ITEM TITLE:
#25-21 - Amending the 2025 Budget by Appropriating $4.2 Million of Excess Funds Carried Forward from 2024 to the Projects Planning Reserve in the Amount of $3.5 Million and to the Nuisance Abatement Program in the Amount of $750,000, and by Re-Allocating $584,245.57 from Previously Approved Capital and Major Maintenance Projects
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $4.2MM
Unencumbered Balance: $4.2MM
Funding Source: 2024 revenues received above budget and expenses under budget
RECOMMENDATION:
Approve Resolution 25-21.
SUMMARY STATEMENT:
Excess funds carried forward from the prior fiscal year include the sum of Expense Appropriations under-budget and Revenue Appropriations received over-budget. A full analysis of carryforward is attached.
This resolution reflects the established convention related to the Capital Projects Planning Reserve. Excess funds carried-forward from the prior fiscal year are placed in reserve annually until the Operating and Capital Budget process which is typically adopted by the first week of December.
Operational and Administrative Reserves are routinely scrutinized, and needs are assessed prior to the annual Projects Repurposing and Carryforward Resolution.
Projects team respectfully requests funding for one project outside of the full prioritization process in order to keep momentum on the City’s CIP and Major Maintenance list:
• Nuisance Abatement Program
o Scrap Barge Project $750,000
Parks and Recreation respectfully requests accelerated replacement of a skate park ramp damaged by a winter wind storm. An appropriation to Major Equipment has been deemed necessary for full transparency.
• Major Equipment Reserve
o Skate Park ramp $45,000