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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: NOVEMBER 20, 2006 TITLE: APPROPRIATION ADJUSTMENT RECOGNIZING CENTENNIAL PARK FUND BALANCE CLERK OF COUNCIL USE ONLY: APPROVED As Recommended As Amended Ordinance on 15` Reading Ordinance on 2"d Reading Implementing Resolution Set Public Hearing For_ CONTINUED TO ;> FILE NUMBER CI MANAGER RECOMMENDED ACTION Approve an appropriation adjustment recognizing prior year revenue in the amount of $135,898 in the Centennial Park Maintenance revenue account (account no. 77-01-5010) and appropriate same to the Park Building Services expenditure account (account no. 11-260-various). DISCUSSION On January 14, 1976 the City of Santa Ana and the County of Orange entered into an agreement for the development, maintenance and operation of Centennial Regional Park. The terms of the agreement mandated that the City and the County share 50 percent of the revenues and 50 percent of the operations and maintenance of the park site. Although this arrangement benefited the City and County for 30 years, the agreement with the City and County terminated last fiscal year. The City now assumes sole responsibility of ownership, operations and maintenance of Centennial Park. The recommended action will transfer the Centennial Park fund balance from the Centennial Park Maintenance fund to the General Fund Park Building Services activity to pay for the sidewalk installation at the Centennial Park Mohawk entrance, and other park projects. FISCAL IMPACT This appropriation adjustment will recognize prior year revenue in the amount of $135,898 in the Centennial Park Maintenance revenue account (account no. 77-01-5010) and appropriate same to the Park Building Services expenditure account (account no. 11-260-various). ~~ ~~ -~.V-- , Gerardo Mouet Executive Direc Parks, Rec. and br Com. Svcs. Agency APPROVED AS TO FUNDS AND ACCOUNT: C-~ ~~- rancisco Gutierrez ~~ Executive Director Finance and Mgmt. Services Agency~~ 20A-1