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TO: Mayor Richard C. Irvin, Mayor
FROM: Christopher A. Minick, Chief Financial Officer/City Treasurer
Stacey L. Peterson, Director of Financial Operations
DATE: June 9, 2023
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2022 and Ending December 31, 2022 (Amendment #2 for the 2022 Fiscal Year)
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2022 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 2022 budget on December 7, 2021 through the passage of Ordinance No. O21-066.
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.
The City Council approved a previous amendment to the 2022 City Budget on July 12, 2022.
DISCUSSION:
The attached, proposed ordinance, including its Exhibit A, would provide for certain changes in the 2022 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 through 2 and 23 through 27: HOME Program (Offsetting Revenue and Expenditure Increases Totaling $2,093,200). These items adjust the budget for the actual annual HOME Program allocation and the additional HOME ARP allocation to the city. At the time the 2022 budget was prepared, we did not have final allocation information. The amounts included in the original 2022 budget reflected only an estimate of the allocation.
Items 3 and 28 through 31: CDBG COVID Program (Offsetting Revenues and Expenditures Increases Totaling $913,80...
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