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File #: 16-632    Name: FY16 Mid-Year Budget Update
Type: Agenda Item Status: Agenda Ready
In control: City Council Work Session
On agenda: 6/20/2016 Final action:
Title: Consider and Discuss Amending the Fiscal Year 2015-2016 Budget Mid-Year to Fund Additional Improvements, Projects and Increased Contractual Obligations and Amending the 2016 - 2020 Capital Improvements Program to Fund Street Reconstruction Project (ST1622)
Attachments: 1. Presentation, 2. FY16 Mid Year Requests
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Title

Consider and Discuss Amending the Fiscal Year 2015-2016 Budget Mid-Year to Fund Additional Improvements, Projects and Increased Contractual Obligations and Amending the 2016 - 2020 Capital Improvements Program to Fund Street Reconstruction Project (ST1622)

 

Summary

 

COUNCIL GOAL:                     Financially Sound Government

 

MEETING DATE:                     June 20, 2016

 

DEPARTMENT:                      Budget

 

CONTACT:                       Mark Holloway, Acting Chief Financial Officer

 

 

RECOMMENDED CITY COUNCIL ACTION:                     

                     Consider and discuss FY16 budget amendment recommendations.

 

ITEM SUMMARY: 

                     A mid-year budget amendment is recommended to fund additional improvements, projects and increased contractual obligations with excess reserve funds.

                     The recommended amendments to the FY2015-16 budget are as follows:

 

 

                     This will also amend the FY2015-2016 annual CIP budget and the 2016 - 2020 Capital Improvement Program, by transferring $2,000,000 from General Fund to the Street Construction Fund and appropriating the funds to CIP Project ST1662 Street Reconstruction Project.

 

BACKGROUND INFORMATION: 

                     N/A

 

FINANCIAL SUMMARY: 

                     Total appropriation increases will be offset by overall forecasted revenue increases and decreases in other appropriated expenditures.

 

BOARD OR COMMISSION RECOMMENDATION:                     None