DATE: May 7, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
SUBJECT:
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PUBLIC HEARING: Consideration of Ordinance 2015-15, An Ordinance To Amend The Fiscal Year 2014-2015 Budget; (05/14/15 Finance 3-0, 05/26/15 BOMA 1st Reading 7-0) SECOND 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 amendment of the Fiscal Year 2014-2015 Budget to account for activities or conditions arising since passage of the original budget.
Background
Rather than bring multiple budget amendments at numerous Board meetings, staff recommends that budget amendments be considered by the Budget & Finance Committee on a quarterly basis. As with amendments in previous quarters, some of the entries reflect purchases approved by the Board or additional expense resulting from previously approved Board actions.
Financial Impact
There is no direct impact from these amendments, as expenditures are balanced against estimated revenues that are offsetting.
Recommendation
Staff recommends approval of the amendments as presented.