Title
Consider/Discuss/Act on Ordinance Amending the Fiscal Year 2010-2011 Budget to Re-appropriate Projects/Items Carried from Last Fiscal Year
Summary
MEETING DATE: November 2, 2010
DEPARTMENT: Finance
CONTACT: Jennifer Fung, Executive Director of Finance
Jason Weeks, Assistant Finance Director
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Re-appropriation ordinance.
ITEM SUMMARY:
• Items covered by this ordinance are projects or purchases that were originally budgeted in FY2009-10, but were not spent during the last fiscal year.
• Most of the items are projects that are in progress and invoices were not received during FY2009-10.
• Departments requested the items be re-appropriated in FY2010-11. These items total $1,869,226 in General Fund, $33,187 in Water & Wastewater Fund, $28,846 in Surface Water Drainage Fund, $396,047 in Community Housing Fund, $6,580 in Community Development Block Grant (CDBG) Fund and $2,600 in McKinney Airport Development Corporation (MADC).
BACKGROUND INFORMATION:
• The City Charter states that “at the close of each fiscal year, the unencumbered balance of each appropriation shall revert to the fund … and shall be subject to future appropriation, but appropriations may be made in furtherance of improvements or other objects of work of the City which will not be completed within the current year”.
• Funds that were budgeted and not used by the departments during the fiscal year are not available for their use unless appropriated in the ensuing fiscal year’s budget.
FINANCIAL SUMMARY:
• The fund balances will not be affected as the items were budgeted in the previous fiscal year. The total appropriations for FY2010-11 for the City will increase.
BOARD OR COMMISSION RECOMMENDATION: None