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Enact Annual Budget Ordinance to Re-appropriate Funds for Prior Year Encumbrances and Other Obligations.
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Staff:
Department:
Amy Oland, Interim Director
Business Management
Overview: Enacting the attached budget ordinance amendment appropriates funds for prior year encumbrances, previously approved grants, and capital improvement projects in various funds for the 2018-19 fiscal year.
Recommendation:
That the Council enact the budget ordinance amendment to adjust for carryforward and carryover items from FY18 to FY19.
Key Issues:
Each year, as the new fiscal year budget gets underway, we ask the Council to re-appropriate funds for activities that cross over July 1st. These activities were anticipated and planned for in our budget preparation and are for routine activities and longer-term projects.
* Encumbrances
Encumbrances are obligations the Town committed to by issuing purchase orders for which payments were not made as of June 30, 2018, because materials or services had not yet been delivered. In accordance with generally accepted accounting principles, encumbrances were not included as expenditures for 2017-18 and must be re-appropriated for payment during the 2018-19 fiscal year. Across all funds, a total of $3,828,781 was encumbered in prior year and is requested to carry forward.
* Other
In addition to outstanding purchase orders, there are items that were not completed in the prior year and need to be re-appropriated in 2018-19. The total of these items is $5,608,924 across all funds, with the Elliott Road Storage Facility $2,610,495, Wallace Deck design $390,000, Rogers Road community center $400,000, year one of the LUMO update $101,680, the penny for housing initiative $414,253, and the Fire Station #1 roof replacement $154,700. Other carryforward items include workforce development training, Council approved planning initiatives, police federal and state drug seizure funds, street resurfacing, traffic studies, 140 West mana...
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