BUDGET GUIDELINES
Great Park Funds Budget Adjustment Orange County Great Park finances are governed by Orange County Great Park Corporation bylaws, City Council resolutions, and voter initiative ordinances. Budget Adjustments for Great Park expenses must adhere to strict regulations. Adjustments to the adopted or adjusted budget must be approved by the City Manager; Department Director; Manager of Budget and Business Planning; and Manager of Fiscal Services, reviewed by the Finance Commission (except when previously approved by the Orange County Great Park Board of Directors (Board), or when direction for the budget adjustment originates from a majority vote of the Board or City Council) approved by the Orange County Great Park Board of Directors, and approved by a majority vote of the City Council, unless the budget adjustment falls under one of the exceptions below.
Budget adjustment exceptions will be classified as one of the following types:
Approvals Required: Manager of Budget and Business Planning, Manager of Fiscal Services, and Department Director.
O. Adjustments in the Great Park Fund in a single department within the department’s Great Park Budget category that does not change the overall budgeted category expenditures.
P. Removal of up to $30,000 of surplus funds from a Great Park capital project, returning funding to the original source(s).
Approvals Required: Manager of Budget and Business Planning, Manager of Fiscal Services, Department Director, and City Manager.
Q. Removal of between $30,000 and $50,000 of surplus funds from a Great Park capital project, returning funding to the original source(s).
Budget Adjustment Procedure The originating department’s personnel will either generate the budget adjustment form or request Fiscal Services staff help to prepare the form. The Manager of Budget and Business Planning will initiate budget adjustments that affect more than one department (such as year-end funds and citywide salary and benefit changes). The budget adjustment request form must be filled out completely and include the following: General Information: department, division, section, service, name of person initiating request, and date of commission and council meetings (only for those that require this level of review); Reason for Request: reason code, short description, and justification; Fiscal Impact: description, account number, fund number, and amount of increase/decrease (rounded to the nearest dollar); Back up documentation supporting the budget adjustment; and, All required signatures. If the budget adjustment requires Finance Commission review and/or City Council approval, one of the recommended actions should be to approve, or recommend approval of, the budget adjustment. If the City Council report does not clearly authorize the adjustment, it will be necessary to return to the City Council with another report for authorization for the budget adjustment.
FY 2019-21 Proposed Budget
531
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