Title
Approval of Budget Amendment 1585-06-27-11 to increase the FY2011 Approved Revenue budget by $1,392,754 and increase the FY2011 Approved Expenditure budget by $1,207,754.
Presented by Keith Lee, Director of Strategic Planning and Budgeting
Body
Item Summary:
This budget amendment includes four components as outlined below.
Item 1: Recognition of $1,392,754 in additional revenue for additional electricity franchise fees, insurance payments received, record additional employee health insurance contributions and additional Recreation Participation Fees.
Item 2: Authorization to allocate $125,000 in available fund balance from E-911 Fund and Worker's Compensation Fund.
Item 3: Recognition of $1,207,754 in additional expenditures for electricity, maintenance and repairs, insurance claims and E-911 and Recreation Participation expenditures.
Item 4: Appropriation of budgeted contingency funds in the amount of $9,000 to the Historic Roswell Convention and Visitors Bureau.
Committee or Staff Recommendation:
On June 14, 2011 the Administration and Finance and Recreation and Parks Committee recommended placing this Item on the June 27, 2011 Mayor and Council Agenda.
Financial Impact:
Upon approval of Budget Amendment 1585-06-27-11 the FY2011 Approved Revenue budget will increase by $1,392,754 to $107,942,383 and the FY2011 Approved Expenditure budget will increase by $1,207,754 to $143,878,447.
Presented by:
Keith Lee, Director of Strategic Planning and Budgeting