Summary:
The attached schedules list FY2023 Third Quarter Budget Amendments and FY2023 Second and Third Quarter Chargebacks, which under current Council and/or Administrative policy require Council approval. These amendments have been reviewed by the Finance and Budget Department and are submitted to Council for approval. The following listing describes the budget amendments by category.
FY2023 Second Quarter Budget Amendments Summary:
Carryover - Capital: The amendment in this category returns budget authority to contingency for the New River Utility Co. Acquisition and Improvements project. Loan proceeds were exhausted in FY2022, which in turn no longer required the carryover to FY2023. The Carryover - Capital adjustment totals $71,766.
Grants and Outside Sources: The amendments in this category represent Police Department grant awards. The department received additional funding from the Governor’s Office of Highway Safety and the United States Postal Services. The Grants and Outside Sources adjustments total $18,451.
Chargebacks and Arts: The items in this category represent an administrative mechanism for charging capital projects for project management and procurement services provided by city staff, as well as the one percent (1%) charge for public art. Each quarter, budget authority is moved to individual capital projects to be charged. The Chargebacks and Arts adjustments total $1,802,377.