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TO: Mayor Thomas J. Weisner
FROM: Brian W. Caputo, Chief Financial Officer/City Treasurer
DATE: June 23, 2015
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2015 and Ending December 31, 2015 (Amendment #1 for the 2015 Fiscal Year).
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2015 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 2015 budget on December 9, 2014 through the passage of Ordinance No. O14-070.
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 2015 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 6: Special Programs, Neighborhood Redevelopment Division, General Fund (Offsetting Revenues and Expenditures of $5,200). These items provide for the payment of costs associated with the Experience Aurora Homeownership Expo. The costs are completely offset by outside sponsor donations.
Items 2 and 8: Blues Festival, Special Events Division, General Fund (Offsetting Revenues and Expenditures of $10,000). These items provide for the payment of costs associated with Blues Week in Aurora and other Blues-related activities. The costs are completely offset by a grant from the National Endowment for the Arts.
Items 3 and 9: Farmers Market, Special Events D...
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