Title
AN ORDINANCE APPROVING AMENDMENT NO.6 TO THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2017, AS ADOPTED BY ORDINANCE NO. 7894, BY REVISING THE AUTHORIZED BUDGET EXPENDITURES OF THE CITY OF LEE’S SUMMIT, MISSOURI. (F&BC 12/5/16)
Body
Issue/Request:
AN ORDINANCE APPROVING AMENDMENT NO.6 TO THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2017, AS ADOPTED BY ORDINANCE NO. 7894, BY REVISING THE AUTHORIZED BUDGET EXPENDITURES OF THE CITY OF LEE’S SUMMIT, MISSOURI.
Key Issues:
The City’s Capital Improvement Plan (CIP) outlines multiyear capital projects and programs. The multiyear plan requires an annual adjustment to the budget so that the unused funds will be available in future years.
This process, called “roll over”, will amend the FY17 budget and authorize additional expenses in the current year without changing a capital project’s lifetime budget.
Proposed City Council Motion:
I move to recommend to City Council approval of AN ORDINANCE APPROVING AMENDMENT NO.6 TO THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2017, AS ADOPTED BY ORDINANCE NO. 7894, BY REVISING THE AUTHORIZED BUDGET EXPENDITURES OF THE CITY OF LEE’S SUMMIT, MISSOURI.
Background:
The CIP is a multiyear plan adopted by the City Council annually. A project’s lifetime budget is established when the CIP is adopted and is allocated to the first year of the project after it is approved. Annual expenses can vary depending on the timeline for design and construction.
Presenter
Presenter: Nick Edwards
Recommendation
Recommendation: Staff recommends approval of AN ORDINANCE APPROVING AMENDMENT NO.6 TO THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2017, AS ADOPTED BY ORDINANCE NO. 7894, BY REVISING THE AUTHORIZED BUDGET EXPENDITURES OF THE CITY OF LEE’S SUMMIT, MISSOURI.
Committee Recommendation
Committee Recommendation: On motion made by Councilmember Forte, second by Vice Chair Seif, the Committee voted unanimously that this ordinance be recommended for approval to the City Council.