To: Honorable Mayor and Members of Town Council
From: Trish Muller, Finance Director
Title
Ordinance Approving the Sixth Amendment to the 2016 Budget and Authorizing Changes in Appropriations For Year 2016 (Second Reading) (First Reading on October 4, 2016 with vote of 5-0)
Body
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The Ordinance was approved on first reading on October 4, 2016 with a vote of 5 to 0 with no changes.
Executive Summary
Within this Sixth Budget Amendment for 2016, there is one requested item which is to accommodate increased expenses for contract labor inspection services for the Development Services Enterprise Fund related to the July 1, 2016 hail storm.
(Attachment B) includes the supplemental appropriation items and (Attachment C) details estimated ending funds available for 2016.
Discussion
Within this Sixth Budget Amendment is a request by the Development Services Enterprise Fund to increase the 2016 appropriation to accommodate the increased roof and building inspections generated by the July 1 hail storm. This hail storm caused significant damage throughout Town, which has so far, generated a total of 5,711 inspections, or within 61 business days, about 93 roof inspections per business day since the storm. The Enterprise Fund has received offsetting revenue related to the inspections performed, so the net effect to the fund is zero.
The changes of appropriation in this proposed Sixth Budget Amendment include items requested for consideration for supplemental appropriation. (Attachment B) includes the supplemental appropriation request.
Budget Impact
As presented in (Attachment C), the Finance Department has ensured that funding is available within the fund balance of each fund. A summary of the proposed total change in 2016 expenditure appropriation changes by fund is shown in the following table:
Staff Recommendation
Staff recommends that Town Council approve the Ordinance on first reading. Staff plans to bring the second reading of the Ordinance to the October 18, 2016 Council meeting.
Proposed Motion
“I move to approve An Ordinance Approving the Sixth Amendment to the 2016 Budget and Authorizing Changes in Appropriations For Year 2016.”
Attachments
Attachment A: Ordinance
Attachment B: Requests for Supplemental Appropriation
Attachment C: Estimated Ending Funds Available for 2016