| | | | | | | | Council Communication
Department: Finance
Case/Project No.:
Submitted by: Finance Department / Danielle Bemis | Resolution 23-145
ITEM 5.A. | Council Action: 5/22/2023 |
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| | | | | | | | Description
Resolution to approve the proposed amendment to the current city budget for the fiscal year ending June 30, 2023. |
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| | | | | | | | Background/Discussion
The City of Council Bluffs is proposing an amendment to the budget for the fiscal year ending June 30, 2023.
General fund expenditures exceed revenues by $4.8M, reflecting of the following:
- Increased costs due to inflation and supply/demand market fluctuations (i.e. fuel, gas, utilities).
- Timing of project spend and use of general fund dollars as the funding mechanism.
- Increased overtime salaries due to staff shortages.
- Casualty insurance increased $300K due to market increase and improved coverage.
Additional highlights for the proposed budget amendment are contained in the FY23 Amended Budget packet. |
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| | | | | | | | Recommendation
Per the State of Iowa, municipalities are required to submit an amended budget if/when expenditures are projected to be over budget. In order to comply with this requirement, staff recommends approval of the FY23 proposed budget amendment. Upon approval, the amended budget will be filed with the State of Iowa and Pottawattamie County. |
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