Title
Approval of the FY 2014 End of Year Budget Amendment.
Body
Item Summary:
This Budget Amendment consists of several budgetary actions that are needed before the close of FY 2014 on June 30th. Listed are the affected funds and a brief summary of the budget recommendations.
1. General Fund: (a) Increase revenues and expenditures related to the SAFEbuilt contract for building permits; (b) Transfer refund from Fulton County Elections contract to Operating Contingency; and (c) Transfer funding for Fire Station lease option to Fire Station #4 construction project
2. Federal Grant Fund: Establish revenue and expenditure budgets related to reimbursement from FEMA for winter storm expenditures
3. Capital Projects Fund: Increase revenue and expenditure budget to account for transfer of Fire station lease funding from General Fund
4. 2014 Bond Fund: Increase revenue and expenditure budget to account for bond proceeds from the FY 2014 bond issue (approved in 2012 Bond Referendum)
5. Leita Thompson Fund: Increase revenue and expenditure budget to account for utility payments from apartment residents
6. Hotel/Motel Fund: Authorize use of FY 2014 CVB contingency funding in the amount of $8,000 for the purchase of software
7. Workers' Compensation Fund: Increase expenditure budget to account for higher than anticipated claims expenditures
Committee or Staff Recommendation:
On June 10, 2014 the Administration, Finance, Recreation and Parks Committee recommended placing this item on the June 24, 2014 Mayor and Council Agenda.
Financial Impact:
Approval of the End of Year Budget Amendment will increase revenues and/or expenditures across the referenced funds as well as authorize the use of contingency funding within the Hotel/Motel Fund.
Presented by:
Ryan Luckett, Deputy Finance Director