| Meeting Date: |
THURSDAY MAY 143, 2013 |
| Meeting Type: |
SPECIAL |
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| Council File Number: |
13-0600 |
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Item Description:
Item No. (10)
One-Time Revenue For One-Time Expenditure Policy: The City's Budgetary Policies state that to the extent possible, current operations will be funded by current revenues, The use of unencumbered prior year balances in all funds shall be scrutinized and carefully limited to be used primarily for one-time expenditures. One-time revenues will only be used for one-time expenditures. The City will avoid using temporary revenues to fund on-going programs or services. The Mayor's 2013-14 Proposed Budget includes $145.5M in one-time revenue and identifies $88M in onetime expenditures, suggesting that $57M is for ongoing expenditures, One-time revenues are anticipated from the transfer of Budget Stabilization Funds ($53.5M), prior-year reimbursements for Fire emergency medical services (AB 678) ($23.6M), transfer of surplus Special Parking Revenue Funds ($13.6M, with an additional $21M considered ongoing revenue), a tax amnesty program ($5.5M), transportation grants reimbursement ($42.6M), Police overtime reimbursement ($1 M), Telecommunications Development Account transfer ($5.22M) and Parking Users' Tax discovery program ($0.4M). Therefore, there is more than $57M in one-time financial resources supporting ongoing expenses. The Budget and Finance Committee recommendations identify $35.9M in ongoing revenues, which significantly reduces the amount of one time funding proposed by the Mayor for ongoing costs in the FY2013-14 Budget. |
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| Pertinent Council Districts: |
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NONE
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| Member Name |
CD |
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| Vacant (VACANT) |
6 |
ABSENT
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| RICHARD ALARCON |
7 |
YES
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| JOE BUSCAINO |
15 |
YES
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| MITCHELL ENGLANDER |
12 |
YES
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| ERIC GARCETTI |
13 |
YES
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| JOSE HUIZAR |
14 |
YES
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| PAUL KORETZ |
5 |
YES
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| PAUL KREKORIAN |
2 |
YES
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| TOM LABONGE |
4 |
ABSENT
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| BERNARD C PARKS |
8 |
YES
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| JAN PERRY |
9 |
YES
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| ED REYES |
1 |
YES
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| BILL ROSENDAHL |
11 |
ABSENT
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| HERB WESSON |
10 |
YES
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| DENNIS ZINE |
3 |
YES
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