Title
Approval of an Ordinance Amending Ordinance 7258 (Operating, Special and Capital Budgets) - Fourth Quarter 2020
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the proposed Ordinance that amends Ordinance 7258 on second reading.
Report
Issue:
Whether to approve the proposed Ordinance amending Ordinance 7258 on f second reading.
Staff Contact:
Nanci Lien, Finance Director, Administrative Services Department, 360.753.8465
Presenter(s):
None - Consent Calendar item
Background and Analysis:
Background and analysis has not changed from first to second reading.
City Council may revise the City's Operating, Special Funds and Capital Budgets by approving an ordinance. Generally, budget amendments are presented quarterly to Council for review and approval but may be made at any time during the year. The amended ordinances appropriate funds and provide authorization to expend the funds.
No separate ordinances have been passed since the adoption of ordinance 7258.
The attached ordinance includes recommended amendments to the 2020 Operating Funds, Specials Funds, and Capital Funds for department requests for budget amendments for the 4th Quarter in 2020. Department requests are summarized below:
Administrative Services
* $73,129 in appropriations for information technology hardware and software related to COVID-19 response. Funding from economic recovery funds.
* $2,374,650 in appropriations for response to COVID-19. Funding from CARES federal public assistance program.
* $3,527,792 in appropriations for debt service related to refundings completed late 2019 for the 2010 LTGO Street Project bonds. 2020 debt service budget had already been finalized at that time. Funding from debt proceeds.
* $3,372,211 in appropriations for debt service related to refundings completed late 2019 for the Hands On Children Museum bonds. 2020 debt service budget had already been finalized at that t...
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