Broken Arrow City Council
Meeting of: 07-21-2015
To: Mayor and City Council
From: Finance Department
Title:
title
Approval of and authorization to execute Budget Amendment Number 1 for Fiscal Year 2015-2016
End
Background:
The Municipal Budget Act adopted by the City Council allows the City to amend the budget at any time during the year for necessary expenditures incurred that exceed the original budget. This amendment is to provide funding for contracts entered into during the previous fiscal year that will be continuing into Fiscal Year 2015-2016. It also makes certain corrections identified after the budget’s adoption. The City’s practice is to liquidate these types of encumbrances at the end of the previous fiscal year and re-encumber by Council action in the current fiscal year. Staff recommends that the Council approve Budget Amendment Number 1 and authorize its execution.
Cost: $0
Prepared By: Thomas L. Caldwell, Finance Director
Reviewed By: Legal Department
Assistant City Manager
Approved By: Russell M. Gale, Acting City Manager
Attachments: Budget Amendment #1
Recommendation:
Approve Budget Amendment Number 1 for Fiscal Year 2015-2016 and authorize its execution.