Broken Arrow City Council
Meeting of: 06-03-2024
Title:
title
Approval of and authorization to execute Budget Amendment Number 32 for Fiscal Year 2024
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 or when circumstances warrant the action.
Budget Amendment Number 32 provides the funding for the contract with Cherokee Pride for the widening of 37th Street from Kenosha to Albany approved at the May 7, 2024, City Council meeting. Budget Amendment Number 32 recognizes interest revenue in excess of the original budget amount in Fund 593 and appropriates the additional revenue for the 37th Street project; Budget Amendment Number 32 transfers $1,000,000 of ARPA funds from a to be determined (TBD) project to the 37th Street project; Budget Amendment Number 32 appropriates a portion of fund balance in the Street Sales Tax Fund for the 37th Street project.
Cost: $4,250,000.00
Funding Source: ARPA Fund, 2018 GO Bond Fund & Street Sales Tax Fund
Requested By: Cynthia Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Budget Amendment #32 for Fiscal Year 2024
Recommendation:
recommend
Approve and authorize execution of Budget Amendment Number 32 for Fiscal Year 2024.
end