PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of FY 2024 budget amendments for the General Fund and Child Safety Fund.
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DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
General Fund Amendment -Per the City’s financial policy, if an overall department budget needs to be increased or decreased, a budget amendment is required via City Council approval. Due to higher than anticipated employee expenditures, end-of-year accruals, increased service and equipment costs, and unanticipated operating expenditures, budget amendments are required for several departments of the General Fund Budget. Many of these amendments are consistent with the FY 2024 projections developed during the most recent budget process. Staff recommends utilizing savings in other General Fund departments to support this amendment, therefore, there will be no direct financial impact to the General Fund. The following General Fund budget amendments are recommended for City Council consideration.
Child Safety Fund Amendment - A budget amendment to supplement the operating category is required to fund the annual costs of Crossing Guards. In reconciling the final FY 2024 costs, it was discovered that the amount for crossing guards had been inadvertently budgeted lower than our annual contract amount. The amendment adjusts this category to the amount needed to support that effort. The Child Safety Fund has sufficient funds to support this amendment.
ISSUE:
N/A
FISCAL IMPACT:
The General Fund amendment does not result in a fiscal impact and as it does not increase expenditures within the General Fund, therefore sufficient funds are available in the General Fund to support the amendment. The Child Safety Fund has sufficient funds to support the amendment described above.
Recommendation
RECOMMENDATION:
Staff recommends approval of all budget amendments for FY 2024.