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Item 6CMEMORANDUM June 10.2O2O TO: ShanaYolvertnn.City Manager FROM: SharenJackson, Chief Financial Officer SUBJECT: Item 6C'Approval ofamended Fiscal Year 2020 South|oke Crime Control and Prevention District Operating Budget Action Requested: Approval of amended Fiscal Year 2020 South|ake Crime Control and Prevention District Operating Background Information: The purpose of this item is to seek board consideration of the revised Fiscal Year 2020 annual operating budget. The FY 2020 budget was developed pre-COV|D10and aaoresult ofthe economic impact sales tax and interest income require adjustments toreduce revenue projections. Financial Considerations: The proposed budget adjustment address the COV|D-1Qfinancial impact to reduce revenue projections by $500,899. Strategic Link: Fl: Adhere toFinancial management principles and budget Citizen Input/ Board Review: The budged amendment was approved by the Crime Control and Prevention District Board of Directors on June 9, 2020. Legal Review: None required. Alternatives: Approve orreject the budget submitted Supporting Documents: CCPD Fund Summary -Operating Budget Staff Recommendation: Approval ofthe amended Fiscal Year 2O2OCrime Control and Prevention District Operating Budget CRIME CONTROL DISTRICT FUND 2020 Revised Budget 2020 Original Adopted 2020 Revised Amended $ Increase/ (Decrease) Adopted % Increase/ -Decrease REVENUES Sales Tax $1,881,000 $1,408,601 ($472,399) -25.1% Miscellaneous Income $0 $0 $0 0.0% Interest Income $95,000 $66,500;' ($28,500) -30.0% Total Revenues $1,976,000 $1,475,101 ($500,899) -25.3% EXPENDITURES Personnel $1,161,249 $1,161,249''' $0 0.0% Operations $232,503 $232,503 0 0.0% Capital $510,419 $ 510 419' 0 0.0% $1,904,171' Total Expenditures $1,904,171 $0 0.0% Net RevenuesZ_1.829 0 Transfers In -SPDC $0 $0'i Transfer out -Crime Control CIP ($400,000) ($400,000) 0 Transfers Out -General Fund7( 9 040)7( 9.040)1 0 Total Other Sources (Uses) ($479.04010 Beginning Fund Balance $4,209,042 $4,029,621 Ending Fund Balance $3,801,831 $121 X111