ITEM TITLE:
#24-02 - Amending the 2024 Budget by Transferring $61,000 from Budget Variance Reserve to Public Safety Department Personnel Accounts
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $61,000
Unencumbered Balance: $235,000
Funding Source: Budget Variance Reserve
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
This Budget Resolution is necessary to reflect the true costs of full employment for the City of Valdez.
This was an isolated incident where the true costs of full employment were not reflected in a department when the 2024 Budget was presented to the City Council. A process error related to reclassification in FTE Personnel and next steps with City Manager during the City Manager review resulted in additional personnel costs not being including in the 2024 Budget presented to City Council. Staff has taken steps to ensure clarity in the process.
Police Chief Bart Hinkle will be present to address any questions related to operations.
Current projection in 2024 Adopted Budget
Category Amount $ Change % Change
FTE Payroll $1,429,870 $33,384 2.4%
Actual projected costs of full employment
Category Amount $ Change % Change
FTE Payroll $1,490,870 $94,384 6.8%