| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
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| | | | | | | | | BILL NO. 23-080 | Ord.No: 19482 |
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| | | | | | | | Agenda Title:
23-080 2R An ordinance approving a budget amendment for an additional $300,000 to the Fiscal Year 2023-2024 budget for Power & Light. |
| | | | | | | | Recommendations:
Council approval is requested to amend the fiscal year 2023-2024 budget and appropriate $300,000 from the Power & Light fund balance. |
| | | | | | | | Background:
Previous City Council action approved to initiate a process to evaluate all options relevant to the future ownership model of Independence Power & Light. The process has begun by sending out Request for Qualifications (RFQ’s) for two studies to be performed – An IPL Cost-Benefit Analysis Study and an IPL Strategic Plan Study. The requisitions for these two studies were entered and funds were encumbered in the 2022-2023 fiscal year budget. During the close of the fiscal year these requisitions were deleted as they were not fully through the approval process. These will need to be re-entered and processed for the new 2023-2024 fiscal year instead. |
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Fiscal Impact:
The fiscal impact to the City will reduce the fund balance in the Power & Light Fund by $300,000. Funds were originally budgeted for fiscal year 2022-2023, page 226 in account number 6110.5226, Administration - Professional Services.
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| | | | | | | | | Department: IPL | Contact Person: Jim Nail |
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| REVIEWERS: | | Department | Action | | Power and Light Department | Approved |
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| Council Action: | Council Action: |
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| ATTACHMENTS: | | Description | Type |  | Ordinance | Ordinance |
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