FINANCIAL POLICIES
Post-Budget Approval Adjustments Adjustments to the adopted operating budget must be approved by the City Manager; Department Director; Manager of Fiscal Services; and Manager of Budget & Purchasing, reviewed by the Finance Commission (except when previously reviewed and approved by the Great Park Board of Directors, or when direction for the budget adjustment originates from a majority vote of the City Council) and approved by a majority vote of the City Council, unless the budget adjustment falls under one of the exceptions below.
Budget adjustment exceptions fall into one of the following types:
Approvals Required: Department Director, Manager of Fiscal Services, and Manager of Budget & Purchasing.
A. Adjustments to revenues and/or expenditures in a single fund up to $30,000 that do not decrease fund balance.
B. Adjustments in a single department within a single fund that do not change the overall budgeted expenditures.
C. Donations and related expenditures up to $30,000 that do not require on-going financial commitment, long-term commitment to a program or service, matching funds, or recognition by the City Council.
D. Grant agreements that have previously been approved by the City Council during the application process.
Approvals Required : Department Director, Manager of Fiscal Services, Manager of Budget & Purchasing, and City Manager. E. Adjustments to revenues and/or expenditures in a single fund between $30,000 and $50,000 that do not decrease fund balance. F. Donations and related expenditures between $30,000 and $50,000 that do not require on-going financial commitment, long-term commitment to a program or service, matching funds, or recognition by the City Council.
G. City Manager, when appropriate, may approve an adjustment within the General Fund only that does not increase or decrease the overall fund balance of the General Fund.
FY 2023-25 Adopted Budget
451
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