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File #: BILL NO. 20-230    Name:
Type: Ordinance Status: Passed
File created: 12/9/2020 In control: City Council - Regular Session
On agenda: 12/15/2020 Final action: 1/5/2021
Title: An Ordinance approving Amendment No. 4A to the budget for the Fiscal Year ending June 30, 2021, as adopted by Ordinance No. 8905 and Ordinance No. 8906, by amending the authorized expenditures in the Business & Industry Fund for the City of Lee’s Summit, Missouri. (Note: First reading by Council on December 15, 2020.)
Attachments: 1. Ordinance, 2. FY21 Budget Amendments tracker - Amendment No. 4A

Title

An Ordinance approving Amendment No. 4A to the budget for the Fiscal Year ending June 30, 2021, as adopted by Ordinance No. 8905 and Ordinance No. 8906, by amending the authorized expenditures in the Business & Industry Fund for the City of Lee’s Summit, Missouri.

(Note: First reading by Council on December 15, 2020.)

 

Body

Issue/Request:

An Ordinance approving Amendment No. 4A to the Budget for the Fiscal Year ending June 30, 2021, as adopted by Ordinance No. 8905 and Ordinance No. 8906, by amending the authorized expenditures in the Business & Industry Fund for the City of Lee’s Summit, Missouri.

 

Key Issues:

The Business & Industry (B&I) Fund contains the expenditures for the Public Service Agreements (PSA).  The revenue source for the B&I Fund is the Hotel/ Motel Tax.  When the FY21 Budget was approved by the City Council, the decision was made to budget the hotel/ motel tax revenues for the full year and provide six months (half of the normal expenditure amount) of funding to the PSA organizations. 

 

After presentations to the Finance and Budget Committee and the full City Council, direction was given to City staff to prepare an ordinance outlining extensions to the PSA contracts for the second half of the fiscal year. A budget amendment is needed to authorize the additional expenditures in the Business and Industry Fund.

 

This proposed budget amendment number 4A is for the Business and Industry Fund that will be allocated to the Lee’s Summit Chamber of Commerce pursuant to public service agreements.

 

Proposed City Council Motion:

 I move for adoption of an Ordinance approving Amendment No. 4A to the budget for the Fiscal Year ending June 30, 2021, as adopted by Ordinance No. 8905 and Ordinance No. 8906, by amending the authorized expenditures in the Business & Industry Fund for the City of Lee’s Summit, Missouri.

 

Background:

At the Finance and Budget Committee meeting on November 9, 2020, and the City Council meeting on December 1, 2020, information on the PSA contracts and the Business and Industry Fund was discussed.  From those meetings direction was given by the City Council to bring forward the extensions to the PSA contracts, which caused the need for budget amendment number 4 and this budget amendment.

 

Impact/Analysis:

The budget amendment is a request to increase the authorized expenditures in the Business and Industry Fund by $50,984.94.

 

Other Information/Unique Characteristics:

The purpose of the budget amendment is to authorize additional funds for the extension of the PSA contracts. 

 

Presenter

Steve Arbo, City Manager

Chris Clubine, Management Analyst

 

Recommendation

Staff recommends approval of the budget amendment.