Title
Agenda Item:
Amendment to 2012 Special Funds Budget Ordinance
Body
Issue:
Amend the Special Funds Budget.
City Manager's Recommendation:
Move to approve amending ordinance on first reading and forward to 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 were no ordinances passed since the last budget update relating to the operating budget.
Budget Items not previously presented to the Council:
1) Appropriation of $66,500 to the CDBG Loan Repayment Fund. The increase is funded from loan repayments in excess of previously budgeted amounts.
2) Appropriation of $115,000 to the Hands On Children's Museum Fund. The appropriation will be funded from a donation from the Hands On Children's Museum. These are costs over and above the City's commitment. Costs over and above the City's commitment are the responsibility of the Hands On Children's Museum (HOCM). As the project is reaching completion, new estimates show that the expected overage is approximately $215,000. On February 14, 2012, Council appropriated $100,000 with funding to be provided by the HOCM.
Options:
1) Approve amending ordinance. Authorizes bu...
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