CITY COUNCIL AGENDA ITEM
Memo Date: July 30, 2024
Agenda Date: August 27, 2024
Prepared By: Zoie Badalov, Staff Accountant
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director; Stockton Whitten, City Manager
Requested Action:
title
FY 2024 July Budget Adjustment Report
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BACKGROUND:
Pursuant to the Cocoa City Charter, Article XII, Section 5.b., the following report details the budget adjustments that were approved in Fiscal Year 2024 thru July 31th, 2024.
Section 5. - Appropriations.
(a) Appropriations for expenditures shall be established by the budget, and from the effective date of the budget the several amounts stated therein as proposed expenditures shall be and become appropriated to the several objects and purposes set forth in the budget.
(b) At any time during the fiscal year the city council may by resolution transfer part or all of the unencumbered appropriation balance from one department or major organizational unit to the appropriation for other departments or major organizational units. The city manager may transfer part or all of any unencumbered appropriation balances among programs within a department or organizational unit and shall report such transfers to the city council in writing in a timely manner. The monetary amount of the city manager's transfer authority shall be established by the city council by resolution.
STRATEGIC PLAN CONNECTION:
The information contained in this report provides to stakeholders increased transparency related to budget adjustments.
BUDGETARY IMPACT:
None
PREVIOUS ACTION:
None
RECOMMENDED MOTION:
Recommendation
Informational Item Only