PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of a FY 2025 budget amendment for the General Fund and the 2013 Bond Fund to reallocate the purchase of heavy equipment.
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DEPARTMENT: Public Works - Facilities Maintenance and Streets
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COUNCIL DISTRICTS IMPACTED: All
BACKGROUND INFORMATION:
With the adoption of the FY 2025 Budget, City Council approved funding for the creation of a citywide right-of-way and beatification team. Funding was also included in the General Fund for equipment and vehicles to support this team. After review of the final FY 2024 General Fund revenues and expenditures, there is a need to reallocate funding for certain initiatives in the General Fund to other funding sources to ensure that the fund balance target is met at the end of FY 2025.
Therefore, staff recommends reallocating $125,000 originally budgeted for landscape beautification initiatives in the General Fund (Public Works) to the 2013 Bond Fund right-of-way maintenance crew equipment project. Additionally, staff recommends shifting $480,000 originally budgeted for heavy machinery and equipment purchases in the General Fund (Public Works budget) to the Public Works Capital Equipment Project in the 2013 Bond Fund.
Budget Amendment - The following amendment is necessary to fund capital expenditures for the above-referenced right-of-way maintenance crew equipment and new Public Works equipment and machinery.
STRATEGIC PLAN REFERENCE:
☐Economic Mobility ☐Enhanced Connectivity ☐Community Identity
☒Organizational Excellence ☐Community Well-Being ☐N/A
FISCAL IMPACT:
Sufficient funding is available in the 2013 Bond Fund to cover the above referenced equipment purchases. This amendment will increase the budget in the 2013 Bond Fund and decrease the budget in the General Fund, therefore there is a net-zero impact to the FY 2025 Citywide budget.
Recommendation
RECOMMENDATION:
Staff recommends approval of this budget amendment.