Presenter/Contact
Presenter
Jared Werner, Chief Financial Officer
Contact Info
(830) 221-4395 - jwerner@nbtexas.org
Subject Header
SUBJECT:
Title
Approval of a budget amendment in the FY 2017-18 Debt Service Fund.
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BACKGROUND / RATIONALE:
In the City’s continuing effort for financial transparency in addition to our enhanced account reconciliation efforts, the Finance Department is adjusting an entry made in FY 2014-15 to the interest payment account in the Debt Service Fund. The adjustment will be made in FY 2017-18 and will require a budget amendment to comply with current financial policies. Therefore, the following budget amendment is recommended for City Council consideration
Budget Amendment - Debt Service Fund
Increase: Debt Service Expenditures $59,288
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
FISCAL IMPACT:
There are sufficient funds available in the Debt Service Fund to approve the amendment as described above.
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the budget amendment.