Title
ORDINANCE NO. 24O-11-158: AN ORDINANCE APPROVING FISCAL YEAR (FY) 2025 ROLLOVER SUPPLEMENTAL APPROPRIATIONS TO INCLUDE: A CAPITAL BUDGET ADJUSTMENT IN THE AMOUNT OF $2,048,535.00, A SUPPLEMENTAL APPROPRIATION IN THE AMOUNT OF $27,696,987.00, AND AN INTERDEPARTMENTAL BUDGET ADJUSTMENT IN THE AMOUNT OF $1,237,089.00 REFLECTING APPROPRIATE ADJUSTMENTS TO VARIOUS REVENUE AND EXPENDITURE ACCOUNTS AS SPECIFICALLY INDICATED IN THE BREAKDOWN IN THE TOTAL AMOUNT OF $30,982,611.00 PROVIDING VARIOUS BUDGET CODE NUMBERS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER, DESORAE GILES-SMITH).
Body
Request Action:
Requesting the Approval of FY 2025 Rollover Supplemental Budget Appropriations. Each year the City has to rollover funding from old Fiscal Year (FY) to the new Fiscal year (FY). Currently, the City is in Fiscal Year 2025 (October 1 to September 30) and the City is rolling over funding from FY 2024 for various projects and expenditures because the funds were not fully expended or reflected for increases as projected by the City for FY 2025.
Need Summary Explanation/ Background:
Make various adjusted to revenue and expenditure accounts for the Fiscal Year 2025 budget as denoted in the Rollover attachment.
Cost Summary/ Fiscal Impact:
Include projected cost, approved budget amount and account number, source of funds, and any future funding requirements: Please see rollover attachment for details on the rollover amounts.
Attachments:
Supplemental Budget Appropriation - Roll Over III for FY 2025
Budget Code Number(s): See attached
Procurement Information: [check all that apply]
[ ] RFP/Bid [ ] Emergency Purchase [ ] SBE
[ ] Proposal/Quote [ ] State Grant Funds [ ] Local Preference
[ ] Piggyback Contract [ ] Federal Grant Funds
[ ] Sole Source [ ] Matching Required