FIN 2018-11-20 Item 2B - Ordinance - 2017-2018 Biennial Budget Amendment

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INFORMATIONAL MEMO Page 3 • Reflect budget transfers from the utility funds and land acquisition fund into the city facilities fund (306) for the Public Works Shops facility, • Expenditure budgets specific to the Public Safety Plan have been updated per revised budget received from SOJ in August 2018, • Transfer prior -year and current year REET revenue from the Land Acquisition, Park Dev. Fund (301) to the Public Safety Plan funds, • Adjust REET, and fire impact fees budget to align with D-20 model, • Transfer fire impact fees collected to the Public Safety Plan fund, and • Adjust the Public Safety Plan fund (305) to reflect the transfer in of impact fees previously collected and adjust timing of purchase of fire apparatus and other fire equipment OTHER FUNDS Budget amendments for other funds are proposed to -- • True up 2018 beginning fund balances to 2017 ending fund balances in several funds, • Add cost of SWAT vehicles to Equipment Rental and Replacement fund. Council authorized the purchase of 4 SWAT vehicles at the October 15, 2018 Regular Meeting. Police will pay for the vehicles out of existing budget via equipment replacement charges. The cost to purchase the vehicles will occur in the Equipment Renal & Replacement fund 501, and • True up both revenue and expenditure budget for the UTGO bond fund. SUMMARY / FINANCIAL OUTLOOK Overall, the proposed budget amendments align the budget with year-end expectations and do not draw down the general fund. It is expected that departmental expenditures will remain within budget. The amended budget reflects a sound financial position. RECOMMENDATION The Council is asked to approve the 2018 Budget Amendment ordinance and consider this item at the November 26, 2018 Committee of the Whole, and December 3, 2018 Regular Council Meeting. ATTACHMENTS Draft Ordinance Reconciliation of 2017-2018 Budget Summary to Ordinance W:12018 Info Memos12018 Budget Amendment.docx 13