| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
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| | | | | | | | | BILL NO. 22-503 | Ord.No: 19308 |
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| | | | | | | | Agenda Title:
22-503 - 1R. An ordinance adopting quarterly amendments to the Fiscal Year 2021- 2022 budget, which was approved by Ordinance No. 19228.-Appropriation ordinances may receive two readings and be voted on at the same meeting.
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| | | | | | | | Recommendations:
Staff recommends approval of this item. |
| | | | | | | | Executive Summary:
This ordinance will increase appropriations in the amount of $4,714,862.39 in the 2021-22 Operating Budgets of various departments and funds for budget changes that occurred during the current fiscal year that have been requested by operating departments.
The Amendment was reviewed with the Audit and Finance Committee on 02/25/2022 |
| | | | | | | | Background:
Background information for each individual appropriation adjustment is included in an attached document along with an appropriation adjustment amount, the source of funds for the appropriation adjustment and the location of where the appropriation adjustment will be recorded. |
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Fiscal Impact:
This ordinance is to increase appropriations in the amount of $2,360,276.20 due to increased revenues, which will result in $0 net impact to the various funds affected. This ordinance is also to increase appropriations in the amount of $440,800.00 from General Fund Unassigned Fund Balance, $1,000,000.00 from Water Unassigned Fund Balance, $124,575.00 from Parks & Recreation Property Tax Levy Unassigned Fund Balance, $386,000.00 from Storm Water Sales Tax Unassigned Fund Balance, and $403,211.19 from Power & Light Unassigned Fund Balance due to increased expenditures.
Revenues have also been adjusted. Due to the November Special Election, Use Tax revenues were revised and reallocated across sales and use tax funds resulting in an overall increase of $583,000.00. Interest revenues were revised based upon trending interest income received the first half of FY22 resulting in an overall increase of $281,720.00. ARP Funds of $50,000.00 originally budgeted for General Fund services were reallocated.
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| | | | | | | | | Department: Finance & Administration | Contact Person: Bryan Kidney |
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| REVIEWERS: | | Department | Action | | Finance Department | Approved | | Finance Department | Approved | | City Managers Office | Approved | | City Clerk Department | Approved |
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| Council Action: | Council Action: |
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