Title
An Ordinance approving Amendment No. 14 to the budget for the Fiscal Year ending June 30, 2024, as adopted by Ordinances 9704, 9705, 9706, 9707, and 9708, by amending the authorized expenditures for the City. (F&BC 6/3/24)
Body
Issue/Request:
An Ordinance approving Amendment No. 14 to the budget for the Fiscal Year ending June 30, 2024, as adopted by Ordinances 9704, 9705, 9706, 9707, and 9708, by amending the authorized expenditures for the City.
Key Issues:
-During the FY25 process the Budget Team identified expansion requests that could be funded out of the FY24 Budget
-Some items are being purchased by the departments using existing money
-This amendment includes the transfer of money from the General Fund to ITS, CBS, and Fleet for purchases or projects that require a longer delivery time or are part of a Equipment Replacement Program (ERP)
-The City has received the money from the sale of the first bonds from the No Tax Increase Bond issue in April 2023 identified as Series 2024A. This action recognizes the money into the fund
-The last item is a FY24 Budget clean up item. Expenses were not budgeted for Fund 362, Public Safety Bonds 2022B. The money was spent per the election promise and CIP in FY24 on the construction of Fire Stations No. 4 and No. 5. This amendment provides the spending authority out of Fund 362
Presenter
Rick Gentry, Budget Manager
Recommendation
Staff recommends approval