With less than two weeks left in the year, cities all over are tweaking their financial books to reflect necessary appropriations and transfers.
Beachwood City Council followed the trend on Monday by passing ordinances that affect appropriations for this year and next.
- Council passed an ordinance accepting Finance Director David A. Pfaff's temporary appropriations for 2013. These numbers are based on year-end balances and, along with resource estimates from the county, will help Pfaff create the annual appropriations document in the near future. Pfaff estimates a $1.2 million surplus for the city's general fund, according to a city memo.
- The city will transfer $150,000 from the general fund to the street construction/maintenance fund as a result of a council vote. Pfaff said the street construction/maintenance fund has received $494,515 from gasoline tax and license fees, though it budgeted for $650,000. The 2012 resurfacing program will be charged to this fund.
- Council authorized an appropriation increase of $150,000 for the law department in anticipation of unspecified litigation. The Law Enforcement Trust, Federal Equitable Sharing and Eaton Tax Increment Financing funds were also reduced, based on revenue and/or actual expenditures for the year.
