Title
Agenda Item:
Amendment to Ordinance 6848 (Operating Budget)
Body
Issue:
Amendment to Ordinance 6848
City Manager's Recommendation:
Move to approve amending ordinance on second reading
Staff Contact:
Dean Walz, Fiscal Services Director, Administrative Services Department, 360.753.8465
Background and Analysis:
To change the budget the Council must approve a new ordinance amending the budget. Due to the administrative difficulty of possibly having several items going to the Council at or near the same time, budgetary amendments are generally made quarterly. On occasion a budget change needs to be made between the quarterly updates. In those cases an ordinance may come to the council as an ordinance "relating to the budget", but not actually amending a previous ordinance. The ordinances "relating to the budget" will be included in the next quarterly update. The attached ordinance reflects ordinances which may have been adopted relating to the budget since the last quarterly update, and other proposed changes to the operating budget.
There are no ordinances passed since the last budget update relating to the operating budget.
Budget Items not previously presented to the Council:
1) Appropriation of $1,600 to the Recreation Scholarship account. This is funded by donations.
2) Appropriation of $332,085 to the LTGO Bond Fund, 2013. This appropriated the 2013 debt service for the bonds issued in 2013 for improvements to the Washington Center, LED streetlight conversion and refunding of the Parks Bond Anticipation Note. Funding is provided from resources in the Equipment & Facilities Reserve Fund (Washington Center improvement), General Fund (LED streetlight conversion) and Parks & Recreational Sidewalk Utility Tax Fund (Parks Bond Anticipation Note refunding).
3) Appropriation of $37,500 to the General Fund, Ambassador Program. Funding is provided by the PBIA.
4) Appropriation of $25,000 to the General Fund for the Community Renewal Area project. Funding is provided by a grant from the State of Washington, Community Economic Revitalization Board.
5) Appropriation of $115,537 to the Equipment & Facilities Reserve Fund to be transferred to the LTGO Bond Fund, 2013 to pay the Washington Center improvements portion of 2013 debt service.
6) Appropriation of $25,000 for contracted services related to Business & Occupation tax auditing and appeals. Funding is provided from revenue received from tax auditing efforts in excess of budget. The City has received $117,815 so far this year from audit revenues. The 2013 budget for audit related revenue is $50,000.
Options:
1) Approve amending ordinance. Officially amends the budget for ordinances relating to the 2013 budget, and authorizes budget items which have not previously been presented to the Council.
2) Do not approve the amending ordinance. The budget items would not be authorized.
Financial Impact:
Total increase appropriations by $536,722. The sources of funding for these appropriations are noted above.