TO: Mayor and Members of City Council
THRU: Doug Hewett, ICMA-CM, City Manager
Jay C. Toland, CMA, Assistant City Manager/CFO
FROM: Tracey Broyles, Budget and Evaluation Director
DATE: June 14, 2021
RE:
Title
Adoption of Budget Ordinance Amendment 2021-13 for the General Fund, Central Business Tax District Fund, Lake Valley Drive Municipal Service District Fund, and Fleet Maintenance Internal Service Fund
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal 5: Financially Sound City Providing Exemplary City Services
Executive Summary:
Council is requested to adopt Budget Ordinance Amendment (BOA) 2021-13 to adjust annual operating budgets for the General Fund ($2,148,400), Central Business Tax District (CBTD) Fund ($5,000), the Lake Valley Drive Municipal Service District (LVMSD) Fund ($1,003) and the Fleet Maintenance Internal Service Fund (FMISF) ($783,000) to ensure sufficient budget is available to meet year-end expenditure projections developed with the FY2022 budget process, to provide for additional funding needs recently identified, and to ensure sufficient budget availability should unexpected expenditures arise before the close of the fiscal year.
Background:
The additional $2,148,400 appropriation request for the General Fund includes: $783,000 to be transferred to the FMISF for the estimated cost to purchase equipment, inventory and supplies to allow for the transition from contracted fleet maintenance; $260,000 for taxes due on the Hay Street Parking Deck due to a delay in the ownership transfer to the City beyond January 1, 2020; and a total of $1,105,400 for Other Appropriations and the Support Services Portfolio to meet year-end projections and provide for additional budget to ensure statutory compliance should year-end expenditures exceed current projections. For Other Appropriations, the additional projected budget request is primarily to ensure statutory compliance for the fund...
Click here for full text