PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of a FY 2024 Budget Amendment totaling $62,000 for the Airport Fund to support the remaining balance for security gates and equipment refurbishment.
DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
The FY 2023 Budget included several capital initiatives including building security gates and equipment refurbishment. Due to longer-than-expected timelines, these projects were not completed/delivered by the end of FY 2023. Therefore, a budget amendment totaling $62,000 is needed to pay the final invoices for these projects. The following amendment is recommended for City Council consideration.
FISCAL IMPACT:
With this budget amendment, funds will be available in the FY 2024 Airport Fund budget to cover these invoices. There are sufficient reserves in the Airport Fund to support this amendment as they were originally intended to be outlaid in FY 2023. As illustrated above, the approval of this amendment will result in an overall increase of $62,000 to the FY 2024 Airport Fund budget.
Recommendation
RECOMMENDATION:
Staff recommends approval of this amendment.