Title
Approval of an Ordinance Amending Ordinance 7406 (Fourth Quarter Budget Amendment)
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve on second reading, the proposed Ordinance amending Ordinance 7406 (Fourth Quarter Budget Amendment).
Report
Issue:
Whether to approve on second reading, the proposed Ordinance amending Ordinance 7406 (Fourth Quarter Budget Amendment).
Staff Contact:
Joan Lutz, Budget & Fiscal Manager, Finance Department, 360.753.8760
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
Background and analysis did not change from first to second reading.
City Council may revise the City’s Budget by approving an ordinance. Generally, budget amendments are presented quarterly to Council for review and approval, however, they may be made at any time during the year. The amended ordinances appropriate funds and provide authorization to expend the funds.
The attached ordinance includes recommended amendments to the 2024 Operating Funds, Special Funds and Capital Funds for: 1) Department requested carry-forward appropriations from 2023; and 2) Department requests for budget amendments for the 4th quarter in 2024.
1. Department requested carry-forward appropriations include requests representing 2023 obligations for purchase orders and contracts not completed in 2023 as well as capital project related appropriations. The carry-forward appropriation requests total $ 18,926.
2. Department requests for budget amendments for 4th quarter of 2024 represents new budget adjustments and associated transfers requested by departments. The appropriation requests total $19,124,157.
3. Department requests for budget amendments for the 4th quarter of 2024 are specified in Exhibit B of the attached Ordinance.
Climate Analysis:
The Climate Analysis framework will be completed by staff, if applicable, for the individual work items funded by Council.
Equity Analysis:
The Equity Analysis framework will be completed, if applicable, for the individual work items funded by Council.
Neighborhood/Community Interests (if known):
Members of the community may have an interest in this agenda item as it deals with City finances and fiscal governance.
Financial Impact:
Increase in appropriations of $ 19,143,083. Funding sources are noted in Exhibit B of the attached Ordinance.
Options:
1. Approve the proposed ordinance amending Ordinance 7406. This provides staff with budget capacity to proceed with initiatives approved by Council.
2. Approve the proposed ordinance, based on Council feedback, amending Ordinance 7406.
3. Do not approve the proposed ordinance amending Ordinance 7406. Staff will not have authorization to expend the funds.
Attachments:
Ordinance