TITLE
HOLD a public hearing and consider an ordinance amending the FY 2016 Annual Budget and Plan of Municipal Services of the City of Killeen.
SUMMARY
AGENDA ITEM
Budget Amendment for FY 16
ORIGINATING DEPARTMENT
Finance
BACKGROUND INFORMATION
The City Charter provides that budget amendments occur by ordinance. The following is a list of items that require a budget amendment for FY 2016.
• General Fund realignment of budget by department to cover shortfalls. Reallocation does not result in an increase in General Fund appropriations.
• Recognition of revenues and expense budgets for Park Donation Fund and Teen Court Program Fund.
• Killeen-Fort Hood Regional Airport realignment of Information Technology related expenses. Reallocation does not result in an increase in appropriations.
• Skylark Field Fund realignment of budget by department to cover shortfall. Reallocation does not result in an increase in appropriations.
• Recognize revenues and expenses related to the bond refunding.
• Creation of the Rosewood Extension Grant Capital Improvement (CIP) Fund and realignment of other CIP Funds.
DISCUSSION/CONCLUSION
A budget amendment needs to be approved by City Council which will allow the City to expend funds.
FISCAL IMPACT
See ordinance, attached.
RECOMMENDATION
That the City Council approve this ordinance amending the FY 2016 Annual Budget and Plan of Municipal Services.