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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: May 9, 2024
SUBJECT:
An Ordinance Amending the Annual Budget for the Fiscal Year Beginning January 1, 2023 and Ending December 31, 2023 (Amendment #2 for the 2023 Fiscal Year)
PURPOSE:
To obtain the City Council's approval of a proposed amendment to the 2023 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 2023 budget on December 6, 2022 through the passage of Ordinance No. O22-082
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 2023 City Budget on May 9, 2023.
DISCUSSION:
The attached, proposed ordinance, including its Exhibit A, would provide for certain changes in the 2023 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 19 through 21: CDBG COVID Program (Offsetting Revenues and Expenditures Increases Totaling $146,600). These items adjust the budget for the COVID-19 CDBG funding allocation to the city.
Items 2 and 24 through 30: Block Grant Fund (Offsetting Revenues and Expenditures Increases Totaling $1,075,500). These items adjust the budget for the actual annual CDBG Program allocation to the city. At the time the 2023 budget was prepared, we did not have final allocation information. The amounts included in the original 2023 budg...
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