CITY COMMISSION AGENDA ITEM

Department:

Finance

Commission Meeting Date:  July 17, 2018

Staff Contact:

Bryan Kidney, Finance Director

Recommendations/Options/Action Requested:

Authorize publication of the 2018 amended budget summary and establish August 7, 2018 as the public hearing date, if appropriate.

Executive Summary:

Under K.S.A 79-2929a, municipalities are authorized to amend one or more budgeted funds; the purpose of which is to increase the fund’s expenditure authority. For this to occur a public hearing must be held and notice of the public hearing must be given at least 10 days prior to the hearing.

The attached notice sets the public hearing date of August 7, 2018 and establishes the proposed amended expenditures. The proposed amended expenditures are listed in the chart below.

	2018			2018 Proposed Amended Expenditures
	Adopted Budget
	Actual Tax Rate	Amount of Tax  that was Levied	Expenditures
Fund
General	19.482	19,191,795	93,603,000	93,603,000
Library	4.040	3,979,820	4,233,000	4,268,000
Capital Improvement Reserve			6,481,000	9,689,000
9NH South			516,000	609,000
9NH North			40,000	268,000
720 LLC NRA			14,000	15,000
City Parks Memorial			66,000	113,000
Housing Trust			600,000	803,000

The aforementioned funds have additional unforeseen expenditures that were not included in the 2018 adopted budget. These expenditures are being funded through additional fund balance that exceeds the fund balance included in the adopted 2018 budget or from a transfer from the General Fund that was not included as revenue in the original 2018 budget.

As shown on the chart above, the 2018 Proposed Amended Expenditures for the General Fund is unchanged.  The 2018 adopted budget for the General Fund included fund balance in addition to operational budget.  So while the operational budget for 2018 will change by increasing the transfers out by $2,849,000, the total expenditures will remain the same Therefore, the proposed amended expenditures for the General Fund on the state budget forms will not change.

Strategic Plan Critical Success Factor

Effective Governance/Professional Administration

Innovative Infrastructure and Asset Management

Core Services

Sound Fiscal Stewardship

Fiscal Impact (Amount/Source):

The 2018 budget amendment will increase the 2018 expenditure authority in each fund as identified. There are no tax or fee increases.

Attachments:

Notice of Public Hearing

Reviewed By: (for CMO use only)

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