Agenda Date: 03/20/2018
Subject:
Title
An ordinance on second reading amending the 2018 Littleton Stormwater and Flood Management Utility Enterprise budget
Body
Presented By:
Tiffany Hooten, Finance Director
REQUESTED COUNCIL ACTION:
Does city council support amending the 2018 Littleton Stormwater and Flood Management Utility Enterprise budget for the carryover of 2017 encumbered funds?
BACKGROUND:
The city issues purchase orders for projects, goods and/or services to encumber funds for these projects. There are several projects, goods and/or services that may not be completed or spent in the fiscal year in which they were budgeted, leaving an open purchase order at the end of the year. Staff believes it is sound financial practice to re-appropriate open purchase orders at the end of each year to the next budget year.
PRIOR ACTIONS OR DISCUSSIONS:
During the 2018 budget meetings held with council September 11-13, 2017, this new budget practice was discussed.
STAFF ANALYSIS:
There is one open purchase order from the 2017 Littleton Stormwater and Flood Management Utility Enterprise budget that needs to be carried over to 2018 This ordinance will formally re-appropriate these funds.
A complete listing of the open purchase orders for all funds as of December 31, 2017 is attached.
OPTIONS/ALTERNATIVES:
Option 1: Approve amending the 2018 Littleton Stormwater and Flood Management Utility Enterprise budget to align the expenditures with the budget.
Option 2: Do not approve the amendment.
FISCAL IMPACTS:
A supplemental budget appropriation is requested in the amount of $5,525 for the Lee Gulch culvert headwalls and wingwalls in the 2018 Littleton Stormwater and Flood Management Utility Enterprise Budget. There is adequate fund balance in the 2018 budget for this supplemental appropriation based on current estimates.
STAFF RECOMMENDATION:
Staff recommends approval of the amendment to the 2018 Littleton Stormwater and Flood Management Utility Enterprise ...
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