DIAMOND SQUARE REDEVELOPMENT AGENCY AGENDA ITEM
Memo Date: January 18, 2024
Agenda Date: January 30, 2024
Prepared By: Ryan Browne, Redevelopment Coordinator
Through: Charlene Neuterman, Community Services Director
Requested Action:
title
Request Agency approval of a Resolution Amending the FY 2024 Budget, BAF# 24-044-T, in the amount of $150, due to the increased cost of Payroll-related accounts, including Insurances and Long-Term Disability. This projection is an estimate intended to cover the increased cost for the remainder of FY 2024.End
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BACKGROUND:
The cost of Payroll-related accounts, namely Insurances and Long-Term Disability, are estimated during the budget building process, which usually begins in May. However, because these are estimates, sometimes accounts may need to be increased to cover the projected costs once additional data and more accurate estimates become available later in the budgeting cycle. This adjustment is a normal such projection and adjustment.
The expense line reduced will be the Regular Salaries and Wages account, 111-3230-559.12-00.
Staff are requesting approval of the BAF and Resolution amending the FY 2024 Diamond Square CRA Budget.
BUDGETARY IMPACT:
Budgeted No
If not budgeted, is amendment/transfer attached? Yes
Amount Requested $75
Account Number 111-3230-559.23-00
Account Name Insurances
Amount Requested $75
Account Number 111-3230-559.23-09
Account Name Long Term Disability
Source of Funds: __x__ Transfer Acct #:111-3230-559.12-00
Regular Salaries and Wages
PREVIOUS ACTION:
N/A.
RECOMMENDED MOTION:
Recommendation
Request Agency approval of a Resolution Amending the FY 2024 Budget, BAF# 24-044-T, in the amount of $150, due to the increased cost of Payroll-related accounts, including Insurances and Long-Term Disability. This projection is an estimate intended to cover the increased cost for the remainder of FY 2024.