Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Committee approves annual budget amendment to reconcile fiscal-year expenditures
Summary
The committee approved an annual resolution authorizing transfers from reserves to cover line-item overruns identified in the fiscal year close, including TIF payments, an IMRF overage and ambulance equipment costs; the item will appear on next week's full council agenda.
The Community Administration committee voted to approve an annual budget-amendment resolution authorizing transfers from reserves to cover identified line-item overruns and to satisfy auditor requirements.
Sandy, who presented the item, told the committee that the resolution reflects several routine adjustments. She said the city experienced a first TIF payment tied to the hospital development ("the 1st year that we had enough TIF increment…we pay back to HSHS at $50.50") and that staff did not budget for that payment. Sandy also cited an IMRF overage ("there's a 117,000"), a small liability amounting to "$24.25," an ambulance arriving slightly over budget in part because it included an unbudgeted striker stretcher, and a $900 variance in SSA Georgetown. She emphasized these are fund-level adjustments and that restricted police-trust funds remain subject to police-department discretion.
"So this is 1, that we need to do a budget amendment for," Sandy said, describing the transfers as routine administrative action to reflect actual expenditures.
A motion to approve the resolution was moved and seconded; the committee took a roll-call vote and approved the item. The chair said the resolution will be placed on the full city-council agenda at next week's meeting for final consideration.
