DATE: September 8, 2017
TO: Board of Mayor and Aldermen
Budget & Finance Committee
FROM: Eric Stuckey, City Administrator
Kristine Tallent, Assistant City Administrator/Chief Financial Officer
Mike Lowe, Comptroller
Michael Walters Young, Budget & Strategic Innovation Manager
SUBJECT:
title
Consideration of Ordinance 2017-50, 2nd Quarter 2018 Budget Amendments; (09/14/17 Finance 4-0; 09/26/17 BOMA 1st Reading 8-0; 10/10/17 BOMA 2nd Reading 7-0) THIRD AND FINAL READING
body
Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning amending the Fiscal Year 2018 Budget for compliance with State budgeting guidance regarding:
1. Ensuring authorizations in place to balance each fund's budget on a cash basis on June 30, 2017.
Background
The State Comptroller has provided guidance that budget amendments are to be on the cash basis and must occur prior to fiscal year end (June 30) to ensure no fund has a deficit fund balance or deficit cash balance at June 30.
In order to stay ahead of this responsibility, staff is proposing three budget amendments.
The amendments are as follows:
1. Personnel Changes within General Fund: This amendment has two components:
a. Transfer of $27,500 from Building & Neighborhood Services Expenses and $27,500 from Information Technology Expenses to Information Technology Personnel in order to accommodate the creation of a new Information Services Analyst I position for the remainder of Fiscal Year 2018. This is position will work directly with Building and Neighborhood Services to implement technology upgrades to our existing systems and generate greater efficiencies. Several other organizational changes will also be made to the Information Technology Department at this time but will result in no financial impact. These include the reclassification of the existing Information Systems Analyst I to the new position of Enterprise Support & Training Spe...
Click here for full text