AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE
title[AH1]
Approve the Miscellaneous Budget Ordinance Amendment to Adjust Various Fund Budgets for FY 2024-25.
presenter[AH2]
RESPONSIBLE STAFF, TITLE, DEPARTMENT
Amy Oland, Director, Business Management Department
Matt Brinkley, Assistant Director, Business Management Department
STAFF RECOMMENDATION
That the Council:
* Enact the attached budget ordinance amendment to adjust the General Fund, Capital Improvement Fund, Library Gift Fund, Transit Fund, and Parking Fund.
* Enact the attached project ordinance amendments to adjust the 2015 Street and Sidewalks Fund, Affordable Housing Fund, 2021 Limited Obligation Bonds (LOBS) Fund, and Capital Projects Ordinance Fund.
body[AH3]
ACTION/DECISION POINTS
By enacting the budget ordinance amendment, the Council adjusts the budgets for the General Fund, Capital Improvement Fund, Library Gift Fund, Transit Fund, and Parking Fund. By enacting the project ordinance amendments, the Council adjusts the budgets for the 2015 Streets and Sidewalks Bond Fund, Affordable Housing Fund, 2021 Limited Obligation Bonds (LOBS) Fund, and Capital Projects Ordinance Fund.
LEGISLATIVE CONTEXT
After the Council approves the annual budget, periodic changes require the Town Council to amend the current budget, as described in state statute 159-15.
BACKGROUND AND CONTEXT
General Fund:
Sales Tax Article 46 Funds - Enactment of the budget ordinance amendment would appropriate the $37,788 in Article 46 funds from Orange County for small business support and marketing efforts.
Occupancy Tax - Enactment of the budget ordinance amendment would reflect the additional payment of $381,855 made to the Visitors Bureau from appropriated fund balance.
Durham Technical Community College (DTCC) - Enactment of the budget ordinance amendment would recognize the contribution of $15,000 from DTCC and allocate those funds towards training needs.
Capital Improvement Fund:
U.S. Conference of Mayors Grant - Enactment of the...
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