Title
CPUH Budget Transfer and Account Clean-Up (B)
Explanation
In May 2008, the CRA implemented a new project naming and numbering system to have more accountability for projects and better visibility into budget. Prior to this new system, budget dollars were grouped into macro-level budgeting units. For example, if $100,000 was approved for lighting upgrades along NW 5th Ave and $50,000 was approved for general streetscape improvements along NW 6th St, then $150,000 could be budgeted into a General Streetscape account to cover both projects.
With the newly implemented project naming and numbering system, each project has been assigned a separate budget account. CRA staff has performed an extensive analysis, which required reviewing prior year budgets, reviewing approved agenda items, and reviewing the details of Advisory Board budget items, to research the accounting in each budget account. As a result of this analysis and new project system, there are budget transactions required to transfer dollars from existing accounts to newly created budget accounts.
The account clean ups for Eastside, FAPS, and Downtown areas were approved by the CRA in August 2008 and transfers to clean-up account occurred in September 2008 just prior to the close of Fiscal Year 2008. Due to the Strategic Planning efforts and number of CPUH accounts to be reviewed, CPUH was not included in the clean-up process.
A summary of the proposed budget transfers is included as back-up.
Fiscal Note
The transfers will result in a net zero dollar impact. CRA staff will prepare a Budget Transaction Form and City Finance and Budget will review and perform the budget transfers. The CRA project number is CFED-04.04-BU-2008:Multi-Year Budget Clean-up.
Recommendation
CRA Executive Director to the CRA: Approve Budget Transfers as presented.