Title
Approval of Budget Amendment #1585-11-15-11 to increase the FY 2012 Revenue budget by $10,872.76 and increase the FY 2012 Expenditure budget by $1,363,181.76.
Presented by Keith Lee, Director of Strategic Planning & Budgeting
Body
Item Summary:
This budget amendment includes five components of appropriations as outlined:
1. Request to carryover available, unspent General Fund operating funds from the FY 2011 budget in the amount of $409,443.
2. Request approval of a One-Time Employee Compensation for FY 2012 totalling $779,010.
3. Request recognizing $10,872.76 in additional revenue and $108,472.76 in additional expenditures associated with the special revenue funds.
4. Request approval of an adjustment to the City wide restructuring plan to increase the FY 2012 Approved Budget by $66,256.
5. Request to re-allocate $659,475 of the $700,000 approved budget for the City's Stormwater Utility Fee to City Departments ($0 net impact).
Committee or Staff Recommendation:
On November 15, 2011 the Administration and Finance and Recreation & Parks Commitee recommended placing this Item on the November 28, 2011 Mayor and Council Agenda for approval.
Financial Impact:
Upon approval of Budget Amendment 1585-11-28-11 the FY 2012 Approved Revenue budget will increase by $10,872.76 to $105,958,300.74 and the FY 2012 Approved Expenditure budget will increase by $1,363,181.76 to $142,829,491.83.
Presented by:
Keith Lee, Director of Strategic Planning & Budgeting