ITEM TITLE:
#24-63 -Amending the 2024 City Budget by Transferring $24,413 from Budget Variance Reserve
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $24,413
Unencumbered Balance: $224,536
Funding Source: 350-0350-55000, Budget Variance Reserve
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
This resolution includes appropriations from Budget Variance Reserve to balance and reconcile the 2024 budget to year-end.
This resolution includes:
• Transfer from Budget Variance reserve totaling $24,413
o Engineering $15,000
§ ACM Contract in department for expediency. In the future, costs related to ACM duties to come from Administration Department for cost transparency related to City Administration. Small departments have outsized impacts with changes, Law Enforcement Department was able to absorb costs in 2024.
o Special Events Reserve $6,251
§ Fundraising for City Holiday Party was eliminated administratively in 2024, subsequent budgeting will reflect new convention
o Land Purchase $3,162
§ Land Purchases reflect a Capital Expenditure due to lifespan
The next review and resolution related to the 2024 Budget will be in February or March to allocate “carryforward” funds.