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City of Colton <br />Fiscal Year 2007-08 Mid -Year Budget Requests <br />Division <br />Salary Savings <br />Revenue Adjustments <br />Redevelopment Agency <br />Low/Mod Capital Project - Colton Palms <br />Utilities <br />Property Tax <br />Agency Total <br />Exhibit A <br />Justification <br />$ 15,000 Cover utility costs for Colton Palms <br />170,000 Cover property taxes on vacant units at Colton Palms <br />$ 185,000 <br />Acct. <br />Amount <br />Account # <br />Title Requested <br />Community <br />Development <br />$ <br />(14,500) <br />Community Services <br />Library <br />(10,000) <br />PD <br />(350,000) <br />Total Savings <br />$ <br />(374,500) <br />Amount required <br />at mid -year <br />$ <br />192,500 <br />100-5403 <br />Building Permits <br />$ <br />(75,000) <br />100-5308 <br />Sales & Use Tax <br />(1,200,000) <br />100-6706 <br />Plan Check Fees <br />(75,000) <br />Total Revenue <br />Reductions <br />$ <br />(1,350,000) <br />Transfer in from <br />Host City Fees <br />$ <br />50,000 <br />Net impact on UF <br />Reserves <br />$ <br />(1,492,500) <br />Undesignated <br />Fund Balance <br />at 6/30/07 (audited) <br />$ <br />8,654,865 <br />Economic Uncertainty <br />Reserve <br />1,056,491 <br />Total General Fund <br />Reserve as a % <br />24.80% <br />Redevelopment Agency <br />Low/Mod Capital Project - Colton Palms <br />Utilities <br />Property Tax <br />Agency Total <br />Exhibit A <br />Justification <br />$ 15,000 Cover utility costs for Colton Palms <br />170,000 Cover property taxes on vacant units at Colton Palms <br />$ 185,000 <br />