Agenda Date: 05/21/2024
Subject:
Title
Ordinance 10-2024: An ordinance on second reading amending the 2023 Littleton Stormwater and Flood Management Utility Enterprise Budget
Body
From:
James L. Becklenberg, City Manager
Prepared by:
Tiffany Hooten, Finance Director
Presentations:
N/A
PURPOSE:
Does the city council support amending the 2023 Littleton Stormwater and Flood Management Utility Enterprise budget for additional costs for the emergency repairs related to multiple culvert collapses in 2023?
LONG-TERM OUTCOME(S) SERVED:
Safe Community; High-Quality Governance
DISCUSSION:
This ordinance is to amend the 2023 Littleton Stormwater and Flood Management Utility Enterprise budget to appropriate funds for additional emergency repairs related to multiple culvert collapses in 2023. This ordinance is to amend the 2023 Littleton Stormwater and Flood Management Utility Enterprise budget to appropriate funds for additional emergency repairs related to multiple culvert collapses in 2023. It is common for goods and services to be provided or received in one fiscal year and paid in the following year. The finance department provides a grace period through mid-February for all departments to submit invoices for goods or services received and performed in the prior year.
Finance does a cursory review of the status of funds prior to end of the fiscal year to determine if a fund might need a budget amendment. At that time, there was nothing to indicate from the finance perspective that am amendment was need.
Unfortunately, there are some invoices that are received and processed after this annual deadline. Finance is required to review the invoices to determine if they meet the requirements to be processed in the year being paid or in the year the services were performed. The invoices related to this budget amendment were received and processed by the finance department in March 2024 and due the total amount of invoices, they were required to be recorded in 2023; the ...
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