Resolution 2024-69: Fiscal Year 2024-2025 Budget Amendment

Original title: Request for approval of Resolution No. 2024-69, Capital Encumbrance and Project Balance Roll forward Budget Amendment for Fiscal Year 2024-2025.

Record date · December 9, 2024

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Public stanceCommunity reactions are separate from the official record and reporting.

What This Bill Does

This resolution proposes a to existing capital project balances and encumbrances into the 2024-2025 fiscal year. It ensures that funds previously committed to specific projects remain available for use.

Why it matters

This action determines the availability of funding for ongoing city capital projects, ensuring that previously approved money is carried over to complete infrastructure or development work in the current fiscal year.

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 Commission

The commission must vote to approve the budget amendment to authorize the movement of funds.

Directly affected

City Departments

Departments managing capital projects will have their project budgets updated to reflect the rolled-forward balances.

Key Facts

Resolution No. 2024-69 authorizes a budget amendment for the 2024-2025 fiscal year.
The resolution facilitates the 'roll forward' of capital encumbrances and project balances from previous periods.
The item is currently in 'Agenda Ready' status for the City Commission.
The resolution was formally introduced on November 21, 2024.

Frequently Asked Questions

What does 'roll forward' mean in this budget context?

It means moving unspent funds that were already set aside for specific projects in a previous budget year into the current fiscal year so the projects can continue.

Does this resolution create new taxes?

No, this resolution is an administrative adjustment to existing project balances and does not mention new tax levies.

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