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			7.1.
Regular City Council Meeting
Meeting Date: 09/14/2021
Information
Agenda Item
Budget Ordinance Amendment 2nd Reading - Finance: Consider Budget Ordinance No. 2021-O0105, Amendment 42, amending the FY 2020-21 Budget for municipal purposes respecting the General Fund Capital to amend Capital Improvement Project 8633 Comprehensive Plan Implementation; respecting the General Fund Operating to appropriate additional revenue for payment in lieu of Taxes (PILOT), from the LP&L Fund and for franchise fees from the LP&L Fund, and to appropriate additional transfer to General Fund Capital and transfer to Gateway Fund; and respecting the Gateway Fund to appropriate additional transfer revenue from the General Fund; providing for filing; and providing for a savings clause.
Item Summary
On August 24, 2021, the City Council approved the first reading of the ordinance. 1.  Amend Capital Improvement Project (CIP) 8633, Comprehensive Plan Implementation, by increasing the appropriation by $40,000, from $625,000 to $665,000.  2.  Amend General Fund Operating by increasing PILOT revenue from LP&L fund by $317,082, from $2,558,288 to $2,875,370 and franchise fee revenue from LP&L Fund by $1,585,410, from $12,791,422 to $14,376,852. 3.  Amend General Fund Operating by increasing Transfer to General Fund Capital, by increasing the appropriation by $40,000, from $15,489,618 to $15,529,618. 4.  Amend General Fund Operating by increasing Transfer to Gateway, by increasing the appropriation by $634,164, from $8,035,806 to $8,669,970. 5.  Amend Gateway Fund by increasing Transfer from General Fund by $634,164, from $8,035,806 to $8,669,970.
Fiscal Impact
Included in Item Summary
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer Cheryl Brock, Director of Financial Planning & Analysis
Attachments Ordinance

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