City Council Approval: City Clerk
Date