Summary:
The attached schedules list the FY2024 3rd Quarter Budget Amendments and FY2024 3rd 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 3rd Quarter Budget Amendments Summary:
Capital Carryover: The amendments in this category returns authority to contingency for excess carryover identified upon the FY2023 year-end close. The Carryover – Capital adjustments totals ($3,300,704).
Grants & Outside Sources: The amendment in this category establishes authority for the State of Arizona, Office of Tourism grant awarded to Parks and Recreation. The Grants & Outside Sources adjustment totals $30,248.
Grants & Outside Sources Carryover: The amendment in this category establishes authority for unspent grant funding awarded to Neighborhood and Human Services from the State of Arizona for homeless services. The Carryover – Grants & Outside Sources adjustment totals $619,500.
FY2024 3rd 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 $920,957.