DATE: May 7, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
SUBJECT:
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Consideration of Ordinance 2015-13, An Ordinance of the City of Franklin, TN, Adopting a Budget for the Fiscal Year 2015-2016, and Providing an Effective Date; (05/14/15 Finance 3-0, 05/26/15 BOMA 1st Reading 7-0; 06/09/15 2ND Reading and Public Hearing) THIRD AND FINAL READING
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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 Budget for Fiscal Year 2015-16.
Background
The Franklin City Charter, Article VIII, provides for the adoption of an annual budget for all departments of the City of Franklin, including expenditures for personnel, operating expenditures and capital equipment. An annual budget process reviewing appropriations to the various departments and divisions of the City government for the fiscal year beginning July 1, 2015 has been completed in accordance with state law and local ordinances, and with the budget process approved by the Board.
Financial Impact
Each department of the City shall limit its expenditures to the amount appropriated in the Ordinance. Any changes or amendments to the appropriations set forth in the budget shall be made in accordance with the City Charter, Article VIII, the Franklin Municipal Code, and the conditions set forth in the budget ordinance.
Recommendation
Staff recommends approval of the Ordinance.