8.2. SR 12-15-2014 - Laserfiche WebLink

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City of Elk - Request for Action River O. To Item Number Mayor and City Council 8.2 Agenda Section Meeting Date Prepared by General Business December 15, 2014 Tim Simon, Finance Director Item Description Reviewed by 2014 Budget Amendments Cal Portner, City Administrator Reviewed by Action Requested Approve,by motion,the budget amendments as stated in the proposed 2014 budget amendments attachment. Background/Discussion Annually budget amendments are presented to the City Council each December in accordance with the City's Financial Management Plan. The operating budget section of the Financial Management Plan regarding budget amendments are reprinted below for your reference. • The budget shall be adjusted as needed to recognize significant deviations from original budget expectations. The Council shall consider budget amendments each December. Budget amendments are intended to recognize changes made by the Council during the year, to reflect major revenue and expenditure deviations from budgeted amounts, and to consider year-end budget requests. Budget amendments are not intended to create a budget that matches budgeted revenues and expenditures to actual revenue and expenditures. • Administrative budget amendments may be made throughout the year by department directors to adjust line item budgets within their department as long as the total departmental budget does not change. These line item budget changes exclude personal service and capital outlay categories. Administrative budget admendments must be requested in writing and approved by the city administrator and finance director. During the course of the year,the City Council approves items which are not included in the adopted budget. Some of the expenditures are authorized to be taken out of the Council Contingency budget. Also during the course of the year, a grant may be received or another revenue source identified in which case both the revenues and expenditures are approved. Department heads make administrative adjustments as allowed by the Financial Management Plan. All of these items are incorporated into the year end budget amendments presented to the Council for approval. Expenditure amendments are proposed for the following items. 1. Due to above average snow fall season, additional salt/sand is needed,allocation out of contingency. 2. Fireworks costs offset by$2,500 original budget plus contributions. 3. Final year of IT virtualization payback to Capital Outlay Reserve Fund. P a w E A E U s r NaA f RE]