Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2016-2017 Budget to Re-appropriate Projects/Items Carried from Last Fiscal Year
Summary
COUNCIL GOAL: Financially Sound Government
MEETING DATE: January 17, 2017
DEPARTMENT: Financial Services
CONTACT: Mark Holloway, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Ordinance.
ITEM SUMMARY:
• Re-appropriations in this Ordinance are projects or purchases that were originally budgeted in FY2015-16, but were not spent during the last fiscal year.
• Most of the items are projects that are in progress and are for goods not delivered or services not rendered during FY2015-16.
• Re-appropriations are as follows:
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 re-appropriated items were budgeted in the previous fiscal year; FY2015-16 fund balance will be increased and FY2016-17 fund balance will be decreased by the same amount. The total FY2016-17 appropriations for the City will increase.