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Owosso council approves fourth-quarter budget amendments, adjusts housing-rehab grant revenue
Summary
The Owosso City Council approved fourth-quarter amendments that include an addition to the housing redevelopment fund (254) to reflect the accurate grant amount for the homeowner-occupied rehabilitation administration program; the amendment is balanced with matched revenue and expenditure lines, city manager said.
Owosso — City manager presented fourth-quarter budget amendments and asked council for approval. He noted a specific adjustment in the housing redevelopment fund (254) to reflect newly recognized grant revenue for the homeowner-occupied rehabilitation administration program; the change balanced revenues and expenditures for that program.
The city manager said the city often receives several grants during the year and that fast arrivals of grant awards required a last-minute correction to the budget to show accurate amounts. Council called for a roll-call vote and approved the amendments.
No councilmember proposed changes during the meeting. The clerk recorded affirmative roll-call responses and the amendments were adopted. The city manager will implement the accounting changes so the housing rehabilitation program’s revenue and expense lines accurately reflect the grant award.
The council also approved other routine fourth-quarter adjustments as presented; the meeting did not record detailed line-item amounts beyond the housing redevelopment fund note.
