Budget Ordinance Amendment 1st Reading - Finance: Consider Budget Ordinance 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
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