Summary
To: Mayor Gary H. Katica and Commissioners
From: Micah Badana
Date: 12/7/2016
______________________________________________________________________
Subject:
Title
Resolution No. 2016-26: FY2015-16 Final Budget Amendment
Summary:
Staff identified a few budget amendments for commission discussion and approval. Staff is requesting budgetary amendments totaling $309,400 for the General Fund and $8,700 for the Tree Fund. The majority of the amendment is to offset vehicle purchases with the vehicle lease proceeds that were reimbursed to the Town by the loan provider. The other funds being utilized are the donations received by the Police Department throughout the year to purchase vehicles and equipment. End
Body
Previous Commission Action: The commission previously approved a mid-year budget amendment in July, Resolution 2016-19.
Background/Problem Discussion: The final budget amendment of the fiscal year serves largely as a “clean up” amendment. The majority of the amendment is to offset vehicle purchases with the vehicle lease proceeds that were reimbursed to the Town by the loan provider. Staff is also requesting the reallocation of surplus amounts for use in the Public Works Department. The Tree Fund budget amendment will utilize Tree Fund reserves to offset tree replacement expended out of the fund. Please see the attached resolution for a line item schedule of proposed budget amendments.
Commission may approve, deny, or direct staff to expend in another manner for any or all expenditure lines.
Expenditure Challenges None.
Financial Implications: The total budgetary change from General Fund is $309,400 and $8,700 for Tree Fund.
Recommendation: Staff recommends approval of Resolution No. 2016-26.
Proposed Motion I move approval of Resolution No. 2016-26 amending Fiscal Year 2015-2016 Budget.