Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2017-2018 Annual Budget to Provide Funding for the Settlement Agreement with Arch Resorts
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: December 5, 2017
DEPARTMENT: City Manager’s Office
CONTACT: Mark Houser, City Attorney
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance
ITEM SUMMARY:
• This Ordinance amends the FY 2017-2018 Annual Budget by appropriating $1,907,966 from the General Fund fund balance for the Settlement Agreement with Arch Resorts.
BACKGROUND INFORMATION:
• This amendment has been initiated to provide appropriations for the settlement needed by the City with Arch Resorts in October 2017.
FINANCIAL SUMMARY:
• This Ordinance amends the FY 2017-2018 Annual Budget by appropriating $1,907,966 from the General Fund fund balance for the Settlement Agreement with Arch Resorts.
BOARD OR COMMISSION RECOMMENDATION:
• N/A