MEETING DATE: 10/25/2016
DEPARTMENT: COUNTY ADMINISTRATION OFFICE
DEPT HEAD/DIRECTOR: Ray Espinosa
AGENDA ITEM PREPARER: Melinda Casillas
SBC DEPT FILE NUMBER: 865
SUBJECT:
COUNTY ADMINISTRATION OFFICE - R. ESPINOSA
Request for Approval of County of San Benito FY 2015-16 Year End Budget Adjustments.
SBC FILE NUMBER: 865
AGENDA SECTION:
CONSENT AGENDA
BACKGROUND/SUMMARY:
As part of the year-end procedures, the budget for FY 15/16 needs to be adjusted to match the actual places items were posted to on the General Ledger.
The budget is an estimated guess of how each department will perform during the FY, and the budget is compiled in advance of the actual expenditures for each FY.
The ERP checks each object category (Salary & Benefits, Services & Supplies, Fixed Assets, etc.) against the budget. Sometimes invoices are posted to different accounts other than where budgeted. This is due to various interpretations of what account titles mean, or various circumstances arise that account for the use of different charges.
This year end procedure matches the budget and actual GL postings together. It does not change the overall integrity of the budget.
This process is done annually to more closely match the budget to the actual object level postings in the General Fund.
This does not affect the overall integrity of the Adopted Budget for FY 15/16.
BUDGETED: