Consider recommending approval of a $78,000.00 budget adjustment to establish funding for the Top Flight Tavern. The requested adjustment is necessary because these expenditures were not included in the FY27 budget. (Sanchez)

Initiated by Michelle Sanchez

The Air Center is requesting a budget adjustment to establish funding for the Top Flight Tavern. During the preparation of the FY27 budget, funding for the Tavern's startup and operational expenses was inadvertently omitted. Approval of this budget adjustment will provide the necessary appropriations for equipment, supplies, inventory, and other operating expenses. Although projected revenue of $78,000.00 was included in the FY27 budget, the corresponding expenditure appropriation was not.  

Financial Impact (Revenue & Expense):  Budget Adjustment Needed

Expense: 51004332–781020 COS-Food & Beverage Expense — $78,000.00 This budget adjustment of $78,000.00 will establish the necessary appropriation to fund the startup and operating expenses required to open and operate the Top Flight Tavern. The Tavern is anticipated to generate revenue through food and beverage sales once operations begin. Although projected revenue of $78,000.00 was included in the FY27 budget, the corresponding expenditure budget was inadvertently omitted. Approval of this adjustment will align the expenditure budget with the anticipated revenue. 
 

No legal review at this time. 

The Finance Committee will be the first committee to review this item. 

Proceed as presented.