I. RECOMMENDATION:
City Manager and Financial Services Director recommend City Council:
1. Adopt Resolution No. 4312 – Amending the FY25/26 Operating Budget
2. Consideration of approval of the Transfer of Appropriations No. 26-014 in the amount of $29,000
II. BACKGROUND:
A one-time project for FY25/26 in the amount of $50,000 was approved by the City Council for Airshow Expenses (reimbursable).
III. DISCUSSION:
Budget adjust to Airport Special Event Expense line item is needed to account for shortfall in reimbursables.
IV. ALTERNATIVES:
Do not approve appropriations transfer.
V. FISCAL IMPACT:
This will impact the General Fund-Fund Balance by reducing it by $29,000 to cover the additional cost for the airshow. The budget for account 101-435-88020 will be amended from $50,000 to $79,000. |