Impact
WARD / COUNCILMEMBER: Ward / Citywide
$ IMPACT: See attached
Title
Approval to amend the budget for items not included in the FY 2022 budget adoption.
Ward / Citywide
Body
ISSUE AND BACKGROUND:
During FY 2022, several expenditures have occurred that were not included in the adopted budget. For financial reporting purposes, the budget needs to be amended to cover these expenditures.
The General Fund needs to be amended as follows:
1. Amend to include the final amounts paid in the annual leave sell back that was previously approved by Council at the end of 2021. An estimate to be paid was provided. The actual amount was less than anticipated. The departmental budgets need to be amended to cover these payouts. The total amount paid was $100,925.
2. Amend the General Fund budget to account for the flow between funds related to the sale of property.
3. Amend the budget to reduce both revenue and expense budgets as a result of the change during the year to the commercial sanitation agreement.
The Multiple Grant Fund needs to be amended to remove the budget initially adopted related to CARES funding. This was reclassified to another fund after the budget adoption.
The Tax Allocation District Fund needs to be amended to account for higher than anticipated collections and a higher than anticipated debt service payment as a result of the higher collections.
The DDA Fund needs to be amended to account for the proceeds from the sale of property and the transfer into the General Fund to cover the General Fund's transfer into CIP for the park project.
RECOMMENDATION / REQUESTED ACTION: Approval to amend the budget for items not included in the FY 2022 budget adoption.