Title
Resolution to Amend Ann Arbor City Budget for Fiscal Year 2018 (8 Votes Required)
Memorandum
Attached for your review and approval, please find a resolution to amend the Ann Arbor City Budget for Fiscal Year 2018.
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 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 621 as indicated above. These variances and the reasons for the variances are listed on the attachment.
The total requested General Fund budget amendment is $1,180,000. The budget amendment for all other funds totals $220,000. A detail of the requested appropriations is attached.
Passage of this Resolution and approval of the fiscal year 2018 budget amendments as prepared is recommended.
Staff
Prepared by: Karen Lancaster, Finance Director
Reviewed by: Tom Crawford, CFO
Approved by: Howard Lazarus, City Administrator
Body
Whereas, On May 15, 2017, City Council adopted the annual operating budget for FY 2018 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 management have monitored revenues and expenditures and have forecasted revenues and expenditures against the adopted budget; and
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 $1,180,000.00 as follows, with the source of funding for the City Clerk from election reimbursement ($50,000.00), severances of $650,000.00 from assigned fund balance, and the remaining $480,000.00 from use of fund balance:
|
GENERAL FUND EXPENDITURES |
See attachment.
RESOLVED, That Council amend the following other funds’ revenue and expenditure budgets for FY 2018, with the source of funding as indicated:
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REVENUES |
|
Fund |
Fund Name |
Amount |
|
0023 |
COURT FACILITIES FUND - Transfer from the General Fund |
20,000.00 |
|
|
|
|
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EXPENDITURES |
|
Fund |
Fund Name |
Amount |
|
0026 |
CONSTRUCTION CODE FUND - Funded From Building Permit revenue in excess of budget |
200,000.00 |
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|
|
|
|
|
|
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ATTACHMENT
City of Ann Arbor
Proposed Fiscal Year 2018 Budgeted Amendments
General Fund Expenditures
|
Service Area/Unit |
Reasons |
Impact |
See attachment.
Non-General Funds
See attachment.