Discussion and possible action to approve the Fiscal Year 2024 First Quarter Budget Amendments and Fiscal Year 2024 First Quarter Chargebacks.

The attached schedules list the FY2024 First Quarter Budget Amendments and FY2024 First 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.

FY2024 First Quarter Budget Amendments Summary:

Operating: The amendments in this category represent reclassing two (2) FTEs and a contract supplemental position to the department where the positions will be reporting to in FY2024.  The Operating adjustments total $314,686.

Operating Carryover: The amendments in this category are for FY2023 approved items or services not received or completed by June 30, 2023. The Carryover – Operating adjustments total $2,814,836.

Capital: The amendments in this category include the expenditure authority for Arizona State Senate Bill 1720 funding received for the Zone 6E Reservoir & Booster Pump Station project and a reclassification of budget authority for the Park and Recreation Facility Refurbishment project to the Sports Complex Operations Fund, where the funding source is available to complete the project.  The Capital adjustments total $10,150,000.

Capital Carryover: The amendments in this category are for FY2023 approved items or services not received or completed by June 30, 2023.    The Carryover – Capital adjustments total $7,251,072.

Grants and Outside Sources: This category includes outside sources awarded to the city for a helicopter, Police SROs and hazardous materials gear, among other things.  The Grants and Outside Sources adjustments total $4,485,810.

FY2024 First Quarter Chargebacks:

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 $838,676.

These budget amendments and carryovers have no net fiscal impact to the city. The budget amendments are to provide expenditure authority for outside sources that have been received, to carry over funds from the previous fiscal year, to move existing appropriation, or correct errors.