DATE: May 6, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Mark Hilty, Director of Water Management
SUBJECT:
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PUBLIC HEARING: Consideration of Resolution 2016-21, a Resolution Amending the Estimate of Revenues and Expenditures for the Water and Sanitary Sewer Utility Fund for Fiscal Year 2016-2017, and providing an Effective Date. (05-12-16 Finance 3-0)
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the Water Management budget for Fiscal Year 2016-2017.
Background
The Board of Mayor & Aldermen adopted a resolution approving a biennial budget for the Fiscal Years ending on June 30 of 2016 and 2017 for the Water Management Department. At the end of the first of the two years, a review of the second year budget typically results is some small modifications to the original amounts.
This resolution adopts the recommended changes for Fiscal Year 2016-2017.
Financial Impact
The financial impact of the proposed changes are minimal.
Recommendation
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Staff recommends approval of the budget resolution.