20 - Budget Amendments - Laserfiche WebLink

Home Browse Search

Item No. 20 Memorandum TO: Mayor, Mayor Pro -Tem, and City Council Grayson Path, City Manager FROM: Gene Anderson, Finance Director SUBJECT: 2021-22 YEAR END BUDGET AMENDMENTS DATE: October 24, 2022 BACKGROUND: This annual year end "housekeeping" ordinance increases certain departmental budgets to cover expenditures. These increases are offset by decreasing other departmental budgets which have an appropriation surplus or by using revenues that also exceeded budget. The General Fund operating budget exceeded its original budget by $244,300. This amount is more than offset by General Fund revenues which exceeded budget by $3,276,216. While the City Council previously approved a loan to PEDC, this ordinance also amends the budget to cover that loan. The loan amount is in addition to the $244,300 excess mentioned above. The Airport Fund exceeded its original budget by $327,842 due to the cost of fuel but also had $430,804 in revenues that exceeded budget due to fuel sales. The Landfill Fund exceeded its operational budget by $78,421 but also exceeded its revenue budget by $95,944. While it is the City's goal to stay within department budget and then within overall fund budget, unexpected expenses occur from time to time that require us to expend more than planned to provide the services expected and demanded by the community. However, revenue exceeded expectations and was more than enough to cover all overage in all three funds, therefore the City had a net positive added to the reserve while rising to the occasion to provide services needed in FY21/22. STATUS OF ISSUE: An ordinance has been prepared that authorizes the Finance Director to make the necessary budget amendments. BUDGET: N/A RECOMMENDATION: Motion to approve an ordinance amending the Fiscal Year 2021-22 budget.