HomeMy WebLinkAboutAgenda Statement 1972/08/15 Reso 6557
August 15, 1972
Resolution No. 6557
C,e~y Q~~~~ney: P.~ea~e j~ne~ane the ~.ece.~~a~.y ~~.e~o2ec~-canj aye (c~~.dtiv~a~c~i .
Staff Commentary on Agenda Item No,
CHL'LA VISTA CITY COUNCIL MEETING OF August 15, 1972
Item Ti t le• TRANSFER OF FUNDS - CASH BASIS TO GENERAL FUND
Initiate d by - GORDON K. GRANT, DIRECTOR OF FINANCE
Attached is a copy of P-.e solution ~ ~ Ordinance ~ _~ ~_~~eem~e'n~- I i Plat ~ ]
Background:
Section 1112 of the City Charter authorizes the City Council
to make transfers of the Cash Basis Fund from time to time as the
need arises to finance the operations of the City. The mast
critical period of need is from July 1 to December 31 each year,
this being the time when ad valorem property taxes are collected
by the County of San Diego and not received until late in December.
The request is to transfer the amount of $235,456 in the Cash
Basis Fund to the General Fund. This amount must be returned by
June 30, 1973.
Financial
Statement:
Commission-Board
Recommendation:
Department Head
Recommendation : Approval
City Manager
Recommendation:
GKG:vl
See EXHIBITS [ ] No.
q- t 13 ISe~.d c~~.e co~.y ~~: Adm~:~.~:~~na~~~:~n; Cti~y Cke~r.~Z; Cti~y A~~c~~~ey; ~~r~~ ~~
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