Broken Arrow City Council
Meeting of: 10-20-2020
Title:
title
Approval of and authorization to execute Budget Amendment Number 11 for Fiscal Year 2021
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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.
On 10/06/2020, Ordinance No. 3652 created Fund 347, Special Cares Act Fund, to account for the receipt of the City’s reimbursement of $8,494,086.71 from the State of Oklahoma’s CARES ACT Fund for COVID-19 expenditures. Budget Amendment Number 11 recognizes and budgets the intergovernmental revenue from the State and appropriates the expenditures of $15,395 for transfer to the Public Safety Sales Tax Fund - Police and $150,000 for transfer to the Broken Arrow Economic Development Authority.
Cost: $165,395.00 intergovernmental transfer.
Funding Source: Special Cares Act Fund
Requested By: Cynthia Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Budget Amendment #11 for Fiscal Year 2021
Recommendation:
recommend
Approval of and authorization to execute Budget Amendment Number 11 for Fiscal Year 2021.
end