Budget Amendment for Rollover Purchase Orders (Fiscal Year 2024)

Original title: Approve a Resolution Amending the Fiscal Year 2024 Adopted Budget, BAF 24-001-A1-A3, for purchase orders rolled over to Fiscal Year 2024. This is due to unspent funds budgeted for capital projects and specific operating accounts. These funds are provided through the use of various Fund Balance Reserves and other Revenue Sources. (Finance Director)

Record date · December 12, 2023

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What This Bill Does

The City Council is considering a resolution to adjust the 2024 budget to account for purchase orders that were not completed in the previous year. This process, known as a , ensures that funds previously allocated for specific and operating accounts remain available for use in the current fiscal year.

Why it matters

This resolution authorizes the city to carry over unspent funds from the previous budget cycle to pay for existing financial commitments, ensuring that ongoing and operational services continue without interruption.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

City Departments

Departments with unspent capital project or operating funds will have their budgets adjusted to allow for the completion of existing purchase orders.

Indirectly affected

Taxpayers

Taxpayers are affected by the reallocation of reserve funds to cover previously authorized city expenditures.

Key Facts

The resolution amends the Fiscal Year 2024 Adopted Budget.
The amendment covers purchase orders rolled over from the previous fiscal year.
The rollover is necessary due to unspent funds in capital projects and specific operating accounts.
Funding for these rolled-over items is sourced from Fund Balance Reserves and other revenue sources.

Show all 6 facts

The resolution is identified by file number 23-741 and budget amendment code BAF 24-001-A1-A3.
The resolution was introduced on November 16, 2023.

Frequently Asked Questions

What does it mean to 'roll over' a purchase order?

It means that a financial commitment made in a previous budget year that was not fully paid out or completed is being moved into the current budget year so the city can fulfill the payment.

Where is the money for these projects coming from?

The funds are being drawn from the city's and other existing revenue sources.

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