Title
AN ORDINANCE APPROVING AMENDMENT NO. 10 TO THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2018, AS ADOPTED BY ORDINANCE NO. 8162, BY REVISING THE AUTHORIZED EXPENDITURES FOR THE CITY OF LEE’S SUMMIT. (F&BC 2-5-18).
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Issue/Request:
AN ORDINANCE APPROVING AMENDMENT NO. 10 TO THE BUDGET FOR THE FISCAL YEAR ENDING JUNE 30, 2018, AS ADOPTED BY ORDINANCE NO. 8162, BY REVISING THE AUTHORIZED EXPENDITURES FOR THE CITY OF LEE’S SUMMIT.
Key Issues:
Before the start of a new fiscal year, City departments will project the final anticipated revenues and expenditures, in the current fiscal year, for their proespective fund or department. The year-end projections are developed to help identify a more accurate financial condition. In some instances, budget amounts are calculated 6 to 12 months before the start of the fiscal year. The process of calculating year-end projections helps refine anticipated revenue and expenditures, and cost savings.
Since the adoption of the original budget on June 1, 2017, and subsequent budget amendments, the following departments have projected incurring additional costs that would exceed budgeted amounts:
1. Finance ($921,117): As a result of the policy to recover 50% of EMS related expenses, the fees charged for EMS service has increased since FY16. As a result, the insurance adjustment cost has increased commensurate with the increase in fees. The reimbursements from Medicare and Medicaid are only a fraction of what is necessary to cover EMS-related costs as outlined in the cost recovery policy.
2. Fire ($253,098): This budget amendment is for increased overtime to maintain minimum staffing levels.
3. Parks & Recreation Fund ($510,000): The Park Board approved the transfer to Park Construction Fund for the Amphitheater project.
4. Road & Bridge Fund ($3,367,000): The $3,367,000 is two separate transfers to F321 Airport Construction to fund the local match portion of federal grants.
5. F410 Park COP Debt ($4,025,000): T...
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