CITY COMMISSION AGENDA ITEM

Department:

Finance Department

Commission Meeting Date: August 7, 2018

Staff Contact:

Bryan Kidney, Finance Director

Recommendations/Options/Action Requested:

Conduct public hearing for the 2018 amended budget and consider adopting on first reading, Ordinance No. 9553, increasing the 2018 expenditure authority, if appropriate.

Executive Summary:

Pursuant to action taken by the City Commission at its July 17, 2018 meeting, notice of public hearing to be conducted on August 7, 2018 was published on July 20, 2018 in the Lawrence Journal World. The purpose of the public hearing is to receive and respond to questions of citizens related to the 2018 amended budget.

The 2018 budget amendment increases the 2018 expenditure authority by $3,815,000 in order to use prior year fund balance. These increases are due to unforeseen expenditures that were not included in the 2018 budget. 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 Fund			6,481,000	9,689,000
9 NH South			516,000	609,000
9 NH 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

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 the 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 by $3,815,000 in order to use prior year fund balances. There are no tax or fee increases.

Attachments:

Ordinance No. 9553

Certificate of 2018 Budget Amendment

Reviewed By: (for CMO use only)

☐TM ☐DS ☒CT ☐BM