Broken Arrow City Council
Meeting of: 09-04-2018
Title:
title
Approval of and authorization to execute Budget Amendment Number 1 for Fiscal Year 2019
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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 1 is to provide funding for purchase orders issued or contracts entered into during the previous fiscal year that continue into Fiscal Year 2019. The City’s practice is to liquidate encumbrances at the end of the previous fiscal year and re-encumber in the current fiscal year. Budget Amendment Number 1 also provides funding for certain items identified after the budget’s adoption. Funds are available from specified revenues or in each respective Fund’s Fund Balance.
Cost: $11,644,000
Funding Source: Specified Revenues or Fund Balance of each Fund
Requested By: Cynthia Arnold, Finance Director
Approved By: Michael L. Spurgeon, City Manager
Attachments: Budget Amendment #1 for Fiscal Year 2019
Recommendation:
recommend
Approval of and authorization to execute Budget Amendment Number 1 for Fiscal Year 2019.
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