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File #: 22-0987    Version: 1 Name: 6/21/22 Resolution to Amend Ann Arbor City Budget for Fiscal Year 2022
Type: Resolution Status: Passed
File created: 6/21/2022 In control: City Council
On agenda: 6/21/2022 Final action: 6/21/2022
Enactment date: 6/21/2022 Enactment #: R-22-209
Title: Resolution to Amend Ann Arbor City Budget for Fiscal Year 2022 (8 Votes Required)
Attachments: 1. City Budget Amendment for FY2022 attachment.pdf

Title

Resolution to Amend Ann Arbor City Budget for Fiscal Year 2022 (8 Votes Required)

Memorandum

Attached for your review and approval, please find a resolution to amend the Ann Arbor City Budget for Fiscal Year 2022.

 

The Michigan Public Act 2 of 1968, as amended, provides that the City shall not incur expenditures in excess of the amounts appropriated. In order to comply with PA 2, the City monitors expenditures against the adopted budget on a monthly basis and appropriates 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.

 

In monitoring the various funds, management has forecasted certain variances versus budget that require budget amendments to remain in compliance with PA 2 as indicated above. These variances and the reasons for the variances are listed on the attachment.

 

The total requested General Fund budget amendment is $1,758,747. A portion of this amount is covered by $1,291,747 from assigned fund balance for severances. The budget amendment for all other funds totals $524,700. A detail of the requested appropriations is attached.

 

Passage of this Resolution and approval of the fiscal year 2022 budget amendments as prepared is recommended.

Staff

Prepared by:             Kim Buselmeier, Budget & Finance Supervisor

Reviewed by:            Marti Praschan, Financial Services Area Administrator & CFO

Approved by:            Milton Dohoney, Jr, City Administrator

 

Body

Whereas, On May 17, 2021, City Council adopted the annual operating budget for FY 2022 for the City of Ann Arbor;

 

Whereas, The Michigan Public Act 2 of 1968, as amended, provides that the City shall not incur expenditures in excess of the amounts appropriated;

 

Whereas, The City’s management have monitored revenues and expenditures and have forecasted revenues and expenditures against the adopted budget;

 

Whereas, The forecasted expenditures are in excess of the City’s adopted budget for some units in the General Fund, and certain other funds in total as listed below;

 

RESOLVED, That Council amend the General Fund expenditure budget by $1,758,747 as follows, with the source of funding for severances of $1,291,747 from assigned fund balance and the remaining $467,000 from a use of fund balance:

 

 

 

RESOLVED, That Council amend the following other funds’ revenue and expenditure budgets for FY 2022, with the source of funding as indicated:

 

 

 

 

 

 

 

 

 

 

 

 

ATTACHMENT

 

City of Ann Arbor

Proposed Fiscal Year 2022 Budgeted Amendments