CITY COUNCIL AGENDA ITEM
Memo Date: April 12, 2021
Agenda Date: April 27, 2021
Prepared By: Lora Howell, Deputy Finance Director
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director
Requested Action:
title
Approve a Resolution Amending the FY 2021 Budget, BAF # 21-068-A, for the Mid-Year, Budget Review and Cleanup, Through the use of Fund Balance Reserves, Contingency and Transfers between Object Classifications, within each Fund.
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BACKGROUND:
After the adopting of the annual budget, circumstances arise which require a comprehensive review of the City’s entire budget at the mid-year point. Items such as unbudgeted revenues, additional budget for open Purchase Orders, unexpected accrual payouts due to retirements, project adjustments and miscellaneous expenses do occur.
Attached to this agenda is a Budget Adjustment Tracking Sheet and the Budget Adjustment Form # 21-068-A, with a breakdown of the above-mentioned amendments and transfers within the FY21 Budget, through the use of Fund Balance Reserves, Contingency, or transfers within the departments Object Classification lines.
These adjustments effect: General Fund, Law Enforcement Trust, Water/Sewer Fund and the Renewal and Replacement Fund.
Staff requests, City Council approval of the attached Budget Adjustment Form, BAF#21-068-A, for the Mid-Year Review and Budget Cleanup.
STRATEGIC PLAN CONNECTION:
N/A
BUDGETARY IMPACT:
See the Attached Tracking Sheet and BAF#21-068-A, for all of the entries.
PREVIOUS ACTION:
N/A
RECOMMENDED MOTION:
Recommendation
Approve a Resolution Amending the FY 2021 Budget, BAF # 21-068-A, for the Mid-Year, Budget Review and Cleanup, Through the use of Fund Balance Reserves, Contingency and Transfers between Object Classifications, within each Fund.