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TO: Mayor Thomas J. Weisner
FROM: Brian W. Caputo, Chief Financial Officer/City Treasurer
DATE: March 14, 2014
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2014 and Ending December 31, 2014 (Amendment #1 for the 2014 Fiscal Year)
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2014 City Budget.
BACKGROUND:
Pursuant to 65 ILCS 5/8-2-9.1 through 9.10, the City of Aurora operates under the budget system of government finance. The City Council adopted the 2014 budget on December 17, 2013 through the passage of Ordinance No. O13-112.
While the city attempts to anticipate all potential expenditures for a fiscal year when that year's budget is developed, circumstances occasionally arise that require expenditures that were not contemplated in the original financial plan. 65 ILCS 5/8-2-9.6 permits a municipality operating under the budget system to amend its annual budget by a two third's vote of its governing body.
DISCUSSION:
The attached, proposed ordinance, including its Exhibit A, would provide for certain changes in the 2014 City Budget. Below is an explanation for each change. The item numbers discussed below correspond to the item numbers assigned to each change detailed in Exhibit A.
Items 1 and 5: Expendable Tools/Equipment, Police Department, General Fund (Offsetting Revenues and Expenditures of $46,600). These items provide for the purchase of building entry tools, a training door, and vehicle rifle racks. The costs will be completely offset by the Byrne Memorial Grant.
Items 2 and 3: Home-Rule Sales Taxes (Revenue Reallocation of $500,000). These items serve to reallocate home-rule sales taxes from Capital Improvements Fund A to the Airport Fund to permit the purchase of the broom/blower chassis as described below.
Items 4 and 9: Runway 15/33 Joints, Airport Fund (Net Expenditure Increase of $55,000). These items will provide for the ne...
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