Title
Resolution to Amend Ann Arbor City Budget for Fiscal Year 2009
(8 Votes Required)
Memorandum
Attached for your review and approval, please find a resolution to amend the Ann Arbor City Budget for Fiscal Year 2009.
The Michigan Public Act 621 of 1978, as amended, provides that the City shall not incur expenditures in excess of the amounts appropriated. In order to comply with PA 621, the City’s auditors, Abraham & Gaffney, P.C., have suggested the City monitor expenditures against the adopted budget on a periodic basis and appropriate budget amendments be adopted by Council as needed.
Management of the City has monitored the revenue and expenditure activity against the adopted budget for the various funds throughout the year. In addition, management has attempted to periodically forecast the remainder of the fiscal year’s revenue and expenditures as well as consider new items approved by Council that may require budget amendments.
In monitoring the various funds, management has forecasted certain variances versus budget that require budget amendments to remain in compliance with PA 621 as indicated above. These variances and the reasons for the variances are listed on the attachment.
The total budget amendment for all funds is $7,429,244. A detail of the requested appropriations is attached.
Passage of this Resolution and approval of the fiscal year 2009 budget amendments as prepared is recommended.
Staff
Prepared by: Kenneth J. Bogan, Senior Finance Specialist, Mary Joan Fales, Senior Assistant City Attorney
Reviewed by: Tom Crawford, Chief Financial Officer
Body
Whereas, On May 19, 2008, City Council adopted the annual operating budget for FY 2009 for the City of Ann Arbor;
Whereas, The Michigan Public Act 621 of 1978, as amended, provides that the City shall not incur expenditures in excess of the amounts appropriated;
Whereas, The City’s auditors, Abraham & Gaffney, P.C., have suggested the City monitor expenditures against the adopt...
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