| | | | | | | | BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT |
| | | | | | | | Item No. 10.
For Meeting of: March 15, 2016 |
| | | | | | | | | ITEM TITLE: | Ordinance Amending the 2016 Budget for 2015 Year-End Encumbrances (First Reading)
| | SUBMITTED BY: | Cindy Epperson, Director of Finance and Budget |
| SUMMARY EXPLANATION: | Attached is an Ordinance amending the 2016 Budget to provide appropriations for encumbrances outstanding at the close of the 2015 Fiscal year.
Encumbrances represent orders (included in 2015 Budget appropriations) for materials which had been authorized but not yet received, or for services authorized but not yet completed, as of December 31, 2015. Therefore, appropriations from Unencumbered Fund Balances are required to move forward the budget for payment when the materials are received or services completed.
The total encumbrance for all funds is $2,782,804 as follows:
General Fund (reimbursable) $51,775
Neighborhood Development (HUD Grants) $1,917 693
Parks Capital - Carry Forward $255,049
All other funds $558,287
Note: Neighborhood Development typically has a large encumbrance because this annual budget is set based on “new” federal Community Development Block Grant (CDBG) and HOME grant awards. Amounts obligated, but not yet spent at the end of each year, are carried forward into the next year through the encumbrance ordinance.
In some instances, the appropriations will be funded by approved grants (i.e. Neighborhood Development Block and Trolley Grants, etc.). Additional revenues in this ordinance total $1,987,277. In all other instances, the appropriations will be funded by reserves in their respective funds. Since General Fund was overspent in total, the only item included is for projects in Utility Billing, which will be reimbursed entirely by the utilities, so that General Fund is balanced with no net use of reserves.
This is an annual year-end accounting requirement. |
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| | | | | | | | | ITEM BUDGETED: | NA | | STRATEGIC PRIORITY: | Public Trust and Accountability |
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APPROVED FOR SUBMITTAL:
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Interim City Manager |
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| | | | | | | | | STAFF RECOMMENDATION: | | Read Ordinance by title only at the March 15, 2016 meeting. Pass Ordinance after the second reading at the April 5, 2016 meeting. |
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| | | | | | | | | BOARD/COMMITTEE RECOMMENDATION: | |
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