ITEM TITLE:
#16-45 - Adopting the 2017 City of Valdez Budget and Appropriating Monies for that Budget
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: NA
Unencumbered Balance: NA
Funding Source: NA
RECOMMENDATION:
Adopt Resolution No. 16-45.
SUMMARY STATEMENT:
The attached resolution reflects the aggregate of all proposed appropriations for 2017. Appropriations from unassigned fund balance totaling $19.9m are proposed for the CIP and Major Maintenance reserve funds, which reflects a two-year project schedule. Attachment A summarizes the entire budget by fund.
The City Manager’s Budget Memo is also included, and will be incorporated into the final published document, along with the goals, work plans, and other historic data for each department.
Staff will distribute separate materials providing additional clarification about the proposed personnel COLA and the CIP/Major Maintenance schedule. These items are already included in the budgeted figures, however, staff wishes to ensure that the underlying details are fully detailed to Council prior to its vote.
Council will have the ability to forward amendments to the budget as presented. Any such revisions will be tracked by Finance Staff, and will be recapitulated prior to a final adoption vote.