CITY COUNCIL AGENDA ITEM
Memo Date: February 10, 2020
Agenda Date: February 26, 2020
Prepared By: Lora Howell, Deputy Finance Director
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director
Requested Action:
title
Approve Budget Adjustment 20-038-A, Amending the FY2020 Budget for the Capital Project Fund Riverfront Park/Lee Wenner.
End
body
BACKGROUND:
During the FY2020 Budget Roll, Capital Projects Account 302-3580-519.63-00, was inadvertently supplied budget in the amount of $1,719,250. The activity code of 519, was changed between fiscal years, to the correct activity code in the State Chart of Accounts to 572 (Parks). Because of this change, when we rolled the budget forward from FY2019, the incorrect account was also provided budget in FY2020. This Budget Amendment 20-038-A, will remove the budget with Activity Code (519) and it will not be used going forward for this project. The correct Activity Code (572) has sufficient budget in place, for the projects at the Riverfront and Lee Wenner Parks.
STRATEGIC PLAN CONNECTION:
Budget/Accounting Correction
BUDGETARY IMPACT:
Budgeted Yes
If not budgeted, is amendment/transfer attached? Yes
Budget Amendment # 20-038-A
Amount Requested ($1,719,250)
Account Number 302-0000-389.99-50
Account Name Capital Projects Fund Balance Reserves
Amount Requested ($1,719,250)
Account Number 302-3580-519.63-00 (ES17HI)
Account Name Infrastructure
PREVIOUS ACTION:
NA
RECOMMENDED MOTION:
Recommendation
Approve Budget Adjustment 20-038-A, Amending the FY2020 Budget for the Capital Project Fund Riverfront Park/Lee Wenner.