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Council committees approve $2.27 million budget adjustments for pensions, land acquisition and bond service costs
Summary
Finance staff told the Business Finance & Budget Committee the third 0.25 budget adjustments total $2,271,719 for housekeeping items including transfers for public-safety pensions, downtown land acquisition and budgeting service costs for previously issued bonds; the committee approved the adjustment for the consent agenda.
Finance staff (identified in the transcript as Aaron) outlined that the 3rd 0.25 budget adjustments reflect prior council decisions and housekeeping: transfers of 2015 surplus to support public-safety pensions, funding for downtown land acquisition and budgeting service costs related to bonds issued after adoption of the original budget. "In total the 3rd 0.25 budget adjustments totaled $2,271,719 and we're seeking your approval," the staff member said.
Committee members had no additional questions and the committee approved the amendment for placement on the consent calendar. The item was described as housekeeping and not a new recurring program; staff said the adjustments align previously unbudgeted bond service costs with the current fiscal record.
